Understanding and Leading Change

Understanding
and Leading
Change

Content
 Introduction
• Impact of change
• Affect of change on leadership and individual behaviours
• Measures to minimise negative impact of change
• Barriers for change and it's influence on decision making process
• Different leadership approach
• Conclusion
• References

Introduction
Change is a process of causing a function, thing or practices to become different
compare to its present or past condition or structure. In today's dynamic and
competitive market, it become necessary for all organisation to make timely changes to
remain in the market and to run their business successfully (Dawson, 2019).

Impact of Change
Organisational change is basically a process for modifying or changing a vital
part of organisation like its polices, technology, procedures, culture, etc. with the
aim of improving its competitive strengths and providing better satisfaction to
customers to increase its market share and position. For proper execution of an
change it is necessary to do proper research to understand the current trends and
demands after that a plan and strategy is made to achieve the desired targets and
goals.

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Basis M&S Bank Lloyds Banks
Technical changes Advancement and improvements in
technology has shifted Customers
desire for an easy banking system
which provide them 24/7 access and
different options to operate both
manually and digital through
multiple channels. They also want
easy asses and proper management of
money online with more security to
save them from frauds. To meet these
expectations of customers M&S bank
has made changes in its technology.
With improvements in technology,
customers are also expecting greater
service quality and responsive
customer services. They are seeking
for individuals attention and relevant
offers from their bank and wants
improvement in online banking and
shopping. Thus it become necessary
for Lloyds banks to improve its
technology to provide all the desired
services.

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Basis M&S Bank Lloyds Banks
Strategy adopted:
For adopting this change of
banking sector, M&S bank is
providing a new banking app
which provide a 24/7 access of
banking facility with a safe and
secure mode (M&S BANK, 2019).
They are providing facility of
generating security code using
M&S banking app with a updated
feature called Digital M&S pass
which helps in providing easy and
safe access to internet banking. It
also providing physical M&S pass
where customers can request
physical M&S pass.
Strategy adopted:
Lloyds bank is making changes in
its strategy for providing better
online shopping and payments. It
has implemented new policies for
use of internet banking (Changes
to banking and shopping online,
2019). To provide better security
at the time of online payment an
extra step is added where
password and memorable
information of customers is asked
to verify the payee and to protect
and control the transfer of money.