JPMorgan Chase

The company was taking up projects which are very risky for the business such as the Panama Canal, Erie Canal and another railway line expansion for the opening of the doors to economic and development of the economy in the United States. The innovations of the automatic teller machines have also been on the rise, online banking and the credit cards, therefore, being the backbone of the company. Prior to the financial crisis of 2008, JPMorgan was heavily involved in committing frauds that led to it paying more than $13 billion for the mortgages (Zeissler & Metrick, 2014). Through the various projects it undertook, the company has benefited from the contracts which have made it possible for it to be successful. Getting involved with the international world of business has created an opportunity for growth of the company. The same projects which have made the company very successful have been the root cause of problems to the company. For example, the company has been paying billions of dollars in terms of legal fines to settle some of the projects that made the company so successful.

Job performance strategy that the company has been dealing with for now is the issue to do with ensuring that they have a system of having every employee accountable for their actions. The company has set up computers that will be very beneficial in identifying the intentions of a person even before they act. This will help in reducing the cases of irresponsibility are dealt with even before they become factual (Plosser, 2013). Having a monitored area will create an opportunity for the company to grow in terms of avoiding cases to do with frauds and abuse of resources. The company will now save on the amounts of money it would have spent in terms of making settlements in courts and other issues brought about by the employee's behavior. Company policies and rules have been formulated to ensure that the employees follow the rules accordingly failure to which they will have to suffer the consequences of breaking the stipulated rules. The shift will most likely not hurt the company in any way since it is meant to ensure that the rules and regulations are followed strictly (Zeissler & Metrick, 2014). Too much surveillance is the only emphasis that will hurt the company since there will now be court actions to prevent the company from being too intrusive into other people’s lives. Having a system where the society has been put under control helps improve the productivity of a place and therefore increase the output.

Use of computers to counteract on the events that happen in the offices is the latest method of trying to contain the situation at JPMorgan Chase. With the computers in place, achieving the desired results is very simple since the algorithm implemented is able to detect any behavior which might lead to the company spending too much money in correcting the issue (Zeissler & Metrick, 2014). Employees who might use the emails to abuse of conduct illegal acts are identified very fast and flagged immediately to ensure that they do not act against the will of the company. The use of this system is not acceptable since the system has the capability of reading the emails of every employee and this is breaking the privacy of the employees. Such acts are not acceptable even by law. The only way the company can manage the effects that might arise through this system is by using the company policy to include the use of computers in ensuring quality is observed (Plosser, 2013). By this, the employees will have to think of what they want to do or say or type before acting since they are on the company’s premises.

 

 

 

 

References

Plosser, C. I. (2013). The Economic Outlook and Long-Term Growth; 34th Annual Economic Seminar, Sponsored by the Simon School of Business with JPMorgan Chase & Co. and the Rochester Business Alliance> January 15, 2013, Rochester, New York (No. 75).

Zeissler, A. G., & Metrick, A. (2014). JPMorgan Chase London Whale D: Risk Management Practices.