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 were obtained through questionnaire and oral interview while secondary sources were 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.