Jamie Dimon and Bank One: A Case Study

2135 Words5 Pages
bulb-icon

Recommended: Justify the need of effective communication in an organization

a. What is Dimon trying to accomplish in addition to learning about the situation at Bank One? House of Dimon - Dimon called the initial phase of his turnaround plan “boot camp,” emphasizing the early focus on tactics and execution. He planned to spend the bulk of boot camp—the first 100 days or so— learning the business, understanding the company’s problems, strengthening the balance sheet, and improving the operating margins. Longer-term strategic vision would take place in subsequent phases. Dimon’s first objective was to understand Bank One’s lines of business, and he felt the best way to do that was to spend a lot of time meeting and listening to employees. Dimon recalled the process, "I wanted to totally immerse myself. I knew a lot about financial services, and although I had read a lot of analyst reports about Bank One prior to my arrival. I wanted to start fresh. I really did not know what to expect. The first thing I did was meet with lots of people—breakfast, lunch, and dinner, and in between.” He would say to them, “Give me the information you’re looking at.” b. What signals is Dimon sending to the organization? A House Divided Judging by his machine-gun, thousand-word-a-minute a sentence, Jamie Dimon is in a very big hurry. He often speaks and moves so quickly that he occasionally frightens his midwestern colleagues; they will just have to live with it. Because Dimon inherited, a company so badly managed and foolishly constructed that if he has any chance of capturing what he sees as his rightful place among the world's great bankers, than he damn well better hurry. Dimon's odds of restoring Bank One are fiercely debated by an investment community fatigued with financial services mergers that have yet... ... middle of paper ... ...much risk they’re taking and you don’t want to give it to them, they’re probably taking on too much risk. Give them the paper. ” Works Cited http://www.businessweek.com/bwdaily/dnflash/apr2000/nf00418f.htm http://www.icmrindia.org/casestudies/catalogue/leadership%20and%20entrepreneurship/LDEN060.htm http://xinkaishi.typepad.com/a_new_start/files/mckinsey_jamie_dimon.pdf http://www.businessweek.com/bwdaily/dnflash/jan2004/nf20040127_6764_db014.htm ----**** http://money.cnn.com/magazines/moneymag/moneymag_archive/2002/02/01/316785/index.htm http://media.www.themsj.com/media/storage/paper207/news/2001/11/12/Corporate/Jamie.Dimon.Rising.To.The.Top.Again-143771.shtml http://householdwatch.com/logic/abouthousehold.php http://media.wiley.com/product_data/excerpt/88/07879783/0787978388.pdf http://www.leadership-with-you.com/jamie-dimon-leadership.html

Show More
Related

  • Scott Welch and the Defrauding of Wachovia

    1074 Words  | 3 Pages

    ...: Wall Street Insider - Financial News, Headlines, Commentary and Analysis - Hedge Funds, Private Equity, Banks. Retrieved January 15, 2012, from http://dealbreaker.com/2010/06/wachovia-vp-had-good-reason-to-steal-money-from-bank-that-youll-probably-never-understand/

    Read More

  • Third Bank Case Study

    1322 Words  | 3 Pages

    Prior to Fuller’s transfer, management at the Carson’s location was poorly run using the classical approach. While this approach can be successful, management has to find a good middle ground between caring for the company and caring about their employees. A traditional classical approach recognizes that there are five important factors to running a successful business (Miller, 19). According to text, these factors are planning, organizing, command, coordination and control (Miller, 19-20). These factors can be seen when you look at Third Bank as a whole. In the study, the CEO saw the issues in his company and put a plan together to improve. He had meetings with management, like fuller, to organize a solution. He then commanded all locations

    Read More

  • Liars Poker by Michael Lewis

    736 Words  | 2 Pages

    The novel Liars Poker by Michael Lewis is a very interesting firsthand account of an inside look into the investment banking world, in particular bond trading at the firm Solomon Brothers in the 1980s. Lewis took an interesting and roundabout way to end up on Wall Street, studying art history at Yale and bombing his interview with Lehman Brothers. But he eventually found himself at Solomon Brothers through a lucky encounter with two managing directors wives. Through his book, Michael Lewis conveys the inner workings of investment banks in the 1980s to the average person using his own experience at Solomon Brothers. The book goes into Lewis’s own rise in the firm, as well as the rise and fall of the entire Solomon Brothers Mortgage department.

    Read More

  • JP Morgan Chase Bank

    1808 Words  | 4 Pages

    For Chase bank the mission and vision should always be clear to their customers. "At JPMorgan Ch...

