John Mack in 1993 created a newer paradigm changes for the company. The company’s goal was to recapitulate the “value of the franchise”. There was the need to encourage teamwork to meet this ideal. There was focus on changing the ideology of the firm culture (Brynjolfsson and Hitt, 1998). For the fiscal year 2015, the company’s fourth Quarter Net Revenues were found to be $7.7 Billion and Earnings per Diluted Share were $0.39. For the Full Year, the net Revenues of the company were around $35.2 Billion. The company posted strong Performance in equity sales and trading. They were ranked as number 1 in Investment Banking. The company has a number of positive factors and brand image that catapults itself into a market leader. The areas of strength of the company are that they strive to achieve a balance between innovation and maintaining the original ideals of the company. To achieve this, the company focused on reorganisations and reassignments. The people were asked to change their managerial skills. The people who showed potential were selected by the CEO Mack (Brynjolfsson and Hitt, 1998). A management team of people were built by the company and they were asked their ideas to commit to the specific place in the organisation (Brynjolfsson and Hitt, 1998). The notions of DeLong were used by the company to develop professional human resources management organisation. For this, a separate human resource department was created by the company (Brynjolfsson and Hitt, 1998).
The weakness of the company is the general losing of the employee morale based on financial market performance. These are the external financial market performance that causes the people to have their own ideologies regarding their future. There is uncertainty in the markets and owing to this, the companies’ employees are found to be apprehensive. Any restructuring efforts are considered to be a threat for the employees. This stifles innovation in the company. These lead to high employee turnover in the company. The company being a large corporation has a number of hierarchies. This does not work well for the change management.