Methodology Performance Feedback Essay Example | Topics and Well Written Essays - 500 words

Methodology Performance Feedback - Essay Example The case under consideration is that of Morgan Stanley, which is one of the largest investment banks in US. The firm was facing issues of conflicting goals amongst its various divisions such as corporate finance, merchant banking and mergers and acquisition etc. This problem of disunity occurred as the organization grew larger and larger and the divisions started to focus on the divisional performance and profitability rather than maximizing the targets for the firm itself. Thus, the new CEO John Mack faced the challenge of making Morgan Stanley a "one-firm firm". Therefore, one of the foremost efforts made by John Mack was to unite the people under one umbrella; therefore he improved upon the performance feedback system at Morgan Stanley which until then employees considered as unimportant or of no use. Morgan Stanley was then revolutionizing to ensure its commitment to merit based performance and reward system; there fore whole of the performance measurement system was revamped and restructured. With the previous annual review system the employees were unsatisfied as it was not considered as developmental for the employees rather just a formality.