Rob Parson Case Study Question Answers 6q2v62

1. What is your assessment of Rob Parson’s Performance? Should he be promoted? Why?

After assessing the evaluation report submitted for the the 360 degree performance evaluation system, the promotion of Rob Parson can be deferred for an year or so. There are several strong inputs provided by the colleagues inside and the outside of the organisation are not ive towards the promotion of Rob Parson. i) Parson's 360 degree performance evaluation summarizes a high degree of dissatisfaction over the level of professionalism he displays and a nature of volatile personality which has been mentioned by his colleagues across the organisation. ii) Parson's though did not have much conventional education but his ability to deal with the clients and negotiations with them, but at the cost of company culture. One of his colleague has also mentioned the violation of internal policies by extending syndicate invitation which led to $20,000 error. iii) Rob Parson is one of Morgan Stanley's strongest revenue producers, and had generated a great deal of new business for the firm ever since his recruitment. But he is also sharp-tongued, impatient and difficult to work with. And thereby difficult to promote. iv) Parson himself wasn't so sure he was right for Morgan Stanley, or if it was right for him. He'd always been a bit of a rebel, dropping out of one of New York's state universities to move to California, where he ran a beach moped shop until he got bored and decided to go back and finish his undergraduate studies. v) according to cases, we can see that the capital markets division encounters some severe straits for a long time, including a dramatic turnover rate and serious understaffed. Those issues won’t be ignored and be even exacerbate if Nasr promoted Rob to managing position since Rob is bad at team play game and always wroks as a individual, not a community. We can expect that those problems will be worse.

2. Using the data in the case please complete the Evaluation and Development summary presented in Exhibit 3 of the case.

EVALUATION THEMES

Strengths

Comments

_____________________________________________________________________________________ ______

1. Effective in negotiations with clients and can work well with relationship and building . Very good in cross selling and identifying the client's requirements.

2. Keeps informed about the business and things, good product knowledge and have commercial instincts.

3. praiseworthy contributions of raising Morgan Stanley’s market share from 2% to 12.2% and ranking from the tenth up to the third, and the comprehensive knowledge of capital markets business.

Development Areas

Comments

______________________________________________________________________________ _

1. Management and interpersonal skill development requires to be an effective team player.

2. Development of communication skills required among internal colleagues and staffs.

3. Needs to work on planning and organization of his coverage and consistent follow up

PERFORMANCE OBJECTIVES FOR THE NEXT YEAR: Business Goals ( List important Business and commercial targets).

To help Morgan and Stanley achieve the vision of 'One firm' by developing and utilizing the abilities of the employees to the fullest. To improve the capital market service and increase in the product selling and turnover.

Professional Development Goals (List important development suggestions to enhance evaluatee's professional effectiveness).

Enhancement of team player skills, creativity, judgement and decision making, oral communication and professionalism. Leadership and management of people with planning and coordination.

CAREER GOALS (Comment o evaluatee's short term and long term career goals as described in the self evaluation):

The Short term goals could be to escalate to the position of Senior managing director and to reach at the next best position at work.The long term goals to be help the firm gaining the vision of 'One Firm' and to develop the optimum potentials by attaining the highest position in the firm.

3. If you were Paul Nasr, how would you plan to conduct the performance appraisal conversation? What would be your goals be? What issues would you raise and why, and how would you raise them? Ans: - If I could have been a Rob Parson I would have done performance appraisal conversation in following steps 1. Purpose of Performance review : First I would have defined what the purpose of the performance review is.  I will tell them how was their performance till now and what are the area of improvement for their further development.  I will ask them do they require any training or resources or from my side to perform their task more efficiently.  Set the goals for the next period of time & decide its time of review.

2. Outcomes:- An annual performance review conversation needs to generate three outcomes:  A fair performance appraisal rating for the past year based on objective evidence.  A clear performance program for the coming year that is tightly aligned to the wider organizational  Enhanced levels or reinforcement of existing high levels of employee commitment, motivation and confidence that they can perform well.

3.

Skills and techniques:- Effective performance review conversations, like effective performance management overall, have clear focus on achieving the desired outcomes. The key strategies and skills involved are:  Will begin by summarizing the current position of the company and how we have performed in the last year. Tell them about the company’s future plans and relate them with the organizational goals.  Will give first chance to employee to tell about what was his experience during the last year and how was the last year for them.  Give effective to them about their last year performance.  Use active listening skills and open-ended questions to explore the employee’s perception of their performance, priorities, personal goals and career aspirations, and to help them set performance goals for the coming year.

