Change is an important and vital aspect of almost every company. To exists in the fast moving and ever changing world the companies have to bring change in its operations. For example with the invention of computer and information technology, almost every company has to incorporate the use of information technology to compete in the changing business situations. Change often makes the member of the company to shift from their comfort zone to adopt the change brought in the organization. This often makes the employees to resist the new change. Thus the change brought in the organization has to be managed in a proper way so that the change can be implemented in the organization by dealing with the resistance in a tactical and planned way. In this project the change management done by ICICI bank during 1997 and after the merger of Bank of Madura has been analyzed. Change management theory Change is a constant ingredient of the organization. Every organization passes through two types of change during its life time. One is the continuous change and the second one is the radical change. Continuous change faces very little resistance and is managed by the manager or the supervisors effectively. The major concern for the company is to manage the radical change which faces the maximum resistance. The organizations are quite complex, therefore the organizational problems related to the human factor is also quite difficult to handle. The first thing which the organization faces when any change is brought in the organization is the resistance created by the attitude, personalities and incompetency of the employees. More over if any transfer of power takes place due to the change brought in the organization, can cause the employees to resist the change (Bolman and Deal, 2011, n.d.). Therefore this change has to be managed in a planned way. Every organization has to bring change for some or the other reasons. There are various internal and external reasons which initiate change in an organization like change in market conditions, change in technology, change in type of competition, change in organizational ideas etc (Kanawaty, 1991, p.4). Change in an organization can also be brought in an organization due to some internal factors which are solely related with the organization. These factors can range from change in the organizational strategy or the business to change in managers or change in employees profile or attitude or change in equipments used by the employees. Among all the internal changes, change in business strategy is a reason which gives a major domino effect. If the strategy of a business changes then to implement that strategy many changes has to be brought in the organization which may include change in equipments, change in managers, change in the number of employees or/ and change in profile of the employees. In the early 90s the change which was brought in the ICICI was due to change in strategy. Change in an organization can also be a result due to change in government policies and globalization. Globalization can affect the organization’s policy to a greater extent initiating a major change in the organizational strategies of the business. Suppose an organization has major market share in a country but due to the entrants of the foreign companies in the market the company has to deal and compete with those firms too therefore the company has
MGT540 - Management of Change Contents Contents 2 Introduction 3 Change management theory 3 Models of change management 5 Company background – ICICI 7 Change management in ICICI 8 Effect of planned change 9 Scope of improvement 10 Reference 11 Bibliography 12 Introduction Every company during its life time has to bring some or other change in its management or structure…
These leaders realize the importance of change when it is too late (Cameron 2009). Therefore, they start making regretful reflections. These reflections often reflect a people failure due to lack of advocating for change in these organizations. In fact, in a recent study carried out on managers of fallen organizations, when asked what they would change if given a second chance, they illustrated that they would implement a successful change pattern in their companies.
A slightly ambiguous term of change management has as a minimum three unalike characteristics, counting: becoming familiarized to change, monitoring change, and carrying out change. A ‘taking the initiative’ methodology of dealing with change is at the heart of all three characteristics.
Regardless of size every organisation needs to deal with change at certain point of time. However, in order to gain success, change needs to be managed effectively. Focusing on this aspect, the essay describes the method of change management in a public organisation namely Children and Young People Service.
The two main reorganization changes that will take place affecting the team entail the removal and addition of a new product; firstly, the team will discontinue the designing of cell phone applications for the company’s newest cell phone that is currently not doing so well in the market.
is further mentioned that business has also become a unified, global filed as trade barriers fall, communication becomes faster and cheaper and consumers tastes in everything. Saka (2003) mentioned that there is evidence to suggest that the universal, prescriptive model of
A ‘taking the initiative’ methodology of dealing with change is at the heart of all three characteristics. For a business, change management means describing and executing processes and/or expertise to deal with
In the business context, change connotes the often planned process of improving the effectiveness of the operations of the business. As such, it is a subject that cuts across entirely all the facets of the organization since
The first condition is that the employees need role models. The other is their need for capacity building for a successful achievement of transition. McKinsey considers the nature of humans and their predictable
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