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Management of Change In Sustaining and Growing Business - Research Paper Example

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This paper is a review of a change management process in a practical setting. The organization that will be studied is the Ithmaar Bank headquartered in Bahrain. Apart from a practical review, the basic theories on change management and other relevant literature will also be reviewed here…
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Download file to see previous pages The concept of organizational change management has come under serious study by experts from diverse fields such as sociology and anthropology. As a result, many observations, theories, and models on managing change have evolved over the years. This paper is a review of a change management process in a practical setting. The organization that will be studied is the Ithmaar Bank headquartered in Bahrain. Apart from a practical review, the basic theories on change management and other relevant literature will also be reviewed here.
Ithmaar Bank: The Bank is a multinational financial institution headquartered in the Kingdom of Bahrain and is also a stakeholder/owner of other companies. The change process was initiated for better service and productivity so that it benefits its shareholders and customers alike. The mission statement as envisaged by its CEO is as follows: “while being an exemplary corporate citizen and employer” the bank seeks to “deliver superior returns to our shareholders” and “to provide excellent service and value to our multilateral, governmental, corporate, financial, institutional and high net-worth clients through a wide range of Islamic financial services” (Ithmaar Bank: Vision, mission, and Values). The organizational changes implemented were rewarded with the recognition of the Bank’s chairman as ‘Islamic Banker of the Year by the World Islamic Banking Conference in 2008. One area of necessary change in order to achieve the mission statement was in the customer service section. This paper will deal with the changes in that section of the Bank’s private banking department situated in its headquarters in Bahrain. ...Download file to see next pagesRead More
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