Managing Different Cultures

Steven I. Davis

Chapter 5 in Managing Change in the Excellent Banks, 1989, pp 50-61 from Palgrave Macmillan

Abstract: Abstract One of the themes of Excellence in Banking was the strength provided by shared values in dealing with a variety of management challenges. Managements were quick to focus on the virtues of a single culture which facilitated communication, created a sense of identity and focussed on strategic priorities. But a minority view acknowledged that market challenges would force management to deal with more than one culture. That minority view has now become received wisdom. Moving into diverse businesses, buying into overseas markets and recruiting outside specialists for key functional tasks has persuaded even the excellent banks with the strongest unitary system of shared values that something has to change. The focus of this chapter is how the excellent banks are dealing with this challenge.

Keywords: Investment Banking; Overseas Market; Incentive Compensation; Compensation Structure; Merge Bank (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-10744-5_5

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DOI: 10.1007/978-1-349-10744-5_5

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