Understanding and Leading Change Assignment - Hiscox Ltd
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Added on 2020-10-05
Understanding and Leading Change Assignment - Hiscox Ltd
Added on 2020-10-05
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Understanding and Leading Change
Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................1P1 Comparison between different organisations on basis of change in strategies andoperations of organisation...........................................................................................................1P2: Evaluation of ways in which internal and external drivers can affect leadership, team andindividual behaviours within an organisation.............................................................................3P3 Evaluation of measures which can be considered to minimise negative impacts of changeon organisational behaviour. ......................................................................................................5TASK 2...........................................................................................................................................7P4 Different barriers for change and their influence on leadership decision making.................7TASK 3............................................................................................................................................9P5 Leadership approaches dealing with change..........................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONUnderstanding and leading change refers to ability of organisation to adapt to changes inrecent technologies and techniques. It supports business to meet challenges which comes withinitiation and implementation of changes (Aguirre and Alpern, 2014). Changes are necessary partof organisation. In this report Hiscox Ltd is considered which is an insurance company. It isheadquartered in Hamilton, Bermuda. This report impact of change on different organisations interms of their strategies and operations. External and internal factors are determined which haveimpact on leadership, team and behaviour of individuals in organisation. Adopting changes willlead to minimisation of negative impact on changes which are made within organisation. Apartfrom this barriers for change, their influences on decision-making are determined and differentleadership approaches are applied to deal with competitive market.Task 1P1 Comparison between different organisations on basis of change in strategies and operations oforganisation.In present era, the motive of organisation is to enhance their profit and obtain higher levelof sustainability within competitive market. Organisations need to adapt to changing needs ofmarket as they are operating within dynamic environment. Factors which impact strategies andactivities of organisation are technologies, innovation and alteration within taxation policies.This will have strong consequence on operational activities of organisation (Alvesson andSveningsson, 2015). In this changing environment organisations are forced to change theirpolicies so that they can accomplish their goals successfully. Apart from this, other competitiveindustries who work in same domain also have impact on profitability and productivity. For thisthey need to accept the changes so that they can become competitive within market and staystrong.Hiscox Ltd. And Aston Lark are compared based on their strategies and operations. It isillustrated below:BasisHiscox Ltd.Aston LarkChanges in OrganisationalstructureHiscox Ltd. Is an insurancecompany which providesvarious investment structure andAston Lark is also an insurancecompany which is pursuinghierarchical organisational
policies for their customers.They have opted for flatstructure for their functioningand operations withinorganisation for everydayoperations. Managers havealtered their structure so thatauthoritative level is notmaintained within managersand employees. This will aidthem to work effectivelywithout any hurdle.structure within organisation.In this structure they have theirown procedures which variesfrom employer i.e. topmanagement to employees asper their designation and theirresponsibilities withinorganisation. Managers havechanged their structure tohierarchical from flat structure.StrategiesThey have opted for flatstructure within theirorganisation between bothmanagers and employees. Thismeans that, they both have equalrole in decision-making process.Apart from this, it helps them toadopt changes effectively withproper planning (Blewitt, 2012).They are using hierarchicalstructural, this means thatmanagers can easily resolveconflicts and their will bereduction in conflicts. This willlead to enhanced performanceof employees which willautomatically lead tosuccessful accomplishment ofobjectives and goals withindesired time period.Alteration in technologies Within Hiscox Ltd. changes intechnology can be determinedby marketing process on socialmedia. As they are required topromote their life insuranceproducts by which they can gainattention of customer's. Thiswill lead to enhancement inIn this case alteration intechnology can beacknowledged by workingstructure of organisation.Managers have opted to updatetheir software's and useprocess of digitalisation toserve their customer's and
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