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As long as profit‐centred organisations have existed, the cultural issue concerning the delicate balance between profits and people has been paramount. At Citicorp, a world leader in the financial services industry, cultural change along these lines is ongoing. People management was established as a long‐term goal throughout the organisation. To this end, a state‐of‐the‐art training programme known as “Managing People” was developed. The evolution of the organisation's “excellence in people management” is described.

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