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Banking on change (A and B)

Author: Kets de Vries, Manfred F. R. ; Florent-Treacy, ElizabethINSEAD Area: Entrepreneurship and Family EnterprisePublisher: Fontainebleau : INSEAD, 1996.Language: EnglishDescription: 6p. + 2p.Type of document: INSEAD CaseAbstract: Banking on change focuses on key issues involved in organizational transformation and culture integration. It looks at what happened when a well-known Swiss bonk acquired a British investment bank (names disguised): from the mismatch of corporate cultures, to the frustration and fear caused by poor communication and planning on the part of the Swiss executives. The second part of the case (B) shows how the CEO belatedly took control of the transformation process himself and turned it aroundPedagogical Objectives: This case focuses on the three main phases in the transformation process: phase one: dealing with organizational and individual stress (breaking out of the vicious circle of frustration and dissatisfaction with the status quo; phase two: hope - a new vision (the arrival of a powerful change agent, in the case of the CEO of the acquiring bank, who is able to develop a positive relationship with employees and design and communicate a compelling rason for the transformation and vision for the future); and phase three: transformation (steered focal events to set goals and declare intent to change; individual change in relation to one's perception of locus of control, crystallization of discontent, acceptance of change on a personal level; reality check - concretization of rewards, small wins). These points are summarized in an exhibit, which will serve as an outline of the transformation process
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This case focuses on the three main phases in the transformation process: phase one: dealing with organizational and individual stress (breaking out of the vicious circle of frustration and dissatisfaction with the status quo; phase two: hope - a new vision (the arrival of a powerful change agent, in the case of the CEO of the acquiring bank, who is able to develop a positive relationship with employees and design and communicate a compelling rason for the transformation and vision for the future); and phase three: transformation (steered focal events to set goals and declare intent to change; individual change in relation to one's perception of locus of control, crystallization of discontent, acceptance of change on a personal level; reality check - concretization of rewards, small wins). These points are summarized in an exhibit, which will serve as an outline of the transformation process

Banking on change focuses on key issues involved in organizational transformation and culture integration. It looks at what happened when a well-known Swiss bonk acquired a British investment bank (names disguised): from the mismatch of corporate cultures, to the frustration and fear caused by poor communication and planning on the part of the Swiss executives. The second part of the case (B) shows how the CEO belatedly took control of the transformation process himself and turned it around

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