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Paper Topic:

Describe and critically analyze a past or present change management process in an organization you have had experience of.

Change Management in JP Morgan Chase

2005

Introduction

Organizations function is a very rapidly changing environment . If in the previous years companies were not facing very much change and could function in a quite steady environment , during the recent years change is influencing all of the organizations activities . Competitive pressures caused by globalization , deregulation , and discontinuous technological changes seem to have forced many organizations into considering radical change as a way of surviving and growing (Quy 2002 ,

.31

Change follows the activity of organizations all the time : first

of all it is the change of environment in which the organization functions Many events can occur which will completely change the activities of the organization- for example , the change of the political party in power in the country , a war , a major catastrophe like a big earthquake , and many other events . Positive or negative changes in market financial indicators can also create needs for change in the organization . For example , the currency rate may increase or decrease rapidly risks of the activities may also be subject to change . It is very hard to predict the movements in the stock market , too . One more change which is very important is the raise of different industries and the flow of capital into them . It is necessary for the company to keep track of possibilities in the markets which it could enter and keep an eye on the potential competitors which can enter its industry and get a large market share

All of the mentioned factors make every organization influenced by change . When it comes to change management , there is no large difference between companies functioning in different sectors of economy . No matter whether the company belongs to the financial field or , for example fast-food industry , it has to adopt some new principles and guidelines in to manage the changes in the most efficient way . The discusses the change management in JP Morgan focuses on the most important issues which the company needed to face when brining change into the organization . The investigation touches upon the issues of changes in derivatives trading in JP Morgan Chase after JP Morgan merged with Chase Manhattan Bank and discusses the steps which the organization had to take in to develop its risk-management procedures as the operations of the bank became much riskier . The research highlights the major aspects of its change management in the recent years and describes how the company succeeded in the market due to the mentioned changes in strategy . The argues that the steps which the companies have to take when brining change into their organizations are very similar disregarding the fields in which companies provide their activities . It also states on the basis of the provided examples that there are general principles of bringing change in the organization which need to be followed for the employees in the organization to adapt to those changes in the shortest period of time

of change process in the organization

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