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Jamie Dimon says bureaucracy sinks companies and the solution may be getting rid of the ‘jerks' who don't want to solve it [Yahoo! Finance]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
“Bureaucracy, complacency, and arrogance will take down a company,” he said during the Norges Bank Investment Management's investment conference Tuesday. “Bureaucracy is like the petri dish of politics and everything else.” The longtime CEO, who helped build JPMorgan into a $830 billion behemoth and the world's largest bank by market cap from a $130 billion market cap when his tenure started in 2006, said these internal issues are often the biggest factors in deciding whether a company lives or dies. Bureaucracy can often fester in large companies like JPMorgan, which has more than 300,000 employees globally, but it can also plague small organizations or even smaller parts of a large organization, said Dimon. The solution, he said, is to tackle the problem from the top down and “get rid of the jerks,” or the bureaucratic managers that focus more on the process than the outcome. “They admire a problem. I say they're like good bureaucrats,” he said. “They like the process, not th Show less Read more
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