Abstract In this assignment
In this assignment, I am particularly focusing on the company named VISA Inc. which provide financial services to the customers like credit card and debit cards.. After analyzing all the aspects like motivation, communication, group, teams, leadership and organizational culture overall it is a good place to work for employees and helps to promote the economic growth of the country throughout the world. The company is having many worldwide branches they are providing multiple different types of skilled jobs. Visa is also getting the award “Best place to work”. They are using the Information technology to improve the living standard of the consumer and promoting digital payment system in developing country like India. Overall, it is a very good company which is having diversity and different type of organizational structure.
Visa Inc. is a multinational company incorporated on May 25,2007. It is American company whose headquarter is situated at Foster city, California, United States. It is a company who provide services regarding Electronic payment throughout the world. It is helpful in online trade between two or different countries by using digital payment system. In this they are having different transaction processing system which is used to process authorize, clearing and settlement of transaction. It is commonly used to transfer funds electronically through Credit cards, Debit cards and Gift cards (Visa Inc(V.N), n.d.). Visa provides services to customers in almost 200 different countries. Visa is the second largest company in debit card and credit card payment organization. (VISA, n.d.)
“We are a global payment technology working to enable consumers, businesses, banks and governments to use digital currency.” (comaparably, n.d.)
To making sure that visa is the bet way to pay and be paid for everyone and everywhere. (Austin, n.d.)
Integrity-doing well by doing right
People-behind payments are people
Innovation-pioneering with a purpose
Clients- keeping clients in focus
Collaboration-pulling ahead by pulling together
Excellence-Driving results, improving performance ( (ethics, n.d.)
Motivation for employees
Visa company provide their employees good salary as well as diverse environment in the working, people from the different countries work together. It provides salary and bonus to their employees. Visa created a total reward package that ensures that they are compensated, rewarded and cared for in a way that fits their needs and expectations. All Visa company’s employees receive health insurance, life insurance, savings plans, holidays and paid off time. They also recognize their employees by performance-based rewards like a service reward or a talent referral program. They are also serving to the societies by donating to cancer patients and paying for some community work (Visa, 2018)
Various motivation theories which are applied within an VISA company
1. Need theory- Maslow’s need theory is based on five basic needs. Visa provides good average salary which satisfy all the basic needs like food, good reputation etc. The average salary for the Analyst is $50k to $54k which is good to fulfill all the needs. (Visa Inc., 2018)
2. Motivator-Hygiene theory- Employee volunteer program, Matching gift program, Performance based reward and Talent referral program all are the example of motivation which Visa is providing today to their employees. (Visa, n.d.)
3. Expectancy Theory- These motivation theories are related to each other’s. As I mentioned earlier they are providing good salary to their employees and some rewards based on the performance. Employees efforts leads to how well they are performing and their performance show how well they are performing in the organization.
In the Visa company, they are having rotational program which means no boundaries to any kind of work. ( (Visa Inc., 2017)
Groups and Teams in Visa
A formal group is the group which is used to do a specific task or work. As I already mentioned, Visa company is providing services in almost 200 countries. They are having different people from different background and different experience. This will create Diversity in an organization. Different people have different ideas to improve the work. In these kind of companies, Virtual teams are formed. They are sitting in the different parts of the world and communicate with each other and complete a task. (VISA, n.d.)
Group norms when two or more people in a group sharing the same attitude, opinion and values. In the Visa company, people from different location work together to achieve a task by sharing their ideas, values and beliefs. Group member roles are depending upon the skill of a person. There are various departments like research, processing team are available and the person working on these are specialized in that work. Social loafing means decrease in individual efforts when the size of the group is large. The person does social loafing cannot share their own ideas this is the main disadvantage of social loafing.
Team building exercise is used to coach, delegate and improve your employee dynamics. This is bundled into two exercises. These are: –
Social-network-unplugged-network (small business resource library, n.d.)
Communication in organization
Communication is the process of exchanging the information between two or more users. It can be communicated in many ways like Text messages, Group chats, Phone calls and many other things. Communication is done in either in formal or informal. Formal means communicate through an official channel. Informal means use any of the way to communicate. Grapevine is existing in almost every organization. Grapevine is basically an informal channel for communication. It is used to communicate between employees and their supervisors that are not following any rule.
History of conflicts
Conflicts can strengths and weaken over the time. It is having both participants and observers. There is a relation between intensity and outcome in different types of conflicts. There are two types of conflicts: – Functional and dysfunctional conflicts.
There are some positive results of functional conflicts: –
• Awareness of both side’s issues
• Improvement of working conditions to provide solution together
• Solving issues together
• Making innovation and improvements in an organization (Lombardo, n.d.)
Dysfunctional conflicts threaten an organization. It leads to lower productivity. Conflict can be very negative situation in a company. Most dysfunctional conflicts are unhealthy and stem from emotional or behavioral origin. (Lombardo, n.d.). Visa company directors, officers and employees have an obligation to avoid conflicts between their own interest and their work responsibility. It arises when our personal interest interferes in our working. There are some laws to avoid conflicts and it is prohibited under Sarbanes-Oxley act of 2002 for extending and arranging credit form of a personal loan to directors and officers. Conflicts of interest may not always be clear-cut. (visa, n.d.). There are mainly three types of conflicts: –
• Personal conflicts
• Inter group
Top handle conflicts, there are mainly four different styles. These are: –
• Avoiding- avoiding is basically a temporary fixed conflict handling solution. In this there is a low concern for self and others. It is not useful difficult situation.
