THE IMPACT OF CHANGE MANAGEMENT IN NIGERIAN BANKING INDUSTRY

literature review

the impact of change management in Nigerian banking industry. Download the full project work from chapter one to five with reference and abstract.

CHAPTER ONE

INTRODUCTION

1.1            Background of the Study

Demands for greater efficiency, accountability and value for money have led to a revaluation of how banking industry services are resourced and delivered. Traditional bureaucratic approaches are no longer adequate to deal with the complexity of the modern age and the need for efficient and effective services in this industry. The emergence of new banking management practices has been marked by the proliferation of targets, meeting customers and stakeholders’ expectations, measurement and compliance with regulatory standards. Attempt at ensuring that banking industry are more responsive to environmental factors and instilling customer service cum commercially focused ethos are characteristics of new approaches to the banking sector of the

Nigeria economy. With rapid changes in emphasis, the banking sector is now examining its internal structure and reviewing the roles and responsibilities of employees and managers so as to deliver the top quality services demanded by the stakeholders.

More than decades ago, mergers and acquisitions in the banking industry have become the dominant mode of growth (Arguilera and Dencker, 2004). Human resource management has the potential to play important role in mergers and acquisition integration by reinforcing the new human resource management system and corporate culture and providing leadership and communication to reduce turnover.

When an organization is undergoing change, what role does human resource plays? Organizational changes are driven top down and initiated largely due to strategic business goals which the company needs to achieve. The human resource function is to anchor the change management process and facilitate the transformation across all teams and work dimensions. Each change throws up unique challenges and the details which need to be addressed are diverse in each instance. The aim of this paper is to explore how human resource management could play effective role in increasing individual and organizational effectiveness during organizational change by implementing progressive human resource processes.  The term “Organizational Change” connotes significant change in the organization, which could either be reorganization; adding; or removing new product/service. However, this study views transformational organizational change regarding the recent past acquisition of Intercontinental Bank by Access Bank Plc (Nigeria). This fundamental change tends to affect the organizational culture and its operations that call for reengineering of processes, structures, roles and even underlying assumptions.

1.2    Statement of the Problem

In the organization, attempts to resist change are sometimes called organizational inertia. That is inertia is a term, which describes the tendency of members in an organization to resist new and unwanted changes.

There are times when organizations are likely to change time during which changes is less likely. Even if the reed for change is high and resistance to change low, (two) important factors) it does not follow that organization change will occur change is likely to occur when the people involved [Jennifer 1996; 600] the benefits are reflected by three consolidations reviewed here.

The amount of satisfaction with current conditions the availability of desirable alternatives and the existence of plan for achieving those alternatives only when the readiness for change is high will organizational change effort be successful.  This work is expected to provide solution to the following problems at the end of the research. Overcoming resistance to change. Effective implementation of change plan

1.3           Objectives of the Study

The purpose of this study rest on the following main points.

  1. To determine the cause of change in service organization
  2. To determine the effect of change in the management of service based organization.
  3. To determine the factors that facilitate or hinder successful change programme.
  4. To develop a strategy for successful change implementation in the organization.

 

1.4           Research Questions

  1. What are the factors that call for change in the organization?
  2. What are the problems faced in implementing change?
  3. What are the control system to implementing change programme in the service based organization?
  4. To what extent does change management affect the effectiveness service based organization?

 1.5    Research Hypotheses  

In an attempt to offer recent and accurate solution to the research problem, the researcher wishes to use hypothesis to test the validity of certain variables used in the research work to get useful solution to any identified problem. Thus, the following hypothesis about the statement of problem will be tested.

Ho:There are no factors that call for change in the service based organization.
Hi:There are factors that call for change in the services based organization.
Ho:There is no significant relationship between change management and effectiveness in the service-based organization.
Hi:There is a significant relationship between charge management and effectiveness in the service-based organization.
1.6 Significance of Study
  1. To enhance the people’s knowledge on change management.
  2. The study will benefit. The organization planning and implementing change programmes
  3. It will also show the steps to achieving successful change programme in the organization.

1.7              Scope and Limitation of the Study

This study on the effect of change management in service based organization was restricted with a selected institution, lack of money to carry out wider scope of research that would have incorporated the country wide constituted constraint in the study.

The very first problem encountered in the course of the research is the unpopular knowledge of the term change management in the organization. The un-cooperating attitude by the managers and the administration staff in the organization and response rate to administered questionnaires also constituted constraint in the study. Despite this, its is hoped that the study will contribute to the growing body of change and proffering ways of effectively implementing change programmes.

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