BUSN20016 Performance During Organizational Change for Banking Sector

p style="text-align: justify;">The research study therefore intends to critically analyse, evaluate and identify the possible ways in which companies and organizations can perfectly and effectively incorporate in new changes while maintaining their level of performance or even improving the more. It is important to note that the research study will make use of the banking sector in Australia as a case study. Efforts will be directed towards strategizing the research study towards identifying the gaps that exist in change management and making recommendations of how best the gaps can be addressed.

Problem statement.

The dynamism in the trend of businesses performance has persistently changed. Firms are making continuous efforts towards improving output and minimizing the costs of production. Moreover, reputability and brand image of a company is upheld by the quality of its products. Based on such trends, it becomes imperative and momentous for a firm to adopt to new innovations so as to keep the pace of competition.  In reality, the performance of an organization and its employees improve due to the implementation and advancement of change management structures in the line of production or service deliverance (Whyte, Stasi, & Lindkvist, 2016, p.351)

Organization change and performance are interrelated in a sense that change in management and technology without clear communication will lead to a great change in the employees’ performance in the enterprise/organization. Literature has revealed that there are forces against change and forces for change. Such forces affect or improve performance of employees in the enterprise (Taipaleenmäki, & Ikäheimo, 2013, p.348). The forces for change are the adjustments that call for the incorporation of new ideas directed towards performance improvement. On the other hand, the forces against change crop from the resistances from the involved stakeholders towards adopting new ideas.  In our case study, change in the development of the banking sector in Australia have affected on the other hand improved the performance of the employees and the sector in the country (Weber, & Rohracher, 2012, p.1047)

While taking a critical review of the change management process, the employees of a firm are the main variables in influencing the effectiveness of change management. Once the change management process have been welcomed, it implies that its implementation will not be so challenging. From the definition, change management is the logical process through an organization manipulates and trains it staffs on the skills of how to integrate in the skills and knowledge without reducing in quality .it therefore implies that effective change management into the employees have a direct influence on the performance of the organization (Simonsen & Robertson, 2012, p.38)

According to reports by different scholars, it has been noted that there is a significant relationship in certain areas of organizational change like organizational structures, technology, management and individuals giving a clear justification that if there is change in the above variables, there is likely to be a corresponding change in the performance of the banking sector. However, this practice has not been easy to implement in most sectors of the economy in some countries according to reports (Olhawari, Karadsheh, Talet, & Mansour, 2012, p.65). This is one of the difficult strategies that leaders within the banking sector have failed to implement. In other words, the importance attached to change management is directly proportional to the long-term survival of a firm. The adoption of change management has however been seen as points of decline of performance among organizations more especially in the banking sector. It is consequently to identify strategies in which firms are able to integrate change without experiencing a fall in the performance (shanmeka, Thomas, Caldas, & Mulva, 2012, p.270)

Aims and objectives of research study.

This research study aims to provide a clear reasoning the main causes of a fall in the performance of organization when implementing change management. Additionally, the study will also help to examine how organizations and business enterprises amidst all the challenges it can maintain both its performance and employee’s performance as changes in the industry takes its shape.

Objectives of the research study.

• To explore on the new strategies that the leaders in the banking sector can adopt in maintaining the performance during change in the banking sector.
• To investigate whether employee’s involvement during organizational change can maintain performance.
• To examine the factors that help the banking sector to maintain performance during organizational change.
• To Examine the causes of the fall in performance during change management process
• How can the identified issues affecting the effective implementation of change management process be addressed?

Justification and potential research output of the research project

Justification of the research study.

Change management in the tool, process and strategy to maintain the employees and organization side of change to meet the set goals of the organization. In this regard, this research study is significant in a sense that it will help the banking sector in the country to adopt to the changes in the financial sector and embrace this on the side of the employees (Munang et al., 2013, p. 71)

As technology changes, the banking sector should be in position to put into practice this phenomenon in order to maintain performance. In the theoretical part of this project, it will act as a literature review for the Australian banking sector in future whereby it will always explore the compatibility in performance and organizational change (Morozov, Kalnichenko, Timinsky, & Liubyma, 2017, p.941)

In the practical view this project is aimed at ensuring that the banking sector and its employees can identify the potentials of embracing change as it occurs that enhances sector performance. As the sector changes its operational methods, strategies, structures and technologies performance is likely to be maintained. Due to the pressure externally, this project will help to address how the Australian banking sector can adopt to these changes and maintain performance (Lilippini, Güttel, & Nosella, 2012. P.220)

Potential research output.

