Integrated Business Topics BUS/ 475
April 2, 2013
Our personal values have a considerable impact on our workplace values. From this week’s readings, we learn that there is a direct correlation between the way corporations conduct “good” business today and societal principles, values, and “good” beliefs in which we were taught in familial upbringings such as integrity, respect, honesty, trust, and loyalty. In this paper, Team B will confer the correlation between our personal and workplace values. We will analyze the alignment between those personal values, actions, and behaviors of individuals and that of organizations as well, namely, Bank of America. Lastly, our team will also compare and expound upon the degree of alignment of those individual moral values and the values of Bank of America which is shown as a reflection by their plans and actions.
Analyze the Origin(s) and Subsequent Evolution of Our Personal and Workplace Values
Good workplace values are extremely important in the evolution of a business. Without good values, a business may be headed for trouble in the future. A great deal of workplace values is founded by many of our same personal values such as, honesty, integrity, and loyalty, just to name a few. The same holds true for many business likes Bank of America. Founded in 1904 as Bank of Italy, Bank of America has evolved from being a little tavern, to becoming a major force in the revolution of U.S. banking. Amadeo Peter Giannini, founder of Bank of America, went from being an immigrant, to selling 3000 shares of stock in order to open the first Bank of Italy (2013).
Personal values of Bank of America are based on certain ethical decision making processes, such as supporting a diverse workforce environment, which must align with the visions of the company. These visions and values must be the success of future planning, based on years of experience. From making the $1 billion dollar mark in 1990, to the constant expansion on its financial services such as mutual investment services to merging with other banks such as Security Pacific Corp., Bank of America plans to continue to provide exceptional workplace values with every possible customer they come in contact with (2013).
Bank of America’s values are based on past experiences that have led to success in the workplace, as well as improving its customer base. Constantly evolving, many of Bank of America employees have implemented their personal values into the workplace, which has given an even more diverse effect, especially when dealing with a diverse customer base. This alone will assist with the success of Bank of America in the future.
Individual Values Analyzing the Alignment between Our Values, Actions and Behaviors
People have their set of values that drives their actions and behaviors. For example if someone believes in courtesy to other, they will always greet others with a smile, and be polite in their conversations. Similarly like individuals every company has its own set of values, often called core values. Bank of America believes in delivering, trust, empowerment, responsibility, and opportunity. The "Bank of America Our Story" (2013) website states that Bank of America’s five core values are:
Deliver - We deliver for our customers, clients and shareholders
Trust - We trust in our team
Empowerment- We embrace the power of our people
Responsibility - We act responsibly
Opportunity - We promote opportunity
Company’s core values define the actions and behaviors of their employees. Bank of America employees share a passion for serving the financial needs of people, companies, and institutional investors. As Bank of America have operations in more than 40 countries, their employees work together around the globe to deliver the full capabilities of Bank of America to all of their constituents.