Prepare a four-page paper response to the Rob Parson at Morgan Stanley case study by answering the questions below.

Our academic experts are ready and waiting to assist with any writing project you may have. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs.

GET A 40% DISCOUNT ON YOU FIRST ORDER

ORDER NOW DISCOUNT CODE >>>> WELCOME40

Prepare a four-page paper response to the Rob Parson at Morgan Stanley case study by answering the questions below. The four pages should be in addition to the title and reference pages and in APA format. Rob Parson at Morgan Stanley (A)
1.Evaluate the pros and cons of a 360-degree evaluation method.
2.Evaluate the effectiveness of the Morgan Stanley performance assessment and managementsystem.
3.What recommendations would you make to improve the performance evaluation process?
4.What recommended changes would you make to the evaluation instrument?
5.To what extent was Rob’s manager responsible for making Rob successful and how do youthink he did? What could he have done differently? What challenges did he face?
6.What should the HR Manager recommend in terms of Parson’s performance? Should Robstay with the company? If so, how should the performance assessment and managementsystem be altered?
Harvard Business School 9-498-056
Rev. January 19, 1999
Professor M. Diane Burton prepared this case as the basis for class discussion rather than to illustrate either effective or
ineffective handling of an administrative situation. The circumstances and material incorporated in this case have been
made available through the cooperation of the individuals and the company involved. Some names and situations have been
disguised.
Copyright © 1998 by the President and Fellows of Harvard College. To order copies or request permission to
reproduce materials, call 1-800-545-7685 or write Harvard Business School Publishing, Boston, MA 02163. No
part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in
any form or by any meansóelectronic, mechanical, photocopying, recording, or otherwiseówithout the
permission of Harvard Business School.
1
Rob Parson at Morgan Stanley (C)
It was the first week of November of 1996, and Gary Stuart, a new managing director (MD) at
Morgan Stanley, looked at his calendar with dread. It was almost the end of the year and that meant
he had an enormous amount of work ahead of him. Stuart had been promoted the preceding year,
and with his promotion had been tapped to head a group of twenty-four professionals in the Capital
Markets Division, including Rob Parson. Now, in addition to servicing his clients, Stuart suddenly
had a lot of administrative work. Year end meant managing the performance evaluation process for
all of his direct reports and conducting the one-on-one career development conversations. It also
meant actively participating in discussions with the four other MDs in Capital Markets about this
year’s promotion candidates.
The Capital Markets division had to put forward a list of people that they were sponsoring
for promotion. The problem was that Parson, one of Stuart’s direct reports who was one of the
division’s star producers, was seen by a number of people within the firm as being difficult to work
with. The extent of the difficulties had been made clear in last year’s round of performance
evaluations. Stuart and Parson formerly had been peers. Now Stuart was in the position of coaching,
developing, and evaluating Parson.
From his own perspective, Parson was aware of both his strengths and weaknesses:
I’ve never read my reviews, but I would guess that they would have said,
“Jerk, rough around the edges,” but they also would have said, “Knows how to sell.”
Parson had been eligible for promotion to managing director a year earlier but had not been
put forward. Paul Nasr, his manager at the time, felt that he did not yet have the profile of a Morgan
Stanley managing director. He had also been concerned about the signals that it would have sent:
The fact that I was his boss, and a message was being sent to everybody, set
him back a year. There is no doubt that I was harsher with him than I would have
been with a professional who had been recruited out of business school and had
come up through the ranks at Morgan Stanley. This was a situation regarding a
person that I had hired from my previous life who did not fit perfectly with the
Morgan Stanley system. I wanted to make sure that nobody could question my
integrity about the process.
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
498-056 Rob Parson at Morgan Stanley (C)
2
Parson described his own reaction to the situation:
How could I let this place do this to me? I’m better than that. The main
reason that I didn’t walk was that I worried about losing credibility with clients. It
hurt. Believe me. But it also made me say, “I’m going to show this firm that I can do
whatever it takes.”
Based on the feedback that he had received the previous year, Parson knew he needed to
temper his style. Both he and Stuart recounted a particularly visible incident that occurred earlier this
year. During an out-of-town trip to visit a client, Parson berated a co-worker, a young vice president,
reducing her to tears. Parson explained the context:
Everybody knew that I couldn’t stand her. She had a different style than
mine. I don’t know, I always felt she was a little bit lazy. She was responsible for this
one product area, but I always felt like she didn’t really want to do the work. She
wanted us to do the work for her product, and I always resented it.
The woman had prepared the “book,” the slides and graphics that were the basis of the client
presentation, and had neglected to include descriptions of recent successful deals in the same
industry. Just before the client appointment, the two met at the Detroit branch office to go over the
presentation. Parson described his reaction:
To be fair, I should say that I really had no patience for her. I said, “If I hadn’t
been here, I may never have known that you were coming out to meet with a damn
bank, and we’ve been the number one provider of this product for banks, regional
banks in particular, like this bank. How dare you not spend five minutes, if you’re
going to spend your time and the firm’s money to fly to pitch this to the client, and
you don’t take the time to put in about the deals that we’ve done in their sector that
are relevant to them? It tells me that you didn’t spend two minutes thinking about
this, and that’s disgraceful.” I was on fire, I was so mad.
