Company analysis - Bancolombia Essay Example | Topics and Well Written Essays - 4000 words

Company analysis - Bancolombia - Essay ExampleThe assorted culture and characteristics of the three banks participated in the merger were not easy to be managed. The recent retirement of the tights CEO would set the future of Bancolombia in risk, if the new CEO would not be fitted to understand the firms culture but also the employees needs. Table of contents Executive stocky 2 Problem Statement 4 Supporting Evidence 4 Key decision criteria 7 Recommendations 8 References 11 Appendices 12 Problem Statement The development of the puzzle statement in ensure to this composition requires the reference to a series of events that led to the formation of Bancolombia, as in its current form. Bancolombia is an brass instrument resulted from two mergers. In its initial form, Bancolombia resulted by the merge between the Banco Industrial Colombiano (BIC) and the Banco de Colombia. The above merger took issue in 1998 and led to the establishment of Colombias most powerful firm in the ba nking constancy (case study, p.3). Bancolombia, the firm resulted by the above merger, reached a market share of 11.5% (case study, p.3). ... The identification of effective HR management practices was of precise importance in Bancolombia, as a business entity established in 1998. In the context of the southward merger, a similar issue has appeared. The second merger took place between three firms of the Colombian banking industry Bancolombia, Conavi and Corfinsura. These firms used different approaches in regard to the management of their HR a) in Bancolombia, emphasis was given on cooperation for ensuring that organizational targets in regard to profitability are met the Added Value System, (ADV), a customer profiting strategy (case study p.4) was used in Bancolombia to achieve this target. In addition, managers in Bancolombia surrender promoted a scheme called Cultural vicissitude Workshops (case study p.3) for ensuring that employees in Bancolombia are fully aware of the cu lture of the firm b) in Conavi, employees needs were passing valued in fact, high job stability and continuous interaction between employees and managers (case study p.5) have been the key characteristics of the firms HR strategy c) in Corfinsura employees had to deal mostly with large somatic clients (case study p.5) therefore, most of the firms employees were experts in investment banking services (case study p.5) Bancolombia, in its lowest form, had to deal not only with investment banking services but also to retail services. This problem has been highlighted by managers in Bancolombia, after the firms merger with Corfinsura. According to the above, this studys research problem could be described as follows would Bancolombia be able to secure high employee performance taking into favor the important differences in the HR strategies of the three firms participated in the