Background of the change situation
In the course of planning for change adoption, before the technical, tactical, and practical issues are discussed, it is important to first address the Big Picture (Humphreys, 2005). …
Download full paperFile format: .doc, available for editing
Download file to see previous pages
The situation to be discussed in this case is no exception: the desired change should first be situated within the greater context of the company’s overall goal, in order to determine how best to take the company from its present to its desired status.
The present situation
Ranchers Bank (RB) is a $3 billion financial services firm that exclusively deals in extending loans to farmer and ranchers for agricultural purposes. It operates solely in Texas and employs 1,000 loan officers in 254 offices located in each county. RB is a traditional bank which waits for clients to walk into its local offices to apply for loans. For several years, the agricultural sector has experienced zero growth, and the company’s profitability has suffered as the rate of new business generated is only half of the rate of payoff. There is a strong possibility that if RB continues doing business the same way it has done so for the past 30 years, it shall eventually end up in bankruptcy.
The strategic goal/s
RB’s principal goal is to stay viable and avoid bankruptcy; since bankruptcy is inevitable if the bank maintained status quo. RB therefore needed to change from the status quo merely to survive. This leads to the secondary goal – that of growth. ...
keeping the main strategic considerations in mind, the resulting plan should be appropriately contextualized to maximize effectiveness and assure practicability. Analyzing the broad economic environment Political The banking industry has been at the center of the recent financial crisis, and while the culprits are principally the major financial conglomerates, the entire industry has been subjected to closer scrutiny both by the political leaders and the public. The need for greater oversight has resulted in legislated regulations which shall be tackled in the discussion on legal issues below. Other than these, emphasis on ethical practices has given rise to industry-wide corporate governance standards consistent with the Basel Committee principles for the international banking community (BCBS, 2010). For small banks to survive, they must likewise comply with the corporate governance benchmarks in their relations with their stakeholders. Economic The economic situation is still tenable, purportedly on the road to recovery from the 2008 depression. Many markets impacting on loans creation continue to be depressed both on the demand side (e.g. real estate due to the mortgage foreclosures resulting in the housing glut), as well as supply side (e.g., labor market due to the increasing unemployment). The dollar continues to slide such that increasingly savings and transactions in the international market are converting to foreign currencies (e.g. the yuan, which is increasingly being used in international trade and securities floats). The looming budget deficit due not in small part to the trillion dollars in bailout may be exacerbated by continued reports in the bankruptcy of companies benefitted by these loans. Much will depend upon the economic policies of the
...Download file to see next pagesRead More
Cite this document
(“Organizational Change Plan Essay Example | Topics and Well Written Essays - 6000 words”, n.d.)
Retrieved from https://studentshare.org/business/1401729-organizational-change-plan
(Organizational Change Plan Essay Example | Topics and Well Written Essays - 6000 Words)
“Organizational Change Plan Essay Example | Topics and Well Written Essays - 6000 Words”, n.d. https://studentshare.org/business/1401729-organizational-change-plan.
Hewlett Packard came under heavy scrutiny for the CEO selection of Hasty Whitman from the media and its shareholders because the firm did not conduct a proper CEO search prior to the selection. The firm has been facing a variety of problems that need immediate attention.
The author states that the organizational change is interpreted in a number of ways is a well-known fact. Much has been written and said about the various perspectives on organizational change and change management. The organizational change process is extremely complex. Generally, organizations apply to change.
Electronic medical records improve the communication amongst the stakeholders in the medical facility. The systems standardize the patient care delivery processes. These systems enable instant access to patient health care data thus increasing the patient safety and quality of services delivered in the health organization.
The change will also increase efficiency in the health care delivery processes. The effectiveness of the change will be determined by satisfaction levels of stakeholders, the quality of health care and efficiency of health care delivery. Some methods of measuring the effectiveness of the change include questionnaires, documentation reviews, costs-benefit analysis and documentation validation reviews.
This has necessitated organizations to change in one way or another so as to fit in to the ever changing society and to be able to meet their goals and be competitive in the market. In as much as it is necessary for these organizations to change their strategies, managing organizational change is not an easy task (Hechanova and Teng-Calleja, 2011).
New knowledge, for instance, can invalidate the existing knowledge of an entire hotel industry. Organization support plays a crucial role because it is concerned with provision of services for the whole organization, including the operational core. Design of a team and effective leader can be seen only as tools for providing effective organizational support and management.
(Luecke, 2003, p.8-9)1 Organization change is a complex phenomenon and the manager should understand the steps of effective change and any change must be systematic and logical to have a realistic opportunity to succeed.(Ricky W.G, 2007)2 Change is an inherent quality of organizational life and organizational change may be defined as the adoption of the new idea or a behavior by an organization.
Wal-Mart’s IT has greatly influenced retail discount chain and supply chain, data processing, and B2B communications. Nonetheless, Wal-Mart seems to be losing market dominance to new players in retail discount chain. Furthermore, labor unions, its own associates,
The researcher states that any business must adapt so as to ensure it survives against bigger competitors and so as to ensure its growth as well. In the present business world, change is inevitable. This is because more and more organizations are increasingly being faced by a changing and dynamic environment.
7 Pages(1750 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Organizational Change Plan"
with a personal 20% discount.