The assignment focuses on Managing Organizational Change. Besides, there is a description of Investment Management Software. So, evaluate the situation above using a change management model.
Managing Organizational Change – Investment Management Software
Assignment Description and Instructions Case Study Employees at the People’s Bank do not trust management and there a shared perception that information not shared and communication within the organization inadequate. On January 14th 2018, Roxanne Padmore was assigned the task of selecting and implementing an investment management software at the People’s Bank. Firstly, the software was intended to eradicate the need for paper and enhance the execution of transaction between various departments. Secondly, some of the eventual users of the software included the compliance, audit, investment execution and wealth management departments. The team selected for implementing the software comprised primarily of personnel from the wealth management department.
Managing Organizational Change – Investment Management Software
The software selected by Ms. Padmore and her project team now being used by the organization. At the end of the implementation process employees complained that the software selected was not user friendly and the software previously used more effective. Employees also indicated that although Ms. Padmore surveyed the organization on the preferred choice of software, the eventual choice was not the best and cost millions of dollars. The software chosen by Ms. Padmore and her team the leading brand in many developed countries, used by many banks and the Journal of Investment Management Software stated “it was highly effective and lead to long run cost savings”. However, employees have indicated that the software was not user friendly and has many deficiencies.
Managing Organizational Change – Investment Management Software
Furthermore, the use of the software prevents employees from fulfilling critical job functions. Moreover, John Smith an employee in the Compliance Department stated that “the software did not take into consideration the peculiarities of the Caribbean and assumed that one size fits all.” Ms. Padmore and the wealth management team that responsible for implementation have all left the organization. Questions to answer: a) Evaluate the situation above using a change management model. (10 marks) b) Discuss how trust may cultivated at the People’s Bank. (5 marks ) c) Assess the characteristics that would necessary for a change agent to succeed at the People’s Bank?.
Managing Organizational Change – Investment Management Software
Firstly, propose strategies to ensure the success of the change agent. (5 marks). Secondly, evaluate the importance of communicating in effectively managing change at the People’s Bank and recommend a communication policy that should adopted (10 marks) e). Also, discuss with the appropriate model what steps can undertaken to reduce resistance to change at the People’s Bank. (10 marks). Additionally, discuss three assessment tools that can used at the People’s Bank. (5 marks). Also, how can SIPOC be used at the People’s Bank (5 marks) h) Recommend polices or measures to foster innovation at the People’ Bank. (10 marks)
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