Stuart recalled the event:
I heard about it before they came back because she told her immediate
superior who told me. And I sat down with Rob when he came in, I said, “You know
you’re sabotaging yourself. What was the purpose of that outburst? Whether she
really did a lousy job is irrelevant, now. It doesn’t matter. That’s no longer the issue.
The book is absolutely poor quality. I agree, but it doesn’t matter. You’ve lost the
ability to argue the point because the whole issue now has become your behavior. It
doesn’t matter what kind of book she put together anymore. No one is going to listen
to that. If you really wanted to reprimand her for putting together poor quality work,
you should have done that and spoken to someone she works for. You shouldn’t
have started screaming at her right before you had to go to this appointment. And
now you’ve missed that opportunity, and you need to go and apologize.”
Now Stuart had to decide whether he could support Parson’s candidacy for managing
director. He felt strongly that Parson was an outstanding producer. Stuart talked about his overall
ability to do the job:
Some people do it well. Obviously, you have to do it well to keep your job
here. Some people do it extraordinarily well. And there are very few people,
“keepers,” if you will, at the top. Here we talk about it in terms of compensation,
“Who do you really want to pay?” Or, “If this were a small partnership, who would
you want to be on your team?” Rob clearly is one of those people.
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
Rob Parson at Morgan Stanley (C) 498-056
3
Although everyone acknowledged that he had made an effort, some felt that Parson still had
a long way to go. Nasr explained further:
He probably would have been more successful internally if he had taken the
time to build his own internal relationships and not worried about market share,
profitability, and immediate success. That would have played better with Morgan
Stanley. Instead, he said “I have a mission to build this business for Morgan Stanley,
and I’m going to do it.” He did not appreciate how much the firm values teamwork
and healthy interpersonal relationships. That’s where he really made mistakes. He
didn’t appreciate how important “corporate citizenship” was to Morgan Stanley.
Is he the sort of person who will always build consensus around him the way
a traditional Morgan Stanley banker would? No, he’s not. He’s never going to be a
guy with a go-by-the-book approach. But, with time, he could come close. He has
come close. He has improved tremendously, I give him enormous credit for how
much he has improved. I raise my hat. He took the message to heart in a lot of
different ways. He used to break eggs every day, now it’s once in a blue moon.
Parson’s evaluations all noted an extraordinary amount of progress on the “team player”
front, but some evaluators continued to express reservations about his “style.” (See Exhibit 1.) Stuart
had other concerns:
The hard part for me was the politics of the organization. We have to take
into account all these other comments, the cultural considerations which are
important, but also why it’s so important for Rob to be appointed to managing
director. This firm feels strongly about the signals that it sends. If I were running a
business just to make money, I would give him whatever meaningful or meaningless
title he wanted to keep him doing what he’s doing. But it’s not that simple here.
The promotion process had been further complicated by the fact that Stuart felt certain that
Parson would leave the firm if he was not promoted. Stuart recounted a conversation with Parson
that occurred towards the end of the year:
He said, “Look, I have done my absolute best. This is me. I have tempered it
as much as I can temper it and still do my job. So, don’t think that you can pay me
and keep me for another year or two years or whatever, that’s not what I’m
interested in. You are making a judgment on me now about whether I’m the quality
of person that can be a managing director here, and it’s this year. It has to be this
year, because this is as good as it gets.”
Promoting Parson would require mobilizing a lot of support from within the firm. Not doing
so would mean losing a valuable employee and a star producer and creating an empty seat in an area
important for the firm. In addition, Stuart felt strongly that Parson would be impossible to replace. He
was able to generate millions of dollars in revenues in a sector that historically had been break-even.
His exceptional abilities had most recently been very visible as Parson had single-handedly
developed a new market for an innovative (and very profitable) product. He had worked closely with
product specialists and helped them to customize a product for his clients. He then energetically sold
this new high-margin product, allowing Morgan Stanley to capture the number one market share
position. From Stuart’s perspective, this type of creative deal-making was what made Parson so
valuable to the firm.
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
498-056 Rob Parson at Morgan Stanley (C)
4
Exhibit 1 Robert Parson’s 1996 Firmwide Performance Evaluation
Robert L. Parson
PRINCIPAL – INVESTMENT BANKING DIVISION
Commercial Orientation
Evaluator Rating
Downward Comments
Within IBD
Person L (v) 6 • Outstanding. Excellent year for the bank coverage team. Rob took our banking business from
1.7% market share and our negotiated subordinated debt business from nothing to greater than
of 11% and number one in league table negotiated business in the bank sector.
