ABSTRACT
Change management in recent years has been one of the most commonly researched topics. This is not unconnected to the fact that fact that organizations need to change if they want to remain competitive and productive. Hence the need for managers to diagnose, address, and create the desired change. This thesis emphasizes the needs of motivating and mobilizing stakeholders in the change process. The case company used in this research was Eduek Microfinance Bank Ltd. Theories in this thesis are based on written literature about the topic and the case company is analyzed based on these theories and also interviews conducted in the company.
This research suggests ways of managing change. The theoretical part of this research is applicable in any company that wishes to involve stakeholders in the change process. In addition, the case in this research can provide insights for developments in companies.
1 INTRODUCTION
Presently, managers are faced with complicating and challenging pressures, they must ensure that resources are used efficiently and at the same time be able to adapt to changing circumstances. Planning, applying and coping with change is one of the main challenge facing managers. High increase in technology is forcing companies to change their methods of doing business. The rate of organizational change and societal change is advancing as customers want greater value for even lower prices. Companies do not have any other choice than to adapt to change and survive in the competitive world. It is very challenging to thoroughly implement organizational change because people resist change even when it is happening for good. Coping with change demands a lot from individuals involved and managers too. The responsibility for change management rest with management and executives of the company, they also need to assist others understand the reasons for change by not imposing the change on employees. This will be discussed further in this research project.
The aim of this research project is to suggest ways to motivate and mobilize change in an organization. Knowing and understanding the different kind of people in organizations and what motivates them is helpful. The more you understand people’s needs, the better you will be able to manage change. It also seeks how well employees/stakeholders are being managed during change in organization, so as to develop more beneficial strategies on leadership of change. This research emphasizes the need for participation, involvement and continuous communication as important factors to improve the change process. Every individual is different, so are their strengths and weaknesses, not everyone will welcome change wholeheartedly, this research explains the need to understand the people you are dealing with, how they feel and why they feel the way they do.
The research methods are both qualitative and quantitative, and is based on written literatures about the topic. The research is divided into two parts; the theoretical and the empirical part. The case company Eduek Microfinance Bank Ltd in Nigeria, is examined and will be linked with the theories in this research and if possible develop new ideas from information received. The interview of managers will be used because it gives an opportunity to precisely study the subject in its natural environment and can also enhance better understanding of the topic.
