Abstract
The move from community to individual is explored in this chapter. Newer workers are often described as being less loyal; however, loyalty is closely associated with care and commitment. The Bank and its workers have experienced a shift in the care relationship and this has had consequences on the perception of a successful worker. In the modern world communities are being broken up and mechanical societies are being transformed into organic societies which place bonds of contract over bonds of social cohesion. The break-up of communities leads to anomie where workers scramble to fit into the new fragmented societies with little indication of how to be successful. Organisation boundaries have become flexible and loose allowing external influences to determine their character. These are the features of the contemporary transformed organisation that must face new high-tech challenges.
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Notes
- 1.
The Irish Times: Bank of Ireland: Meeting of the General Court of Proprietors. February 25th 1966.
- 2.
- 3.
See Royce, 1908. The Philosophy of Loyalty. New York: Macmillan; Victor and Cullen, 1988, The Organizational basis of ethical work climates. Administrative Sciences Quarterly 33(1); and Coughlan, 2005. Employee Loyalty as Adherence to Shared Moral Values. Journal of Managerial Issues.
- 4.
Royce (1908, p. 15).
- 5.
Ibid., pp. 16–17.
- 6.
Coughlan (2005, pp. 45–47).
- 7.
Royce (1908).
- 8.
Leung, 2008, Matching ethical work climate to in-role and extra-role behaviours in a collectivist work setting. Journal of Business Ethics.
- 9.
Coughlan (2005, p. 49).
- 10.
Leung (2008, p. 51).
- 11.
Daly & Lewis, 2000. The concept of social care and the analysis of contemporary welfare states. British Journal of Sociology 51(2), p. 283.
- 12.
Ibid., p. 285.
- 13.
Arthur, 1994. The Boundaryless Career: A new perspective for organizational inquiry. Journal of Organizational Behaviour 14(4).
- 14.
Durkheim, [1893] 1933. The Division of Labour in Society. New York: The Free Press.
- 15.
Durkheim ([1893] 1933).
- 16.
Ibid.
- 17.
Ken Morrison, 2006. Marx, Durkheim, Weber: Formations of Modern Social Thought. London: Sage, p. 161.
- 18.
See also Bob Ryan With a tap on the knee: Memoirs of a reluctant banker. Dublin: MIS Books; Des Smyth & Eilis O’Brien, 1998. Golden Guineas.
- 19.
As described by Robert Putnam in his seminal work “Bowling Alone”.
- 20.
- 21.
Sveningsson & Alvesson, 2003. Managing managerial identities: Organizational fragmentation, discourse and identity struggle. Human Relations 56(10), p. 224.
- 22.
Morrison, p. 224.
- 23.
Durkheim, 1897 [1951]. Suicide: A Sociological Study. New York: The Free Press.
- 24.
Ibid., suicide pp. 207–209.
- 25.
Ibid., p. 215.
- 26.
Morrison, p. 227.
- 27.
Morrison, p. 229.
- 28.
See Schwab: The Fourth Industrial Revolution: What it means, how to respond. At the World Economic Forum: https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/
- 29.
See Berman, 1970. The Politics of Authenticity: Radical Individualism and the Emergence of Modern Society. London: Verso.
- 30.
Keohane and Kuhling, 2004. Collision Culture; Transformations in Everyday Life in Ireland. Dublin: Liffey Press.
- 31.
See Schein 1992, Organizational Culture and Leadership. San Francisco: Jossey-Bass Publishers.
- 32.
See Hatch & Cunliffe 2006, Organization Theory: Modern, Symbolic and Postmodern Perspectives. Oxford: Oxford University Press, p. 186.
- 33.
Schein (1992).
- 34.
- 35.
Phan, 2001. The Wisdom of Holy Fools in Post Modernity. Theological Studies 62(4); Kavanagh, 2012. The University as Fool.
- 36.
Connerton, 2008. Seven Types of Forgetting. Memory Studies.
- 37.
Following the concepts of Pierre Bourdieu, 1986. The Forms of Capital.
- 38.
DiMaggio and Powell, 1983. The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields. American Sociological Review.
- 39.
Ibid., p. 50.
- 40.
Ibid.
- 41.
Duff McDonald, 2003. The Firm. The Story of McKinsey and its Secret Influence on American Business. New York: Simon & Schuster.
- 42.
DiMaggio and Powell (1983).
- 43.
Ibid.
- 44.
Beckert, 2010. Institutional Isomorphism Revisited: Convergence and Divergence in Institutional Change. Sociological Theory 28(2); DiMaggio and Powell (1983).
- 45.
Beckert (2010).
- 46.
- 47.
For more about the rise of FinTech: Dietz, M; Vinayak, H V & Lee, G, 2016: https://www.mckinsey.com/industries/financial-services/our-insights/bracing-for-seven-critical-changes-as-fintech-matures; Dietz, M; Moon, J & Radnai, M, 2016: https://www.mckinsey.com/industries/financial-services/our-insights/fintechs-can-help-incumbents-not-just-disrupt-them; Cleary, S. et al., 2018: https://www.mckinsey.com/industries/financial-services/our-insights/fintech-decoded-the-capital-markets-infrastructure-opportunity
- 48.
Arnold, M, 2018. Monzo poised to join ranks of Europe’s Fintech Unicorns. Financial Times.
- 49.
Lewis, T, 2017. Is Monzo the Facebook of Banking? https://www.theguardian.com/technology/2017/dec/17/monzo-facebook-of-banking
- 50.
Arnold, M, 2018. Monzo poised to join ranks of Europe’s Fintech Unicorns. Financial Times.
- 51.
https://www.fca.org.uk/firms/regulatory-sandbox/sandbox-tools; https://ec.europa.eu/info/publications/180308-action-plan-fintech_en; https://www.enterprise-ireland.com/en/funding-supports/company/hpsu-funding/competitive-start-fund-fintech.html https://www.bankofireland.com/app/uploads/assets/OMI020235-Open-Banking-Customer-Guide-NI_v7.pdf
- 52.
Dietz, M; Vinayak, H V & Lee, G., 2016: https://www.mckinsey.com/industries/financial-services/our-insights/bracing-for-seven-critical-changes-as-fintech-matures
- 53.
- 54.
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Tuite, A. (2019). Transformations of Care and Community. In: The Lost Art of Banking. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-030-12199-0_5
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