Project Managment - The Three Generic Strategies for Change

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Research is the best way to get a good mark. I listed below some good articles that apply. Change management is more complicated than matching outcome desired to strategy. There are external and internal forces than contribute to how change should be conducted. The banking industry is a very structured culture. However, sometimes culture must be changed to effect change. Implementation runs a 90 percent failure rate that proves change is complex.

Pragmamatic change - Some added thoughts: You made a good point that this type of change is easily copied. In order to acquire a competitive advantage, a company should consider their human assets which lead to the Learning school of thought. Developing employees to be proactive on the front line is something the banking industry is uncomfortable with.

Discontinuous Change - Some added thoughts: Outlining the failure rate would be appropriate in this section. The problem with this type of action is that changing the mission statement and culture over and over can be detrimental to internal and external perception of stability. Any change in strategy should be well thought out with discussion about worst case scenarios before a plan is completed.

Emergent Change - Some added thoughts: This falls in line with the learning school noted above.

All the above strategies need a strong leadership. Please see below some of the research I've completed.

Leadership:
Robbins and Judge (2011) discuss the charismatic leadership, transactional, and transformation leadership styles. There is a positive and negative for each and both work better if the leader has ethics, communication, and trust. In the case of a charismatic leader it explains that although a person may have the characteristics (extravert, self-confident, and achievement), may still need additional training. It also explains a person without the above traits can still be a charismatic leader by developing vision, engaging in self sacrifice, being sensitive to the needs, and being open minded, and sometimes unconventional. The caution is that a charismatic leader may be self-serving and may not have the best interest of the organization in his actions. Another downside to having a charismatic leader is when the leader moves to another position and there is no one like him or her as a replacement.

A cultural change must come from the top with full disclosure needed with all employees. Creating an open door policy as employee's try to figure out the culture can be important to success. A new culture involves unwritten rules and must be communicated from the top down continuously. Care is also needed to have the proper managers in position that have committed ...