Strategic Change Management and Leadership at Bank of Singapore

This report provides a comprehensive analysis of change management within the Bank of Singapore, focusing on the Singaporean banking industry. It begins with a company profile and industry background, highlighting significant drivers and trends of change, such as the dominance of foreign banks, liberalization in the banking sector, the rise of Singapore as a competitive investment hub, and the increasing focus on the SME sector. The report explores the purpose and impact of these changes on the Bank of Singapore, discussing why change is not prevented and analyzing the future of the banking industry. Key areas requiring managerial focus are identified, including deposit and capital gain taxes, the competitive investment hub, and the SME sector. The report also examines the legal aspects influencing the industry, including regulatory investigations and policies from the Monetary Authority of Singapore, and discusses the challenges faced in the change management process. Various change models are considered to facilitate positive change implementation. Overall, the report offers a detailed assessment of the strategic change management at the Bank of Singapore, providing valuable insights into the industry's evolution and the leadership required to navigate these changes effectively.