Performance in the organization is dependent on the output or results an organization can achieve/earn in a specific period of time. In simplicity, performance is how well the enterprise or sector is performing to achieve the set targets/goals.

This research project will significantly explore the importance of the change in relation to the performance of the banking sector in Australia. It will show how the change in technology; banking structure and management can enhance and maintain performance in this sector (Lardo, Nam, & Burke, 2012, p.23).

And the potential research output is highlighted below.

Effective performance. This project will help demonstrate how change especially in technology leads to effective performance in the banking sector. For instance, with the introduction of ATM cards in the banks in the country will help the banking sector to offer effective services to its customers.

Adoption of new banking strategies (Jakka, Barki, & Côté, 2013, p.275). This project will also address the need for the Australian banking sector to adopt to new strategies by their employees to maintain performance. it is significant for the banking sector in Australia to adopt to new changes that take place in order to enhance its performance standards. But this change will incorporate all the relevant stakeholders within the banking sector especially the management of the Australian bank, and employees to enable in performance maintenance as a result of change in the sector (Hornstein, 2015, p.298)

Conceptual framework.

According to the journals published by different researchers on change in relation to performance, it has been believed that performance increases as a result of the organizations implementing the change drivers. Hanisch & Wald  (2012) sighted that organizational performance is measured by looking at how much the sector is investing to achieve the set goals. Basing on this literature, this study will provide a critical understanding of change in the banking sector in relation to its performance and show how employees in this sector can maintain their performance by embracing the changes that take place in the market. As previously stated that employees are the key resource in the success of every sector, it is important for them to embrace change in order to succeed in the dynamic banking strategies in the country.

Research indicated that there are different aspects involved in change incorporation, the firm’s employees may choose to be rigid in adopting the new changes needed to be incorporated into the organization (Haegeman, Marinelli, Scapolo, Ricci, & Sokolov, 2013, p397). This type of resistance significantly affects effective integration. Moreover, the costs of implementation tend to be even more expensive due to the extra expenses in persuading the employees. On the other hand, however, employees may easily welcome and adopt to the new changes. In this essence, it implementation of change while considering high performance ration becomes significantly hard to predict.

Brief methodology.

In order to provide a clear and unbiased research report on how change helps in maintaining performance of the banking sector, mixed methodology of conducting research has been used (Greenhalgh, Procter, Wherton,  Sugarhood, & Shaw, 2012)

For achieving the predetermined objectives of the study, descriptive research design will be used in this research study. This design will be used in this study as it will help to describe characteristics of specific group or individual. Primary sources of data will be used as described below (gurna, 2012, p.588)

Literature review.

To clearly analyse the problems facing the banking sector in maintaining performance during change implementation in areas such as technology, banking structure and management, the primary data sources that will be used under literature review such as academic journals, reports on banking sector and performance, available on the websites (Graham,  Borup, & Smith, 2012, 546)

Population of the study; the population of the study will include all the banks within Australia, where sample participants may be picked for participate in the study

Sampling; the research study will make use of purposeful sampling method. This is based on the intension of achieving a balanced and reliable finding. The sampling method will include a balanced gender, and creating a mix between the top managers and the normal tellers

Data collection. The data collection method to be employed for the study will be interviews and questionnaires. The questionnaires will help in the collection of numerical data for statistical analysis. The interviews will also assist in gathering qualitative data for subjective analysis.  Secondary data will be collected from different banks journals available on the websites and interviews conducted on the managers and employees within the banking sector (Fegger, Lamers, Van & Dieperink, 2012, p.65)

Secondary data and the analysis methods.

