Morgan Stanley
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Table of Contents
People
Employees
Achievements and Rewards
Training and Teamwork
Recruiting
Motivation and Work Life
Customers
Customers and Society
Service Delivery Processes
Process Complexity
Levels of Financial Services
Level of Service Customization
Internal Support Processes
Customer Involvement
What is Physical Evidence?
Physical Tangible Evidence
Facilities
Office Layout
Ambience
Technology Integration
Implementation of On Line Services
Implementation of Informational Enterprise Services
Conclusion
ReferencesЬ
MORGAN STANLEY:
SERVICES MARKETING
”Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firms employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 33 countries.” (Anonymous, 2007) Morgan Stanley is known world-wide and has been growing tremendously. As of 2007, with a work force of 48,256, it had total sales revenue of $85,328.00 and was ranked #20 in Fortune 500 (Morgan Stanley, Hoovers, 2008).
People
In the field of services marketing, People, as a category of the service mix, is defined as: “All human actors who play a part in service delivery and thus influence the buyer’s perceptions: namely, the firm’s personnel, the customer and other customers in the service environment.” (Zeithaml, Bitner & Gremler, 2006, p.26)
Employees
Morgan Stanley values difference and embraces diversity. Their basic commitment is, “diversity permeates all levels of organization and the core to our diversity strategy is our endorsement of Firm-wide employee networks and our Disability Taskforce.”
At Morgan Stanley, people engage in a wide range of activities and programs, from employee networks to community support.’ There is Women’s First Choice Network which provides communication and support to women in order to reach their full potential, and the African and Caribbean Network which bring together African and Caribbean cultures and many other similar programs. One of Morgan Stanley’s known programs is the Disability Taskforce where employees “from across each division who actively support the Firm in developing and executing upon its disability agenda, aiming to create a disability confident workplace. The taskforce comprises three main work streams: Accessibility and Services, Awareness and Communication, and Recruitment and Career Development” (“Employee Engagement Networks”, Morgan Stanley, 2008).
“Employee networks are support/affinity groups formed around a characteristic of diversity. They offer employees a number of benefits including an opportunity for mutual support, mentoring and cross-divisional networking, an additional mechanism for internal communications and a sense of community among participants” (“Employee Engagement Networks”, Morgan Stanley, 2008).
“Morgan Stanley is committed to doing its share as a responsible corporation by improving the quality of life in the communities where employees live and work. In addition to providing extensive financial support to key charitable priority areas – children’s health and education, diversity and cultural programs”, encouragement is given to employees to give something back to their communities, for instance the European Community Matters Program which “supports charities, community groups and local schools in raising local peoples educational achievements and aspirations and improving their quality of life.” Similarly there are charitable donations, volunteering, works including arts whereby employees receive free or reduced admission to special events (“Employee Engagement Networks”, Morgan Stanley, 2008).
Achievements and Rewards. Morgan Stanley has achieved a lot of recognition and has definitely earned a reputation like no other in the industry. The below mentioned are a few of its many achievements:
In 1936: In its first full year of operation, Morgan Stanley manages or co-manages US$1.1 billion in public offerings and private placements — a 24% market share.
In 1986: Morgan Stanley becomes publicly listed on New York Stock Exchange NYSE.
In 2006: Morgan Stanley completes US$10.4 billion IPO of OJSC OC Rosneft, Russia’s largest state-owned oil and gas company and firm’s largest IPO.
In 2006: The UKs Sunday Times newspaper published its ranking of Morgan Stanley as fifth in “The 20 Best Big Companies to Work for 2006,”
In 2007: Westchester Magazine named Morgan Stanley one of its top-10 places to work in its first-ever “Best Places to Work” survey.
Training and Teamwork. Morgan Stanleys, success depends on вЂ?fostering a culture where five core values of integrity, excellence, respect for individuals and cultures, entrepreneurial spirit and teamwork are encouraged and rewarded’. (“A Message from John J. Mack, Chairman and Chief Executive Officer, to Employees, Officers and Directors about the Code of Ethics and Business Conduct”, Morgan Stanley, 2008)
“Core