| dc.description.abstract | Change or die!” is the rallying cry among today‟s managers worldwide. More and more organizations today face a dynamic and sometimes turbulent environment. This, in turn requires the organizations to adopt and adapt to the changing environment almost constantly if they are to remain competitive. In order to survive and prosper in such an environment, a business organization should be able to adjust its internal strategy to effectively react to external changes in the environment. Times change, people change, situations change and so do organizations. Change in organizations involves the movement or transformation of all or some of its factors. Change management involves managing both business and people in a changing environment so that business changes are successful and the desired business results are realized. Managing strategic change process is one of the ways of dealing with unanticipated consequences that occur when management intervenes in the organizations normal way of doing things with new ways. Managing change is generally far more difficult than it may at first appear. The need for reorientation occurs rather infrequently and when it does, it means moving from a familiar domain into a less well defined future where many of the old rules no longer apply. People must often abound the roots of the past successes and developed entirely new skills and attitudes. Over the years, the pension industry has been undertaking major reform to strengthen the governance, management and effectiveness of the pensions system. Local Authorities Pension Trust, established over 80 years ago was designed to offer members a structured plan to build on their retirement benefits. In due course, changes in the environment have posed challenges to the institution rendering it crucial for LAPTRUST management to adapt to the changes. Adaptation to the changes comes with challenges that hinder the smooth implementation and management of strategic change. Therefore, to succeed in the management of strategic change at LAPTRUST adoption of effective and efficient strategies by the management was paramount. This research project sought to gain insight into the management of strategic change at Local Authorities Pension Trust and the challenges the institution has been facing in managing strategic change. The research adopted a case study design in assessing the management of strategic change at LAPTRUST. The design purposed to give a detailed investigation of a single subject and involved a complete examination of the social unit emphasizing on depth analysis. Primary and secondary data was collected on strategic changes in LAPTRUST mandate, policies, strategic plans, physical infrastructure, communication, corporate culture, and employees. The content analysis method was used to gain as much insight as possible from the raw data which influenced the results of the research. The main objective of the study was to determine how LAPTRUST is managing strategic changes and to establish the challenges of strategic change management. The study findings indicate that intense employee training, seminars, workshops, and team building are some of the change management practices that have been instrumental in steering strategic change. To manage strategic change communication, restructuring, intense training, culture change where vital while purchase of tools and equipments and changes in the physical infrastructure were necessary to encourage the smooth flow of operations. Though faced with challenges like resistance to change, it clearly came out that the institution‟s success in its change management strategy has been associated with the quality of competency in all levels of management. Increased training, competence and the organization‟s policy of recruitment of personnel into management positions drove the success of the strategic change. It is therefore concluded that LAPTRUST is capable of managing change following the firm‟s growth due to a devolved system of governance. | en |
