Change Management | HSBC Bank

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Change management

Change management 1
Executive summary
Change management in the organization includes the motives and objectives for making the
positive changes in the business which helps in growing and achieving the objectives of the
business. This case study included the changes in HSBC bank for involving the stakeholders for
implementing change management. The change key drivers are analyzed in the case study. The
steps are adopted by the bank for overcoming resistance to change. Bank has considered the
triple bottom line method for earning the profits and making the position in the market. The
effective changes are analyzed in the case study which helped the organization for becoming a
leading bank.

Change management 2
Contents
Introduction......................................................................................................................................3
Key drivers for change.....................................................................................................................3
Resistance to change........................................................................................................................5
Triple bottom line............................................................................................................................8
Recommendations and Conclusion..................................................................................................8
Reference.......................................................................................................................................10

Change management 3
Introduction
Change is required in every business for improving performance. This report includes the
analysis of the case study which includes the implementation of the change for driving the
resistance to change. Change management is considered as the process which includes the make
the significant changes which are required to be implemented in an orderly, controlled and
systematic way for effecting the organizational change. The theories of change management will
be explained for effectively making the changes in the business. It includes Kurt Lewin’s and
Kotter’s model of change management. The case includes the change in HSBC bank which
includes the internal and external key drivers for change. It is analyzed in the case that HSBC
bank requires the changes for growing the bank in different continents which is becoming a part
of HSBC.
Key drivers for change
For the change, the key drivers can be internal and external which requires making the changes
in the organization. At HSBC, the internal and external factors are the key drivers for change.
Internal drivers include the behavior of leaders and staff, cultural imperative, inventions and
resources require making the changes. External drivers for change include the technologies,
customers, competitors, and government.
The internal and external drivers were the drivers for change in HSBC. The external drivers were
economic recession, government instability, changes in market trends and technologies in a
different market. In order to increase the base of customers and realigning the values, the
management has made the changes by reducing the costs, automating the processes and
improving service delivery and enhancing employee engagement. With the implementation of
change, the had faced the issue of resistance of change as employees were not happy with the
change and showed a negative attitude towards change. Employees were not engaged in the
organizational culture. They had reinforced the strategy with the implementation of four-steps
which includes the staff attitudes, importance of work was highlighted, key initiative was
implemented by providing the education to employees, motivated employees by providing the
feedback and enhanced them to participate in change (Hon, et al., 2014).