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Bangkok Bank Company, which the largest bank in Thailand, has succeeded in the finance institute and has been the leader in Thailand. It situated since 1948. The company faced with many crises such as political crisis, economic crisis and more. Bangkok Bank has a strong organization and the employees who are selected with the good performance. Moreover, the company has a leader who has many experiences and good visions. Therefore the company can pass the crisis by strong organization. Accordingly, the company is the service company; the employees are the main factor that runs business in the high competitive market. There are many training program for give the knowledge about the product, service, analyze financial, and etc. Bangkok Bank separates 8 departments which are the corporate, commercial, business, consumer, international banking, treasury, SAM/recovery and investment banking to distribute the risk and gain the profit. There are many departments, so the employees are expected to drive the companies to high competitive and prevent company from the external environment that changing follows the economic.
How to develop the organization
Bangkok Bank is the huge organization; the strategy which prepares to changes is the employees. It emphasizes about a flexible in organization and concentrates in the changing of economic or political, subsequently training courses are main factor that responses the objective in the organization. Bangkok Bank creates the strategy that rotates the employees to difference departments to learn the system of work when they know the whole picture in the organization. They will apply the knowledge to develop the company. Especially, the crisis that happens immediately is the measure capability of employees. Bangkok Bank starts the strategy by select the hi-potential employees join the project that prepare for situation changed they train the employees to face the difference situation and how to be a leader and adapt the company to run business under pressure. Moreover, they have to rotate in difference department in order to see the problem in the present, predict the situation in the future and learn in difference skills. Bangkok Bank concentrates in the planning step because it is the first step for every strategy. The strategy will run smooth, if it is planned with the right information and the good planner. Moreover, the leader in organization has many capabilities and good visualization in the business. When the company faces with bad situation, the leader can use the staff to solve the problems and launch new strategies to resolve that situation. Furthermore, the company has the good teamwork in every department. They drive the company in the high competitive.
Hamburger crisis in Thailand and effect with Bangkok Bank
ThanetKongprasert (no date) mentioned about Hamburger Crisis in 2008 when Lehman Brothers, the worldâ€™s fourth largest investment bank, declared bankruptcy, and the U.S. Federal Reserve rushed to the rescue of the financial system by providing the worldâ€™s largest insurance company, American International Group (AIG). Many finance institutes got the effect because they invested in stock and bond in Lehman Brother and AIG that got the strong rating. The crisis plaguing the U.S. financial institutions caused damages to the Thai financial institutions which invested on abroad. Thai commercial banks maintained foreign investment. Their investment in foreign bonds also had a share of only 13 per cent of their overall formal foreign loans. In addition, the majority of Thai commercial banks invested in government-insured foreign credit instruments and had to some scope reduced the risks which might be incurred.This case was an abrupt and critical chaos in the global financial market. Stock marketguides all over the world made rapid drops, whereas the global liquidity severely shortened. Bangkok Bank was the one that invested in the stock and got the effect from that crisis. Bangkok Bank stocks decreased almost two times from previously the situation. Nonetheless, the strong organization adjusted new strategy to improve that use the employees found financial source from the people by increasing interest and creating the new social funds to the market. Under the excellent leader, Bangkok Bank built the teams from difference department to gain the fund from people that the big source in the market. The ways that solved the problems were created by the employees who that got the training course and acclimatize immediately with the situations and the leader who made a decision with the long vision. After that Bangkok Bank Stock was continue increasing from approximately 50 baht in 2008 to over 100 baht per stock in 2009.Hence, the company adjusted the strategy from the crisis. It would survive in the competitive and gain the benefit from the market. Many banks around the world could not improve the strategy and bankrupt.
Human Resource Management
Taylor Francis (2008) identifies that troubled with the growing role of strategic human resource management in a fast-changing global environment, focuses on coming activities in human resource management, drawing on experiential research in the areas of strategic management, international business, organizational behavior, personnel management and industrial relations that ascend from changing crisis, high competition, new theory of management, market mix, changing the technology and globalization.John Bratton (1999) cites that the economic changes taking place in the global economy have significant concerns for human resource management. Economic change will eventually control the human resource management method taken by management and subsequent human resource management results. If the companies select to whole complete service innovation and product are high quality. Then human resource management influence flows from the requirement to build a highly skillful and committed workforce. Bangkok Bank is the case study that presents the human resource management with the changing crisis. The company passed the obstacles by adapting the organization.
Michael A. Campion and Michael J. Stevens (1994) from university of Texas and Perdue University states that Features such as creativity, confidence, openness, helpfulness, elasticity, and supportiveness are characteristically mentions as desired team member. Yulk (1994) claims that leadership is the person who gives the advice to members in the group follow. When they follow the advice, they will complete the mission. Leadership meaning approaches that leadership is capability of one person to inspiration a group of person toward the success of common objective. Susan Ward (no date) gives the definition that in business, leadership is repaired to performance. Effective leaders are those who raise the business to the goals. Leadership is a winning grouping of personal qualities and the skill to think and performance as a leader, a person who points the actions of others to make the good results. Someone can be a leader, even if the only person theyâ€™re leading is themselves. Information from Promoting Thought Leadership topic (no date) claims that when the crisis occur, the leader should have strategic planning and risk management in order to improve the organization. Start from initiation of change, communication for change, consolidation for learning, crisis resolution and preparedness for crisis. Bangkok Bank had an excellent leader who able to face with the crisis. When the company met the Hamburger crisis in 2008, He leaded the organization pass the obstacles. He knew the ability of the employees. Thus, he gave the collect work to the right person, and points the thing for the others to follow. When the company had the crisis, he began to change to the policy trail the crisis. Then he set the meeting and distributedthe new policy to the employees. After that he evaluated the new policy and prepares the long term strategy. Moreover, he set the mission of the company and stimulated the employees to catch the goal by the reward. From the information of Promoting Thought Leadership he missed one of the planning is consolidation for learning. For the entire characteristic of the leader, he was suitable to be the leader.
