Change Management Practices Adopted By Equity Bank
Change remains difficult and unavoidable as the prevalent dynamics in the current business environment offers no guarantees. The need for change management within organizations in order for them to survive and remain competitive has only increased over the last five decades. 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. Equity Bank for sure it is not exceptional, it has embraced reliable change management practices on which its change processes anchored onto. This study sought to examine the change management practices adopted by Equity Bank. The study was based on the Resource Based view theory and Kurt Lewin's change model. The research adopted a case study and an interview guide which was used to collect data. The data collected was well organized and further analysed using content analysis. The study established that Equity Bank institutes and operationalises quite a number of change management practices. The study recommends that the Equity Bank establishes a flexible organization structural strategy should be linked to all departments and one that can enhance rapid decision making and promote delegation. It’s also recommended that the Bank takes keen interest in activities and employee/personnel aspects that can promote employee’s appreciation of change motions.
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