Holy Angel University College Engineering and Architecture S.Y.

2010-2011

WASHINGTON MUTUALS (WA-MU) CASE STUDY

Submitted by: Jerrivelle S. Javier BS in Civil Engineering

Submitted to: R-Jay P. Quiambao, CIE Professor

I.

Time Context The period in this case study is from 2004 to 2006. Ocassio a retail banking concept was patented in 2004. May 2006 when free online accountcreation system called Instant Checking was launched. The Wa-Mu inc. was named by Fortune magazine as one of the 100 best companies to work for 2006.

II.

Viewpoint This case study is about new designs introduced by the company for the employees and customers. It also focuses on the employees behavior that must be channeled in an appropriate direction and the companys core values.

III.

Relevant Facts a. Washington Mutual, Inc. Its core values are fair, caring human, dynamic and driven. Those words speaks volumes about Seattle based Washington Mutual. Yet they are quite fitting given how the company views its customers and employees. In business since 1889, WaMu (as it known) is a financial services retailer, providing a variety of financial products and services to individual consumers and to small and medium sized businesses. Its key markets are in California, Florida, Oregon, Texas and Washington. Also, WaMu is increasing its presence in key cities including Atlanta, Chicago, Denver, Las Vegas, Phoenix and Tampa. Regarding to its culture, it is simple. Everyone should be treated with dignity and respect. The company has created a work environment in which everyone has the opportunity to thrive, have fun and succeed. For them customer service is a high priority. And the company recognizes that its not just the frontline employeesthe tellerswho service customer. Every WaMu employee has customers, whether theyre internal or external. Another important priority is innovation. 2004, when Washington Mutual is notable in that it introduced a unique branch design known as Occasio which eliminated traditional teller windows and queuing stanchions in favor of an open, circular floor plan with a greeter or "concierge" position and tellers working from behind podiums.

May 11, 2006 another design was introduced to the consumers, WaMu Free Checking(TM) account, the best-value consumer checking account in banking, Washington Mutual, Inc. has introduced technology that can process the information online, verify identity, and open the account instantly. After funding, a customer uses the first check in their checkbook, which has been specially designed so that once written and processed, it is scanned and used to serve as the sample signature for the account. The process is simple and fast. Anywhere they can access the Web, consumers can open a checking account and combine it with free online bill pay, e-alerts, direct deposit, and much more.

The company was named by Fortune Magazine one of the 100 best companies to work for in 2006. With the companys continuous growth, its important to maintain the customer service and innovative culture.

IV.

Problem Statements

a. What type of personality characteristics might fit best into WaMus customer service and innovative culture? b. Design an employee attitude survey that WaMus managers might use. If you want check out information on the companys Website, www.wamu.com. . c. WaMu was named by Fortune magazine in 2006 as one of the 100 best companies to work for. What predictions, if any, could you make about job satisfaction at WaMu? How might job satisfaction affect work outcomes at WaMu?

d. The companys core values include fair, caring, human, dynamic and driven. How does the company exhibit these values?

e. What does Ocassio has for its customers?

V.

Alternative Courses of Actions a. PERSONALITY As the book describes, personality is a combination of emotional, thought, and behavioral patterns that affect how a person reacts and interacts with others. To be able to study human personality there are two approaches that are able to classify personality traits: MBIT (Myers-Briggs Type Indicator) Big Five Model

b. What is an Employee Attitude Survey? Often an essential component of organizational training and development, Employee Attitude surveys provide a picture of your organization's needs. These surveys can be used to solicit employee opinions on a variety of issues such as the company's success in communicating its mission to employees, or local issues such as quality of the working environment. These surveys often contain a series of multiple choice items grouped along one or more dimensions of the organization. The types of items included in these surveys may concern areas such as: 1. Creativity 2. Innovation 3. Satisfaction 4. Senior Management 5. Interpersonal Relations 6. Functional Expertise 7. Compensation 8. Ability to Listening 9. Customer Service 10. Communication 11. Obtaining Results 12. Analytical Thinking 13. Mentoring 14. Strategic Leadership 15. Teamwork 16. Adaptability 17. Staff Development 18. Leadership

The results of this type of feedback process provide an understanding how how the employee perceives the organization along different dimensions. This process helps the organization (Human Resources Department) understand how the employees percieve them. This feedback: * is essential to facilitating development and organizational change * allows the organization to focus on needs and leverage its strengths * informs the organization on which actions will create problems for the employees * provides management with employee feedback (both positive and negative) on the internal health of the organization * measures the impact of current programs, policies and procedures * can be used to motivate employees and improve job satisfaction

c. Fortune Magazine 1. Companies that appear on Fortunes list are selected primarily on the basis of employees responses to a confidential survey, and analysts at the Great Place to Work Institute looked at WaMus distinct culture, reflected in its most unique, if not most coveted, form of employee recognition, personalized trading cards that reward WaMulians for excellent customer service. 2. Other examples of WaMus culture include the companys quirky Action Teller dolls and its Committed Active Neighbors(CAN) program, which provides employees up to four paid hours off per month to volunteer in the community. Wa-Mu was recognized by the Fortune magazine in three areas: Best to Work For, Best Minorities and Most Admired because the company believed that maintaining a strong commitment to their people and unique corporate culture plays an integral role in Washington Mutuals financial success and growth.

d. Fair is the equality and solidarity in a society. Caring a feeling or showing care and compassion a caring attitude.

