Managing Change for Organizations - Assignment Example

? A case Study Table of Contents Introduction 3 Change Management 4 Organization of Change Management 6 Reference 8 Introduction The world of the 21st century promotes an environment that sponsors rapid development and fast change. The fast emergence of various kinds of modern day technological gadgets along with the faster penetration of the internet in various corners of the world has resulted in the process of emergence of a highly connected single global entity. It has to be said that the single global entity promotes the concept of a connected global marketplace, where markets around the world are easily accessible to the buyers and sellers through a virtual medium. It has to be said that the global market place is largely responsible for the promotion and faster diffusion of various kinds of global trends to various corners of the world. As a result of diffusion of global trends to various markets around the world, demands of various nature are continuously rising from the markets and consumers located in the developing and developed economies. This essentially promotes a significant amount of business opportunity for various organizations around the world. Because of the rise of digitized communication trends, the barriers to accessing information of various markets around the world have become almost nonexistent and redundant. The ease of access of information by organizations around the world, are essentially encouraging them and providing them with the potential to move forward and enter into new markets. This is in return resulting in the process of increase of competition in the global marketplace. Companies and organizations around the world are increasingly feeling the pinch of this increase in competition in the marketplace. In order to stay competitive in the marketplace, the organizations are trying their best to inculcate various amounts of change in their daily business processes and thereby generate and increase the efficiency of the business in the marketplace. This has resulted in the rise of importance for change management among the organizations. Change Management Change management has become very crucial in various organizations around the world that are increasingly looking forward to inculcate a change in its method of doing business. It has to be said that change management is very essential as it plays a crucial role for the purpose of attaining sustainable growth in the business while changing as per market conditions and requirements. While viewing change management from the theoretic and academic point of view, it is important to mention the fact that the change management denotes a broad arena of activities that is related to managing change at the workplace. The change management must focus on the process of integration on the lines of a range of elements which might comprise of communication, training , testing , implementation of the program as well as various new policies and procedures (Gustin, 2008, p. 209). It is of high importance to mention the fact that while trying to implement changes in an organization, it is necessary to design and implement the right tools that are required for effective management of change within the organization. It has to be said that the change management tools should be capable of addressing the requirements on the lines of identification of opportunity or problem, assessment of the organization, ability for project planning as well as preparation of sponsor, training and implementation (Pershing, 2006, p. 272). It is relevant to mention that the factors of change are largely dependent on a large number of variables. Talking in an elaborate manner, it can be said that the variables like nature and style of change , change consequence, history of the organization, nature of the individuals as well as individual history all plays a major role in identifying the possible outcome and response of a change that is going to happen within the organization (Cameron and Green, 2012, p. 60 ). Source: Cameron and Green, 2012, p. 60 The variables can be elaborated in a broad manner. While discussing about the nature of the change, it is important to mention that it is variable in nature. While change can be internal in nature and can be a possible outcome of motivation on the other hand, the process can also be externally imposed on the employees of the organization. It has to be said that the different nature of change broadly determines the attitudes and behaviour demonstrated by the individuals. While trying to gauge the impacts of the change in the organization, it has to be said that the multiple stakeholders like employees, customers, communities etc. has to be taken into account. Also, the organizational past which highlights the company’s adoption and response to previous trends needs to be taken in to account. The variables which talks about the individuals nature as well as their individual backgrounds also needs to be taken into consideration, as this plays a major role in regards to estimating the level of effectiveness and impact that a change might have in the organization which is breeding ground of various kinds of individuals with various choices, preferences and taste. Organization Description of Change Management While talking about change management on the organizational context, the issue of Barclays response to change management needs to be mentioned. It is a known fact that Barclays was regarded as a underperformer around the 1990s. Also, the financial institution largely became a potential target for a corporate takeover during the same period. However, it is important to mention that a series of efforts on the lines of change management, during the period of 2000 and 2003, resulted in a turnaround of the company. It has to be said that the top management increasingly realised that the company needs to focus on the processes of employee engagement as well as the satisfaction of the customers as they are potential arenas that will be providing growth in the future. It also has to be said that it was also expected focusing on these two lines will also boost the levels of profitability. During the course of change management, it has to be said that the top management realized that while the importance of effective and high quality financial performance is important, yet there has to be a significant amount of focus on the lines of human related strategies. While dealing with issues of turning around the company, in regards to effective performance, it has to be said that the management also tried to tackle the challenges related to low retention rates as well as poor succession planning for the organization. While trying to implement the processes of change within the organization, it has to be said that the top management focused on defining a metrics which addressed the three main stakeholders of the organization like the customers, colleagues and communities. It is highly relevant to mention that this segmentation based approach was largely done as an effort to understand the impact of the change within the organization. It can be said that this approach helped the organization to understand the broad nature of the problem. The top management as a result of this kind of a strategic implementation realized that the organization is largely focused on the performance of the short term. It is highly effective to communicate the fact that as a result of proper change management within the famous financial institution, the top management was greatly successful in diverting the focus from the financial results to various other dimension of the business that has significant amount of strategic importance (Price and Turnbull, 2005). Reference Gustin, J.F., 2008. Safety Management: A Guide for Facility Managers. 2nd ed. USA: The Fairmont Press. Cameron, E., and Green, M., 2012. Making Sense of Change Management: A Complete Guide to the Models Tools and Techniques of Organizational Change. 3rd ed. USA: Kogan Page Publishers. Pershing, J., 2006. Handbook of Human Performance Technology: Principles, Practices, and Potential. 3rd ed. California: John Wiley & sons. Price, C., and Turnbull, D., 2005. Leading change: An interview with the CEO of Barclays Bank. [Online] Available at: https://www.mckinseyquarterly.com/Leading_change_An_interview_with_the_CEO_of_Barclays_Bank_1680 [Accessed 28 Mar 2013] Read More