Assessment 010 Leadership And Change Sample
Introduction-
A lot of internally renowned organizations are changing their internal administration based on the likes of public and academic interests. The change was implemented for the public interests because of the rapidly changing economic and domestic constructions. Policy making remains the top priority, hence the changes that are being made is required to assess the outcome beforehand. The change therefore is needed to be implemented. The change might seems difficult to accept and continue, but far greater outcome awaits as the result of the change. Every organization must change over time, to adapt to the shifts that market goes through. Capitalization needs to change as rapidly as the world surrounding it changes, as a result of which the core of the organization may find it distressful. As the administrative policies may suggest, the change in the organization paves the way of new and better outcomes as well as better yield in goods and services. As a result, the overall revenue generated because of the change is high as compared to the old strategies and methodologies. The undying trial and error process can take some time but it has proven itself the most effective and reliable in terms of execution (Macmillan, B.A., 2019).
The importance of change is humongous, to readily accept change one must unstable what is the necessity of such change and why should it be implemented to ensure better future outcomes and future change. So with the first part, a change is important to make improvements relatively with external and internal circumstances this might cause turbulence amongst the work force but it also helps in developing a reliable network and persistent workforce. In future, these aspects could be used as the reforms might fluctuate with time, change that has been added and accepted will remain consistent along with the future reflections. Hence acceptance of change is very important for any working organization to proceed with the newly developed economy. The economy is said to be developing, endless possibilities arise due to the shifts that the marketplace has to face. So in order to maintain the steady flow of outcomes, change must be accepted and implemented successfully (Holman, O., 2018).
Although change is highly dextrous but if not implemented and managed with efficiency, it can cost a few unfortunate consequences which might cause a sudden turbulence in the workforce as well the organization’s very core. This us why the management needs to level their methods up. From the early 80s, if change isn’t managed well, reports have estimated that almost more than 50% of the times, change fails. As a result, loss in workforce and loss in competency is seen. The stable workforce gets downsized and organization’s hierarchy is said to be face an immense loss. Hence a proper management is required to assess the instability and implement change in accordance with that. As every new reform takes place, the time period required to accept and proceed the implementation work would take over sometime but during that time the leadership qualities of the organization will grow as well as the entire resource and manpower. So the foremost important criteria to accept change is the level of patience on which the base of the organization is depending. Leadership paves the way for change too. A healthy leadership will increase the efficiency of the change and thus ensuring the beneficial goal achievement. Change does not happen in singles, solidarity is a necessity as the whole organization would get benefitted from it, the impacts of change relies on the organization as well as, on the people interacting with the particular organization itself. Hence, the entire community of workforce, leadership, management and marketing should accept and work in consonance in order to implement change in an effective way. No singular entity should be alone, responsible for the implemented change for whatever reasons (Lenz, T., 2017).
Discussions-
Taking an example of an organization or company, change is effectively implemented in steps. In 2008, Santander Bank wanted to establish to primarily hold dominance over entire UK banking sector.
Strategy: The strategy was simply to obtain a portfolio of heritage centric UK financial institutions namely Abbey National, Bradford and Bingley and Alliance and Leicester. The chairman of Santander nevertheless felt that the UK financial institutions are conceptualized on back dated norms and legacies so it would fail to accept and implement change, eventually the organization will fail to grow and ascend. The organization decided to buy and reign over the institutions so that the institutions can be branded under the name of Santander. The organization turned the processes down and formed a Retail Bank (Prince, H. 2020).
To achieve the goal, they would need accelerated system which will lead the banking model.
