360 Degree Performance Evaluation at Morgan Stanley: Case ...



360 Degree Performance Evaluation at Morgan Stanley: Case Questions



Recently Morgan Stanley changed its corporate strategy to focus on being a “one-firm” firm, which means encouraging its professionals to consider how their actions affect overall firm performance, rather than division performance, as was previously the case. To do this, its professionals needed to focus on serving all the clients of the Company, not just the ones that are served by their unit. For example, there were investment banking and bond trading units of the Company that previously operated independent from each other. Financial services professionals now needed to develop skills at cross-functional coordination and teamwork in order to generate more revenues by cross-selling products and services that represent the intersection of divisions of the Company. The use of the 360 degree performance evaluation procedure at Morgan Stanley was designed to reinforce the change in culture which now is emphasizing teamwork and collaboration.

1. Who and what is being evaluated? Are performance appraisals used to evaluate individuals, teams or projects?

2. Who performs the evaluation? Who has input? Is all the input equally weighted or are some sources of feedback considered to be more important than others? How is feedback given to the employee being evaluated?

3. How is the performance evaluation used? Is it used for feedback purposes? Development? Administrative decisions? If so, what kinds of administrative decisions are driven by this information?

4. How is performance measured? Are the measures objective or subjective? Are relative or absolute performance scales used? Are there single or multiple dimensions of performance? Are behaviors or outcomes used as performance criteria?

5. What is your assessment of the new performance evaluation process at Morgan Stanley? Strengths? Weaknesses?

6. Does the new performance evaluation procedure enhance or detract from the firm’s new strategic objectives?

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