THE IMPACT OF CHANGE MANAGEMENT IN NIGERIAN BANKING INDUSTRY

THE IMPACT OF CHANGE MANAGEMENT IN NIGERIAN BANKING INDUSTRY

A STUDY OF UNITED BANK FOR AFRICA (UBA) STATION ROAD, ENUGU

ABSTRACT

The research topic of this study is the impact of change management in Nigerian Banking Industry, A study of United Bank for Africa (UBA) station Road, Enugu. The research was a descriptive research, the researcher made use of primary sources and secondary sources of data. The primary sources of data was obtained through questionnaire and oral interview while secondary sources was sourced through texts books ,journals and magazines The population of the study was seventy seven (77) employees. The sample size was 77 employees of the bank. The finding revealed among others that change management results to quality services. The researcher recommended among others that management should ensure effective communication link between management and workers before any change process is embarked upon to attract co-operation from workers.

CHAPTER ONE: INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Change as a fact of life in modern organization and in the world in general in at the same time a disruptive and disorienting event which people continue to resist. Individuals resist changes for reason ranging from self interest to low tolerance to change organization on its part tend to change plans, technologies organization structures, people etc to improve the standard level of the performance. Effective leadership in times of change will consider the nature of the change (including its effect) so as to e able to choose from among a variety of strategies to overcome resistance.

In the dynamic society surround, today’s organization, the question of whether change will occur is no longer relevant instead, the issue is how do managers and leaders cope with the inevitable barrage of changes that confront them daily in attempting to keep their organization viable and current. The economic transformation where in the industrial resolution brought with it new and constantly changing ways of conducting business planning implementing managing change in a fast changing environment is increasingly implementing and managing change in a past changing environment is increasingly the solution in which most organization now work.

The Nigeria economy for instance, with the new bank reforms, the minimum capital requirement of N25 billion has resulted in bank consolidating through mergers and acquisition. Dynamic environment such as this require dynamic processes, people, systems and culture especially, notably effectively optimizing organizational response to market opportunities and threats. United bank for Africa plc is one of the leading and oldest financial services groups in Nigeria and sub Sahara Africa.

Its diversified-base of shareholders include individuals, institutions and leading international bank such as Dentsche Bankers Trust, Banca Nazionnale der lavovo and note dei paslidisiena. UBA is the first maturational bank to be registered under Nigeria law, the first Nigerian bank to open a branch in the U.S.A the first and only Nigerian bank issue global depository receipt which makes its share easily accessibly and tradable to investors he first to be listed on the first to be listed on the Nigerian bank to establish a branch on university campus. UBA plc has grown steadily and rapidly over the years and as 250 branches and offices across Nigeria, including two foreign branches in New York and Grand Cayman Island thus making it one of the leading international banks in Africa. UBA provide a wide range of financial service to national and multinational companies, government institution non-governmental institutions, multilateral institution, small and medium scale businesses and individuals throughout its network.

In January 2006, following the new bank reform in Nigeria, UBA and standard trust bank of Nigeria merges as a single corporate entity. Thus consolidation has actually introduced various changes, consequently has introduced difficulties in the discharging of banking services. Thus this research is aimed at resolving some, if not all of this shut coming.

1.2 STATEMENT OF THE PROBLEM

In the organization, attempts to resist change are some time called organizational inertia. That is inertia is a term, which describes the tendency of members in an organization to resist new and unwanted changes. There are times when organizations are likely to change time during which changes is less likely. Even if the reed for change is high and resistance to change low, (two) important factors) it does not follow that organization change will occur change is likely to occur when the people involved [Jennifer 1996; 600] the benefits are reflected by three consolidations reviewed here. The amount of satisfaction with current conditions the availability of desirable alternatives and the existence of plan for achieving those alternatives only when the readiness for change is high will organizational change effort be successful. This work is expected to provide solution to the following problems at the end of the research.

1.     Overcoming resistance to change

2.     Effective implementation of change plan

1.3 OBJECTIVE OF THE STUDY

The purpose of this study rest on the following main points.

1.     To determine the cause of change in service organization

2.     To determine the effect of change in the management of service based organization.

3.     To determine the factors that facilitate or hinder successful change programme.

4.     To develop a strategy for successful change implementation in the organization.

1.4 RESEARCH QUESTIONS

1.     What are the factors that call for change in the organization?

2.     What are the problems faced in implementing change?

3.     What are the control system to implementing change programme in the service based organization?

4.     To what extent does change management affect the effectiveness service based organization?

1.5 RESEARCH HYPOTHESIS

In an attempt to offer recent and accurate solution to the research problem, the researcher wishes to use hypothesis to test the validity of certain variables used in the research work to get useful solution to any identified problem.

Thus, the following hypothesis about the statement of problem will be tested.

Ho: There are no factors that call for change in the service based organization.

Hi: There are factors that call for change in the services based organization.

Ho: There is no significant relationship between change management and effectiveness in the service-based organization.

Hi: There is a significant relationship between charge management and effectiveness in the service-based organization.

1.6 SIGNIFICANCE OF STUDY

1.     To enhance the people’s knowledge on change management.

2.     The study will benefit. The organization planning and implementing change programmes

3.     It will also show the steps to achieving successful change programme in the organization.

1.7 SCOPE AND LIMITATION OF THE STUDY

This study on the effect of change management in service based organization was restricted with a selected institution, lack of money to carry out wider scope of research that would have incorporated the country wide constituted constraint in the study.

The very first problem encountered in the course of the research is the unpopular knowledge of the term change management in the organization. The un-cooperating attitude by the managers and the administration staff in the organization and response rate to administered questionnaires also constituted constraint in the study. Despite this, its is hoped that the study will contribute to the growing body of change and proffering ways of effectively implementing change programmes.

REFERENCES

Lamarsh (2004). Change Management Approach http:/www Lamarsh.com

Offoke B.C. (2011) The impact of Change Management on Banking Industry, A project submitted to the department of Business Administration, ESUT,

Enugu Olise (2005). Human Resource Management: Lagos Emmanuel Concept Nig.

Patherson, R.F. (1991). New Webster Dictionary Mlam EL P.S.I & Associations. Wiki Pedia Change Management, the free encyclopedia

Patherson, R.F. (1991), New Webster Dictionary Mlam EL: P.S.I & Associations

---

REQUEST FOR PROJECT MATERIAL

Good Day Sir/Ma,

WARNINGS!

PLEASE make sure your project topic or related topic is found on this website and that you have preview the abstract or chapter one before making payment.

Thanks for your interest in the research topic. The complete research work will cost you N2000 and we will send the material to you within 24hours after confirming your payment.

Make the payment of N2000 into any of the account number below and we will send the complete material to you within 24hours after confirming your payment.

Account Name: Agada Leonard E
Account No: 2070537235
Bank: UBA

Or

Account Name: Agada Leonard E
Account No: 3049262877
Bank: First Bank

Or
Account Name: Agada Leonard
Account No: 0081241151
Bank: Diamond Bank

After payment, send the following information to us through this email
address: enemsly@gmail.com
Topic paid for:
Amount Paid:
Date of Payment:
Teller No or Transaction ID:
Name of Depositor:
Depositor Phone Number:
Email address:
NOTE: The material will be forwarded to the email address you provided
within 24hrs after confirmation of the payment.
Thanks.
Agada Leonard E.
For: Enems Project.

 For more information visit our contact page @ CONTACT US

---