Assignment Task 1: Read the following Scenario and prepare a report with the guidelines provided. Scenario: Learners select an organisation and develop a model for change, incorporating issues related to strategic change in that organisation. They need to show how they will lead stakeholders in developing a strategy for change and how they plan to implement the chosen model for change. The report needs to start with an introduction to the background of change.
The report should include the following:
Introduction of the Chosen Organization and background to change
Explain any three change management models and evaluate the relevance of these models to your chosen organization in the current economic conditions. (AC 1.1, 1.2)
Explain any two strategic intervention techniques and assess the value of using them in your chosen organization. (AC 1.3)
Examine the need for change in the organization. Assess the factors that drive the need for strategic change and assess the resource implications for not responding to these changes.(AC 2.1, 2.2, 2.3)
Develop appropriate systems to involve the stakeholders of the chosen organization in planning change and evaluate these systems. Develop a change management strategy with the stakeholders and also devise strategies to overcome resistance. (AC 3.1, 3.2, 3.3, 3.4)
Develop at least two change models that would address the challenges faced by the chosen organization. Devise appropriate measures to implement these models and monitor the implementation and progress. (AC 4.1, 4.2, 4.3)
Conclusions and recommendations.
References (Adhering to Harvard Referencing Format)
The report shall not exceed 10,000 words and should include relevant examples and illustrations.
The strategic change management is a process involved in change management in a structured, thoughtful approach with the aim of attaining set organizational goals, objectives and missions. This is in line with Cameron and Quinn (2011) study that noted that the change is an essential process for organisations to progressively thrive and meet and exceed the competition of industry competitors. The presence of need of change informs the need for strategic change management. This is since a change process is a disruption to the norm leading to fear of the unknown with the initial phase of the change management having an elaborate understanding of the approach to be adopted in an organisation during the change. According to Ambrosini and Bowman (2009), it is imperative to appreciate the extent to which the change management can impact a business. From this understanding, it becomes possible to comprehensively adopt an organisation HR team and working together efficiently for creating a change management plan that reliable and achievable. In an event an organisation lacks an elaborate understanding or the team for managing the plan, it would be appropriate to take into account an experienced change management consultant.
The underlying concept of strategic change implementation is that it is challenging to predict and control. In this case, the optimal approach to dealing with change is expecting the unexpected and being ready for any occurrence. Hence, unless the companies are embracing to the change process, there is a high likelihood to be fossilized. Additionally, apart from an event, the companies are preparing in dealing with sudden, unpredictable, discontinuous, and radical change, there is a high likelihood of becoming extinct in the highly competitive market. This is the case since the majority of the companies assume that they are embracing and implementing change while their practice is superficial where they, later on, understand their change models are neither broad nor deep.
Taking into account the above background, the current report focuses on evaluating the different models of change and assessing their relevance to the identified organisation. Additionally, it is involved in providing a detailed discussion on the cause of change and focusing on their immediate implications of lack of change if not in existence. It would be inclusive of an explicit focus on the diverse systems that can appropriately be adopted in engaging their stakeholders while at the same time being involved in change management and suggesting an alternative to overcome any form of change resistance or opposition from different stakeholders. This is integrated with the establishment of models for implementation and management of change at the selected company in collaboration with evaluation of the concept in context of the expected outcome or change implementation.
The company of focus in this report is the Dubai Islamic Bank (DIB) which is one of the largest bank operating in UAE. The bank was established in 1975 in Dubai Emirate with a primary aim of providing the Sharia-compliant banking and related services (Iqbal & Molyneux, 2016). It is a public company that is listed on the Dubai Financial Market (DFM) since the March 2000. Its progress is founded on its unique distinction of being the world first full Islamic bank with a full operation in this area of operation. It is as such engaged in the corporate, retail, private and investment banking activities. Their operations are implemented through their local branches and overseas subsidiaries. Additionally, according to Said (2013), the bank has an increasingly venture in the areas of launching, participating in, or managing investment funds and portfolios. This is in addition to issuance, management and the participation in the different forms of Sukuk.
The rationale for selecting this bank in this report is informed by the view that it operates in the UAE financial sector which is instrumental to the overall economic progress of the country. In the recent years, as a consequence of the progressive bank nature, they have engaged in setting realist strategies of ensuring they offer customer-centric services, flexible procedures and delivery of accessible financial services to all the groups of their customers. As a strategy of being in line with the set market standards, the involved banks are setting realistic trends to survive in the intense competition.
Apart from withstanding the competition, the organisation must increase their revenues, share of the market, assets and their positioning in the overall economies. This is achieved through strategic change management strategies which are achieved through a focus on the existing internal and external policies, existing procedures, systems and involved stakeholders. The UAE banking environment is majorly concentrated with customers of Islamic religion orientation. Nevertheless, there has been an increase in expatriates hence having a significant number of customers who are not of Muslim orientation. In this case, the system adopted by the Bank has been characterized by stiff competition from other Islamic banks and also Western Banks.
The strategy adopted by the bank where it invests in retail banking, private banking, johara banking, corporate banking, mobile banking, phone banking, online banking, sharia board services, structure trade finance, treasury and investment, project financing, syndication services, wealth management services, business banking, investment banking, contracting finance services, and real estate finance will be the area of focus. This is since the bank has ventured almost in all sectors of the banking industry, increasing their profitability and being in line with the set international quality and standards.
The selected change model include the Kurt Lewin’s 3 phases change theory, the McKinsey 7-S model and Deming’s PDCA Cycle of change. The evaluation of the models would be aligned with the operations of the company of focus which is the Dubai Islamic Bank.
Figure 1: Kurt Lewin Model of Change
Source: (Cummings et al., 2016)
The applicability of this model is founded on the three phases that characterise their operations. In this case, its adoption in Dubai Islamic Bank would guide the organisation in providing it with sufficient space for implementing change in accordance to the changing phenomenon. The stages are as highlighted below;
Unfreezing Stage- Majority of the stakeholders in an organisation would be resistance to the change process. For the sake of overcoming this tendency, a period of softening or unfreezing is initiated through motivation.
Transition/change– Upon the commencement of the change, an entity moves into a transition period lasting for some time. Sufficient leadership and reassurance are essential for the success of the process.
Refreezing– After the change occurrence, accepted and successfully implemented, an entity stabilises with the staff refreezing in their operations under fresh guidelines. This is through an integration of the change to the organisational culture through employee capacity development.
The McKinsey 7s Model is used in the evaluation of the organisation design with a focus on the factors of strategy, structure, systems, shared values, style, staff and skills. As noted by Hanafizadeh and Ravasan (2011), the McKinsey model is comprised of 7 factors which are divided into the Soft Ss and Hard Ss as shown in figure 1 below;
Figure 2: McKinsey 7s model
Source: (Hanafizadeh & Ravasan, 2011)
This includes the planning of allocation of the firm scarce resources, over time to attain the set goals. It is also inclusive of a focus on the environment, competition and customers.
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