    Read More

  • The Dodd-Frank Wall Street Reform and Consumer Protection Act

    1575 Words  | 4 Pages

    The Dodd-Frank Wall Street Reform and Consumer Protection Act’s policies haven’t really been implemented to the extent that regulators would have liked. Although the legislation takes many steps in addressing systematic risks in the United States financial system and improving coordination among regulators, some critics believe that alternative options might have been more effective. The coming years will give us a better understanding of how well the Dodd-Frank Act addressed these concerns.

    Read More

  • JP Morgan

    4943 Words  | 10 Pages

    Mooney, Richard. "Banker of America." The Boston Globe 4 Apr. 1999: L1 "Powerful house of Morgan Changes with the Times." The San Diego Union-Tribune 24 Feb. 1986: 18 Sinclair, Andrew. Corsair: The Life of J. Pierpont Morgan. Toronto: Little, Brown and Company, 1981.

    Read More

  • Jordan Belfort: The Wolf of Wall Street

    1357 Words  | 3 Pages

    Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in restitution to any swindled stock buyers of his brokerage firm (A&E Networks Television). Though his lavish spending and berserk party lifestyle was consumed by excessive greed, he displayed both positive and negative aspects of business communications.

    Read More

  • Warren Buffett Case Study

    1809 Words  | 4 Pages

    What is the possible meaning of the change in stock prices for Berkshire Hathaway and Scottish Power plc on the day of acquisition announcement? Specifically, what does the $2.55 billion gain in Berkshire’s market value of equity imply about the intrinsic value of PacifiCorp?

    Read More

  • Apple Inc. Financial Analysis Case Study

    3622 Words  | 8 Pages

    Financial Future: Where Will it be in 10 Years? Retrieved on November 20, 2013 from

    Read More

  • Management Style of Martha Stewart

    1539 Words  | 4 Pages

    Not all strategies “fit” within the companies activities, some are hit and misses such as when Stewart placed Charles Koppelman to the board, where “he became chairman of the board in 2005, where he negotiated a paid consulting arrangement for himself. He was viewed as enabling Stewart’s self-regard as much as tending to th...

    Read More

  • Wall Street Essay

    2365 Words  | 5 Pages

    Wall Street isn’t a game of money, all stockbrokers make their millions… it is rat...

    Read More

  • Lehman Brothers Case Study

    1203 Words  | 3 Pages

    A banking failure of Lehman Brothers had considerable negative influence on economics and financial markets worldwide. Beginning from the point what it could have been/be done, several authors agree that LB’s bankruptcy could have been/be anticipated (Christopoulos et al., 2011; Maux and Morin, 2011). They perceive a major problem in unwillingness or incapabil...

    Read More

  • The Wolf of Wall Street

    1300 Words  | 3 Pages

    Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex, he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in restitution to any swindled stock buyers of his brokerage firm. Though his lavish spending and berserk party lifestyle was consumed by excessive greed, he displayed both positive and negative aspects of business communications.

    Read More

  • Morgan Stanley’s Return on System Non-investment

    917 Words  | 2 Pages

    Under CEO Philip Purcell’s management, Morgan Stanley’s infrastructure and systems did not grow with the needs of employees and customers, nor did it apply future technologies to their current systems, it’s focus was reducing overheads to maximize profits in the short term. Many brokers resigned, taking with them valuable portfolios and profits. In June 2005 Purcell resigned, and John Mack provided new leadership. The firm then began to change its information systems and provide better services for clients, which saw stronger ethos and integrity within the employees.

    Read More

  • Banking and Finance

    1013 Words  | 3 Pages

    Never have I ever climbed a mountain peak. As a child, I imagined myself conducting expeditions in deep-frozen pathways, leading amateur explorers to the top of the world, and instructing rookies in surviving harsh blizzards. Even though slightly altered, my childhood dream has been achieved. I led a team of fellow classmates, in my Strategic Management course, to the success summit of a financial competition. Over the course of a semester, I and my teammates were supposed to create and manage a company of the IT industry, in a computer-simulated environment, along with other four rival teams. I dealt with strategy and financial matters of our virtual enterprise, while my colleagues were working on marketing and manufacturing. During the four months of the exercise, I have experienced finance from various aspects: capital budgeting, through selecting favorable investment for upcoming quarters; debt management, by assessing the necessary amount and efficiency of loans; profitability analysis and dividend policy, which had been used to compile the company’s general performance index. Working in a multinational team, which included an American, a Norwegian and a Moldovan, strengthen my negotiations skills, as well as flexibility and cooperation. But above all, this experience intensified my passion for finance. Of course, a pleasant bonus was the fact that, in the end, our company’s financial performance was six times the performance of second-best team.

    Read More

More about Jamie Dimon and Bank One: A Case Study

Open Document