The current assignment/study discusses the application of the Myers-Briggs Type Indicator (MBTI) and the identification as to how it might change some work practices in a global banking institution. MBTI plays an important role in determining the types of personality as well as explains the nature of the behavior of each individual type (Rice, 2015). The study discusses MBTI in detail and also defines specific reasons behind why I have used HSBC bank as a global bank to base this assignment/study to evaluate how MBTI might change some workplace practices in a global bank. Furthermore, the study discusses specific areas where MBTI is generally practiced and finds out advantages, disadvantages as well as weaknesses in working where MBTI acts as a tool as compared to other tools. In addition, the study discusses various recommendations in order to improve the operations in banks at the global level. MBTI is basically a questionnaire containing self-report questions subject to introspection that helps in indicating various references at the psychological level. This type of questionnaire mainly helps in perceiving the world and take logical decisions since human beings try to gain experience through various psychological functions such as the method of sensing, making intuitions inculcate feelings as well develop a positive thinking attitude. The study also discusses how technology continues to change a global bank and how MBTI can be applied to improve our work especially when automation and artificial intelligence (AI) is rapidly transforming today’s business world and are endlessly bringing innumerable benefits to companies such as minimizing operational costs, maximizing revenue, improving productivity and providing better services to clients. But at the same time, many workforces will be significantly affected or even replaced during the improvement of business processes therefore strategies need to be implemented to cope with the AI disruptions in the workplace. One of these includes the leverage of artificial and human intelligence, which implies the advancement of employees’ soft and hard skills, but companies need to understand their employees’ strengths and passions on the way to further build an individual’s hard skills. In other words, companies should first invest in employees’ training and development programs to fortify their emotional intelligence, people skills, and reasoning aptitudes based on their personality traits. These characteristics make us unique as a human and so people will not be obsolete in the future workplace with all the technological changes happening. In a paper written about conscious and unconscious processes, Sigmund Freud quote, “The mind is like an iceberg, it floats with one-seventh of its bulk hidden below the water.” That is to say, people can observe how you react and behave in certain situations and define what kind of person you are; yet they will not be able to see the parts beneath the water, which symbolize your thoughts, emotions, and values. Those features to some extent are unseen to others and can impact your behaviors. The use of personality tests such as the Myers-Briggs Type Indicator (MBTI) is advantageous to recognize and know people around you in this ever-changing technological business world of people with diverse backgrounds, experiences, perspectives, and cultures. With reference to a CPP article and some reports, the use of MBTI is a very common practice that every year billions of copies of it are used at the workplace and with 88% of Fortune 500 companies using it now. To my mind, utilizing this personality test as a tool will be consequently effective in many ways in the workplace, not only creating a harmonic workplace environment but also addressing the root causes of various people's problems in the workplace. What’s more, the personality test result gives us insights into who we are which can trigger our self-awareness. I think self-awareness plays a key role in our personal and professional developments/relationships because it gives us the capacity to learn and understand/improve ourselves which also leads to our ability to understand others. When it comes to a workplace of co-workers with different personalities, it is important to evaluate our interpersonal skills to liaise with people of different characteristics. I believe understanding each other to some levels can reduce conflicts and advance teamwork. At the same time, it can allow us to communicate more effectively and deliver work with higher quality. Apart from the employees’ viewpoint, MBTI can be valuable to the organization's structure and culture as well because it provides perceptions of interpersonal differences and suggests how every individual is best fit in the organization. These days, many organizations are promoting diversity and inclusion as they believe it can increase innovation and creativity due to better decision-making from numerous different perspectives. Similarly, having employees that are more satisfied and enthusiastic with their job can also upsurge their commitment to excel in their role as well as lower their turnover.
2. Description of the area of practices
The area of practices of Global Markets Business Finance Team in HSBC: - I am currently working for HSBC as an analyst in their Global Markets Finance Team, of which the area of practices mainly include supplying financial information to markets management for internal management decisions and planning, performing the Sales Management Information (MI) function, and partnering with the Markets Sales team to provide reports and trends on revenues generated. The Global Markets Business Finance Team also acts as a primary interface between HSBC’s Global Finance Division and HSBC’s other businesses/functions, offering advice, analysis, and insight. My role involves supporting a build-out of the finance functions' capabilities to better support the sales team. This includes the development of analytical tools to allow dynamic, real-time review of revenues generated by the sales teams, as well as automation of current deliverables and reporting effectively and accurately revenues to sales teams.
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