• Compromising- it is also a temporary fixed solution. It is basically a give and take approach for both self and others. It is not good to reach a conclusion.
• Integrating- It is a having long-lasting impact, but it is very time consuming. Problem is the primary focus. It is good for complex situation. In this, there is a high concern for self and others.
• Obliging- It is also temporary fixed solution, but it encourages co-operation. More concern for others rather than oneself. (conflict handing styles)
Power, politics and decision making in organization
Power is basically used to control a situation like a manager is having the power t
Legitimate power means following rules and policies of organization. Visa is having strict rules and policies and code of conduct.
Reward power means providing rewards and promising rewards.
Coercive power means using the power to give punishment to others.
Expert power means using having expertise in a field like valued knowledge or information.
Referent power means using reference power to gain something.
Reward power is used to encourage the employees to do better like visa company provides various benefits like good pay, health insurance, loyalty program and life insurance also.
Empowerment is the term which is famous in today’s organization. It means sharing the power to some other person. It is an extension of socialized power. Virtual teams in the Visa company are empowered to take some decision. They are having some power to implement and analyze some of the things.
Political behavior is triggered by uncertainty. There are some sources which create uncertainty like not having a objective to do, uncertain in measuring the performance, defining decision process, strong individual and change in results. It is some time bad behavior like attacking others or blaming others and sometime good like praising others. Creating a favorable image is also an example of political tactics. (Political behaviour)
Decision making is one of most important part in any organization. It means choosing and identifying the best solution for the best results. Rational decision making is a step by step process like identifying, gathering data, formulate, selecting, implementing and monitoring the solution to reach at a solution. Decision tree is also one of the important concept for underlying solution in the graphical representation whether we must do or not? Is it ethical or not?
Leadership is basically assigned to leader who take the responsibility of taking care of each and everything within an organization. Managers, supervisor, department head and CEO of the company all are having the leadership quality to control and utilize their employees so that they can achieve the desired results. Leadership occurs at multiple levels in an organization. A good leader is not always called as good manager but a effective leader require effective managerial skills. Visa is a diversified country which means they are having employees from different part of the world. To control the virtual teams and employees from different places is not an easy task. Only a good leader and good management team can do this. Visa is having all those good management teams which lead VISA Inc. to the second largest company worldwide.
Empowering leadership is also one of the emerging part of the today’s organization. It means leaders are sharing power with the employees. It is having a positive impact on organization because employees feel greater feeling of control and they are responsible for outcome also.
Organizational culture is the shared set of the values, culture and driving spirit that help to identify a company’s identity. There are basically four functions of culture. These are: –
Organizational identity-this culture defines who I am and what we believe
Collective commitment-a group of persons saying the same thing.
Social system stability-comfortable with changes and less argumentative.
Sense making device-what organization is doing.
Visa Inc.is a multinational and diversified company where employees relates to different languages and culture and different lifestyles. All different people from different companies share their ideas to improve the organization. They all set a specific set of values and culture which leads to organization behavior. If it is good, then it is good place to work otherwise anyone does not like to work in that kind of companies.
Organizational structure and design
Visa Inc. is having corporate structure that is unique in the payment industry. It consists four non-stock companies, separately incorporated firms employing 6000 workers across the globe. Visa is called as Visa international service association. (m.simon, 2007)Multinational companies are having different structure than the other companies because they are having different department heads in different regions and locations. In Visa department there are various sectors which work together to achieve a goal. These departments have mission to organize and coordinate the flow of work. Different branches such as information technology department, manufacturing department, accounting department, Electronics departments, Security department, advertising department.
Contemporary Structure: Visa inc. includes all the different structure. Each of them has own specific function and perform at best level to meet their goals. Basically, this company follows geographical structure which they are world wide connected through the virtual team networks. In visa company they also follow customer departmentation.
As company launch positive facts and give benefits to their own customer. So customer attracts and company earn more benefit. Visa card company follows cross- functional
team structure. It means all the departments are interconnected with each other by working collaboration. Outsourcing for this company is all the banking sectors. They take their all visa cards and print their own bank logos which provide to their customers.
History of changes in the organization:
History begins in 1958 when bank of America started its bank americard programmed in California. They are providing cards only for a state. Later, Bank of America initiated to promise certifying contracts with a gathering of banks from outside of California. (m.simon, 2007)
Type of organization: -Visa is the multi-cultural and external force organization which includes demographic, technological advancement, customer, market changes, social and political pressure When there is stress in company they handle with following ways:
• Sometime the focus on management get negotiable so they started ignoring things.
• They run towards short run decisions as they are not fixed one.
• Lack of message, which results in missing important information
• Low skill power which normally not best fit for talented members
• Higher hope for obedience rather than discussion and teamwork
Influence of globalization on the development of the organization:
• Visa cards play an important role in an economic growth in different countries around the world.
• As we know there is huge impact of electronic Payments which leads to increment in production, jobs, income and GDP. (visa, n.d.)
We will remain Focused on guaranteeing that visa is a miscellaneous and inclusive atmosphere where different viewpoints are valued, and all our employees feel relaxed coming to work everyday to do their best and meet with their goals. – Alfred F. Kelly, jr., CEO (visa, n.d.)
• They are providing different types of job around the world.
• Giving benefits to their customers
• Useful for business purposes because international trading id much easier with the help of diverse visa company.
• People will more relax as there is modern technology and less work load and we must focus only one the knowledge.
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