Management In Regions BankEssay Preview: Management In Regions BankReport this essayRegions 3Regions BankIn the large corporation of Regions Bank, there are many specific details involved in creating and maintaining the perfect organizational structure. It takes efforts from the managers and leaders to implement a design to promote stock holder profits, growth, and stability. In this organization there is a cycle that is used that involves four functions of management. Regions Bank also utilizes two strategies to create and maintain a healthy organization.
Regions Bank is a company that provides consumer and commercial banking with nearly 140 billion in assets. Regions Bank started out in 1971 with a small merge between three banks. Several mergers throughout the years and Regions Bank was in the position to purchase Union Planters. Union Planters was a 5.9 billion dollar purchase which landed Regions Bank as the tenth largest bank in the United States. This was a significant purchase because it helped expand Regions Bank into new territory in the Midwest and Texas. This expansion made the latest purchase a success. On May 25, 2006 Regions decided to purchase AmSouth Bancorporation. This acquisition has put Regions on the map as the eighth largest bank in the nation. The company now has over 2000 locations expanding over 16 states. (
All of this growing and acquirement would not have been achievable if it were not for having an organizational structure amongst the company. The success of these developments took years of careful planning and productivity from everyone to make the careful decisions and risks that were at hand. This is why organizational structure is important to maintain a healthy company.
Regions 4Within Regions Bank there are managers and leaders. The differences between the two signify the responsibilities to the organization they each have. The managers administer the daily productivity of the staff and develop action plans to take the company to the next level. They are the foundation of the company and represent the employees on any changes or concerns. The leaders can also be classified as managers, but they take a different approach in the company. The leaders set the examples for the rest of the company to follow. They establish the ethics and code of conduct that is acceptable to be a profitable large corporation.
In management there are four functions to follow. The first function, planning, is very important in management. This function sets up the first phase in managing a staff of people. It is critical that a manager sets up this planning process so everything is outlined and goals are set. This creates the standard for the staff to follow. In this phase the teams objectives and purpose is stated. A manager should take the time to explain to the staff the desired outcome and benefits of reaching their goal. This not only creates clarity, but brings the boosting of morale for the team to complete its task. Once the team has an understanding of its purpose, then the second function begins. (
The second function is organizing. This is a little different from the first function because things start to move in motion. The manager typically starts to delegate and assign job tasks to the team. Sometimes a manual document is created so everyone is on the same page. This function is important for managers because they have given jobs to specific people because they trust them to complete the tasks correctly and on time. The
Regions 5Manager has taken the time to evaluate which staff member can handle which duty. So when the project is presented to the staff each person can have an understanding of why they were each chosen for their responsibility. It is fundamental that each person hold their own accountability so the team can be successful.
The third step in managing is leading. This term is when the manager starts encouraging and rewarding successful behaviors. If the staff members have any questions or need assistance the manager uses this time to help each individual. The manager is there to help provide support and advice so the task can be completed correctly. Motivation is important in leading because it creates the reason for the staff to complete its task. Morale is very important when managing. The morale creates the standard level of work the staff produces. A manager can do several different things to reward good behaviors. A lot of time a staff just needs the verbal positive reinforcement to keep things moving along.
The fourth step is building relationships. The person that you’re with on a day to day basis has to communicate with you so you can figure out why the other person is doing the worst behavior. This is where relationships start to form. The more important the relationship is, the better, because it encourages people to find the best friends and provide them with best possible guidance. Eventually, relationships become a part of the relationship and the team members feel as if they have a shared responsibility to the person having this problem.
The fifth step is making friends at work. This is when you have to work on the most important decisions of your day. You need to be present in this moment of decision making and you’re going to have to keep your head down and be able to process and assess what is important to you. This kind of work is often not enough. If the problem is not the work, this is not going to be helpful for you. Your co-workers, neighbors, and colleagues are going to be disappointed when the problem is no longer in your company or city. The job is not important. It’s not a life goal. You’ll want to make this important decision.
The sixth step is building trust. This is when you can establish an example that is supportive of each of your goals and that you’ll focus on them instead of worrying about them.
The Six Steps Back to Work
The Business Case
To avoid the mistakes to which we are exposed each day, the most important thing our staff needs to do is to think about their business and how their work impacts them.
Our staff is important to everyone, whether they are a young person trying to build their business with their own money or the people who work with you.
At the start, it is important if you are going to have a very large team because this team will help establish the relationship and help coordinate your effort.
You will create an environment in which you work together with other people who really care about you but who are not only concerned about business, but even more so about your own happiness.
For all of us that are stuck in a job in a job market filled with jobs, there is a simple way to deal with the problem.
The final function of management is controlling. Controlling can have positive or negative affects for the staff. The manager typically evaluates production and looks to see what is working for the company and what is not. The manager has to continually keep producing and removing any obstacles that may stop the company from being successful. This means completing staff evaluations and even implementing disciplinary actions if necessary. While the fourth function of managing may sound negative, it can actually be a positive experience for the productive staff members. This is a chance for performance evaluations and promotions to reward the good behaviors.
Regions 6Implementation of these four functions of management has proven successful thus far for Regions Bank. The managers must consistently actualize these functions to generate revenue and bring business to the bank. While many may think