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ORGS 2010 Study Guide - Midterm Guide: Railways Act 1921

Organization Studies
Course Code
ORGS 2010
Rhona Berengut
Study Guide

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Liars Poker
Failure of the Mortgage Department
Strategic Design:
Alignment systems – reward systems that underpaid mortgage traders relave to the value of
their experse to the rm, so that le many for be!er o"ers
Creaon of the O%ce of the Chairman that removed Ranieri to a role for which his skills weren’t
Separaon of Ranieri from “his guys” – loss of a powerful leader
Weakening of the strong subculture of the department by moving in traders from other
departments and transferring out strong cultural leaders
Cultural Norm of the Company
Strategic Design:
If you are new to the company, you are at the bo!om. It does not ma!er about your
qualicaons; to those employees who are currently working there, they are above you in the
power ranking
If you are new, then you become a servant for the current employees. They will ask you to get
them a drink or a sandwich, and you have to do it because it is the culture inside the company. It
is cultural to be rude.
A form of hazing: newcomers are treated like crap, but when they reach the level of the people
they are beneath, then they will be the ones humiliang the newcomers
Discussing Money was Taboo
Strategic Design:
During an interview, Lewis was asked why he wanted to work for Lehman Brothers, and he
replied that he wanted to make money and the interview was over.
Recruiter told Lewis he has to be movated by more than money
Legimate and expert power on behalf of the recruiter, informing Lewis of new knowledge
Money is not supposed to be valued as much as the challenges that a person will face while
being an investment banker
Thrill of doing deals; not thinking about the pay day
The excitement of working with high-caliber people in an excing workplace overrides money
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