Structure of an Organization of Bank of Canada Essay - 1

Structure of an Organization of Bank of Canada - Essay ExampleThis paper illustrates that most of the boldnesss structure tends to be quite flexible and easy to manage for the daylight to day business. However, large organizations in majority of times become bureaucratic and tend not to be flexible enough in order to subscribe to with the challenges of the contemporary day business. The most significant point to consider is that the structure of the organization needs to permit it to fulfill its objectives and also needs to ensure that the structure fits with the business environment in which it works. The range of organizational structures are the entrepreneurial structures, the product-based structures, the function-based structures, the divisional structures, the matrix structures, and the holding company structures. The bank is observed to present the monetary services that are generally diversified in nature. The various business segments of the company are wealth managemen t, international banking, capital markets, Canadian banking and insurance. The chart presented below is the three-level organizational chart of Royal Bank of Canada. It can be stated that the board of RBC has an independent chairman. There are 16 directors who are associated with the organization independently and there are two executive directors. The term departmentalization can be understood as the process whereby the tasks are grouped into departments. Five staple methods of grouping the activities are followed they are departmentalization by-product, departmentalization by the process, departmentalization by customers, departmentalization by geographical regions and departmentalization by function. In the organizational structure, it is the jobs that are the most significant factors. The capital managerial decision is job design in the organizing function. Those jobs are generally assigned to the souls that consist of the objectives as well as the specialized task of the org anization. It is expense mentioning that the overall task of the organization cannot be assigned to a single person. For instance, the bank may consist of numerous individuals. However, it is not possible for the single individual to take the responsibility of the entire task. A few may take the responsibility of taking deposits while others may be assigned the task of the granting loans.