Shinsei Bank Case Shinsei bank has a rich history in terms of influence over the Japanese banking sector. Of all the defining moments, there are a few moments that reflect the culture shift of Shinsei bank from the more traditional Japanese approach to the more Western business model. These moments include the denial by Shinsei to forgive 97 billion Yen in debt owed by Sogo, the creation of the Shinsei Securities operations and the institutional banking department, being listed on the Tokyo Stock exchange and the hiring of Tom Pedersen as the Chief Learning Officer All the above moments are important because all reflect the shift from tradition and probably may account for the current lack of culture or rift between the
This showed great progress to the creation of a unified corporate culture. The primary role of a Chief Learning Officer is to work with HR and other corporate functions to create a learning environment to follow the vision of the organization. This can include creating centralized training programs, performance evaluation programs, and other programs to develop employees internally. I think the performance evaluation program should be expanded, but not at the current time. Since this has been in operations for only a year, the firm should closely evaluate the response of this program, adjust and incorporate other metrics (which are more applicable to day-to-day employees). In addition, I agree with Luton that the results of the performance evaluation should be communicated to the one being evaluated. It is very important to communicate the findings of an evaluation to the employee and get their feedback on the process. An employee needs to know where their performance stands versus expected performance and the steps they can take to improve the performance. This can empower the employee as its shift responsibility to the employee. Generally speaking, the decision to expand or eliminate a new initiative should be based on the results obtained from the initiative versus expected results. In addition, a new initiative should be judged as to how well it fits within the organizations missions.