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    Managing Diversity at Cityside Financial Services: Section E - Group 3

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    Sumit Gaurav
    This document summarizes the diversity management strategies at Cityside Financial Services. It details how the company was originally founded to serve white, upper-middle class neighborhoods but was later bought by racially diverse investors in the 1970s. A two-pronged strategy introduced divisions for retail operations focused on the local community and external deposits targeting other investors and clients. Over time, the client and employee bases became more diverse, but biases and lack of coordination between divisions led to disagreements. An investigation found stereotypes between divisions and unequal treatment of clients. Recommendations included serving all clients and staff equally regardless of race and implementing diversity training.

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    Managing Diversity at Cityside Financial Services: Section E - Group 3

    Uploaded by

    Sumit Gaurav
    60 views9 pages
    This document summarizes the diversity management strategies at Cityside Financial Services. It details how the company was originally founded to serve white, upper-middle class neighborhoods but was later bought by racially diverse investors in the 1970s. A two-pronged strategy introduced divisions for retail operations focused on the local community and external deposits targeting other investors and clients. Over time, the client and employee bases became more diverse, but biases and lack of coordination between divisions led to disagreements. An investigation found stereotypes between divisions and unequal treatment of clients. Recommendations included serving all clients and staff equally regardless of race and implementing diversity training.

    Original Title

    Section_E_Group_3_Session_9

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    This document summarizes the diversity management strategies at Cityside Financial Services. It details how the company was originally founded to serve white, upper-middle class neighborhoods but was later bought by racially diverse investors in the 1970s. A two-pronged strategy introduced divisions for retail operations focused on the local community and external deposits targeting other investors and clients. Over time, the client and employee bases became more diverse, but biases and lack of coordination between divisions led to disagreements. An investigation found stereotypes between divisions and unequal treatment of clients. Recommendations included serving all clients and staff equally regardless of race and implementing diversity training.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    60 views9 pages

    Managing Diversity at Cityside Financial Services: Section E - Group 3

    Uploaded by

    Sumit Gaurav
    This document summarizes the diversity management strategies at Cityside Financial Services. It details how the company was originally founded to serve white, upper-middle class neighborhoods but was later bought by racially diverse investors in the 1970s. A two-pronged strategy introduced divisions for retail operations focused on the local community and external deposits targeting other investors and clients. Over time, the client and employee bases became more diverse, but biases and lack of coordination between divisions led to disagreements. An investigation found stereotypes between divisions and unequal treatment of clients. Recommendations included serving all clients and staff equally regardless of race and implementing diversity training.

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    You are on page 1of 9

    Managing Diversity

    at
    Cityside Financial Services

    Section E - Group 3

    2011007 Ajay Raj Bathula


    2011043 Aujasv Kumar
    2011226 Shailly Priya
    2011235 Shivam Verma
    2011252 Sumit Gaurav
    Cityside Financial Services
    • Founded in late 1930s
    • Catering to white, upper-middle-class neighborhood
    • Bought by a group of racially diverse investors in 1970s
    • Two-prongs strategy introduced by Ron Wilkins
    • Goal: Rebuild the Community, grow a client base
    Sales Division
    Retail Operations External Deposits
    ● Service other investors
    • Personal savings account
    ● Offering portfolio of
    • Small business loans money market accounts
    • Home and real estate ● IRAs
    mortgages ● CDs
    • Geared towards local
    community
    Change in Demographics
    Change in Client Base Change in Professional
    Staff Base
    ● Predominantly White Male
    ● Urban
    ● White
    L ● Upper-middle class
    L

    Retail operation External Deposits

    ● White
    ● Diverse staff
    ● Working class ● Minority hiring
    ● Middle-class
    ● College
    ● African-American families program Graduates
    ● Females
    ● Women ● African-American
    The Disagreement
    • Red flag raised
    • Limited services offered by Sales Division
    • Better treatment of External Deposits’ clients
    • Defining & categorizing customers
    • Lack of coordination
    Wilkin’s Investigation
    ● Achieving Bank’s efficiency by cross-
    fertilization
    ● Stereotypes between External deposits
    and Retail Operation
    ● Biases in perceiving the kind of work done
    by White/Black
    ● Biases in valuing the opinions
    Recommendations
    • Service on the basis of needs - eliminate race as a factor
    • Sensitive management of diversity - customers & staff
    • Equal representation of gender and race
    • Sessions to remove stigma about racial differences
    • Equal product opportunity for all
    References
    https://www.google.com/search?q=discrimination&source=lnms&tbm=
    isch&sa=X&ved=2ahUKEwizoN6H9-3rAhWTwjgGHQQOAFAQ_AUoAXoE
    CBYQAw#imgrc=opFKIH-sMWaneM

    https://www.google.com/search?q=Biases+in+races&source=lnms&tb
    m=isch&sa=X&ved=2ahUKEwjF6oL59-3rAhWO6XMBHT0yC-oQ_AUoAX
    oECA4QAw&biw=1280&bih=610#imgrc=zyJl21M5SeSxJM

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