Managing change at national bank of Kenya ltd

Abstract

Change may be driven by business trends, economic, social, culture, political and environmental factors. To remain competitive, organizations must be able to quickly respond to change. Change is a constant feature of organizational life and the ability to manage it is seen as a core competence of successful organizations. Change management is the application of knowledge, tools and resources to leverage the benefits of change. Further, change management is the adapting and defining of corporate strategies, structures, procedures and technologies to deal with changes from external and internal conditions. It is an organizational process aimed at empowering the employees to accept and embrace changes in their current business environment. The first chapter covers the background of the study, detailed discussion on change management, banking industry in Kenya, profile of National Bank of Kenya ltd, research problem, research objectives; to establish challenges of change management at NBK and to determine change management practices adopted by NBK. The chapter also highlights the value and justification of the study. The second chapter is on literature review which covers organizational change, managing organizational change, models of change management, challenges of change management and managing challenges of change. Chapter three is the research methodology, where the research design is a case study and data collection is from both primary and secondary sources. The case study sought to establish challenges of change management, as well as determine change management practices adopted by NBK. The study observed that numerous challenges were faced in change management process. The research findings show that NBK had embraced reliable change management practices in its change process. A management lesson from this research is that for an organization to successfully implement change there must be planning, constant communication, training and evaluation of the change process.