Change Management Summary Assesment

Running head: CHANGE MANAGEMENT
Change Management
Name of the Student
Name of the University
Author’s Note:

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CHANGE MANAGEMENT
Executive Summary
The aim of the report is learning about managing the changes in a significant banking
organization called HSBC. Management of change could easily incorporate various tools and
techniques, which could be used for helping individuals to make successful personalized
transitions; hence resulting in the overall realization as well as adoption of various change
aspects. The financial success of the changes would be highly dependent about the process of
different organizational employees for embracing these changes. It is the systematic
management of adoption and engagement of employees, as soon as the company would be
changing their working procedure. The report has analysed a specified analysis of HSBC
regarding their approach towards change management.

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CHANGE MANAGEMENT
Table of Contents
1. Introduction............................................................................................................................3
2. Brief Description of the Given Case Scenario.......................................................................3
3. Discussing Different Key Drivers for brining Change in HSBC...........................................3
4. Different Steps undertaken by the Management of HSBC to overcome Resistance towards
Changes with Relevant Justification..........................................................................................5
5. Concern of HSBC regarding Triple Bottom Line with Relevant Justification......................6
6. Conclusion..............................................................................................................................8
7. Recommendations..................................................................................................................8
References................................................................................................................................10

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CHANGE MANAGEMENT
1. Introduction
Organizational change management is one of the most important and significant
approaches within a company to ensure that different systems, procedures and job roles as
well as organizational structure is changed, for bringing better effectiveness and improvement
in the business (Doppelt, 2017). As a result, the business goals and objectives are upgraded
for these changes. Such change generally results as a basic reaction towards specified
opportunities and problems, faced by the company, on the basis of external or internal
stimuli. This particular procedure is required for managing the individual side of change for
the core purpose of achieving the needed business result (Morin et al., 2016). This report
would be providing a detailed analysis about change management in one of the most distinct
banking organizations, HSBC with details regarding key drivers, overcoming change
resistance, triple bottom line and few others.
2. Brief Description of the Given Case Scenario
HSBC or Hong Kong and Shanghai Banking Corporation can be referred as the most
significant and noteworthy banking organizations in the world, which was being founded
during 1865. This particular company has the headquarters within London, United Kingdom
and total of nine thousand and five hundred offices are present under the organization. The
overall base of customers is more than one hundred million, after incorporation of different
products or services in the respective sector of finance. A basic range of diverse aspects, such
as fluctuation of the marketing trends, instability in governmental systems, economic
recession as well as involvement of new technologies is being utilized to bring out distinct
changes.
In the year 1998, the organizational management had to devise a specified 5 years
strategy, called Managing for Value or MFV to ensure that the exploitation of different global
markets or even increasing the values of shareholders. The overall management of the
organization has the objective to increase the total realignment of value propositions, so that
better effectiveness is gained without much complexity. The most significant and important
measures that are needed to be considered, include cost reduction, process automation,
improved delivery of services as well as increased employee engagement. It was observed
that all the employees were not happy with the changes that were brought into the business.
3. Discussing Different Key Drivers for brining Change in HSBC