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Understanding and Leading Change - AEGON

   

Added on  2020-10-05

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Understanding andLeading Change

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................4P1 Compare different organisational and impact of change on an organisation’s strategy andoperations....................................................................................................................................4TASK 2............................................................................................................................................5P2 Internal and external drivers of change affect leadership, team and individual behaviourswithin an organisation.................................................................................................................5P3 Evaluate measures that can be taken to minimise negative impacts of change onorganisational behaviour.............................................................................................................7TASK 3............................................................................................................................................8P4 Explain different barriers for change and determine how they influence leadershipdecision-making in a given organisational context.....................................................................8TASK 4..........................................................................................................................................10P5 Apply different leadership approaches to dealing with change in a range of organisationalcontexts.....................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONChange management is define as procedure, tools as well as method in order to managethe people to adopt change to accomplish aims and objectives of organisation (Baporikar, 2017).It is necessary because it helps in dealing with external environment in effective manner. Themain aim of change management is to implement strategies for effecting change and helpingpeople to adopt to change. This report is based of AEGON organisation which belongs tofinancial services industry. This company was founded in 1983 and serve its services at globallevel. The headquarter is located in The Hague, Netherlands. AEGON company deals in theservices of life insurance, assets management as well as pensions. This report describes aboutchanges in business operation and strategies in an organisation. Along with this, it also explainsabout internal and external drivers which directly or indirectly affect leadership, team andindividual behaviour of a company. In addition to this, in order to minimise negative impact ofchange on organisation behaviour various measure has been adopted by company. Thereforethere are various leadership approaches and it is adopted as per the structure of the organisation. TASK 1P1 Compare different organisational and impact of change on an organisation’s strategy andoperations.Modification in an organisation is important for the organisation in order to compete atcompetitive marketplace and satisfy customer by providing them quality goods and services.Respective company has been compare with Prudential financial in order to know the impact ofchange in organisation operation and strategies which is explained as below:Aegon (Change in structure)Prudential financialIt is a international organisation which deals inthe services of asset management, life insuranceas well as pensions (Bason, 2017). Theorganisational structure of this company ishierarchical in which order and instruction aredirected from top management to lower level ofIt is an American Fortune Global 500 andFortune 500 company which deals in theservices as well as products of retirement,annuity, real estate, life insurance andmutual funds. The organisational structure ofprudential financial is divisional in which

management. This form of organisation structureis time consuming and incur high cost. Due tothis, representation conversation betweenemployees is not done in effective manner(Douglass, 2017). In order to come such issue,organisation has changed its organisationalstructure from hierarchical to flat. This will aidthem to perform their organisation activity inproper manner and it will also save their time andmoney.Change in Strategy:In order to deal with suchchanges, Aegon has to formulate variousstrategies so that they can adopt changes ineffective manner. By adopting flat organisationalstructure, it will aid the respective company tomake quick decision. Along with this, it alsoreduce conflicts among staff which will aid inmaintaining healthy and positive environment infirm. This will assist in achieving goals andobjectives within specific time period.Change in Operation: As per the change in theorganisational structure from hierarchical to flathas bought positive impact in the company. It isbecause due to flat organisation structure, it willbe easy to conduct activities and operationeffectively. Along with this, as being in samelevel of organisation, it will encourage employeesto take part in decision making process and otheractivities of firm. This will act as a source ofmotivation through which they contribute moreefforts towards the attainment of organisationaloperation and functions of firm is conductedas per geographical market. Due to this typeof organisational structure the company isfacing many issues such as discharging oftechnical ability, high cost and many more.To avoid such issue, respective companychanges their organisational structure fromdivisional to flat. This will help them toperform their operation and functions ineffective manner.Change in Strategy:By adopting flatorganisational structure, company will beable low cost and save their time in directingchanges that occur in the organisation.Along with this, it will also improvecommunication among employees whichwill help in building understanding andrelation between them.Change in Operation:In flat organisationalstructure it will help employees to sharetheir views and opinions with their superiorsas well as their colleagues. Along with this,it will also help in maintaining positiveenvironment in firm which will assist inincreasing productivity as well asprofitability of organisation (Coad andPritchard, 2017).

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