• Rob is a great salesman who is able to gain clients’ confidence and trust quickly. Very aggressive
in pursuit of new business.
Person M 6 • Rob has contributed importantly to the group’s profitability this year. He is one of the group’s
top contributors despite a client group that has traditionally contributed little if anything in the
way of profitability. He has focused appropriately on the profitable opportunities that the banks
offer and has done a nice job converting them.
Person A 6 • Has arguably produced the best MS results in bank new issue debt sector in years. Has excellent
client relationships. Almost always in the hunt for business. I can’t think of a trade that crossed
the tape without our knowing it. This is not easy to do in bank sector. Extremely aggressive.
Colleague Comments
Within IBD
Person N 6 • Rob has had an outstanding year. In the clients we share, he has been invaluable in both
generating mandates and following through to make sure the client was satisfied.
• Rob’s efforts were critical in securing several important mandates from one particular client.
Almost single handedly, Rob turned around another client and secured an important preferred
stock offering. Both mandates were the first of their kind in the bank sector and led to other
important mandates.
Person O 5 • Ability to influence clients, impact: Rob has been in the business a long time and has developed
good personal relationships with virtually all of the clients he covers. He has done a wonderful
job of taking clients and making them friends.
• I recently gave Rob the opportunity to win Morgan Stanley a role in the financing for PMI
insurance and largely on the strength of his presentation, we were awarded the mandate.
• Rob is articulate and persuasive and is not afraid to ask for the business.
Person P 6 • Rob has developed extremely good relationships over time with two clients with whom we work
together. Rob’s efforts in cross-selling the equity product to both of them have been extremely
helpful; first-time equity business is expected from both companies this year.
Person D 6 • Rob has extensive contacts with the banks stemming from his many years covering the accounts.
He also has breadth across many products: mortgage finance. When he makes a
recommendation the Firm can always follow through. One particular mandate was possible
based on his recommendation.
Person Q (v) 4 • Rob is very commercial and focused on the immediate profit opportunity. He has some very
good long-standing client relationships. His ability to impress new clients, particularly at senior
levels, is not as strong.
Person R 5 • Rob is an extremely commercial guy. He is not at all afraid to sell an idea or concept, and is very
creative when it comes to solving clients problems. As far as developmental areas, Rob actually
at times is too sales heavy. There are clearly times when clients do not want to hear a pitch and
Rob needs to be conscious of these periods.
Person S 6 • Have had two experiences with Rob getting business. Both times he has been very aggressive in
getting the business, and right on the mark in terms of levels and sizing.
• Has identified profit opportunities, but unfortunately does not have many resources on the Fixed
Income floor. Very good at knowing what will appeal to both clients and investors.
(v) Voluntary evaluation
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
Rob Parson at Morgan Stanley (C) 498-056
5
Person T (v) 4 • Rob possesses some good client relationships particularly with the people he has known for many
years. Despite some good relationships, he is not included to market all products to his well
known clients, so the relationships go unused.
• He is not very good with new clients and not very aggressive in pursuing new business
opportunities.
• Unwilling to help out on business plans.
Person U 5 • Rob has good relationships with clients and a strong eye for deal opportunities. His commercial
orientation is strong, but his focus can sometimes weaken at vital moments. He should spend
more time planning a strategy rather than reacting to events.
Person V (v) 6 • Rob has the best commercial orientation of anyone I have ever come in contact with at MS. He
has the ability to draw information from clients and then focus MS resources on the client to
maximize the profit potential. For example, he has done this with one particular client which
resulted in MS lead managing a credit card asset-backed issue.
• He has also done this with another company where he alerted the LA office of a potential
opportunity which MS is still pursuing.
• Thirdly, Rob’s focus on one bank has resulted in a lead managership for a subordinated debt
issue and productive discussions regarding asset backed debt issuance.
• Rob utilizes his experience that he had accumulated over the years and can be extremely creative
in addressing clients’ needs.
Person J 6 • Rob maintains a constant dialogue and comfortable relationships with his clients. He has been
the most active member of Capital Markets in identifying leads and providing introductions for
the share repurchase and equity derivative products. His clients consistently give us full
consideration and welcome his ability to bring other parts of the Firm to assist them in meeting
their objectives.
Person W 6 • One of the best new business market coverage officers I have ever worked with. Maintains
excellent relationships with his clients. Has strong influence with his clients enabling him to have
Morgan Stanley added to numerous ABS transactions.
• Any influence at one particular bank is what allowed this firm to level manage their home equity
ABD; a very important transaction to the building of our ABS effort.
• Very well respected by his clients and within the banking industry. Extremely well known. Also,
very well known within Morgan Stanley. Revenue contribution is superb. Very focused on
generating fees within each transaction.
Person G 5 • Rob has done a great job of building our position with banks from nothing two years ago to being
a major factor. He has been key in many bank deals. He is our key link at most banks for a
number of products such as bank notes. I think he does an excellent job of finding opportunities.
