Paper Example on 160 Yrs of Excellence: PNC Bank's Financial Success Story

Introduction

The PNC Bank has been operational for over 160 years. The goal of the bank is to help the clients meet their financial goals by giving the best financial service and expert advice. The bank aims to support the community, shareholders, and the customers who are dedicated to the bank and have helped the bank grow to a significant financial institution (PNC Bank website 1). The success of the bank has not been by chance but by the excellent management offered by the administrators and stakeholder feedback. The bank is known for strong values for the community that has been the supportive pillar and enabled the bank to expand and remain competitive McGahey 12).

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Motivation

Motivation at work is critical for the success of any organization. The employees dedicate their time and skill to the company, and they need to feel appreciated by the organization. PNC Bank has worked hard to ensure that the employees are always motivated in their work. The employees are paid well and promptly (Yu et al. 970). It makes the dedicate their skills without hesitation to see the bank successful. The bank employees are also promoted in a transparent and merit-based manner so that no employee feels shortchanged and disadvantaged by the process, making them demotivated. The working environment is fashioned to make the employees, and the customers relate well, reducing work stress, which determines the level of motivation for employees (Yu et al. 970).

Team Work

Teamwork is an essential concept for the organization. PNC Bank depends on working teams to deliver critical roles for the bank to remain competitive. The digital team has to work together to deliver productive and competitive online platforms for the bank. Digital transactions are every day in the 21st century, and thus the online platforms have to be working effectively (Mohanty et al. 10). The ICT Department and the marketing department have to work together to create platforms that are customer-friendly and with quality and timely services. Different departments also work together to communicate the bank’s services to the outside stakeholders (Mohanty et al. 13).

Communication

Communication is the critical concept that helps build the bank as a brand it is today. PNC regularly communicate its services to the clients using social media and the traditional media. Communication has helped PNC bank remain competitive through information sharing with the stakeholders, especially the customers (Levine 34). The bank staffs implement the bank’s competitive strategies. The implementation process depends on how effective communication is done, and PNC bank has timely communication with all staff. The supervisors of every department and branch managers hold regular team meetings to maintain an open communication channel with the employees (Levine 40).

The strategies used by the bank in employee motivation, teamwork, and communication are effective. They help attract customers to the bank and also keep employees motivated. PNC bank remains competitive in the banking industry courtesy of the communication, teamwork, and motivation concepts.

Conclusion

The PNC Bank applies all the concepts learnt in class from chapter 13 to chapter 15. They have helped the bank maneuver competition and challenging business environments. The concepts applied by the bank define every chapter covered and have helped the management in making the best decision for the company. The bank applies all the concepts to ensure success in the industry. The banking industry is one of the most competitive industries, and top-class services are critical. The management has to apply all the most effective. The bank has excelled in providing high-class financial services and expertise in the banking industry and has become a force to reckon with in the banking and finance industry.

Works Cited

Levine, Ross, et al. "Communication within banking organizations and small business lending." The Review of Financial Studies (2019):31-72.

McGahey, Richard. Financial services, financial centers: public policy and the competition for markets, firms, and jobs. Routledge (2019):10-15.

Mohanty, Ashish, and Sasmita Mohanty. "The impact of communication and group dynamics on teamwork effectiveness: The case of service sector organizations." Academy of Strategic Management Journal 17.4 (2018): 1-14.

PNC Bank website: https://www.pnc.com/en/about-pnc/company-profile/corporate-overview.html

Yu, Qionglei, et al. "Enhancing firm performance through internal market orientation and employee organizational commitment." The International Journal of Human Resource Management 30.6 (2019): 964-987.