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MPM721 People Management

tag 0 Download6 Pages / 1,335 Words
  • Course Code: MPM721
  • University: Deakin University

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Question:

As banks find new ways to do business Victoria Bank has sought to lead innovation by acquiring ten technology start-ups over the past three years. However it hasn’t been an easy road. As organisations grow over time, size inhibits innovation as large organisations have the tendency to become bureaucratic.  At its worst, this can block ideas from flourishing; at its best, creativity and innovation is slowed. This has created a problem for Victoria Bank as they want to see immediate results from their start-ups when it can take some time.

All of the start-ups they have acquired are in technology innovation. Most of their competitors are taking a similar approach.  Unlike their competitors who largely invest in outside organisations, Victoria Bank acquired the start-ups as they wanted to have more control and oversight, as well as actually owning the resultant products that the bank can use and sell, such as customer products, app development, cyber security, customer web experience etc. All of the start-ups are now based in Victoria and each ranges between fifteen and 100 employees. While all were acquired approximately three years ago, they are all at different stages of their organisational life-cycle and have different needs for growth. As such, they all operated independently with different structures and management approaches. 

Over the past eighteen months, senior management at Victoria Bank has been more actively involved in and visible to the start-ups. They feel that the young entrepreneurs in their start-ups need more management control. There is also the rising belief that it is taking too much money and effort to oversee and govern ten different start-ups. At present, Victoria Bank is represented at the Board-level but would like to expand their reach. Victoria Bank has decided that all of the start-ups will be consolidated into one daughter company called VicInnovate. Being all under one umbrella also means being in the one location. All functions will be centralised: the start-ups will all now share the same marketing, products, R&D, and HR divisions. The heads of each of these functions will come from Victoria Bank and will bring with them the policies, procedures and tools from the Bank. 

You are the new Head of HR at VicInnovate. Your mandate is to manage the process of this merger which will officially happen in six months and the first twelve months of VicInnovate. The start-ups will come together and operate under the same functional structure.  However given the nature of their activities, they will still need to be agile. This presents a number of people management challenges. 
 
Identify what the key people management challenges will be during the next eighteen months, as well as provide solutions to the problems you have identified. When providing your solutions, you should also consider timelines. The main issues that you need to consider are groups and teams, power and politics, organisational culture and communication. 
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