1.1 EXECUTIVE SUMMARY
Effective change management is important for many reasons. It is crucial for businesses to introduce new principles and management smoothly. Also in order for the whole process to be integrated, accepted, adopted and controlled to ensure the continued growth and expansion of the business. This report will look at two case studies (Dominos Pizza and New Zealand Ltd, and HSBC), in order to provide examples of change and evaluate the effectiveness of the change management process.
2.2Nature and Sources of change:
Both Domino's and HSBC operate, in a very dynamic and changeable business environment. In order to grow in such an environment they need to be highly responsive. Change may come from one or two sources. External or internal. External sources are those over which Domino's and HSBC have little or no control, where as Domino's and HSBC have a high degree of control over internal sources of change.
There are several sources of change which impact on Domino's and HSBC's operations:
-changing nature of markets- consumer markets are changing as consumers are realising their choices matters to businesses. (Domino's is constantly reviewing its menu range and options to cater for changing market expectations). Whilst within HSBC's markets a broader range of products and services is now offered to reflect the changing needs of a diverse customer base. HSBC now provides a greater range of retirement products as well as Islamic finance-complaint and pet insurance.
▪ -Political and legal influences – Businesses operate with a framework of laws that aim to maintain competition. Prevent fraud and protect OH+S
(domino's must adhere to all laws. Recent changes to the workplace laws have meant that large employers like domino's have greater flexibility with their labour force). Also HSBC has to adhere to all legal requirements which may have an impact on HSBC in the way they operate. Key...