StudentShare solutions
Triangle menu

Management of Change - OPEN24 - Essay Example

Not dowloaded yet

Extract of sample
Management of Change - OPEN24

Increasing competition in the marketplace combined with rather draconian cultural internal problems such as bureaucracy, poor communication, and perceived lack of personal job advancement possibilities has led our group to a reassessing process of the market demands and a reshuffling within the organization.
OPEN 24 has two main aims: a- Increase the number of financial advisors to 300 and thus, even more aggressively gain a higher share of the Attica market, and b- expand to the provinces within the current year, establish itself to the major cities, i.e. Patras, Heraklio and Volos, and get a fare share of the local markets before the competition moves in.
Change management is the process of developing a planned approach to change in an organization. The main objective is to maximize the collective benefits for all people involved in the change and minimize the risk of failure of implementing the change. Change management can be approached from a number of angles and applied to numerous organizational processes. (Worren, Ruddle and Moore, 1999)
One The main problems that the department faces and can prevent from the above mentioned plans are the following:
Strict Management that creates employee dissatisfaction thus, high employee turnover ratio.
Bureaucracy which slows down procedures.
Poor communication.
Perceived lack of personal job advancement possibilities.
Structuring the Department
One of the first attempts to avoid conflicts among FAs was the creation of a Customer Database. It was a customized software that the operators could input all potential and existing customers. Then the following procedures were applied:
Phone Calling Management- FAs were making phone calls for two hours every day, 9-11. Lists that were to be reached were inputted in the Data base. By logging into the system, the managers could get a report any time they wanted of how many phone calls each of the FAs have done, how many prospects have been contacted and how many appointments were fixed.
Rendezvous Management- A call center team of 4 people was created to back up this procedure. Before an FA visits a prospect, the call center confirms the appointment with the customer and then calls and informs the FA to go to the appointment. After the appointment has been completed, FAs should call the call center and report back. The final stage is when the call center calls the visited customer and does a quality check of the visit. After that, a report with all above information is created and emailed to the Sales Manager.
All the above procedures are taking place with the help of the above mentioned Data base. The idea of creating such software and the procedures ...Show more

Summary

OPEN24 is an Athens based subsidiary of Eurobank which has been actively operating for over four years which, since its conception, has experienced rapid growth by the introduction of new and unique products in the extremely competitive banking sector. The bank, through their highly motivated and aggressive sales department offers this unique banking product for small to medium sized enterprises and thus has a current competitive advantage by offering something that no other bank in Greece does at present…
Author : kesslerhelena
Management of Change - OPEN24 essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Management of Change - OPEN24"
with a personal 20% discount.
Grab the best paper

Related Essays

CHANGE MANAGEMENT
The department is responsible for creating a first-class education system for the children. It focuses on the opportunities to develop the workforce of the system by engaging talented teachers and highly skilled and young people. Therefore, the government has decided to bring a change management process in the system so that the current expenditures can be reduced and also to improve the services of the system.
10 pages (2500 words) Essay
Change management
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.
10 pages (2500 words) Essay
Change management
Change is difficult for stakeholders and it takes a dedicated leadership to ensure that it happens successfully.The best model of change for this case is the Three Step Lewin’s Model. Change goes through three basic steps namely: freezing, moving and unfreezing.
15 pages (3750 words) Essay
Change Management
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.
9 pages (2250 words) Essay
Change Management
Change Management Table of Contents Introduction 3 Core Tenets of Learning 3 Advantages and Disadvantages of Introducing Learning into an Established Company 8 Advantages 9 Disadvantages 9 Conclusion 10 References 11 Introduction Organisational change is often considered as a significant theme in management science.
8 pages (2000 words) Essay
CHANGE MANAGEMENT
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.
11 pages (2750 words) Essay
Change Management
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.
6 pages (1500 words) Essay
Organisational Ethics
The product is supplied by sales people that are qualified financial advisors who visit potential customers at their location, at their convenience, and provide them with all the banking services and products that they may require. Normally, the management is interested in organization mainly from an instrumental point of view.
7 pages (1750 words) Essay
Change Management
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
14 pages (3500 words) Essay
Change Management
Institutional change transpires when a firm makes a transition from its contemporary position to a preferred future state. In the course of planning and implementing change in an organization, the level of employee resistance and cost should be minimum. Conversely, the effectiveness of the change initiatives should be maximum.
3 pages (750 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation