Strategic Change Management: Royal Bank of Canada Analysis Report

This report provides an analysis of strategic change management, focusing on the Royal Bank of Canada (RBC). It begins by emphasizing the significance of a well-defined business plan for organizational growth and development, highlighting the importance of delegation within the organizational structure. The report then delves into the hierarchical structure of RBC, outlining the roles and responsibilities of key executives and managers, including the CEO, CFO, and heads of various departments. It examines how this structure facilitates decision-making and addresses challenges related to sustainability. The report further explores RBC's business model, emphasizing the value proposition and customer relationships as key areas for driving change. It discusses the company's initiatives for promoting financial literacy, addressing ecological and social challenges, and reducing its environmental footprint. The report also evaluates techniques for improving stakeholder relationships and enhancing corporate governance, ultimately aiming to contribute to the long-term sustainability of both the company and society. The report concludes with a reference list that includes sources from the assignment brief.

STRATEGIC CHANGE MANAGEMENT
Strategic Change Management
Belal Saad
University of Liverpool

1STRATEGIC CHANGE MANAGEMENT
The choices of the business plan is significant for an organization in aligning their
amendments for the sustainable growth and the development. The conduction of the same is
in need to be carried out with a precise focus on the presence of the delegation for the
achievement of such objectives. Hence the importance of making the reflection of the
delegation clear to the organizational structure is observed to be significant. The paper is
focused in the elaboration of the structure of the Royal Bank of Canada and also specifies the
procedure for the improvement of the smooth decision making. Apart from this, the paper
evaluates the techniques for the improvement of the relationship with the stakeholders of the
organization.
The mentioned organization is seen to have hierarchical form of structure currently.
The vertical line of authority is considered to be the base of such organizational structure
(Morschett, Schramm and Zentes 2015). The mentioned organization, Royal Bank of Canada
is seen to be managed by the Chief Executive Officer of the organization. The various
organizational managers like the Chief Financial Officer, the Chief HR Officer, the head of
management and insurance, heads of other capital, treasury and IT department along with the
other executives of the organization are responsible to report regarding their conduction to
the Chief Executive Officer of the company. The hierarchical structure is seen to be
significant for the large scale organizations and the delegation of the roles further down the
hierarchical structure is seen to be the main justification for it (Aghina, Smet and Heywood
2014). The delegation of such a line that is responsible for the divisions as a whole is
significant in enabling the head of the organizations to be aware of the problems that are
faced by the company’s efforts for the sustainability.
The business model of the mentioned company includes revenue streams, company’s
value propositions, key partners, channels, key activities, customer segments along with the
customer relationships. The main focus of the sustainability efforts of the company is seen to

2STRATEGIC CHANGE MANAGEMENT
be the value proposition with the customer relationships segments. The changing
preferences of the customers, the changing responses to the adverse climatic changes along
with the changes that it is hopeful of conducting, is expected to be achieved through the
process of collaborating the efforts of the above mentioned and highlighted processes. The
much required initiative for promoting the financial literacy and the RBC generator which
is significant in the creation of the pool of investment that will be instrumental in addressing
the ecological and social challenges, the plan for the footprint reduction and the youth
welfare activities that expressively correlates with the value proposition of the company and
the tactics for the enhancement of the customer relationships. Thus the organization is able to
adjust the frequently happening changes inside the global business context.
The fundamental activities of the organizations are observed to be in the form of the
management of the investments, the offering of the financial services like the insurances,
loans along with the allowances. Along with that, the list includes the normalised activities
such as general banking like the commercial and personal banking, production of the risk
management services along with the services for the management of the wealth. The changes
in the decision making is considered to be the characterization for the organization in the
adjustments for the sustainability and the contribution to the long term sustainability of the
company and the society from the conduction of the initiatives such as youth welfare and
financial literacy and the footprint reduction is seen to be significant (Fabac 2010).
This will make sure that the external stakeholders of the organization gets benefited
through the knowledge creation. The company’s intention of improving the corporate
governance will be only possible if the decision makers of the organization contribute
towards the initiatives that will increase the goodwill of the organization (Mayfield 2014).

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4STRATEGIC CHANGE MANAGEMENT
References:
Aghina, W., De Smet, A. and Heywood, S., 2014. The past and future of global
organizations. McKinsey Quarterly, 3, pp.97-106.
Fabac, R., 2010. Complexity in organizations and environment-adaptive changes and
adaptive decision-making. Interdisciplinary Description of Complex Systems: INDECS, 8(1),
pp.34-48.
Mayfield, P., 2014. Engaging with stakeholders is critical when leading change. Industrial
and Commercial Training, 46(2), pp.68-72.
Morschett, D., Schramm-Klein, H. and Zentes, J., 2015. International Organisational
Structures as Coordination Mechanism. In Strategic International Management (pp. 251-
274). Springer Gabler, Wiesbaden.