Company analysis - Bancolombia Essay Example | Topics and Well Written Essays - 4000 words

Organization examination - Bancolombia - Essay Example The distinctive culture and attributes of the three banks took an interest in the merger were difficult to be overseen. The ongoing retirement of the firm’s CEO would set the eventual fate of Bancolombia in chance, if the new CEO would not have the option to comprehend the firm’s culture yet in addition the employees’ needs. List of chapters Executive Summary 2 Problem Statement 4 Supporting Evidence 4 Key choice rules 7 Recommendations 8 References 11 Appendices 12 Problem Statement The improvement of the difficult explanation with respect to this investigation requires the reference to a progression of occasions that prompted the development of Bancolombia, as in its present structure. Bancolombia is an association come about because of two mergers. In its underlying structure, Bancolombia came about by the converge between the Banco Industrial Colombiano (BIC) and the Banco de Colombia. The above merger occurred in 1998 and prompted the foundation of Colombiaà ¢â‚¬â„¢s most impressive firm in the financial business (contextual analysis, p.3). Bancolombia, the firm came about by the above merger, arrived at a piece of the pie of 11.5% (contextual investigation, p.3). ... The ID of successful HR the board rehearses was of basic significance in Bancolombia, as a business substance built up in 1998. With regards to the subsequent merger, a comparable issue has showed up. The subsequent merger occurred between three firms of the Colombian financial industry: Bancolombia, Conavi and Corfinsura. These organizations utilized various methodologies with respect to the administration of their HR: an) in Bancolombia, accentuation was given on participation for guaranteeing that authoritative focuses as to gainfulness are met; the ‘Added Value System, (ADV), a client benefitting strategy’ (contextual analysis p.4) was utilized in Bancolombia to accomplish this objective. Furthermore, chiefs in Bancolombia have advanced a plan called ‘Cultural Transformation Workshops’ (contextual analysis p.3) for guaranteeing that representatives in Bancolombia are completely mindful of the way of life of the firm; b) in Conavi, employees’ needs were exceptionally esteemed; actually, ‘high work steadiness and consistent collaboration among workers and managers’ (contextual investigation p.5) have been the key attributes of the firm’s HR procedure; c) in Corfinsura workers needed to manage ‘large corporate clients’ (contextual analysis p.5); in this manner, the vast majority of the firm’s representatives were specialists in venture banking administrations (contextual analysis p.5); Bancolombia, in its last structure, needed to bargain with speculation banking administrations as well as to retail benefits. This issue has been featured by supervisors in Bancolombia, after the firm’s merger with Corfinsura. As indicated by the abovementioned, this study’s examine issue could be portrayed as follows: would Bancolombia have the option to make sure about high worker execution mulling over the significant contrasts in the HR systems of the three firms took an interest in the