Person H 5 • Rob has done a great job of building our bank business over the past two years. Surveys indicate
that MS’ debt product is now viewed as competitive with that of our major competitors, whereas
it was not in 1994. In addition, our market share numbers have improved in 1996.
• Rob is a very aggressive marketer who influences clients to use MS. Generally, he has built good
relationships with his counterparts at the major banks on a personal and professional level.
Downward Comments
Outside IBD
Person X 6 • Rob has outstanding selling skills and is doggedly persistent in convincing clients to do business
with us. Clients are genuinely interested in what Rob has to say, as he tells the truth and gives
excellent advice.
• He has strong instincts for negotiating, as was evidenced in the solicitation process for several
transactions.
• Rob is always willing and able to sell a wide array of products which would be handled in
various areas of the Firm. Many MS professionals could learn a lot by watching Rob in action.
(v) Voluntary evaluation
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
498-056 Rob Parson at Morgan Stanley (C)
6
Professional Skills
Evaluator Rating
Downward Comments
Within IBD
Person L (v) 5 • Rob’s understanding of the bank business is thorough. His market knowledge allows him to
know what is important and how to create revenues from it. Highly committed and very hard
working. Always on the go. His judgment of bank deals is always spot on.
Person M 5 • Very hard working and diligent. Has a very direct style that is helpful in closing clients.
Excellent product knowledge both about the products banks can use and how banks operate, and
the specific drivers that make them successful.
Person A 4 • Excellent market and product knowledge. Strong initiative.
• Rob can be a difficult personality. He needs to moderate his aggressiveness internally and get
along better with all of his colleagues. Occasionally, does not work within the system. He is
improving, but needs to integrate his style with the Morgan Stanley culture.
Colleague Comments
Within IBD
Person N 6 • The bank group has had three different capital markets specialists since I joined MS. Rob is by far
both the most knowledgeable and the best salesman. Rob’s professional skills are uniquely
strong. In one deal we were given rate quotes by our desk. Rob took a position that our group
didn’t understand and gave views which were substantially more aggressive. This was
fortuitous as our competition was significantly more aggressive as well. As importantly, Rob saw
the deal through to completion, delivering on his promise to the client.
• If I had one constructive criticism for Rob it would be that he has to be a better listener in client
situations. Since he knows the markets and products so well, his tendency is to start talking
immediately without asking a few probing questions.
Person O 5 • Market and product knowledge: Rob is specialized within capital markets in that he focuses on
financial institutions. His knowledge of the industry as well as the products which are germane
to that industry is first rate. I have been to many meetings with Rob where the client is obviously
impressed and persuaded by the breadth of his knowledge.
Person P 5 • Strong interpersonal skills with both LA office and clients. Strong product knowledge and
market insight.
Person D 6 • Rob is effective because he understands all products including Mergers & Acquisitions.
• Rob can push the syndicate desk to achieve the best pricing for our clients.
Person Q (v) 2 • Rob has strong US market knowledge given his number of years in the business. This level of
experience is a real plus. He does not always articulate his knowledge in client meetings because
he does not always prepare well for meetings.
• Rob’s biggest challenge is interpersonal skills. No question he has made progress on the surface
but when any tension is introduced, he reverts to a very negative, blaming, unconstructive mode.
Person R 6 • Rob has outstanding product skills and market knowledge. He is smart, aggressive and very
committed to the Firm and his clients.
• His sense of humor and easy going nature make him very easy to get along with.
Person S 5 • Excellent knowledge of all products, not just fixed income. Plays well to clients. Genuine.
Clients feel that he is going to work hard for them and get the best pricing/execution. Although
a bumpy ride, do not believe we could have gotten the pricing on one particular deal (which the
client was pleased with) without Rob pushing the desk, sales force, etc.
Person T (v) 2 • Fairly good product knowledge overall.
• Does not communicate well. Does not respond to e-mails, voice mails or messages, which makes
people waste time and effort. Often calls people hysterically looking for answers that have been
passed on to him days ahead of schedule via voice mails or e-mails.
• Does not like others inside the Firm to meet with his clients. Feels others will ruin his relationship
or he will lose control. Extremely poor interpersonal skills, particularly with people inside the
Firm. Always in conflict with others.
(v) Voluntary evaluation
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
Rob Parson at Morgan Stanley (C) 498-056
7
Person U 4 • Good US domestic knowledge base, but needs to broaden understanding of global market place
to move professionally to the next stage. Good judgment and decision making.
• Communications skills could be improved by upgrading presentation strategy, and interpersonal
skills suit some people extremely well but can be abrasive to others.
Person V (v) 5 • Rob has a lot of experience in this sector and therefore has extreme knowledge of the market and
all the products. He is extremely aggressive towards new business opportunities and his
initiative and commitment are unquestioned.
