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Leadership At Citigroup. “Responsible Leadership” at Citigroup Citigroup
is the largest bank in the US The company is employs ...
... They set many standards in leadership and management; unfortunately Team B feels
that they did not apply these skills at the most ... References Citigroup. (nd). ...
... Private Bank office (which will operate as a unit of Citibank, NA, Shanghai Branch)
underlines Citigroup's commitment to taking a leadership position in ...
... addition, RAN paid for a number of advertisements in various newspapers and magazines
criticizing Citigroup and challenging it to take leadership in protecting ...
... T. Prickett, Executive Director of the Center for Environmental Leadership in Business ...
Citigroup has been a leader in addressing environmental concerns in its ...
Submitted by mryoung79 on May 21, 2008
Category: Business
Words: 2316 | Pages: 10
Views: 67
Popularity Rank: 106,034
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“Responsible Leadership” at Citigroup
Citigroup is the largest bank in the U.S. The company is employs over 300,000 employees and reaches out to over 100 countries globally, with the assets of over $2.35 trillion, and a market value of $188 billion (CITE). The company is organized into three sectors of business: Global Consumer, Markets & Banking, and Global Wealth Management. These three sectors of business groups are comprised of 16 smaller subdivisions, which, coupled with Citi Alternative Investments, makes 17 distinct divisions of Citigroup.
Citi was founded in 1812 as the City Bank of New York. In 1998, a merger between Travelers Group and Citicorp gave birth to Citigroup. In recent news, Citigroup’s now former CEO, Charles “Chuck” Prince, stepped down from his position. This event marks the culmination of what many perceived to be the doomed failure of the oversized, over ambitious endeavor of Prince’s predecessor. In this paper, we will attempt to analyze the events that lead to the resignation of Prince in relation to Seeger and Ulmer’s idea of “responsible leadership.”
In their article “Explaining Enron,” Seeger and Ulmer assert that responsible leadership is built upon three communication-based leader responsibilities. These responsibilities are (a) communicating appropriate values to create a positive moral climate, (b) monitoring operations in order to stay informed, and (c) maintaining an openness to signs of problems and potential “bad news.” (CITING) A breakdown in any of these aspects of can cause degree of turmoil for an organization; for Citibank, the breakdown two of three of these of these aspects led to the resignation of the company’s CEO. In order to effectively relate the idea of leader responsibilities to Citigroup, each component of the idea must first be explored.
The first of Seeger and Ulmer’s prescribed responsibilities deals with leaders of the...
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