Square organizational structure: a brief overview
Square Inc. organizational structure can be classified as relatively flat, taking into account ever-growing size of the business. Co-founder and CEO Jack Dorsey attempts to maintain a start-up environment and culture and reduce bureaucracy in order to keep the business flexible to be able to respond to changes in the external environment. Therefore, it can be argued that Square organizational structure is designed to increase the speed of decision-making.
Leads of units operate as a CEOs and they report only to Jack Dorsey. Leads oversee project leaders and project teams at Square are small groups comprising maximum 12 people of diverse backgrounds. As illustrated in figure below, Square’s cryptocurrency business unit TDB is a division separate from both, seller and cash units. One of the reasons for this separation may relate to regulatory reasons. Specifically, maintaining crypto separate from other units decreases the chances of regulatory interferences.
Square organizational structure
The company is increasing the range of products and services extensively. This strategy can increase complexity of the business with direct implications on Square organisational structure, despite CEOs attempts to maintain it simple. Accordingly, the senior management of the financial services platform has a challenging task of maintaining flexibility of the business amidst its exponential growth.
Moreover, there are opinions among industry analysts that CEO Jack Dorsey’s ultimate plan is to make Square a holding company for autonomous fintech businesses[1]. A Tweet by Dorsey on July 2021 claiming that the payments company will create a new business line to help developers build financial services products focused on Bitcoin can be seen as a signal to support such as viewpoint.
Square Inc. Report contains the above analysis of Square organizational structure. The report illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis, Ansoff Matrix and McKinsey 7S Model on Square. Moreover, the report contains analyses of Square leadership, business strategy and organizational culture. The report also comprises discussions of Square marketing strategy, ecosystem and addresses issues of corporate social responsibility.
[1] Geron, T. (2021) “Jack Dorsey’s running two companies. How many more can he handle?” Protocol, Available at: https://www.protocol.com/fintech/square-tbd-crypto-strategy