Motivation in the Financial Services Industry
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This paper evaluates the discount brokerage industry in terms of Porter's five forces analysis. The paper then explores the concepts of job attitudes and job equity for both the manager and broker at a typical discount brokerage firm, and addresses the issues of motivation, role perception and the inequality of the industry.
From the Paper:"Stock trading has come a long way since 1792, when a group of stock dealers and traders agreed to provide business to each other in an agreement named after the buttonwood tree at 68 Wall Street where they traded. This group evolved into the New York Stock Exchange (NYSE). Those shut out of the trading continued trading on the streets and carried it by driving hard bargains on the trading floor. This early competition has intensified many times over in the subsequent years and has, in fact, become the lifeblood of the American economy. There is virtually no aspect of daily life that is not influenced by the condition of the market.
"Early in the 20th century, the National Association of Securities Dealers (NASD) launched automated quotations in the electronic market. The NYSE fought back, touting the superiority of the auction floor over electronic trading, even as an increasing number of institutional trades took place off the floor. With unprecedented flows of money coming into the market, some standardization was obviously necessary. This led to the 1933 Glass-Steagall Act, which among other things ensured that financial service providers were no longer permitted to offer more than one service."
Cite this Analytical Essay:
Motivation in the Financial Services Industry (2003, October 23) Retrieved February 22, 2020, from https://www.academon.com/analytical-essay/motivation-in-the-financial-services-industry-33364/
"Motivation in the Financial Services Industry" 23 October 2003. Web. 22 February. 2020. <https://www.academon.com/analytical-essay/motivation-in-the-financial-services-industry-33364/>