Implementation: They implemented this practice in the institution, this change was indeed a necessity to bring a new banking era, not the conventional method which would counteract the change. The CEO of the organization, António Horta Osório, focused on all the stakeholders must not rely on the conventional methods and enforce the new systematics. This would establish a new era, a revolutionary vision in the banking sector. There had been numerous cultural misunderstandings and counter arguments were made to replenish and replace the chance with the conventional methods, but the organization made sure every and all questions that were being raised should get solved to impact the very vision that was being seen. It is important to make the workforce and the cultural committee see the coming visionary change and what it would bring, what benefits it could provide. The organization’s committee discussed the risks, issues and mitigations in the assembly. For example, how consumers will react to this implementation and how it could affect the yield, temporarily. The issue was handled well with the astounding leadership qualities and management’s efforts (Rosenbaum, D., 2018).
Objective: The aim of the change was not only to see through the coming revolutionary benefiting era but also to accept and understand what comes with it and how it is going to make an impact in everyday livelihoods. In 2010, January, Santander UK faced good gracious growth against economic headwinds and by 2013, the organization became the leading retail bank of the country and one of the largest providers of loan and savings. António Horta Osório then set out for another big achievement, implementing change at a larger level than before, Lloyds Banking Group. A successful change implementation is based on the entire organization but in parts, every one working under or with the organization must understand their part to implement change. The planning of change is highly crucial and must be done taking worst case scenarios in mind, there comes the part of the combined workforce, the leader, the management and the outsources (Lenz, T., 2017).
The Role of leadership: Once the plan has been made and set out to be established, here the role of the leadership play trumps. The leader must guide their under workers and make them understand the risks and the effectiveness of the change, comparing them and graphing out outcomes. Once the vision is clear, then comes the role of the management team to ensure everybody’s sustainability and preparation for the worst case scenario, the team must comprehend the situation and act accordingly. The team also have the responsibility to maintain the sustainability of change and consistent workforce, even during the non profitable days. The maintenance team must ensure the priority that is the change. If required, reinforcements must be added to ensure better and successful outcomes. During each step of the curve, everyone’s resistance to sustain the change implementation is important (Domingues, A.R 2017).
Conclusion-
In the end, all the great examples have proven that change is a prerequisite to be implemented, the resultant being a new era which is always better and astounding. The marketplace is changing everyday, under variable circumstances, the marketplace is evolving and so is the need to implement change. The various organizations that have understood the need, the crucial circumstances based on which the change is to be implemented have worked day and night to surge through the risk that comes along. The risks and its mitigations have proven itself worthy, upon which the stake of the loss is undermined compared to the profitability. If it not has been the case, either the organization would have faced lessened profits or the leads of the profits would have doubled, even more. In both of which, most of the examples and practical mythologies have proven that change has endured success rate even more, for which the implementation of change has became more seriously talked subject. For the undying success rates, the risk that lied beneath the change risk factors are mere subjects, hence neglected. And the precision that the organization has shown, along with the harmonious balance of the workforce and leadership, the immense efforts that the management has incorporated, everything at once made it successful. Santander Bank, has shown the importance of implementation of change despite of all the resistance and denials, worthy of it all, the change implementation has not only helped in economic development but workforce advancement as well. More jobs, raise in the overall revenue generation and more success rate (Pugh, L., 2018).
References-
Macmillan, B.A., 2019. An Exploration of Resistance to Change in Organisations: Multidimensional, Problematizing Research (Doctoral dissertation, Sheffield Hallam University).
Holman, O., 2018. Time, change and resistance. A literature review of the influence of time on change and resistance to change in organisations (Master’s thesis, UiT Norges arktiske universitet).
Lenz, T., 2017. Legitimacy and institutional change in international organisations: a cognitive approach. Review of International Studies, 43(5), pp.939-961.
Prince, H. 2020. ASTO (Association of Sail Training Organisations) Theory of Change.
Rosenbaum, D., 2018. Planned organisational change management: Forward to the past? An exploratory literature review. Journal of Organizational Change Management.
Domingues, A.R 2017. Sustainability reporting in public sector organisations: Exploring the relation between the reporting process and organisational change management for sustainability. Journal of environmental management, 192, pp.292-301.
Pugh, L., 2018. Change management in information services. Routledge.
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