Monique Leroux Leading Change At Desjardins Harvard Case Solution & Analysis

INTRODUCTION:

Desjardins is the Canada’s largest financial cooperative and the sixth largest in the world. It offers a wide range of financial products and services such as life and health insurance, casualty insurance, wealth management, securities brokerage, services to business of all kinds, assets management, venture capital, and secure and leading-edge virtual access management.

Desjardins groups the largest private employer in Quebec with 45,000 employees. According to results in 2013,the company’s assets, equity, revenues and surpluses have posted on average annual income increase of 8% over the past 10 years. The Desjardins has more than 7 million clients and members, with $229 billion in total assets.

The basic motive of the Desjardins is to provide quality services to the customers, with clear priority of growth and efficiency. The company innovates and invests heavily on technology. With the creation of Monetico partnership with Credit Mutuel, the company offers clients and members secure and innovative payment solutions. Desjardins also plays and important role nationally as well as internationally, as it is involved in major and support cooperative development in Canada and elsewhere in the world.

Desjardins attaches great importance to provide training and development to its elected officers and employees to further gain more knowledge, skills and abilities that required in the future growth of the company, through Desjardins Cooperative Institute. Desjardins also conducts transactions and forms partnership to better serves its members and clients, to continue grow and to develop new markets.

Vision & mission:

To contribute in improving social and economic well-being of people and communities.

CASE ANALYSIS:

Monique F. Leroux was elected as a Chair of Broad, Chief Executive Officer of Desjardin group. She represents all Desjardins caisses and leads the largest financial group in Canada, with assets of $229 billion, which also ranks 4th in the world. Leroux is an active member on multiple broad of directors in Canada which includes Canadian Council of Chief Executives and the Founders Council of the Quebec Global 100 network. Recently, she was appointed as the Prime Minister of Canada to sit on the advisory committee on public service.

Under the leadership of Monique, the company has received a great deal of recognition. She has defined a performance-based strategy to envision the future of the Desjardins group that rooted strongly in the mission and vision of the company. Monique Leroux has chosen to focus on future growth, service and efficiency for the benefits of the members and clients and to improve the financial growth of the organization. Monique is also dedicated towards her profession and to community to provide quality services that satisfy the customer’s needs and demands.

Ms. Leroux is the mentor and sponsor to many women, encourage them to develop skills, abilities and knowledge in order to compete in the corporate world. In order tobuild pipeline for women in banking, Ms. Leroux has helped Desjardins to provide scholarships and internships to the young women who are interest in finance. She successfully brought change by removing gender discrimination and creating a culture of inclusion.

According to the case, In 2012, Ms. Leroux and her team implemented a change structure in the organization and overcome many obstacles in the change process and produces number of success which leads to high profitability in the company, but there are many other obstacles that need to be overcome in order to sustain the growth of Desjardins such as culture in differences, communication gap, and demanding and changing financial crisis.

Monique Leroux Leading Change At Desjardins Case Solution

Furthermore, organizational issue in Desjardins is that the different subsidiaries do not trust each other and does not share information which leads to miscommunication among the employees of the organization. Each department whether it is human resource, finance, risk management, and marketing are working independently. This lack of cohesion creates different inefficiencies which is not good for the future of the organization.

In order to come up with possible alternatives and initiating a solution, it is necessary to analyze company’s strength, weaknesses, opportunity and threats.

SWOT ANALYSIS:

STRENGTHS:

  • Product and services:

A major strength of Desjardins is that it is the largest cooperative financial institution in Canada. The company provides quality products and services to its clients and members. It provides personalized services in French in all three branches.

  • Additional Services:

Furthermore, services and facilities are provided by Desjardin to its members such as ATM service availability 24 hours in French, Spanish, and English, Superior customer services, and high customer satisfaction, no additional fee charges on withdrawals, transfers and balance verifications..............

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