• Rob could stand to work on his communication skills within the Firm. If he were able to keep
team members informed a bit better, he could increase both his own and the Firm’s effectiveness.
His ability to leverage the resources of the Firm is not maximized because he doesn’t keep all
parties fully informed all the time. However, I have seen improvement over the past year, and I
expect this will continue.
Person J 6 • Rob’s strong client relationships can be attributed to the value his clients place on his
product/market knowledge and advice. He is able to make each client fee that he is keeping
their best interest first in his mind and pursues this effort continuously.
Person W 5 • Banking sector knowledge is complete. Other knowledge is also very strong, given that it’s not
his primary focus. Client judgment is superb and his judgment on what business to pursue is
also excellent.
• Versatility across product types is complete. He is able speak effectively about all sorts of asset
types, which is very helpful for new business. His verbal communication skills are very strong,
but can at times be too aggressive.
• Also, his interpersonal skills need some work in that Rob is often too straightforward with
people. Needs to tone down his delivery.
• In summary, in all of my dealings with Rob his market knowledge has been very strong and his
client skills top notch.
Person G 5 • Rob knows his product, is well connected and has very good interpersonal skills. My accounts
like him and respect him.
• He is very helpful as new products develop and has had a good feel of what makes sense and
what has limited appeal. His market knowledge is excellent.
• Rob needs at times to script out his views before talking to a client to be precise re the markets.
Rob managed certain transactions very well and the clients were very happy with the results.
Person H 4 • Rob has very strong product knowledge and generally has better judgment regarding the pricing
of bank deals than the traders. For example, the traders thought a particular security should
trade significantly below par, a view with which Rob strongly disagreed. Rob refused to give the
below par quote to the Company and after further discussion everyone agreed with Rob’s view.
• Otherwise, I believe that Rob is hard working, is quite intelligent, and knows how to work the
system to get deals done.
• In terms of development, I will cite three areas. Although less frequent, Rob still makes
inappropriate comments regarding the quality of support he gets from corporate finance. Such
comments are counterproductive to Rob’s goal of building better relationships with the Bank
Group. Second, Rob can still be combative in how he presents his views. Finally, Rob still rubs
people wrong internally and externally because he is highly opinionated; however, there are
clients who appreciate his candor.
Colleague Comments
Outside IBD
Person X 5 • Rob has extensive knowledge of the financial institutions he covers and takes an amazing amount
of initiative in covering them. He is very confident in his abilities and has no problem in making
decisions.
• From a development perspective, Rob could buckle down and study a little more the
particulars/details of the products and services he sells.
(v) Voluntary evaluation
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
498-056 Rob Parson at Morgan Stanley (C)
8
Leadership and Management Skills
Evaluator Rating
Downward Comments
Within IBD
Person L (v) 3 • Rob has made tremendous progress in his relationships internally, but still has some work to do.
He has to learn to keep some thoughts to himself. Three years ago he used to break eggs every
week. Now it is once in a blue moon.
• Fortunately, his aggressive behavior is the reason for our success in the bank business. Rob is
trying to find the balance between being a good corporate citizen and the aggressive new
business getter that his sector requires.
Person M 5 • Drives others as hard as himself which at times results in some broken glass and hard feelings.
That, in my judgment, goes with the territory for someone like Rob, and you need that
personality type to cover the banks.
Person A 4 • Be sure to always treat colleagues with respect. Secretaries, too.
Colleague Comments
Within IBD
Person N 5 • Rob’s one flaw is that he tries to take on too much. He is doing a job which is handled by two or
more professionals at most of our competitors. Rob needs to rely more on his team.
Person O — • N.A.
Person D 6 • Rob has a dialogue with all bank group members. He keeps up to date on all mandates and
provides financing ideas as necessary.
Person Q (v) 2 • Rob is not someone who leads by example or positive energy. He does not inspire a team to do
their best. Has no patience for trying to listen to varying views and create a consensus.
Person R 5 • While Rob certainly has the charisma and poise to be strong leader and manager, I do not believe
that this is something that he focuses on.
Person S 5 • Unfortunately, Rob has limited support and is often put in the position of relying on others for
work, many times on a very short time frame. I think he handles this difficult situation well.
Always returns the favor if you need something. Very appreciative. Extremely easy to work
with. Spends time teaching his products and craft to others.
Person T (v) 1 • I don’t think of Rob as a leader. He manages and motivates resources by using threats, which I
don’t think is the right way to work with people. He does not communicate across groups.
Keeps information secret even about clients that we might be working together on.
Person U 4 • Rob is generally good at spotting specific business opportunities but needs to focus more on a
strategic approach to business development. He tends to focus on opportunities situations which
can be very profitable but doesn’t manage resources well enough to take broader relationship
issues.
• Rob is well-respected. People will work willingly with him to be part of his team.
Person V (v) 5 • Rob leads by example. He looks after the members of his team which draws support. He is quick
to point out areas for improvement but just as quick to praise subordinates for good work. I
think this immediate feedback, both positive and negative is good despite the fact it creates some
uncomfortable situations. Too many times, managers don’t provide meaningful feedback.
