Change Management in Commonwealth Bank

Running Head: Change Management
Commonwealth Bank
Change Management

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Table of Contents
Introduction......................................................................................................................................2
Change concept................................................................................................................................2
Change identification.......................................................................................................................3
Factors influencing change..............................................................................................................3
Intervention strategies for change....................................................................................................4
Change model..................................................................................................................................4
Lewin’s Change Management Model..........................................................................................5
Unfreeze...................................................................................................................................5
Change......................................................................................................................................5
Freeze.......................................................................................................................................5
Conclusion.......................................................................................................................................6
References........................................................................................................................................7

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Introduction
Primary objective of every organization is to move towards growth and expansion along with the
long survival in the global market. Growth and expansion objectives are considered as the major
part of every organization's long-term vision and these objectives act as the motivation for the
organizations in terms of regular updating its strategies and policies so that the right path could
be followed in order to reach towards desired destination. While updating strategies, organization
faces numerous issues change impacts the whole organization along with its employees. Thus, it
is necessary for the organizations to address every challenge and issue faced by their
stakeholders with the objective of attaining positive outcomes with the effect of implementation
of change at workplace. In order to mitigate these challenges and issues, this report will include
relevant plans to implement change at workplace in order to attain sustainable and ethical change
solutions. Before implementing change program, an organization requires to follow certain steps
through which the issues and challenges which could be faced by the stakeholders could be
identified along with determining appropriate and relevant ways for the objective of reaching to
the desired aims (Doppelt, 2017).
In this report, implementation of change will be discussed in relevance to the Commonwealth
Bank of Australia. It is a multinational bank who operates in New Zealand, United States, United
Kingdom, and in Asia along with Australia. The company is engaged in rendering numerous
financial services including business, retail and institutional banking services. Along with this,
organization also renders funds management, insurance, investment and various other types of
services. This has helped the organization to create their brand image in the global market along
with targeting all types of customer segments. Being a mammoth player in the global banking
industry, organizational functionalities should also match up with the international banking
industry but the fact is that, organization was struggling with their communication strategies as
they were not trending as per the latest business trends. Thus, the report will showcase issues
faced by the organization with regards to their communication strategies along with an effective
plan which could effectively diagnose the causes and the impact of change problems in relation
with resolving those issues.

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Change concept
Change is a practical concept and it is necessary in every field with the objective of moving
forward. Process of change is considered as challenging and the nature of change is critical, thus,
it requires substantial planning and application of resources to ensure that the organization could
be able to attain positive and desired goals (Chang, 2016). In this scenario, Commonwealth Bank
of Australia was practicing traditional methods of communication to get in touch with their
employees and customers. With the effect of these communication methods, whole
organizational functionalities were getting affected and this not only affected organizational
functionalities but it also created an enormous gap between the top level management and
employees due to lack of communication. Apart from this, all branches of the banks were also
not operated in an appropriate manner due to traditional forms of communications methods
(Clegg, Kornberger & Pitsis, 2015).
Change identification
Communication issue is considered as one of the top management issues and it is also considered
as the failure for the organization because top-level management finds various issues in terms of
communicating with the employees. It is necessary for every organization to develop
transparency amongst its functionalities because employees are the people who actually execute
the plans made by the top level management. Although, Commonwealth Bank is a mammoth
player of the banking industry due to non-upgradation of their communication strategies,
organizational performance was getting affected. In the scenarios of implementation of change,
resistance and anger from employees are obvious as they were never getting involved in any
crucial functionality, decision making processes and other important affairs (Cummings &
Worley, 2014). No matter, how big or small change is being implemented at the workplace, if
employees were always kept out and never aware of the changes, it will never fulfil
organizational expectations.
This was the major issue for the organization this issue was the most determinant factor through
which not only functionalities of one department, it affects the overall performance of the
organization. In order to change workplace communication methods, organizational top level
management decided to implement certain advanced and trending communication methods. This