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Case Study on ANZ Banking Group

   

Added on  2020-04-01

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Change management 1CASE STUDY: ANZ BANKING GROUPAuthorCourseProfessorUniversityCity, StateDate

Change management 2Executive SummaryChange is considered as the only constant in life that all things are subject to. Change within organizations is required in order to change the model of doing business, in change of leadership or as the reaction to external forces. Organizational change management is the discipline that addresses the issue that deal with how organizations manage change. Different models and concepts form part of the process of change management. The changes effected at ANZ bank was transformational in nature and resulted in the rationalization of the organizational structure as well as embracing new values that will drive growth.Different models and theories of change can be used to guide the organizational change. In the case of ANZ bank, two theories are considered. These ate the McKinsey 7S and Lewin’s models of change management. Organizational change faces various obstacles during the actual process. Lack of clear communication and resistance to change are some of the issues that managers face when implementing changes within an organization. The cultural web and ADKAR models are useful in helping employees make a smoother transition during this process. Leadership styles and traits are of importance in guiding the process of change in order to ensure success.

Change management 3Table of ContentsExecutive Summary.....................................................................................................................2CASE STUDY: ANZ BANKING GROUP....................................................................................4Theories applicable......................................................................................................................4Lewin’s theory.........................................................................................................................4The McKinsey 7S model.........................................................................................................5Challenges for managers in implementing transformation strategies..........................................7Specific leadership attributes in the case study...........................................................................9Conclusion.................................................................................................................................11References..................................................................................................................................12

Change management 4CASE STUDY: ANZ BANKING GROUPOrganizations often undergo changes in their structure, management and leadership within the course of doing business. In order to meaningfully undertake such changes, they are called upon to make use of the different models and theories on change management. The theories are helpful in several different considerations for such organizations. They help to assessthe organization at the macro level in order to give the leaders a clear direction on the expected change. The driving force that drives the change is also revealed and how the change process will occur in terms of stages, timing and the characteristics of the process.The process of change is also defined in the different models and this address issues such as change content, outcomes and measurements. Organizational change at ANZ bank began by employing the Lewin’s management of change theory where the organization underwent the process of unfreezing, change and freezing again. The changes undertaken at ANZ banking group was teleological in nature as it was change that was planned. This model of change emphasizes on organizational norms, values and attitudes (George 2016). The change model instituted can best be understood as organizational development strategy that utilized the McKinsey 7S model of change while the leaders involve employed different styles and traits of leading.Theories applicableLewin’s theoryLewin's theory is posited on three stages of change which are: unfreeze, change and freeze. The unfreeze stage prepares the organization for the expected change and to remove the barriers that impede it. At ANZ, McFarlane instituted changes that not only prepared the employees but also the community and customers for change. He “freezed” the ongoing bank

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