Assignment # 04

Name:

Naila Arshad

Class:

BBA-7B

Enrollment No. 01-111132-237

Submitted to:

Cdr. Muhammad Akram

Date:
Subject:

19 December, 2016
Career Management & Planning

Department of Management Sciences

BAHRIA UNIVERSITY, ISLAMABAD

CASE
1

George the Banker

Q-1 How would you rate Obelisks approach to the dismissal of George?
what could she or should they have done differently?
First of all, I would say that it as an unfair dismissal. Because they didnt give
any prior notice to George before dismissal. It is a wrongful dismissal in which
an employees contract of employment has been terminated by the employer. So
Obelisks approach is not considered to give any rating system. It is an opposite
of human rights. So I dont give any rate for Obelisks approach.
If they wished they had taken the following decision:
They Should restructure their policy to run their Obelisks bank
successfully.
They should create employment opportunity for the employee of
Obelisks Bank to the large bank where large bank takeover the Obelisks
Bank from another state.
They had to confirm that large firm would buy their bank which was a
rumor
to their employee.
They could explain their problem and share their financial position that
there is no possibility to run the company successfully. So they should
advise their employees to switch in another bank within few months.
They could give a notice about the dismissal process before the final
decision.
Q-2 why do you think George was blindsided by his dismissal? Do you
think there was any way he could have seen the dismissal coming?
Yes, I think George was blindsided by his dismissal because he never sees that
dismissal is coming and he was not really preparing for it. Because George
began to reflect back on one of the many saying his high school football coach
had told his players-"The worst hit in football is when you are blindsided,
because you never see it coming and you really can't prepare for it." George
now had a better appreciation than ever for his old coach's words of wisdom. In
the late afternoon that day, he had gotten a call from one of the secretaries in
Human Resources that the head of HR needed to see him immediately. The
message from the senior vice president of

Human resources was delivered frankly. Obelisk was cutting costs as a means to
crush off the takeover, and several officers were being targeted for dismissal.
For the past 3 months, Obelisk had been abuzz with rumors that it was the
object of a takeover by a large bank from another state. The bank's senior
management had even written an open letter to the employees, telling them, in
no uncertain terms, that the bank was not for sale and that the management
would resist any and all takeover bids. George felt encouraged by the letter to
the employees. He personally believed that the banks' senior management
would take whatever steps were necessary to keep the bank from being
acquired. Thats why I dont think so that there was any way he could have seen
the dismissal is coming.

Q-3 why do you think George opted for security over opportunity every
time?
When George got home, the house was empty. His two daughters were out, and
his wife was working until 10 that night. George rarely had a drink after work,
but tonight was different. He eased back in his chair, sipped his drink, and
thought. About 20 years ago his college roommate had prodded him to join his
firm. The salary was about the same, but they would pay for his MBA degree.
Also, the chances to move beyond accounting and into more general
management were strong. Twelve years ago, George's cousin had encountered
him to join her at her fledging CPA firm. He could have come in as her partner,
but the income was less certain and the benefits were nowhere near as good as
they were at Obelisk. George networked extensively when he was younger,
which had led to other solid job opportunities over the past several years. The
bank was like a rock. George had what most would consider a "good job", vice
president in the accounting department of Obelisk Bank. Obelisk was a
medium-sized regional bank with just more than $2 billion in deposits. At 54
years of age. George had believed he would retire comfortably from Obelisk on
his own terms and when he decided it was time. George had begun working at
Obelisk nearly 23 years ago. And he knew two things-the bank offered security,
and they would never let him go because he was too valuable. Thats why
George became depressed as he grasped the reality that he had opted for
security over opportunity every time.

Q-4 Do you think George has a right to a bitter at Obelisk?

George started feeling bitter. He had given his life to Obelisk, willingly working
nights and weekends when necessary. He recalled the times he missed his
daughters' school functions because he was so dedicated to the bank. He had
never ever taken more than a week of vacation at a time because he believed he
was needed too much at the office to spare more than a week. So George has a
right to a bitter at Obelisk.

Q-5 Should George take the early retirement option or the severance
package? What do you see as the key issues for George as he decides to do
with his career in the short and over the long term?
George was given two options. The bank either would "credit" him with an
additional 3 years of service so he could take early retirement or earn a full
pension when he turned 59.5 years of age, or it would give him a severance
package of 1 years' salary, 6 months of medical coverage, and 3 months of
outplacement services. George was given until the next day to make a decision,
but with either option, his last day at Obelisk would be on Friday, just 3 days
away. Employees may be identified for layoff using a number of factors,
including business needs, job functions, and employees length of continuous
state service. Severance benefits are based on salary and length of continuous
state service and may sometimes be used by eligible employees for enhanced
retirement. So in my point of view George should take severance package.
Key issues for George related to his career could be:
In short term at present, if George employer approached him out of the blue to
have a frank discussion about ending his employment, he could use this as
bullets and claim constructive dismissal assuming that he has the qualifying
period of service by arguing that his continuing role is weak.
In long run unless If George already has another job to go to, it is not easy to
discover how long he will be out of work, but as a general rule of thumb, a
payment equivalent to six month's salary is considered to be a good settlement.
This is especially as the first 30,000 of his settlement is capable of being paid
without deductions for tax. Any offer will depend on the circumstances leading
up to the discussions and the relative strength of any claim he may have.

Q-6 If you were to make a prediction, what do you think Georges career
and life will look like five years into the future?

Making prediction about Georges career and life will look like five years into
the future. He would prefer his career rather than his personal life. He would
like to remain stay in his existing position as an assistant controller in the
accounting department of obelisk bank. Because as a career oriented person he
got the success at very early stage of his career. His early career at the bank had
progressed nicely. George was generally pleased with his work and his records
of achievements. The bank either would credit him with an additional 3 years of
service so he could take early retirement or earn a full pension when he turned
59.5 years of age. After retirement as a CPA it would be beneficial for him into
the future for his life and career as he would saw his role as breadwinner of the
family: For financial, emotional, and psychological reasons. CPAs can earn
more and have the potential to advance higher in their careers than non-certified
accountants. And after five years he could attain the opportunity to join
insurance company or a bank. Many companies are large enough and complex
enough to require the ongoing expertise of an in-house accountant. As an
accountant, he may find himself working for a manufacturing firm. As the world
becomes more interconnected via global systems and international commerce,
the need increases for CPAs to keep current with both domestic and
international accounting standards, as well as with new technologies that assist
management in making decisions. CPAs are expected to be at the top of their
profession. Those who audit corporations and advise clients on accounting
systems need to keep current on developments that inform or impact
accounting.