Impact Of Change Management In Banking Industry

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.
1.2.1 Overcoming resistance to change
1.2.1 Effective implementation of change plan

1.3 OBJECTIVE OF THE STUDY
The purpose of this study rest on the following main points.
1.3 To determine the cause of change in service organization
1.3.2 To determine the effect of change in the management of service based
organization.
1.3.3 To determine the factors that facilitate or hinder successful change
programme.
1.3.4 To develop a strategy for successful change implementation
in the organization.

1.4 RESEARCH QUESTIONS
1.4.1 What are the factors that call for change in the organization?
1.4.2 What are the problems faced in implementing change?
1.4.3 What are the control system to implementing change programme in the
service based organization?
1.4.4 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
1.6.1 To enhance the people’s knowledge on change management.
1.6.2 The study will benefit. The organization planning and implementing change
programmes
1.6.3 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.