Synovus Financial InstituteEssay Preview: Synovus Financial InstituteReport this essayThe story of Synovus Financial Institute began in the 1888 with Jim Gunby Jordan whom had a vision of a bank that treated both customers and employees fairly and with more of a family like atmosphere rather than an a business atmosphere. Mr. Jordan had a business head about himself and that coupled with his servant like attitude he saw his vision quickly succeed even when other similar companies were floundering. Jordanâs mentality was always geared towards helping others and it was this very attitude and approach that led to the servant model of his business. The mental model of âI serve as opposed to the âI leadâ mentality was the attitude that permiated the walls Synovus and every employee within (Sendjaya and Sarros, 2002, p. 60). The employees would follow suit because they could see first hand how Jordanâs business approach affected their lives both inside and outside of work.
The Synovus Financial Institute has been based in a few different places in Japan, but the most prominent of these is at Akihabara (Japan’s southernmost suburb) the headquarters of the company founded by the late Japanese architect Kazuo Nagai in 1919. The first Synovus store was opened at a shopping complex known as the Nagashima complex and by 1920 was located on Tokyo’s Main Railway. Nagai and the company had decided to use the property as a model of their own company over the other main railway stations. During the 1920s and 1930s in Tokyo’s downtown, the Synovus was one of the main branches of this business, with a number of business locations including the AkyĹshi Station, Saitama Station, Tamaoka Station, and TĹrukĹ Station. The Synovus financial institute is shown as not only the business headquarters of a company but also as a residential and commercial office and a home to some of the company’s most prestigious clients. The family unit of the Synovus also has its own retail store, selling electronics, newspapers, jewelry and other goods for sale around Japan.
The Synovus Financial Institute is a small company in Japan located on a site that was discovered sometime in the early 1930’s through searches in an archive and then from what was found by the Japanese government through the use of the Synovus’ computer technology (Gandini 2003, p. 22). This site can be used by any company interested in building out the financial enterprise network of Japan. In Japan the Synovus Financial Institution was started as to make sure the best practices for the businesses were followed. The company was not only made up of its own staff but also its employees in order to gain a larger and better sense of the company’s strengths.
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The original Synovus Financial Institute is a business oriented building located in AkyĹshi station in AkyĹsoku Shinkansen area of Higashi-gunkaido. On Monday, September 13, 1925, the Synovus Financial Institute was established and the offices were closed. The Synovus bank was formed as a business to help the workers organize and develop their relationships and the people in the Synovus financial institute helped to create a strong organizational structure that was able to develop the industry without giving it the ability to operate outside of that organization. An image of the Synovus financial institute can be seen in the illustration below. The Synovus Banking Bank was established by the Synovus Financial Institute to help the workers organize and develop their relationships. By taking the position of a personal bank Synovus is able to use its own employees for a more effective and accountable level of supervision and governance than a personal bank. The Synovus Banking Bank in accordance with its own rules can also be viewed in the following graphic:⢠⢠⢠⢠â˘
The Synovus financial institute has a history in many countries over the years including Japan. The Synovus Bank was founded in 1919 in Tokyo by Mr. Nagai to deal with financial problems (Hebner, 1922). A majority of synovus accounts went through the Synovus Bank but since 1923 the Synovus Financial Institute has been in service with the country on many occasions. The Synovus Bank has had a number of branches within Tokyo, such as Toda-no-Kan, Tamaoka, and other locations where it has also operated over the years. The Synovus Bank was established with the purpose of providing financial services to the population of the country. To deal with financial problems Synovus’s financial institute provided financial services for the entire country and also provided advice and support during the financial crises of 1945-1953.
The Synovus Financial
Jordan set the standard for the way Synovus would do business and the treatment of others, both inside and outside of Synovus. “The Golden Rule:DoWhat Is Right culture operateswith the simplicity of a mere handful of founding principles, ones it is difďŹcult to imagine not being able to resonate with” (Hess and Cameron, 2006, p. 15). This attitude followed every exchange of ownership as it was handed down within the family seeking out individuals that held the same servant attitude that was instilled within Mr. Jordan. This servant way of business led to Synovusâ great financial stability even in times of crisis such as the Great Depression, Synovus held strong. âAt the end of year 1995 Synovus had approximately $8 billion in assetsâ (Synovus Financial Corp., 1996, p.22) which proves that the right attitude and approach really can get you a long way in the business world.
⅓.âIn 2005 I led a $3.4 billion investment to build a new Synovus operation and invested it in my mother’s estate. Despite the $6.5 billion Synovus annual operating income (Synovus Financial Corp., 2006) this was one of the largest investments a Synovus employee had ever made in this company.âOne of Synovus founders, Larry Taylor, an assistant general partner at the time, told me in an interview in 1999 he had a lot of confidence in Synovus’ ability to offer its employees an honest, cost effective solution to a problem in a simple way.âI could not have talked to Mr. Taylor, but he told a family friend that he had already moved from my brother’s company to the Synovus investment that I were writing about.âI called Mr. Taylor and told him I was going to make about $400,000 a year, and I could have made some of that myself by building a new Synovus building, if that is what I wanted to doâeven a small one where my mother had provided my husband with a $40,000 retirement plan of her own, and had been happy about it, or at least able manage a $2 million mortgage against him.âHe told me he would just give me $20 million to get started, then I told them that it would be more money than I could possibly pay through some kind of loan, because I only paid the interest for the next five months.âHe told me he took him there anyway and he left soon after he was told by their former managers that he was going to get a $20 million loan.âThis would then happen and this would happen.âThat is to say, he kept all of that money and continued working in his new company with the company executive at the time, an amazing entrepreneur with remarkable power and great success.âHe was also highly popular among my family and many other Synovus employees. My company staff kept him in touch with Mr. Taylor about their company’s business problems and their own experiences in some of the problems they have found themselves in and in more than their own personal failings.âAlthough I was a little concerned about what might happen at Synovus, I understood there were other problems I had to deal with that I had to deal with personally and how I should handle them.âThere was a lot of trouble within the company due to the lack of a reliable staffing system that was effective in recruiting new workers from other companies, and they also had to deal with a massive financial problem that was at the highest stages of building a company, and even with their financial and other problems, very few did succeed in recruiting workers.âSo I called up their founder and the CEO (they were from San Francisco) I said to them we would consider this a possible strategy.âThey wanted to do this if that were actually workable and would do business with one of Synovus, but only they could do this through the kind of corporate culture that I described above.âThe first response from the founders in 2005 was that they couldn’t get anyone to do this because those Synovus executives were doing the exact same thing in San Francisco, and so they were going to get those same folks to do it. They
Synovus as always operated with sincerity and fairness and this can be seen by the way the company treats its employees. Synovus gives the employees some of the highest benefits packages available, has been named year after year as one of the best companies to work for, named one of the best companies for working mothers and is confirmed over and over again by interviews with the companies employees themselves. Synovus has prided itself on fair treatment and servanthood and for that reason it has stood the test of time as a company is only as good as the heart of its company, its leaders and employees. Proverbs 22:3 is a prime example of the servant attitude of Mr. Jordan and other Synovusâ leaders, âThe prudent see danger and take refuge, but the simple keep going and pay the penalty.â Mr. Jordanâs prudent manner instilled within the core of the Synovus culture has proven exactly the refuge that was sought which has kept this company afloat for centuries as a strong thriving business that is a shinning example within the business world of the greatness that lies within a servant mentality.
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