Everyone knows where they stand with Rob which I believe is extremely good for the team.
• Rob has improved his communication ability, especially within the Firm tremendously within the
past year. After coming to MS 3 years ago, I think Rob now feels a part of the Firm, and makes
every effort to involve other professionals within MS.
Person W 4 • Excellent instructor. Is able to have the team in his group focus on the right priorities and very
much motivates us to service our clients who are not doing deals and not being active. Rob tends
to only update people when the client is actively looking for the sure thing, but we would like to
know even if they’re not currently interested.
• Could develop more sensitivity to others, especially the firm top performers. To treat everyone
equally should be his goal.
(v) Voluntary evaluation
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
Rob Parson at Morgan Stanley (C) 498-056
9
Person G 5 • Rob is spread very thin and I think this takes away from his time to develop and manage not only
people but the process. He is always ready and willing to help but with limited resources it is
hard to be as prepared with something that can be given to the account.
• He communicates well and frequently and treats all of our people with respect and fairness.
Person H 4 • My observations in this area are more limited. In terms of Rob’s relationship with some
subordinates, I believe that Rob has been too controlling and they need more independence.
Instead of being Rob’s backup on accounts, he should allow his juniors to build their own
relationships and cover more senior people.
Outside IBD
Person X 4 • I have not observed Rob’s management skills closely. He has communicated well with me.
• One suggestion for Rob is to focus on improving relationships that are not perfect. He has a
tendency to write off people who are less than perfect rather than attempting to work with them
to improve their skills and their relationship.
(v) Voluntary evaluation
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
498-056 Rob Parson at Morgan Stanley (C)
10
Firm Contribution
Colleague Comments
Within IBD
Person N 6 • Communicates well with the bank group. Has also helped us develop a few new corporate
finance relationships.
Person O — • N.A.
Person P 6 • Rob is an outstanding team player, his efforts to win non-debt business should be recognized.
Person D 6 • Rob has introduced me to a number of accounts. Because of Rob’s contacts, we were able to
make significant progress with one particular account this year.
Person Q (v) 1 • Rob has trouble working in a team because he is afraid he will be shown up. He regularly refuses
to introduce other product groups to his clients or restricts access.
Person R 5 • Rob is clearly a team player. He is always willing to make the extra effort to speak with or go out
to see other people’s clients.
Person T (v) 1 • Rob is not a team player. He does not like involving others with his clients. Is extremely
protective. Likes to work alone.
Person U 4 • Rob is a strong individual performer and fits in well with teamwork, although it is not his forte.
• He is a risk-taker although he tends to bring in colleagues at too late a stage in the process to
maturely influence clients. If he can alter this aspect of his performance he would be an
extremely strong, all-around business generator.
Person V (v) 5 • As I mentioned in the previous section, Rob improved his team player skills substantially in the
past year. I know he has worked extremely hard at including all the various areas of the Firm in
order to maximize the positive outcome. For example, Rob has been diligent in checking certain
people about the relationships his commercial bank client base has with the Firm in order to
protect or leverage these relationships.
• He is very aware of the Firm’s franchise and makes a great effort to protect and build the
franchise.
Person J 6 • Rob has gone out of his way to identify and capitalize on business opportunities for the share
repurchase product effort. He has also provided numerous introductions that have proved to be
quite helpful to our Group’s efforts. He supplements our efforts by praising our capabilities
when he is talking to his clients.
Person W 5 • Focused on preserving our franchise and our lending position in bank debt. Does help the other
groups in the Firm in generating leads and business, and is very useful in helping to build
relationships.
• Very willing to take aggressive risks for the Firm, risks that have paid off.
• Could be more of a team player through treating everyone in the Firm more equally.
Person G 6 • Great in all respects. One of the few who really understands the overall account relationship. He
gives good insight as to what is happening at banks. He fully utilizes all areas of the Firm.
Outside IBD
Person X — • Rob has given great assistance to our effort over the past year. He is always willing to make the
calls or get on a plane to try to land a mandate. He works aggressively on the Firm’s behalf, and
cares deeply about our franchise.
• From a development perspective, Rob should continue to work on his team player skills as he
sometimes comes across as not being a team player, even though I have seen him do nothing but
work hard on our collective behalf.
(v) Voluntary evaluation
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
Rob Parson at Morgan Stanley (C) 498-056
11
Overall Rating and Summary Comments:
Is this individual on track?
What does this individual need to do to get to the next performance and/or promotion level?
Downward Comments
Within IBD
Person A 5 • As soon as he adjust further his style internally, he’ll have my vote for promotion.
