ABSTRACT
The study was embarked upon to evaluate management of change and its impact on organization efficiency. This includes investigating on how change management has been dealt with by the bank management.
The study evaluate relevant conceptual and theoretical issues on change management and how it affects organization efficiency. Thereafter Thirty(30) respondents were selected among U.B.A staff and the result was presented.
Administered questionnaire was employed to collect the data and chi square test was employed testing the hypothesis.
The study finding show that change significantly influence organization efficiency and that change management is significant to organization survival. Similarly, it was found out that change management has effect on worker’s attitude .therefore management of change should be systematic, general and participatory of all stakeholder for organization efficiency to be achieved.
TABLE OF CONTENT
Title Page
Abstract
Certification
Dedication
Acknowledgement
Table of Content
CHAPTER ONE
1.0 Introduction
1.1 Background to the study
1.2 Statement of the study
1.3 Statement of the problem
1.4 Scope and limitation of the study
1.5 Research Question
1.6 Research hypothesis
1.7 Justification/ significance of the study
1.8 Definition of technical team
1.9 Historical background of U.B.A plc
CHAPTER TWO
2.0 LITERATURE REVIEW ON MANAGEMENT CHANGE
2.1 Overview of management of change
2.2 Conceptual framework on change Management
2.2.1 Force of change
2.2.2 Stages of organizational change
2.2.3 Approaches to planned change
2..2.4 How to introduce change
2.3 Theoretical framework on management change
2.3.1 Definition of change
2.3.2 Nature of organization change
2.3.3. Objective of organization change
2.3.4 Implementing a change
2.3.5 Factors of change in the environment
2.3.6 Why people resist change
2.3.7 Overcoming resistance to change
2.3.8 organizational development and technique
2.3.9 Stages of organizational development
2.4.0 Summary of literature finding
CHAPTER THREE
3.0 RESEARCH DESIGN AND METHODOLOGY
3.1 Research design
3.2 Data sources and method of collection
3.3 The study population
3.4 Sample size and sampling technique
3.5 Research instrument specification
3.6 Method of data presentation and analysis
CHAPTER FOUR
4.0 DATA PRESENTATION AND ANALYSIS
4.1 Analysis of demographic characteristic of respondent
4.2 Analysis of respondent view according to research question
4.3 Testing of hypothesis
CHAPER FIVE
5.0 SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary, finding
5.2 Conclusion
5.3 Recommendation
5.4 Suggestions for further finding
References
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Change and conflicts in organization and even in our daily lives are very common (pinto and Kharbanda in William etal 2001). Change is inevitable in any organization. business operate in a dynamic environment which implies change. An organization that fails to recognize the inevitability of change is doomed to failure the management that succeeds in one that is constantly adapting the direction and the operation of its enterprise to change in technological social, political and economic environment in which it operates.
Most often, lack of timely and effective communication, lack of integration, uncertainty, a change in environment, and increasing organization complexity are driver of organization change (Naoun 1994). In addition, these change may affect other aspects of the performing organization that may have programme management implication. This means that change is a powerful force, an engine, that drives many segment of our economy. Most importantly, change force provide avenue to rebuild, modify or rehabilitate for better performance.
As the change alters business and social world of people, the personal computers also change the way we organize our lives, inhabit our home, and relate to and interact with family, friends, neighbors, and ever ourselves. The internet promotes endless comparison shopping, which thus enables consumers worldwide to band together to demand discount. The internet, since its discovery, has transferred power from business to individuals. Before buyers used to face big obstacle when attempting to get the best price and services, such as limited time and data to compare, but now such consumers can quickly scan hundred of vendor offerings.
In fact, the internet has changed the very nature and core of buying and selling in nearly all industries. It has fundamentally changed the economics of business in every single industry worldwide. Broadband e-trade, e-commerce, e-business and e-mail are products of change that have become integrate part of our world.