This research study will use secondary data collection methods in order to transform row data into clear and processed research. Quantitative data analysis will be made to find out the number of banks that have maintained their performance as a result of change in sector, analyse the number of employees whose performance have been maintained as a result of change in technology, management and structures (Ennamalai, & Ramayah, 2013, p.587)

Qualitative data analysis will also be used to examine the extent to which performance can be maintained as a result of change in the sector. This will involve explanations of some banking sector records and how performance can have been maintained in other sectors as a result of organizational changes.

Organization of the study.

Section one. This section will purely involve the research proposal as instructed/ required in the assessment instructions accompanied by introduction on the topic and briefly highlight on the correlation of organizational change in relation to performance.

Section two; the second section of the study will involve the analysis and evaluation of all the cases studies to consider correlation and positivism

Section three; the third section of the study will basically contain a review of other research reports related to the topic of research. In simple terms, all the conceptual framework will be done in this section of the study

Section four. This section of the study will extensively and clearly explain the methodologies applied during the research study. This will include but not limited to all the sampling method, the research approach for the data collection and the method of data analysis.

Section five; this part of the study will engage the analysis and evaluation of all the research finding as objectively and objectively reported from section four of the study

Section six; in this part of the study, detailed summaries of all the study conducted and identification of the research gaps. Additionally, this section will also highlight the potential remedies that can be applied to solve the problems or rather address the gaps identified.

Budgeting.

For any project to be completed and according to the timeline, a clear budget should be drawn and funded. This project has been designed to consume $ 25,000. This will cater for all the requirements needed in the execution of the project. in other words, funds will be appropriately be allocated to different activities to ensure the smooth running of the research activities. he following activities will be performed with their respective expected costs 

Task Name
identification of a research topic and handing over to the project owner/ sponsor to lobby funds for the research study	$ 1000
submission of the proposed research to the responsible authorities for ethical research approval	$ 1500
selecting, vetting and shortlisting of the research team for training	$ 2000
submitting of the pre-research survey to the potential stakeholders of the research study to highlight research agenda	$ 500
evaluation and identification of reliable data sources for analysis	$ 1000
renting, hiring and purchasing literature studies for the review and comparison, both quantitative and qualitative	$ 3000
conducting the primary research study including survey and interview methods	$ 5000
compilation of the research findings from different sources	$ 2000
critical analysis, evaluation and examination of all the data collected from the field	$ 2000
critically discussing and analysing all the research findings of the study and identifying gaps	$ 1500
making of recommendations for the identified problems and highlighting points for further research	$ 1000
Other not catered for money	$ 4000
total	$ 25000

 

Timeline

Task Name	Duration	Start	Finish	Predecessors
identification of a research topic and handing over to the project owner/ sponsor to lobby funds for the research study	8 days	Sun 7/1/ 18	Tue 7/ 10/ 18
submission of the proposed research to the responsible authorities for ethical research approval	5 days	Wed 7/11/ 18	Tue 7/ 17/ 18	1
selecting, vetting and shortlisting of the research team for training	7 days	Fri 7/20/ 18	Mon 7/ 30/ 18	2
submitting of the pre-research survey to the potential stakeholders of the research study to highlight research agenda	4 days	Thu 8/2/ 18	Tue 8/ 7/18	3
evaluation and identification of reliable data sources for analysis	4 days	Fri 8/10/ 18	Wed 8 /15/ 18	4
renting, hiring and purchasing literature studies for the review and comparison, both quantitative and qualitative	7 days	Thu 8 /16/ 18	Fri 8 /24/ 18	5
conducting the primary research study including survey and interview methods	5 days	Fri 8 /24/ 18	Thu 8/ 30/ 18	6
compilation of the research findings from different sources	9 days	Thu 8 /30/ 18	Tue 9 /11/ 18	7
critical analysis, evaluation and examination of all the data collected from the field	7 days	Thu 9 /13/ 18	Fri 9 /21/ 18	8
critically discussing and analysing all the research findings of the study and identifying gaps	9 days	Wed 9 /26/ 18	Mon 10 /8 /18	9
making of recommendations for the identified problems and highlighting points for further research	18 days	Sun 10 /7/ 18	Tue 10 / 30/ 18	1,10

 

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