Topic > Jamie Dimon and Bank One: a case study - 2135

a. What is Dimon trying to accomplish beyond knowing the situation at Bank One? House of Dimon -Dimon called the initial phase of his turnaround plan “boot camp,” emphasizing the initial focus on tactics and execution. He intended to spend most of boot camp (the first 100 days or so) learning the business, understanding the company's problems, strengthening the balance sheet, and improving operating margins. The long-term strategic vision would take place in successive stages. Dimon's first goal was to understand Bank One's lines of business, and he believed the best way to do this was to spend a lot of time meeting and listening to employees. Dimon recalled the process: “I wanted to completely immerse myself. I knew a lot about financial services, and although I had read many analyst reports on Bank One before I arrived, I wanted to start over. I really didn't know what to expect. The first thing I done was meeting a lot of people: breakfast, lunch, dinner and everything in between. He would tell them, “Give me the information you are looking for.” b. What signals is Dimon sending to the organization? Judging by his machine gun, thousands of words per minute per sentence, Jamie Dimon is in a hurry. He often speaks and moves so fast that he occasionally scares his Midwestern colleagues who will simply have to live with it because Dimon has inherited a company so poorly managed and stupidly built that if has a chance by taking what he sees as his rightful place among the world's greatest bankers, rather than better hurry. Dimon's chances of restoring Bank One are the subject of heated debate by a community of investors tired of financial services mergers that are still... mid-paper ......they're taking a lot of risk and you don't want to give it to them, they're probably taking too much risk Give them the paper” Works Citedhttp://www.businessweek . com/bwdaily/dnflash/apr2000/nf00418f.htmhttp://www.icmrindia.org/casestudies/catalogue/leadership%20and%20entrepreneurship/LDEN060.htmhttp://xinkaishi.typepad.com/a_new_start/files/mckinsey_jamie_dimon.pdfhttp: //www.businessweek.com/bwdaily/dnflash/jan2004/nf20040127_6764_db014.htm ----****http://money.cnn.com/magazines/moneymag/moneymag_archive/2002/02/01/316785/index .htmhttp://media.www.themsj.com/media/storage/paper207/news/2001/11/12/Corporate/Jamie.Dimon.Rising.To.The.Top.Again-143771.shtmlhttp://householdwatch .com/logic/abouthousehold.phphttp://media.wiley.com/product_data/excerpt/88/07879783/0787978388.pdfhttp://www.leadership-with-you.com/jamie-dimon-leadership.html