According to the research findings, it can, therefore, be said that in terms of management, when one tends to define the job’ s authority then it is referred to as delegation. It is the sole responsibility of the managers in order to decide the level of authority the individuals in the organization need to possess in order to complete the task. In simpler terms, it can be stated that the authority provides an individual the right to make decisions without consulting or taking approval of others. It has been evident that the Royal Bank of Canada restructured its mortgage process in order to remain more decentralized.
It has been apparent from the above organizational structure of the Royal Bank of Canada that the authority to make the decisions is held with the CEO of the company Mr. Gordon Nixon. He holds the position of the leader for achieving cohesion and direction among the various organizational units as well as individuals of the bank. There is various personnel working under the CEO. The job design of Royal Bank of Canada has been segregated into various departments such as capital market analyst, international banking executives, wealth management executives, human resource executives, Chief Financial Officer and others.
It is worthwhile mentioning that individuals are assigned to accomplish each of the above mentioned specialized tasks. This makes it relatively easier for the bank to achieve the goals of the organization. The organizational structure of the organization tends to focus on various activities of the organization. In case of the Royal Bank of Canada, it has been noted that the bank has been following geographical departmentalization. Although this will tend to reduce the cost since the resources will be located quite near to the customers and thus the bank will be able to respond to the requirements of the different markets, it becomes cumbersome to coordinate across various departments.
Therefore, in addition to following the geographical departmentalization, the Royal Bank of Canada can also follow the product departmentalization since the bank offers various products and/or services to its customers.
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