1. Discuss the strategies that Mountain Bank should implement to achieve a competitive advantage in the marketplace.
Changes are occurring in all organizations. Mountain Bank is no exception. Mountain Bank has a strong presence in retail banking and limited presence in the consumer lending, real estate and mortgage banking, and corporate banking lines. It is recognized that corporate banking is profitable. Since Mountain Bank has such a small presence in the corporate banking market, it has to position itself to communicate this business line to a new audience.
To achieve a competitive advantage in the marketplace, Mountain Bank should implement the differentiation strategy. Mountain ...view middle of the document...
This training would mean that the tellers would better know how to persuade the retail account holders to open corporate accounts or to get their home mortgages through Mountain Bank.
When the tellers become better trained, they are more involved and more productive. This becomes a great benefit for Mountain Bank as well as for the employees. As it becomes more profitable, the bank could increase benefits and rewards offered to the employees.
When tellers are trained using the universalistic approach, they are trained with standards and commitments channeled toward a specific goal. Because of their close supervision, it is not likely that they will deviate from the normal procedure. “Train a teller in the way s/he should perform and when s/he is older he will not depart from that training.”
3. Discuss the four human resource strategies (internal/cost, external cost, internal/differentiation and external/differentiation) that may be implemented within an organization.
The internal/cost human resource strategy, also known as the loyal soldier strategy, involves hiring employees who will stay with the company and do whatever is asked of them. These employees are highly skilled and have multi-tasking abilities. I think an example of this type of employee would be the career soldier of our armed forces.
External cost strategy, or bargain laborer, is based on hiring unskilled workers who perform the simplest tasks. These workers are trained on specifics to complete assigned tasks and do not demand high wages. Usually this strategy offers no advancement or promotion for the employees. The bargain laborer is offered only minimal benefits. This reminds me of the agricultural farm laborers.
When internal orientation is combined with a differentiation strategy the result is the committed expert. The internal/differentiation strategy is concerned with hiring and retaining employees who specialize in certain areas of work. An example of this employee is the “expert witness” hired for their expertise in any given area of specialization.
The free agent or external/differentiation human resource strategy refers to the combination of...