Organizational Change
Tremendous organizational change in Morgan Stanley happens, for instance, when the company alters its major strategy for progress, integrates or eliminates a n important department or activity, and/or desires to alter the very nature by which it functions. It also happens at Morgan Stanley when it develops through different life cycles, just like individuals must properly develop through life cycles. For Morgan Stanley to become progressive, it undergoes important change at different parts in their development. That’s why the topic of organizational change and progress in Morgan Stanley has become evident in its processes, leadership and other important operations.
Leaders at Morgan Stanley consistently make initiatives to attain productive and effective change — it’s given in their roles. Some leaders at Morgan Stanley are excellent at this initiative, while others consistently encounter difficulties and fall short (Beard, 2008). That’s most of the time the difference between employees in Morgan Stanley who do well in their responsibilities and those that get transferred around from one role to another, finally landing into a job that doesn’t suit well with them. Sadly, because of the department mentality within Morgan Stanley, it creates practically a barrier to implementing effective changes within the company. This barrier hampers the capability of the company to determine critically significant priorities to meet (like systemic issues or attractive visions for development) and then do excellent and important change to meet those challenges.
To completely know organizational change and start implementing effective change initiatives, the leaders of Morgan Stanley must have at least a deep knowledge of the subject or purpose of the change initiative. This entails knowing the fundamental systems and frameworks within the company, including their ordinary policies and responsibilities. This need applies to the knowledge of leadership and control of the company also.
While it is evident that the department mentality hinders the implementation of effective change in Morgan Stanley, still the leaders understand that change should not be done for the sake of change. Organizational change initiatives in Morgan Stanley are always meant to enhance the performance of the company and the employees within. Thus, the knowledge of the leaders of Morgan Stanley on the value of performance and the different procedures to handle changes effectively helps offset the negative impacts of department mentality. At present, with the complicated obstacles confronted by the company and the wide diversity of values and beliefs among the employees of Morgan Stanley, it’s important that the leaders work from a stable set of guidelines to guarantee they function in a highly efficient and logical way.
Organizational Development
The culture within Morgan Stanley is the overall sum of the values, beliefs and norms that make them different from others. The culture of Morgan Stanley is pertained to as the character of the company because it illustrates the vision of the company’s leaders. The elements of the culture of Morgan Stanley affect the ethical guidelines within a company, as well as managerial behavior.
In order for the culture of Morgan Stanley to be developed to allow the company to adapt with external forces, the management may try to reorganize its organizational culture. They may try to integrate company values and guidelines of behavior that particularly mirror the goals and culture of the company (Chernow, 2001). Aside from this, there must also be an extant inner culture within the employees of Morgan Stanley. Employees within the company must have their individual behavioral quirks and communications which influence the entire system.
In order for the culture of Morgan Stanley to be developed, an effective and logical vision of the company’s new plan or policy, common values and behaviors is necessary. This vision will give the desire and direction for the cultural development change within the company.
It is very crucial for the leaders of Morgan Stanley to know that developing its culture to allow the company to adapt with external forces must be handled from the top of the company, as the desire to change of the top management is a crucial factor. The management of Morgan Stanley should be very much willing to accept change in order to truly adjust to the external forces.
In order to indicate that the management of Morgan Stanley is accepting the challenge of changing the culture to adapt with external forces, the change has to be evident at first in their level. The actions of the management of the company have to signify the types of values and attitudes that must be understood in the rest of the organization. It is necessary that the management demonstrates the positive points of the present culture also. It has to be clarified that the present culture of Morgan Stanley does not have to undergo huge cultural developments, but just simple adjustments to accommodate the potential impacts of the external forces.
Developing the culture of Morgan Stanley to cope with external forces is very essential and undeniable. Culture innovations is expected to happen since it includes integrating something new and significantly distinct from what is dominant in current cultures. Cultural innovations within Morgan Stanley to cope with external forces are inevitable and figures to be harder than cultural management. The company itself may come to be perceived as valuable in itself, as a source of distinction. The external forces may bring both positive or negative influences within the culture of Morgan Stanley, but for as long as the company is ready for the changes there is nothing to worry.
REFERENCES
Beard, P. (2008). Blue Blood and Mutiny: The Fight for the Soul of Morgan Stanley. Harper Perennial; Reprint edition
Chernow, R. (2001). The House of Morgan: An American Banking Dynasty and the Rise of
Modern Finance. Grove Press