SMALL BUSINESS

Community First Credit Union

Abstract

Community First Credit Union of Florida is a not for profit credit union based in Jacksonville. It caters to the population residing or working Baker, Duval, Clay, Flagler, Putnam, Nassau, and St. Johns counties. The company has extensive experience working in this industry. It considers its members and employees as the core competency of the organization, who plays a vital role in the performance of the firm. This paper aims at discussing the organizational structure of the company along with its impact on the firm's performance.

Community First Credit Union

Introduction

Community First Credit Union of Florida a state chartered, not for profit credit union with over seventy years of experience. It is a value driven organization which gives high importance to its employees and members. The company's core values include Commitment to Members, Continuous Improvement, developing and maintaining Trust, Collaboration, Creativity and Innovation and Community Focus. It is one of the ten largest credit unions in United States of America with more than one hundred thousand members and USD 1.1 billion assets. The company offer financial services with its products including banking, personal and commercial loans, mortgages and investments for consumers and businesses throughout the First Coast.

Organizational Structure

Community First Credit Union of Florida believes in the theories of leadership, participation and teamwork. The organizational structure of the company is as portrayed as follows.

The Effects of the Organizational Structure on Small Business

The purpose of an organizational structure is to identify and lay down the roles of the employees in terms of tasks, coordination and management. A well defined and clearly portrayed organizational structure helps the employees in their job tasks and guides them toward the organizational objectives.

In the recent times, team based organizational structures have proved to be very successful for the organizations, especially for small and medium sized businesses. In small organizations, the team structure defines the entire organization. Since there are comparatively fewer employees, therefore, it becomes easy for the team leader to coordinate effectively. Two types of teams can be formed in companies: Horizontal and vertical. A firm composed of individuals with different competencies and skills who make use of their individual competencies and create synergy for the organization. They work together to achieve newer dimensions and aims to reach the company's target. The quality of organizational structure revolves around the competencies of teams in totality.

Effective team leaders motivate their members to work in the broader perspective of the organization's interest. They are ensured that their growth and success is highly and directly associated with that of the organization. The exponential growth and fulfillment of the mission can only be achieved with the support of employees, who must be considered as the core competency of the organization. Since small firms are highly leveraged in terms of human resource, quality work and motivated performance may impact the entire organization. On the other hand, one de-motivated or self-centered employee may negatively influence the company's performance. The management of such organization must be highly cautious in ...