Understanding and Leading Change in Organisations

Robert Andrei Chirita
Understanding and Leading
Change
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Robert Andrei Chirita
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Robert Andrei Chirita
Introduction
Change in organisation takes place for the betterment of the employees and company.
The change could be anything whether related to the policies, strategies, culture or technologies.
The company adopt change for increasing their growth and development which leads them with
huge profitability. Change in organisation makes the company to deal with everything that could
give them success and great result. There are four types of organisational change they are
transformational change, people centric organisational change, structural change and remedial
change (Nelson‐Brantley and Ford, 2017). COVID 19 has affected many organisations by which
they are not able to fight and could not handle the situation. The businesses get shut down for a
long period of time and they are not getting any source of income during pandemic. In this report
the topic covered are Internal and external drivers of change, measures to minimise negative
impact of change, barriers to change and different approaches of leadership.
TASK 1
P1
Organisational Change takes place when there is need or requirement in the functioning of the
company. The change is important to survive in future market, the organisation have to change
their policies and strategies to adopt a new change. COVID 19 has created a great impact on
functioning of the company, the businesses are changing their way of conducting activities due
to pandemic (Nadim and Singh, 2019). The companies must work according to current scenario
of pandemic and implement their strategies according to the situation. Banking and financial
sectors are also a part which gets influenced by COVID 19, the banks face a heavy loss due to
pandemic. The banks face two problems they are credit loss and operations challenge, they have
faced loan loss due to Coronavirus Pandemic. The banks are speeding up and shifting towards
digital banking to increase their productivity (Glow, Kershaw and Reason, 2021).
Comparison of Santander and Lloyds Bank
Basis Santander Lloyds
Overview It is a Spanish financial
services company which is
suited in Spain. Santander is
Lloyds is a financial institution
which is formed by the
acquisition of HBOS in 2009
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Robert Andrei Chirita
one of the Fourth largest banks
in the entire Europe.
and acquired by Lloyds TSB.
Lloyds is one of the largest
financial institutions in UK.
Changes occur Santander make changes in
dealing with its customers as
they have more focused on the
digital banking due to COVID
19, people cannot visit Bank.
They have also changed the
banking facilities due to the
disease which require no
human interactions.
Lloyds have changed their
operation activities such as
they have added extra security
check up when individual use
internet banking. They also
announced a closure of 56
banks. They have changed
their way of services their
clients and opt for new
technologies which help
customers during COVID 19.
Aim The aim of Santander Bank is
to meet the targets which are
designed to fulfil the goals and
objectives of retail bank the
targets are to strengthen the
balance sheet of bank and
consistently growth or
profitability of Bank.
Aim of Lloyds is to make their
customers and employees feel
comfortable by fulfilling their
demands and needs. The Bank
improves their service
proposition and creates a value
for their customers so it makes
them sustainable for long term
business.
Product or Services Santander offers various
services they are current
account, saving account,
Master card, Mortgages,
Investments, savings, travel
insurance, Car insurance,
personal loans and various
Lloyds provides a various
service to their customers from
current account to saving
account. The Bank also
provides facilities of Credit
Card, ISA's, Investing, Home
insurance, Wealth
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