Colleague Comments
Within IBD
Person N 6 • If the Firm wants to continue to do well in the capital markets area for Fixed Income Group, Rob
is a critical part of our strategy. As stated previously, he knows the markets well, he has a
number of excellent relationships and he has an excellent instinct for winning mandates
Person O 5 • I believe that Rob has developed business for Morgan Stanley this year simply on the strength of
his coverage efforts. I believe he is somewhat hampered currently due to Morgan Stanley’s less
than ideal market share in tax-deductible preferred stocks which is obviously an area where
banks are spending a great deal of their time.
• In virtually every product where Rob has an even playing field, I have found him to be extremely
effective. I believe he is on track.
Person P 6 • Yes
Person D 6 • With one subordinate only half-time on financial institutions, Rob sometimes is spread too thin.
Person Q (v) — • Rob needs to revamp his approach to be on track.
Person R 5 • Rob is clearly on track. He has strong product skills, a good rapport with clients and
communicates well. He must, however, remain aware of his tendency to oversell.
Person S 5 • Rob is in a very different situation, he has coverage of all financial institutions with limited
support. Given the resource limitations, I think Rob does an excellent job selling the Firm’s
expertise in the fixed income area.
• Very knowledgeable about markets, pricing, reactions and is honest with clients.
Person T (v) 2 • I feel that in order for Rob to be able to reach the next level, he needs to learn how to work with
all groups across the Firm. Rob needs to learn to communicate more effectively, motivate people,
using methods other than threats, and introduce the resources of the Firm to his clients.
• Needs to be less possessive about what he considers to be his clients.
Person U 4 • Not quite on track. Although aggressive and strongly motivated, needs to develop team work
skills.
Person V (v) 6 • I believe that Rob has made significant strides at integrating himself into the MS culture, and feel
he has all the tools to be a Managing Director at the Firm.
• His product and market skills combined with his drive and initiative have resulted in a
substantial revenue improvement in the commercial bank business and deserve to be rewarded.
Person W 5 • Continue to focus on his ticket assignments and full fee assignments.
• Also, build stronger relationships internally and continue to improve internal communication.
Person G 5 • At times Rob seems drawn in too many directions. It prevents him from being as organized and
disciplined as he might like.
Person H 5 • Rob is probably between the top 20% and top 30% category. I believe he is a good candidate for
promotion to MD. Without Rob, the progress we have made in the bank capital markets business
would be reversed. He has done a very good job with the accounts, and we have already had
frequent turnover in this position.
Outside IBD
Person X 5 • I feel Rob did an outstanding job in 1996 in covering his clients and in all of the assignments
which we worked on together. His commercial instincts are outstanding and he has a great pulse
on how clients think and react.
(v) Voluntary evaluation
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
498-056 Rob Parson at Morgan Stanley (C)
12
Three greatest strengths (provide examples):
Colleague Comments
Within IBD
Person Y (v) • Extremely focused on market opportunities; proactive with respect to identifying niches and
focusing coverage effort on pursuit.
• Highly responsive. Helps when asked and gives you a fast turn around.
• Well respected by clients. Does a great job in a tough sector.
Outside IBD
Person Z • Excellent commercial instincts. Rob is always able to identify and pursue making
opportunities for the Firm. He is very aggressive in pursuing business and not taking no from
the client. He forces MS to deliver a competitive product.
• Rob maintains great relationships. He covers an unbelievable number of accounts and knows a
huge range of people. He is always uncovering new leads and opportunities in his account
base. He covers a lot of accounts that have no, or only superficial, Investment Banking
Division coverage, making his contact of key importance Because a lot of these clients do other
Fixed Income business we would be in real trouble without the coverage which Rob provides.
• Rob cross sells all products, probably more than anyone else I see at the Firm. He has been
critical to expanding certain product lines among his clients and he has had to cover for the fact
that our dedicated resources in that area have been too thin. He has identified numerous bank
restructuring trades which have resulted in securities sales. He has found a lot of commercial
mortgage leads. Overall, his incidental production through these cross-selling leads has been of
huge value to the mortgage and real estate efforts. Without his presence we would not be in
nearly as good a shape as we are.
Person K • Aggressive sales approach. Rob has significantly increased our market penetration. He is
relentless in his pursuit of new business and maintains constant communication with his
account base. Rob’s efforts have been largely responsible for significant new relationships.
• Ability to marshal Firm resources. Rob has an excellent feel for what it may take to pull each
customer in. He uses me often, but prudently in the pursuit of new business. His requests for
me to pitch for business are always properly targeted and appropriate. More importantly, they
most often meet with success due to Rob’s sales efforts and his client instinct.
• Client relationships. Rob gets very high marks from the regional bank client base. He is in
constant touch with his counterparts which means he is always well aware of potential
business opportunities. In addition, clients genuinely like Rob’s approach which is a good
blend of aggressiveness and value added information flow.
Three areas most in need of further development. Indicate suggestions for development of these areas:
Colleague Comments
Within IBD
Person Y (v) • Parson has made substantial progress in his one real development area and that is client
sensitivity. He has gotten much better adapting his style to the different types of client.
