Compare and Contrast Home Depot and Umpqua Bank Essay

Compare and Contrast Home Depot and Umpqua Bank - Essay Example Different companies have different cultures, which will be discussed here in the light of the Hofstede’s dimensions. Masculinity When both managers of home depot and Umpqua bank took office, their first initiative was to change organizational cultures so as to make the companies more competitive. This was a common goal and therefore each of the company took an initiative to ensure that its culture is transformed. Both companies gave the mandate to different individuals who are males thereby indicating the gender biasness in the two banks. Home depot hired Dennis Donovan while Umpqua hired David from Ziba to research and therefore come up with a solution. Low Uncertainty Avoidance Both of the company embarked on an environmental creation mission because they are change oriented and are ready to take risks. Umpqua ensured that it cleaned all its surrounding as this had a bad image on the company. It also refurbished its structures to ensure that the image of the company changes completely and becomes more user friendly to all customers (Freeze n.d). They did this by changing the structures to become open door one so that each customer can feel free to get in. This is because offices that are regarded as of higher standards keep off lower ranked employees and even customers who refer them as out of their reach. On the other hand, home depot structures such as low light in its orange store houses gave it a new look. Others included cluttered aisles and sparse signage (Charan, 2006). These changes in structures, which are part of organizational culture, saw great improvement in the performance of both companies. There was a major difference on how both companies implemented their policies of changing the organizational structure. Umpqua set aside a budget while home depot company just implemented the policy silently without interrupting the companies program. This played a major role in ensuring that the performance of the company is maintained even in the pe riod of transformation. Low Power Distance Language and relationship between the company officials is another important aspect that both companies undertook. Relation between the members especially the attitude in communicating plays a major role in ensuring that organization work together in achieving the set goals and objectives. Home depot ensured that it installs a good discipline among all members of the organization and all those who were not ready to comply with the new condition were swept out of the company (Charan, 2006). This showed how this aspect of culture was important to the whole performance of the company. Home depot applied an important tactic to ensure that cultural change does not get much resistance from the employees. This was through making the employees understand the benefits that the company will accrue from the change. It did this by holding various meetings with all stakeholders while the project was made clear to all people. On the other hand Umpqua cha nged its philosophies of which the employees came to uphold. It also did this by changing the features of its brand which signaled a new change in the company which was welcomed by the employees (Edger, 2010). Both companies ensured that they install a positive belief on their employees and workers. This gave both companies an upper hand as it changed the mindset of the customers towards the companies’

Essay Example | Topics and Well Written Essays - 750 words - 79

Essay Example For life insurance it is the person, who is claiming the insurance, in case of general insurance the insurable interest must be present at place when the application for insurance is being made as well as during the claim of the insurance. The principle of insurable interest mentioned that the person or the object which is getting insured must have insurable interest in the object of insurance or the life of the person who is being insured. A person who has an insurable interest when the physical presence of the insured object gives him some gain but its non-existence will give him a loss. In simple words, the insured person must suffer some financial loss by the damage of the insured object. The owner of a commercial vehicle (be it a taxi/bus or tempo) has insurable interest in the vehicle because he is earning money by using that vehicle directly or indirectly from it. Same way owner of any bus or tempo or goods vehicle, if give that on rent still have the insurable interest on it as well as the person who is driving the same because indirectly he or she is earning money from it. But, if someone sells the vehicle then he or she will not have an insurable interest left in that vehicle because the individual already have earned money one time basis from the same. By analyzing this we can easily mentioned that ownership plays an important role in the evaluation of insurable interest. Same way every individual person has an insurable interest in his or her own life.. The subject of insurance can be any property or interests such as a house,car, a person’s life, or his or her liability that rises in significance of the death or injury of or damage to the property of another person.In insurance terms, the above-mentioned definition is known as insurable interest.(Korttermynversekering, 2013). The term is associated with sea and inland waterway transport. It means that the seller delivers goods and product