MilindTambe (1997) from University of Southern California mentions that teamwork is the cooperative effort by the members to reach the common goals. Teamwork increases critical in many environments such as visual training, education and historical setting. Teamwork in such multifaceted, dynamic domain is more than an only union of immediate coordinated idea. Dale Mann (No date) confirms that a variety of working relationships exist among staff. The staffs in difference dimensions and skills work together in one team. They have the same objectives to achieve. The factors which respect for others in spite of professional differences, openness and willingness to communicate-listening, recognizing a job well done, willingness to talk over problems, sincere caring for others with a respect for privacy and constructive criticism are very importance to drive the team to success. All the points and talents need for an ideal working relationship are significant at every step, some change more essential as the team develops and staff members rise their level of involvement. Bangkok Bank emphasizes the teamwork is the key to push the organization pass crucial time. When Hamburger crisis, the company made the team to find out the ways which solve the crisis. The customers lose the credible in the financial institution. Therefore, they sold the stocks back to the market. Price of Bangkok Bank stock reduced over than two times. A team that was created in this crucial time had to build the credible of company back. Information of financial that the company still had the strong structure was shown to the customers. And many promotions were built so that the customers came back to invest. From that crisis, Bangkok Bank had the effective employees. They worked under the pressure and had the effort to achieve the goal. The factors that run the team are sharing the their ideas to others, open their mind to listens the other ideas, finding out the ways that can solve the problems without bias, presenting their ideas to the leader and setting the policy in the organization. That was shown the team with under concept of Dale Mann.
Miles H. Overholt (1997) states that global markets want organizations to be flexible accepting whatever structure is needed, then executives, academicians, and advisershave torethink current value decisions that suggest flattened organizations are good and hierarchical organizations are bad.Definitely, the highlighting has moved from managing and leading to making teams and permitting them to find the key to excellent organization.Flexible organization administrators are more innovative, desiring organization structures. Bangkok Bank has the program that rotates the employees to difference department to learn the skill in each department so as to increase the flexible to the organization. There are 8 departments, when the Hamburgers crisis, the company got the effect into the SAM/recovery department that needs the employees to treat the customers. The employees that had the analysis skill were required. From the rotate program, they solved the problem immediately. They moved to the SAM/recovery departments when the company got the crisis and moved back when the regular situation. The company decreased the cost of hire new employees.
Human Resource Management Developing with Bangkok Bank
Australian Human Resources Institute (AHRI) confirms that there are 3 steps to develop the employees in the organization. Firstly, plan the strategy. The companies have to outline their know-how which you want to recover and evaluate your competence. Next they set their objective and the goals. After that they identify their knowledge and capability required to complete targeted goals. And they find the gaps between current and the goals which will form the source of a development idea. Secondly, balance the strategy. AHRI recommends 7 activities to train the employees; formal education, learning activities, conferences/seminars, presentation of papers, industry involvement, service to the HR profession and informal learning. Lastly, record their activity accurately.Individual approaches to record keeping are recognized and supported with the conditionbeing that individuals plan and record all the professional development accepted. Bangkok Bank has the team to plan the training course and the activity that suit for the employees. There are 6 activities in the organization to train to the employees. Learning activity, there are one on one with director in the organization to change the attitude such as economic, working process, problem in the organization and more. Conferences and seminars, Bangkok Bank has the training center; the courses depend on department and update with the situations. Presentation of papers, Bangkok Bank uses outlook to present the paper in immediately case such as the political problems. Industry involvement, Bangkok Bank pays for industrial information from outsource service to analyze the loan, set up social fund and more. Informal learning, the employees get the knowledge from the customers who use the service in difference business. Service to the HR profession, there are the magazine which has the detail about the available position, awards in the organization and many activity in there.However, there is not only oneactivity to develop the employees that formal education. Nevertheless, Bangkok Bank invites the financial specialize from the education institute to train the employees. In the future, the company has planning to develop the course to the financial standard. The employees take the courses and pass the tests, they will get the certificate from the company. From the good training, the employees worked under the pressure in 2008 with the excellent performance.
The growing combination of the worldâ€™s economies is an effective of business. Core economic actions are shown on a global scale. Many companies have emphasized human resource management which the key to understanding managerial behavior. The external area impacts the structure and functioning of work organization, and organization decision-maker in turn impact wider society.This case study presents about Bangkok Bank with Hamburger crisis in 2008. The main factor that helped the company is the excellent organization. There werefour factors to drive the organization to pass the crisis. Firstly Bangkok Bank had a good leader who effected the members to achieve the common goal. Secondlystrong teamwork, the employees in the group that haddifference skills worked together with the same goal. Moreover, they worked without bias and opened their mind to listen members in the group. Next flexible organization, Bangkok Bank concentrated in their employees, so there was rotate program to learn in difference department when the company got the crisis. They moved to work in the department that shortage the employees. Lastly human resource management developing, there was six activities to train the employees, miss only one follow the theory of Australian Human Resources Institute. For all of factors, drove Bangkok Bank to pass many crucial times. Then it became the top business and survives in high competitive in Thai financial institute.