As our problem roots deeply in the culture of Bank X according to the Board, we should examine it thoroughly to determine the appropriate courses of action to overcome the problems. To do so, we choose this model, where different levels of the culture are analysed. The most valuable benefit of the application of this model is that the characteristics captured in the model are representing not only the inner corporate culture but the layers, which are visible to the public and those visible elements have a great effect on the loss of trust towards the bank among the costumers.
Four layers are differentiated by Hofstede, where the manifestation of the culture is visible and can be captured separately. The most central layer…show more content… One of the most embedded problems is in the culture of the company, hence the core value of it contains undesirable elements, such feeling of invulnerability, inappropriate role models, scapegoating and the ultimate desire for money and power. It is true, that bankers asked to take risks with other people’s (not small amount of) money, therefore they have great power, but as the proverb says, it has to come with great responsibility. But as we all know from the recent scandals, their responsible behaviour is questionable at best. What is the reason behind this? They do it because they want to, ordered to or expect to? Probably all three has its own part in the global problem as we saw in the Hofstede model, and they cannot overcome that if the culture of their workplace does not support them to do so. –it is more likely should go to the introduction…show more content… Therefore, the culture change by itself needs to affect every individual in Bank X. Additionally, the senior management should participate more actively, the CEO and all chief level executive should be the champion of this change, they should create and articulate a vision, the message of the culture change. This message should convey that the individualistic, self-interested, money scrounging image of bankers are the past and the future of Bank X need to lay on transparency, client-centricity and equality among the