It was the biggest word of honor of the 21st century. Some of us could not believe it had happened, at least not in our lifetime. It had. One of our major banking institutions had failed. What happened? The name and address of this paper is to discuss how specific organizational behavior theories could adjudge predicted the failure of Washington joint. This writing will also gestate a comparison and contrast of how leadership, management, and organizational structures contributed to the failure of the organization.
draft Organization History
From its humble beginnings in 1889, Washington Mutual then known as Washington National make Loan and Investment struggled to develop. Its initial struggles revolved around dues and fees, certified withdrawals, and high share prices. Throughout the years, there were a series of acquisitions and mergers that caused Washington Mutual to emerge. In the 1990s, Kerry Kellinger took over as pass Executive Officer. He pursued more mergers making Washington Mutual a giant in mortgage and consumer alter until 2008.
Company Demise
In September 2008, customers started withdrawing deposits from the bank. These actions took place later Lehman Brothers had filed for bankruptcy protection.
The banking system in the country was in a state of flux causing many Americans to cook leery of the system. In a matter of 10 days, customers had withdrawn a total of $16.7 billion in deposits according to the Office of niggardliness Supervision (Sidel, Enrich, & Fitzpatrick, 2008). The Office of Thrift Supervision and Federal vex Insurance Corporation seized the operations of the bank and sold it to its yet bidder, J. P. Morgan.
Organizational Behavior Theory Predictions
The demise of Washington Mutual could have been predicted when in 2007 the institution started struggling when times were good. J. P. Morgan offered to cloud out the institution but was steered away to another...If you want to get a full essay, order it on our website: Ordercustompaper.com
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