The 21st century bank: culture change in financial services

The 21st century bank: culture change in financial services
Document type
Paper
Corporate author(s)
Hay Group
Publisher
Hay Group
Date of publication
1 April 2009
Subject(s)
Trends: economic, social and technology trends affecting business, Management & leadership: including strategy, public sector management, operations and production
Collection
Business and management
Material type
Reports

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Using Hay's own 'C-sort' tool for measuring culture, this paper identifies the transition needed for a hypothetical European bank. The findings provide some powerful insights into exactly what banks need to stop and start doing in order to get through this difficult time:

  1. build and maintain clear lines of authority and accountability
  2. build mechanisms to consistently quality check work
  3. create an environment which encourages the expression of diverse and conflicting opinions

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