Management Change Models Implement at Bank of America.
Running Head: ORGANIZATIONAL MANAGEMENT CHANGE MODELS.
Analyzing changes that have being implemented at Bank of America.
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In the past decade, different terms have been used for the concept of the reduction in workforce. These include downsizing, rightsizing, re-engineering, job separation and workforce imbalance correction. Scholars and human resource practitioners have not clearly documented the technical differences between all these terms but one thing that is common to all is that they all result to lay-offs. Employee lay-offs is not a new phenomenon, over the last decade the business world has witnessed tremendous amounts of changes with the most noteworthy been the technological developments and breakthroughs, deregulation, privatization and globalization (Hiatt & Creasey, 2003). Some of the changes have transformed the way organizations conduct businesses by interconnecting all the worlds’ economies. Dynamic environments like these require dynamic processes, people, systems and culture especially in managing the change successfully. According to Kandula (2003), if organizations are to develop, they often must undergo change at various levels in their development. There three types of organizational management changes that can occur; planned versus unplanned change, gradual versus transformational changes and organization wide change versus departmental change (Anderson & AcKerman-Anderson, 2001).. Key factors for success include planning the long tern strategic vision in advance, empowering people to make decisions at the operating level, optimizing the in formation communication to enable effective information management (Kotter, 1996). Change in the organization is a difficulty issue to manage due to internal resistance coupled with uncertainty on the part of the organization (Paton & McCalman, 2008). There are different change management models which can be utilized by the organization while implementing changes
Analyzing changes that have being implemented at Bank of America.
Name:
University:
Course:
Tutor:
Date:
In the past decade, different terms have been used for the concept of the reduction in workforce. These include downsizing, rightsizing, re-engineering, job separation and workforce imbalance correction. Scholars and human resource practitioners have not clearly documented the technical differences between all these terms but one thing that is common to all is that they all result to lay-offs. Employee lay-offs is not a new phenomenon, over the last decade the business world has witnessed tremendous amounts of changes with the most noteworthy been the technological developments and breakthroughs, deregulation, privatization and globalization (Hiatt & Creasey, 2003). Some of the changes have transformed the way organizations conduct businesses by interconnecting all the worlds’ economies. Dynamic environments like these require dynamic processes, people, systems and culture especially in managing the change successfully. According to Kandula (2003), if organizations are to develop, they often must undergo change at various levels in their development. There three types of organizational management changes that can occur; planned versus unplanned change, gradual versus transformational changes and organization wide change versus departmental change (Anderson & AcKerman-Anderson, 2001).. Key factors for success include planning the long tern strategic vision in advance, empowering people to make decisions at the operating level, optimizing the in formation communication to enable effective information management (Kotter, 1996). Change in the organization is a difficulty issue to manage due to internal resistance coupled with uncertainty on the part of the organization (Paton & McCalman, 2008). There are different change management models which can be utilized by the organization while implementing changes
References: Anderson, D & AcKerman-Anderson, L.S.(2001). Beyond change management: advanced strategies for today’s transformational leaders. San Francisco. A. Wiley Company. Hiatt, J.M. (2001). Adkar: a model for change in business, government and our community. Colorado. Proschi Research. Hiatt, J & Creasey, (2003). T. change management: the people side of change. Colorado. Prosci research. Kandula, S.R. (2003). Human resource management in practice: with 300 models, techniques and tools. New Delhi. Prentice-Hall Ltd. Kotter, J.P. (1996). Leading change. Cambridge. Harvard business school press. Paton, R. & McCalman, J. (2008). Change management: a guide to effective implementation. London. Sage Publications Ltd. Richard, A. S. 2001. Foundations of human resource development: easy read edition. San Francisco. Berrett-Koehler Publishers. Witcher, B.J & Chau, V.S. (2010). Strategic management: principles and practice. Hampshire. South-Western Cengage learning.