In Depth-The Challenge of Culutural Change: The World Bank Essay

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The World Bank President, Jim Yong Kim, announced plans to restructure the international institution based out of Washington D.C. due to the bank’s new plans for goals. In July of 2012, Jim Yong Kim launched a company-wide survey and Kim listened to the employee’s thought about “two new ambitious goals — reducing poverty worldwide by 2030 and boosting income of the poorest 40 percent” (Northam, 2014). 10,000 employees responded by telling Kim that the company needed to change in order to achieve the two new goals. Kim has decided to cut the company’s budget by 400 million over the next three years. The current set up of the World Bank has been separated in different “regions of the world, with separate budgets and management” (Northam, …show more content…
The World Bank’s clients “it helped for decades are now middle class and have access to different streams of funding” (Northam, 2014). Morris notes that the World Bank is trying to decide to “continue down the same path become less relevant to its client countries, or does it launch some kind of change to make sure it continues to be relevant” (Northam, 2014). When the previous World Bank President, Robert Zoellick announced his new plans for the organization back in 2007 when he first took office, he said in an interview that he did a lot of listening and calming troubled waters and anxiety within the organization during the beginning. He wanted to remind the employees of the World Bank to focus on their common goal of helping people fight poverty throughout the world. He highlighted the need to have “a good discussion with colleagues and then start to move to the execution stage” (R. Zoellick, personal communication, October 14, 2007). Considering the World Bank’s position regarding countries who are moving out of poverty to the middle class, the World Bank needs to find a to reach out to new countries they will be able to assist. Jim Yong Kim is restructuring the bank in order to make way for new leadership. According to Nelson and Quick in ORGB, times of crisis that revolve around difficult economic situations give leaders an “opportunity to illustrate different values” (Nelson, 2010-2012.) Kim’s reactions

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