Decision making as it applies to Royal Bank of Canada
This report is a discussion of how decision making applies to a given organization. For purposes of this discussion, Royal Bank of Canada was selected. Apparently, this report aims at showing how this company can apply the concept of decision making to genera events. To show structure of this report, general background information regarding the company shall be provided. Information regarding the company's scope shall follow. Then discussion shall be made regarding the strengths enjoyed and the weakness suffered by the organization. Thereafter, a discussion shall be made showing the application of the concept of decision making. Last but not the least a determination is made regarding …show more content…
Besides Canada, the bank has 127 branches across 17 countries of the Carribean. These 127 branches serve a client base of over 1.6 million. The company has brokerage investment subsidiary called RBC Dominion Securities and another subsidiary for corporate banking and worldwide investment called RBC Capital market.
Strengths
One of the strengths of the bank is in regards to its strong reputation. Apparently, this bank is known as the largest bank in Canada in terms of market capitalization as well as revenues.
One other strength of the bank is that it has its operations spread across the world. In fact, it has operations in its home country Canada, in the U.S and other operations in 51 other countries of the world.
Also, it has strong fundamentals that are reflected in its strong financial statements. Equally, the fact that it employs over 68,000 people across the globe; it derives its strength from the diversity of its workforce.
Weaknesses
One of the weaknesses suffered by the bank is that it enjoys little global popularity when compared to other global banks in the financial sector. This weakness can be attributed to the fact that the bank operate majorly in Canada and the …show more content…
Every organization has a specific style of making decisions which has to culminate into the implementation of those decisions. That said lets now discuss the styles of corporate decision making.
One of the styles of making decisions is called the bottom up style while the other style is the top to bottom style. The distinguishing factor in these two styles of decision making is in the direction or level of hierarchy. In the case of bottom up style, decisions are made at the lower level of the hierarchy while in top to bottom style decisions are made at the highest level of the hierarchy. Apparently, many organizations employ the top to bottom style of decisions more especially on matters strategic focus and policy. These are very important decisions the making of which cannot be left to middle level mangers and line managers because they obviously lack competence and wealth of experience that the top managers have. When organizations apply bottom up style of making decisions then such decisions only affect the day to day running of the company. Since operations are run by teams or departments, it makes sense to give "middle level managers and line managers the autonomy to make decisions based on prevailing conditions or circumstances in their respective teams" (Nikoi & Boateng,
This report is a discussion of how decision making applies to a given organization. For purposes of this discussion, Royal Bank of Canada was selected. Apparently, this report aims at showing how this company can apply the concept of decision making to genera events. To show structure of this report, general background information regarding the company shall be provided. Information regarding the company's scope shall follow. Then discussion shall be made regarding the strengths enjoyed and the weakness suffered by the organization. Thereafter, a discussion shall be made showing the application of the concept of decision making. Last but not the least a determination is made regarding …show more content…
Besides Canada, the bank has 127 branches across 17 countries of the Carribean. These 127 branches serve a client base of over 1.6 million. The company has brokerage investment subsidiary called RBC Dominion Securities and another subsidiary for corporate banking and worldwide investment called RBC Capital market.
Strengths
One of the strengths of the bank is in regards to its strong reputation. Apparently, this bank is known as the largest bank in Canada in terms of market capitalization as well as revenues.
One other strength of the bank is that it has its operations spread across the world. In fact, it has operations in its home country Canada, in the U.S and other operations in 51 other countries of the world.
Also, it has strong fundamentals that are reflected in its strong financial statements. Equally, the fact that it employs over 68,000 people across the globe; it derives its strength from the diversity of its workforce.
Weaknesses
One of the weaknesses suffered by the bank is that it enjoys little global popularity when compared to other global banks in the financial sector. This weakness can be attributed to the fact that the bank operate majorly in Canada and the …show more content…
Every organization has a specific style of making decisions which has to culminate into the implementation of those decisions. That said lets now discuss the styles of corporate decision making.
One of the styles of making decisions is called the bottom up style while the other style is the top to bottom style. The distinguishing factor in these two styles of decision making is in the direction or level of hierarchy. In the case of bottom up style, decisions are made at the lower level of the hierarchy while in top to bottom style decisions are made at the highest level of the hierarchy. Apparently, many organizations employ the top to bottom style of decisions more especially on matters strategic focus and policy. These are very important decisions the making of which cannot be left to middle level mangers and line managers because they obviously lack competence and wealth of experience that the top managers have. When organizations apply bottom up style of making decisions then such decisions only affect the day to day running of the company. Since operations are run by teams or departments, it makes sense to give "middle level managers and line managers the autonomy to make decisions based on prevailing conditions or circumstances in their respective teams" (Nikoi & Boateng,