Generally he’s just a lot easier to work with.
Outside IBD
Person Z • Rob needs to be more positive at all times. He kind of motivates himself by fear and paranoid
of missing business. Some of these feelings seem to attach to his view of life in general and that
can be distracting. He just needs to relax and calm down. I do not mean for this to sound too
negative, as he has made tremendous strides in this area, but it is an important thing for him to
continually focus on.
• Rob needs to take more interest in the career development of others. He could be a great
teacher and leader if he took more time. We have a lot of people who could learn from him.
Person K • At times, Rob may spread himself too thin. He could possibly do better with a more
concentrated effort on fewer accounts.
• Increased coordination with investment banking. Rob has made great strides in this area. The
further we move along this route the greater the revenue potential for MS.
(v) Voluntary evaluation
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact
customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
Rob Parson at Morgan Stanley (C) 498-056
13
1996 Firmwide Performance Evaluations
Evaluatee: Robert L. Parson Summary of Performance Ratings and Distribution
Level: Principal
Division: IBD
Department: Capital Markets
Percentage of Evaluators Selecting Rating*
Very Good Outstanding
Number of
Evaluations
Included in
Avg.*
Average
Rating +
Not
Observed
Needs
Improvement
(1)
Good
(2)
Top 50%
(3)
Top Third
(4)
Top 20%
(5)
Top 10%
(6)
Downward Evaluations 3
Commercial Orientation 6.0 0% 0% 0% 0% 0% 0% 100%
Professional Skills 4.7 0% 0% 0% 0% 33% 67% 0%
Leadership and Management Skills 4.0 0% 0% 0% 33% 33% 33% 0%
Firm Contribution 5.3 0% 0% 0% 0% 0% 67% 33%
Overall Downward 5.0 0% 0% 0% 0% 0% 100% 0%
Colleague Evaluations 13
Commercial Orientation 5.4 0% 0% 0% 0% 15% 31% 54%
Professional Skills 4.7 0% 0% 15% 0% 8% 54% 23%
Leadership and Management Skills 4.2 15% 8% 8% 0% 23% 38% 8%
Firm Contribution 4.6 31% 15% 0% 0% 0% 23% 31%
Overall Colleague 5.1 8% 0% 8% 0% 0% 54% 31%
*Excludes ratings from evaluators who indicated an assessment was based on Limited Involvement
+ Excludes Not Observed ratings.
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact customerservice@harvardbusiness.org or 800-988-0886 for additional copies.
498-056 -14-
14
1996 Firmwide Performance Evaluations
Review of Downward and Colleague Feedback
Evaluatee: Robert L. Parson Detail of Performance Ratings
Level: Principal
Division: IBD
Department: Capital Markets
Performance Criteria
Degree of
Involvement
Commercial
Orientation
Professional
Skills
Leadership &
Management
Firm
Contribution Average
Overall
Rating
Downward Evaluators
Within Division
Person L (v) E 6 5 3 5 4.8 5
Person M N 6 5 5 6 5.5 5
Person A N 6 4 4 5 4.8 5
Downward Average* 6 4.7 4 5.3 — 5
Colleague Evaluators
Within Division
Person V (v) E 6 5 5 5 5.3 6
Person W E 6 5 4 5 5.0 5
Person G E 5 5 5 6 5.3 5
Person H E 5 4 4 — 4.3 5
Person N N 6 6 5 6 5.8 6
Person O N 5 5 — — 5.0 5
Person P N 6 5 — 6 5.7 6
Person D N 6 6 6 6 6.0 6
Person Q (v) N 4 2 2 1 2.3 —
Person R N 5 6 5 5 5.3 5
Person S N 6 5 5 – 5.3 5
Person T (v) N 4 2 1 1 2.0 2
Person U L 5 4 4 4 4.3 4
Person J L 6 6 — 6 6.0 6
Outside Division
Person X N 6 5 4 — 5.0 5
Colleague Average* 5.4 4.7 4.2 4.6 — 5.1
*Excludes ratings from evaluators who indicated an assessment was based on Limited Involvement
Legend
(V): Voluntary Evaluation
Degree of Involvement: (E) Extensive; (N) Normal; (L) Limited
Rating: (–) Not observed; (1) Needs Improvement; (2) Good; (3) Very Good-Top 50%; (4) Very Good-Top Third; (5) Outstanding-Top 20%; (6) Outstanding-Top 10%.
This document is authorized for use only by andrea benjamin (andrea.benjamin@strayer.edu). Copying or posting is an infringement of copyright. Please contact customerservice@harvardbusiness.org or 800-988-0886 for additional copies.

Our academic experts are ready and waiting to assist with any writing project you may have. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs.

GET A 40% DISCOUNT ON YOU FIRST ORDER

ORDER NOW DISCOUNT CODE >>>> WELCOME40

 

 

Posted in Uncategorized