Goals for performance appraisal conversation:   

Derive learning from past experience and take necessary steps to improve the future Make an employee clear about how he can contribute towards achieving goals of the organization. I will make sure that employee is following the organizational culture while performing its task. Define quality and quantity as precisely as possible.

Issues that I would raise are:   

I will talk about the vision and mission statement of the Organization. “Exceptional performance, absolute integrity, teamwork, innovation, dignity and respect towards others are the main components of our organization” I will talk about his extraordinary performance and will praise him for his valuable contribution in bringing the Capital market services division from ground level to the respectable position. I will also bring the issue about how his working style has affected the people who are working below him. They were feeling like they were absolute. I will ask him to be more interactive towards his team.

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I will discuss with him the performance appraisal system at Morgan Stanley and what are important factors that are considered while promoting any person.

4. What are the advantages and disadvantages of a 360 degree system? Evaluate the same in the context of the given case. Ans :- Advantages of 360 deg are: In a 360 degree appraisal, an employee’s peers, managers and even customers are asked to rate their performance, attitude and behavior. The questionnaires are completed anonymously, which allows the employees to receive the objectively and to take the comments on board without bias.  360-degree allows employees to gain a more thorough understanding of their impact on people they interact with every day.  With the help of 360 deg you can have from your team about where do you lack in your leadership skills.  It helps leverage your strengths and make a plan to address any gaps.  It helps Improve self-awareness about your impact on others, your communication style and leadership behavior.  It helps in building the environment of team work, trust and honesty in the organization. Resulting into reduced iteration rates.  Management creates a feeling in the mind of employees that they care about the opinion of their employees. This promotes long-term employee loyalty. Disadvantages of 360 deg : The 360 deg totally dependent on the trust that employees will give honest about their superiors or colleagues. Sometime it might happen that due to some interpersonal problem with each other they may give dishonest about others and will hamper the evaluation system.  It is time consuming process as it requires training of evaluators and careful crafting of customized survey questions.  It becomes difficult to interpret the findings when they differ from group to group.  Self rating may be unreliable, biased and inaccurate.  There may arise a problem of Halo Effect. Advantages of 360 degree in this case are: The 360 degree will help the organization i.e Morgan Stanley to maintain their culture of team work, co-operation and cross-selling.  It will gain the confidence of the employees and will increase the productivity of employee.  It will give employee chance to continue to improve their skills in four areas: Market/ Professional skills; Management and leadership effectiveness; commercial orientation; Team work/ one firm contribution.  This system will help Morgan Stanley to retain their employee as their employee is their biggest asset.

Disadvantages of 360 degree in this case are: This appraisal system discourages the persons who are unique in their working style who gives their best when they are given chance to work alone.  This appraisal system is costly and time consuming so it might affect the effectiveness of the appraisal system and may become a headache for the appraiser.

5. If you are Rob Parson, how would you conduct yourself in the performance evaluation meeting? What are your goals? How would you try to influence the process? Ans:- If I were a Rob Parson I would have started off with the discussion about my future plan. Then I will display them my past achievements and will tell them how I was successful in achieving these goals. I will convince the performance evaluation about my working style by showing them results which was not achieved earlier. Then I will discuss about my strengths how these strengths has helped me achieve my past year goals. I will convince them about my knowledge about the market and how I was able to gain respectable position in the market and how his strong relationship in the market will help the organization to gain more share in the market. Will discuss about the future plans what targets he has set for the coming year and how has he planned to move towards those targets and how it will benefit the organization. I will show them some work that I have done to achieve those targets. My goals are: To increase the capital market business.  To improve the ranking of the organization.  How he is planning to fit into organization culture.  Identifying and converting the new clients to improve business. I will try to influence the process by telling them that how the current working process has resulted in delay in the result making process. This has resulted in loss of clients ultimately resulting into a business loss as the client needs accurate and timely results to take their decision which according to our current process is not possible. I will try to convince them that how this current process of performance appraisal is not fit in the capital market division. The capital market division requires persons who can take quick and accurate decisions.