Human Resource Management in Multinational Banks in Tanzania
Towards the end of 1980’s, however, the views of “African socialism or Ujama” began to experience a series of extremely hard internal and external economic shocks. Internally, the Ujama system could not work effectively to alleviate the levels of poverty. Bureaucratic inefficiencies, lack of responsibility and weak performance of collective farms and factories and the …show more content…
Standard Bank Ltd. in Tanzania:
Standard Bank had business operations in Dar Es Salaam, Mwanza and Arusha of Tanzania. Like Citibank, it did not provide financial services to local customers. Mission of the bank was to offer guidance and expertise in the financial industry for its customers’ needs. It offered a range of commercial banking products, treasury markets, credit and foreign currency transfers to customers in the private sector.
Strategic management and business activities in the host nation, including HR functions, were directly controlled from the head office in Johannesburg before being passed to the country head office in Dar Es Salaam. The bank had two branches in Dar Es Salaam, one in Arusha and one in Mwanza. An integrated organizational system is present in and across the bank head office and branch offices. The atmosphere of work was very relaxed. During tea and lunch breaks, employees mingled with their employers in common lounges. All common lounges had local TV channels, which