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Understanding and Leading Change Assignment - AEGON company

   

Added on  2020-10-05

17 Pages4520 Words111 Views
Leadership ManagementProfessional DevelopmentPolitical Science
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Understanding and LeadingChange1
Understanding and Leading Change Assignment - AEGON company_1

ContentsContents................................................................................................................................................2INTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................3P1 Comparison of ways where there has been an impact of change on organization strategy and operations..............................................................................................................................3D1 various mechanism for maintaining the employment relationship........................................5TASK 2.................................................................................................................................................5P2 Internal and external drivers for change.................................................................................5P3. Measures that can be taken to minimize the negative impact of change...............................7M2. Appropriate theory and model to critically evaluate organizational response.....................9TASK 3.................................................................................................................................................9P4. Different barriers to change...................................................................................................9M3. Force field analysis.............................................................................................................11TASK 4...............................................................................................................................................12P5. Different leadership style.....................................................................................................12M4 Evaluation of leadership approaches...................................................................................14D3. Effectiveness of leadership approaches and change model................................................14CONCLUSION..................................................................................................................................15REFERENCES...................................................................................................................................162
Understanding and Leading Change Assignment - AEGON company_2

INTRODUCTIONChange management is a collective term for all approaches to prepare and supportindividual, teams and organizations in making organizational change. With the changing needsand demand of customers, organizations need to adapt these changes in order to sustain in thiscompetitive market.. To better understand this leading change, AEGON company of EdinburghUK is being selected. AEGON is a pension, insurance and investment company. The changecreates an impact on an organization’s strategy and operations which is being discussed in thisreport. There are change drivers which have influences on organizational behavior which isbeing explained in this report. The change barriers create impact in the decision of leaders is alsodiscussed in this project. The leadership approaches are very helpful in dealing with change,which is being explained in this report. TASK 1P1 Comparison of ways where there has been an impact of change on organization strategy andoperations.The organizations have to change as part of keeping up with the competition or adjustingnew market trends or technologies. The things like merger, restructuring, technologicaladvancements, process enhancements, changing customer demand and new product lines arecommon change in today’s business environment. As in this given case, AEGON has also madesome changes to be sustainable in market. Though AEGON is big name but company is stillstruggling in the market, the reason behind this is people are not aware about company. Becausecompany have traded under number of brand name so it is difficult for the customers torecognize brand. So for that company has made change in organization which worked well forthe organization. To better understand this concept comparison between AEGON and AVIVAhas been drawn below:AEGON and AVIVA both the companies deal in same industry and with same targetmarket. But both the companies use different strategy in order to attract their customers. Thechange management has huge impact on strategy and operation of both companies (Suchman andWilliamson, 2011).3
Understanding and Leading Change Assignment - AEGON company_3

Drivers of changeThe change is occurred in organization due to various reason. There are different driversof change like technology, customers, government, capabilities, resources, invention,dissatisfaction and desires. These are drivers of change which can have major impact on Strategy used by AEGONBusiness Strategy:The business strategy is directly related with business and has direct impact oncustomers. But it is highly influenced by change management of organization. It includes thefactors like which customer segment will be targeted and which geographic area will be cover.Change have direct impact on all this factors as AEGON is now come up with new brand nameso company have to make their strategy accordingly.Strategy used by AVIVAOperational Strategy:Operational strategy is used by AVIVA to grab more market share. This is related withresources of organization whether its financial or non-financial. This mainly focus on whichcapability needs to enhanced and should new technology be adopting or not. For example,company is planning to adopt new technology but due to change now they will focus more ontheir process rather than adopting new technology. So change has made impact on planning oforganization.Apart from this change affect operation like sales and marketing of organization. AsAEGON has planned to market their product as they used to do but now due to change they willhave to use new brand name in their advertisement to create awareness among the customers.This is how change create impact on the operation and different strategy of business.AEGON has launched the first global AEGON awards which specifically helpful incelebrating overall attainment of organization. It is sharing excellence with the overallparticipation from almost 20 nation units and other 90 applications. Best engagement, empower4
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