Therefore no organization or individual can avoid change. What is needed, since change is inevitable, is therefore successful implementation of strategies that would help realize organization efficiency. So strategies managers should strive to create a conducive environment necessary to avoid negative consequence organization efficiency. So, the study would thoroughly search relevant fact to explore how change management could lead to organization efficiency.
1.2 OBJECTIVE OF THE STUDY
In the research truth, the study is aimed to find out the effect of change management on organization efficiency.
Moreover, the study specifically intends to achieve the following objective
i. To determine how organization first see the change influence.
ii. To determine the effect of change on organization performance.
iii. To identify variables that necessitate change and how they are handled.
iv. To determine the extent to which the change affect organization efficiency.
v. To identify how effective the organization mechanism put in place to overcome the was.
1.3 STATEMENT OF THE ORGANIZATION
Ordinarily, the need for a study would not have arose where there is no problem so this study is designed to examine the following problem.
i. Has there been any need for organization change and to what extent can such change influence organization structure.
ii. If such change is introduced, how do we measure the effect of such change on the organization.
iii. Is there any intervening variables that result between the change and organization efficiency and what are those variables.
iv. How effective are the new strategies to improve the organization efficiency?
1.4 SCOPE OF THE STUDY
Although there are many banks, that study focused on old generation banks and selected United Bank for African (UBA) as the target to assess how the bank has managed change in the company and to know whether the change has any effect on organization efficiency.
Therefore the bank would consider, most especially, its performance before recent reform and after the reform to know whether there is any change or improvement in the operational performance of the bank.
1.5 RESEARCH QUESTION
The following are the research question which help the research to find appropriate answer to pertinent issues arising from the study.
i. How does the change first appear to the organization?
ii. Does the change have any effect on the organization efficiency?
iii. What actually necessitated the change in the organization?
iv. Does the organization solutions to the change yield positive result?
v. Does the change vital to any organization?
1.6 RESEARCH HYPOTHESIS
Traditionally, all researchers develop some hypothesis for testing the hypothesis in the study are:
i. Ho-there is no relationship between change management and organization efficiency. Hi- There is relationship between change management and organization efficiency.
ii. Ho:- There is no significant correlation between change and organization survival. Hi-There is significant correlation between change and organization survival. Ho- There is no effect of change management on workers attitude. Hi- There is effect of change management on workers attitude.
1.7 JUSTIFICATON/SIGNIFICANCE OF THE STUDY
All organization experiencing challenges that warrant change often apply realistic measure that would help attain best result so, the study is significant in the sense that organization would find its result finding useful.
The study provide framework for over having organization change and offer possible measure to ensure organization efficiency. In addition, it provides avenue for various organization hoping to carry out organization reform how, when and why change is inevitable and the processes to implement if for a realistic to be possible.
Moreover, the study is so significant as it showed that change inevitable in any organization and that it should be taken as opportunity by every organization by periodically assessing organization situation or status for necessary steps to avert potential negative consequence that may result from the change.
Lastly, it would also be defined or be beneficial to managers as they would discover various strategies applicable to organization intending to implement change or currently experiencing it.
1.8 DEFINATION OF KEY TERMS
Management- It is the process by which mangers create, direct, maintain and operate an organization through systematic operatives human effort available resources to attain goal of the firm.
Organization development- it is a complex educational strategy intended to improve the belief, attitude value and structures of the organization so that they can adapt better to new technologies, methods and ways to handling machines and interact with other to increase productivity.
Change- This is a departure from the old way or previous method policies and principles of handling organization activities to a new improved method that assists efficiency and improvement.
Organization- Refers to an establishment or set of two or more people with goals to achieve pursuing such goals with resources for the production of goods and service rendering.
Organization Efficiency – It is the level at which organization appropriately put it resources into use for better performance.
