Managing the people dimension of change at the Nairobi securities exchange, Kenya
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Date
2016-11Author
Gimona, Sylvia M
Type
ThesisLanguage
enMetadata
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environment. The study objectives were to establish how the people dimension of change
has been managed at the Nairobi Securities Exchange, to establish challenges faced in
managing people dimension of change at the Nairobi Securities Exchange, to determine
how challenges in managing people dimension of change at Nairobi Securities Exchange
are managed. This study was a case study. Primary data was collected by the use of
interview guide. The interview guide was developed along the objectives of the study and
thus ensured that the right information was collected. Content analysis was used to
analyze the data. The NSE had introduced strategic changes by involving the people as
change agents as well as using new technology and systems such as the use of M-PESA
technology and online systems that allow investors to trade securities via the internet.
Clients were able to get information such as portfolio valuation, margin reports, contract
notes, and stockholding reports especially the Kenyans abroad who were able to use the
system and also participate in share trading in the country. The study established that the
people were fully involved in all stages of change right from planning to implementation.
The introduction of strategic change at NSE was characterized by employee resistance
which was attributed to the fear for the unknown, the feeling on inadequate technological
skills associated with the changes and fear of organizational changes. The challenge of
employee resistance was managed by ensuring prompt and detailed communication to
equip the people on what is expected of them and equipping them with the necessary
information. The management at NSE was fully involved in the change process and they
took an active role. The employees were trained in various aspects of strategic change at
NSE as a measure to mitigate the change adoption challenges. The study recommends
that the people dimension of change should be used as a strategy to bring change because
of its inherent characteristic of inclusiveness of all the stakeholders that leads to reduced
resistance. The other recommendation is that the organization introducing strategic
changes should prepare all the people on the impending changes, sell the idea to them
until they are in agreement, introduce the change gradually rather than rapidly and ensure
there is adequate and effective communication among and between various parties. The
challenges facing the strategic change process like the fear of the unknown and tendency
to maintain the status quo can only be eliminated by adequate training and capacity
building as well as sensitization. To mitigate the challenges of managing the people
dimension of change in organizations, can be avoided if the management engages in a
skills audit to identify the skills gap and offer the relevant skills. The suggestions to
address the limitations of the study included an Investigation of the other dimensions of
change in other corporations, study the change strategies used in other state corporations
in Kenya and to determine the role of stakeholder participation in effective change
management in public institutions.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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