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Bank Of America Essay

1299 words - 6 pages

Assignment #1

Bank of America

Melissa Shuler
February 14, 2012
HRM 532
Dr. Marie-Line Germain

Outline the talent management program that led to success for the company.
Before we can go into the talent management program that led to the success for the company we must know how the company began. The Bank of America was formed in 1904 when the founder of Bank of Italy, Amadeo Giannini which was solely out of San Francisco in an effort to cater to immigrants that were denied services by other banks based upon their status. According to the article there was a fire in 1906 that was caused by an earthquake that completely took out the bank. In order to make sure things were going ...view middle of the document...

A new organization called BankAmerica Corporation was created as a parent company for the Bank of America and its holdings. BankAmerica moved into Washington by acquiring the Seafirst Corporation of Seattle along with its holding, the Seattle-First National Bank in 1983.
Identify strengths of the program and how they led to goal accomplishment.
Management involves the coordination of human, financial, material, and information resources in order to realize company goals and operate a business efficiently. Managers are the employees charged with these responsibilities. Managers play a variety of roles in a company, summarized as interpersonal roles, information roles, and decision-making roles. Managing entails five functions: planning, organizing, staffing, leading, and controlling. The day-to-day tasks of management include: considering problems and making decisions in how to deal with them, implementing courses of action, and reviewing decisions and actions and making any necessary changes (Cherrington, 1994).
When looking in the book for more information it stated that the first element of a successful on-boarding process is the selection process itself. With this being said it really starts from within the company. You have to make sure that in all companies all your coverage’s are covered and handled accordingly, from thee HR department to the marketing aspects that are putting your business out there. When looking at potential clients you have to make sure that you have an aggressive punch line to real them in and make sure they stick around. You want to make sure they feel a certain way to where they are able to feel comfortable. You want to make them feel as important as the CEO or the President because this is their livelihood. Honest is the best policy to a certain point and that’s what most people are looking for these days. The strategy is to provide them with a long Gevity and a secure stock where they can feel important and stable.
Business management can be defined as the acquisition, allocation, and utilization of resources through planning, organizing, staffing, leading, and controlling (Goldsmith, 2010).
Describe opportunities for improvement in the talent management planning process.
After looking over the case and understanding the concepts behind it, it can be said that there are some opportunities for improvement in the talent management planning process. One thing that I noticed was that about how the company goes through employees. They need to make sure they are able to keep employees happy so that they will stay with the company.
As part of their information role, managers monitor the business environment and gather information that affects their departments. In addition to gathering information, managers also distribute it among their employees. Managers play the information role by acting as spokespersons by providing information about the company to the public. Furthermore, top-level managers often must...

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