1.9 HISTORICAL BACKGROUND OF UNITED BANK FOR AFRICA (UBA)
UBA’s has more than 65 years of providing uninterrupted banking operations dating back to 1948 when the British and French Bank Limited (“BFB”) commenced business in Nigeria. BFB was a subsidiary of Banque Nationale de Crédit (BNCI), Paris, which transformed its London branch into a separate subsidiary called the British and French Bank, with shares held by Banque Nationale de Crédit and two British investment firms, S.G. Warburg and Company and Robert Benson and Company. A year later, BFB opened its offices in Nigeria to break the monopoly of the two existing British owned banks in Nigeria then.
Following Nigeria’s independence from Britain, UBA was incorporated on 23, February 1961 to take over the business of BFB. UBA eventually listed its shares on the Nigerian Stock Exchange (NSE), in 1970 and became the first Nigerian bank to subsequently undertake an Initial Public Offering (IPO). UBA became the first sub-Saharan bank to take its banking business to North America when it opened its New York Office (USA) in 1984 to offer banking services to Africans in Diaspora.
Today’s UBA emerged from the merger of then dynamic and fast growing Standard Trust Bank, incorporated in 1990 and UBA, one of the biggest and oldest banks in Nigeria. The merger was consummated on August 1, 2005, one of the biggest mergers done on the Nigerian Stock Exchange (NSE). Following the merger, UBA subsequently went ahead to acquire Continental Trust Bank in the same year, further expanding the UBA brand. UBA subsequently acquired Trade Bank in 2006 which was under liquidation by the Central Bank of Nigeria (CBN).
UBA had another successful combined public offering and rights issue in 2007 and made further banking acquisitions of three liquidated banks namely: City Express Bank, Metropolitan bank, and African Express Bank. The bank also acquired Afrinvest UK, rebranding it UBA Capital, UK.
The quest to build a strong domestic and African brand intensified in 2008 when UBA made further acquisitions of two liquidated banks, Gulf Bank and Liberty Bank while at the same time intensifying its African footprint with the establishment of UBA Cameroon, UBA Cote d Ivoire, UBA Uganda, UBA Sierra Leone, and UBA Liberia as well as the acquisition of a 51% interest in Banque Internationale du Burkina Faso, which was the largest bank in the country with 40% market share. Currently, UBA has 18 African subsidiaries contributing about 20% of the Group’s balance sheet with a target of contributing 50%.
On 13 December 2012, the shareholders of UBA Plc unanimously voted for the bank to restructure into a Monoline Commercial Banking Model in order for it to fully comply with the new CBN guidelines for commercial banks in Nigeria, which repealed the erstwhile universal banking regime.
With the restructuring, the Group’s non-commercial banking subsidiaries with the exception of Africa Prudential Registrars Plc and Afriland Properties Plc were consolidated under UBA Capital Plc and spun-off to shareholders of the Bank. The Bank’s excess real estate assets were used to capitalise Afriland Properties Plc, which was then spun-off, along with Africa Prudential Registrars Plc, to be held directly by the Bank’s shareholders.
Along with UBA Plc, the result of the restructuring is three stand-alone entities held directly by the Bank’s shareholders – UBA Capital Plc and Africa Prudential Registrars Plc, which are already listed on the Nigerian Stock Exchange, as well as Afriland Properties Plc, now controlled by independent shareholders.
Under the Monoline business structure, UBA Plc remains the parent company for all of the Group’s commercial banking activities in Nigeria, Africa and the rest of the world. UBA Plc is also the parent company for UBA Pension Custodian Limited, UBA Capital (UK) and UBA FX Mart Limited.
Now fully positioned as a pan-African bank, the UBA Group is firmly in the forefront of driving the renaissance of the African economy and is well positioned as a one-stop financial services institution, with growing reputation as the face of banking on the continent.
Today’s UBA is a product of erstwhile STB (Standard trust bank), old UBA and Continental Trust Bank (CBT).
We have our presence in New York, London and Paris; 17 African countries. We have over 750 branches.
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