Three Changes:
There are many types of change efforts, but they all use one of three change strategies: programmatic, discontinuous or emergent. Each of the change strategies has advantages and risks. Each of the change strategies can employ project management tools, each with a different degree of specificity. Do some web research and locate some change management tools you believe your organization might find useful given your current industry phase. Consider three kinds of innovation: disruptive, radical sustaining, incremental sustaining. What kind of change strategy works better for each the banking industry?
Identify each strategies change in the banking industry
There are 3 generic strategies for change: Three examples on how the banking industry
• Programmatic
• Discontinuous
• Emergent.
Programmatic Change
Programmatic change is very formal and structured. There will be a mission statement and objectives, training, and a planned sequence of events with milestones. This is subject to a high rate of failure because attention to the informal power structure of an organization, to skills and processes is a secondary consideration. An additional problem is that the programmatic approach is a coherent set of steps that can be easily copied, sometimes in situations where they are not appropriate.
The odds of success with programmatic efforts involves 3 factors: attention needs to be paid to the informal organization as well as to the formal, the effort must be customized for the situation and not cut and pasted, top management will need to be involved to build and maintain momentum and to prevent backsliding.
Discontinuous Change:
Examples of discontinuous change are re-engineering and mergers and acquisitions. Discontinuous change may be in response to a sudden shift in technology, serious organizational growth pains, or changes in the market. Individuals and groups that are comfortable with the status quo can be obstacles. This is particularly dangerous in a period of job changes, new departments and new missions.
Discontinuous change is not sequential, nor incremental, but instead involves simultaneous changes in strategy, organizational design and the methods of work. Because of the chaos involved, upper management must stay directly engaged. Once the concrete work is accomplished, attention should shift to the softer side of the change, the people and the culture.
Emergent Change:
Emergent change can be the most difficult of the change strategies to understand. There are no detailed maps and no specific results targeted. A situation exists that needs to be changed, the situation is highlighted by management and the organization is expected to experiment with solutions. Failure is tolerated and management oversees the experiments to see when a solution appears. At that point, experimentation is halted and the solution becomes a part of formal procedure, at least in that one location.