Human To do, perform, or perpetrate things with energy in a natural way in a achieving goals Dynamic It means energetic, capable of action and/or change, or forceful. Driven Is having a compulsive or urgent quality <a driven sense of obligation.

e. Ocassio is a retail banking concept was patented in 2004.Its is a concept and to a whole new way of banking. Latin for favorable opportunity, Occasio offers customers a friendly, personalized experience that encourages interaction between customers and tellers in a contemporary, open setting. .

VI.

Evaluation and Analysis a. MBIT(Myers-Briggs Type Indicator) -consists of more than 100 questions inquiring people on how they usually act or feel in a certain situations. The way you respond to these questions puts you at one end or another of four dimensions, such as: * Social Interaction: Extrovert or Introvert * Preference for gathering data: Sensing or Intuitive * Preference for decision making: Feeling or Thinking * Style of making decisions: Perspective or Judgmental On the other hand the FFM (Five Factor Model) or Big Five Model focuses on the five basic personality dimensions that emphasize all others and these are: openness, conscientiousness, agreeableness and neuroticism (common acronyms are OCEAN, NEOAC or CANOE). Openness to experience- (inventive/curious vs. consistent / cautious). Appreciation for art emotion, adventure, unusual ideas, curiosity, and variety experience.

Conscientiousness- (efficient/organized vs. easy going careless). A tendency to show self discipline, act dutifully and aim for achievement; planned rather than spontaneous behavior. Extraversion- (outgoing/energetic vs. solitary/reserved). Energy, positive emotions, surgency and the tendency to seek stimulation in the company of others. Agreeableness-(friendly/compassionate vs. cold/unkind). A tendency to be compassionate and cooperative rather than suspicious and antagonists towards others. Neuroticism-(sensitive/nervous vs. secure/confident). A tendency to experience unpleasant emotions easily, such as anger, anxiety, depression or vulnerability. b. Heres how I thinks an employee attitude survey might look at WaMu: For the following factors, please rate your position on a scale of 1 (Strongly Disagree) to 5 (Strongly Agree). I feel that I learn almost every day Im at work. Customers sometimes create a hostile environment. I like my boss. My boss provides me feedbacks on how Im doing my job. I usually have enough to do to keep me occupied and active. My WaMu branch is inviting and I look forward to walking in every work day. 7. If given an offer 10% more money at another company, I would take it. 8. If I have a problem, I feel I can talk to my manager about it. 9. I like the people on my team. 10. Im better than everyone on my team. 11. Everyone here is exactly the same. 12. I have fun and work. 13. I feel I am respected and show everyone respect. 14. I enjoy meeting new people. 15. I feel my current position is a good description and fit for my current abilities. 1. 2. 3. 4. 5. 6. c. Wa-Mu was recognized by the Fortune magazine in three areas: Best to Work For, Best Minorities and Most Admired because the company believed that maintaining a strong commitment to their people and unique corporate culture plays an integral role in Washington Mutuals financial success and growth.

Washington Mutual maintains a performance-based environment and supports its employees with competitive benefits and extensive leadership training and growth opportunities d. Core Values of Wa-Mu Fair Ethics of absolute fairness, honesty, and integrity guide everything we do. Our actions match our words. We balance the expectations and earn the trust of our customers, employees, communities and investors. We offer our customers products and services which fit their needs and provide great value. Caring We ensure that every human interaction is caring, courteous, and respectful. We expect leaders to make difficult decisions, and to carry them out in a way that allows all involved to maintain dignity. We value and respect diversity of background, thought, and style and know they are a competitive advantage. We speak candidly and listen openly. Human We are positive, energetic, and committed to achieving our objectives and living our values. We celebrate our successes and learn from our failures. We keep our egos in check and maintain a sense of humor. We believe in the power of talented, committed individualsworking as a teamto make an extraordinary difference. Dynamic We are never satisfied with the status quo and know that we must continually reinvent our organization and ourselves.

We break down silos and bureaucracies in order to serve our customers efficiently as one company. We continuously drive operational excellence to innovate our products, processes and services. Driven We are committed to excellence and the achievement of superior longterm returns for our shareholders. We set high, measurable goals and hold ourselves accountable to achieve them. We recognize that addressing challenges head-on is a requirement for success. We benchmark from our customers' viewpoint and deliver what is most important to them. We look both within and outside our industry to learn.

e. Occasio stores feature casually dressed, khaki-clad concierges who greet people and escort them to the appropriate service area. Stores also feature a circular design without traditional bank barriers -- teller windows between customers and employees -- and instead, feature teller towers where representatives can greet customers and serve them more efficiently. In addition to winning accolades for its pioneering retail banking concept, in 2004 the United States Patent Office awarded the organization the first patent issued to a financial services institution describing a fullservice branch concept.

VII.

Conclusions and Recommendations

Therefore, the study emphasized with the over all behavior that includes more in the personality of the employees of how they should act in its company, WaMu. It touches more on how they maintain their customer service and innovation to provide to their valued customers.