Outline and Analyze the Challenges Facing Mellon Investor Services in Their Organizational Redesign and Assess How Well the Company Have Dealt with Those Challenges in How They Are Approaching and Managing the Change.

In order to successfully and effectively implement change all of the employees should have a good understanding of how the changes will benefit the organization, their positions, and how it might impact their routines. To many employees the implementation of change is not always properly communicated, and the process of change on paper as it is being implemented can be threatening as well as confusing. Also, the people behind the scenes making the changes may not have taken specific details into consideration regarding effective changes that perhaps the employees

Communication breakdowns within an organization may contribute to resistance in changing organizations. Managers must be prepared to talk candidly about the needs for change, otherwise fear and uncertainty will remain a prevailing element that can damage morale and prevent successful implementation of the desired changes at all levels of the organization. Employees need comprehensive information about the nature, processes, and consequences of organizational change.

Managers need to determine the best method of communicating the changes to the employees that are directly affected. This material presented in last weeks class and in the course material helped us understand how important communication is when implementing changes in a work environment. The course book identified four main approaches to managing change in an organization. Lewins’ Three-Step Model argued that successful change in an organization follows three steps: Unfreezing the status quo, movement to a desired end state, and refreezing the new change to make it permanent. (Robbins & Judge, 2011). This approach requires manages to evaluate the need for change and implement a plan of action to help the organization manage changes effectively.

It was noted that communication efforts must be verbal and active (Kotter, 1995). Kotter eight step change model has many drawbacks and benefits. The advantages are that it is the step by step, which is easy to follow model. Another is that it does not focus on the change itself, but rather the acceptance and the preparation of this change, which makes it an easy transition. In Kotter’s and Lewin’s models, both consider the difficulties that organizations encounter when trying to move people from their comfort zone for the change to happen. In both of the models they use a different set of calculations to know whether there is any need to change to take place in the

The team is engaged and motivated. The right people, strategy and tools are in place. They remain focused on driving value to advisors and intermediary clients and earning a greater share of flows in equity, fixed income, and multi-asset products. The retail business is complemented by a strong and growing traditional third-party institutional business. Ameriprise is managed globally through sales, consultant relations, and client service” (Ameriprise Financial, 2012).

Edward Jones’ strategic direction in 2006 had to respond to competitors like Merrill Lynch if the partnership wanted to maintain its exceptional performance and growth. The first option focuses on staying true to Edward Jones’ small-town roots and demonstrating the value of strong personal relationships with one’s financial advisor in planning for the distribution phase of life (Faux, 2014). FAs can take advantage of face-to-face interactions and close relationships to communicate to clients the importance of planning for the distribution phase as soon as possible and hopefully encourage client referrals. Also, a professional advisor who personally knows the clients and their needs provides critical support to keeping long-term retirement plans on track while still focusing on time-sensitive decisions. This defensive move could stunt the firm’s growth, and if it fails, could leave Edward Jones even more vulnerable to cannibalization.

Effective communication measures are necessary to ensure that employees are aware of the need for change as part of an organisations commitment to continuous improvement. Organisations with good internal communication are able to

The Capital Markets division is an interdisciplinary entity created to serve as a link between the Investment Banking division and the sales and trading arms of the firm, Equity and Fixed Income. The division is created to provide the clients with more focused attention and service. The employees in this division were also expected to generate business from organizations that were not previously

Shifting from a product based approach to an individual approach necessitates a complete overhaul of the organizations business plan. Stockholders have a right and interest to expect dividends to be high or to at least remain steady. The stockholder in any organization does not want their investment to lose substantial value and is the main interest of shareholders. Customers want and expect quality service and competitive prices. The customer’s interest is that they are offered sound advice, resolutions to investment needs, value for their money and services that are tailored to their individual needs.

Be that as it may, managing change in the workplace shapes a feeling of criticalness for a great many people, any change is uncomfortable. Therefore, while we oversee change in the working environment, it is our obligation to help people in understanding that whatever they have done truly should now change. Managers and leaders alike must work to start the enthusiasm of determination to get individuals excited to work out of their customary range of familiarity and grasp the change. (Holmes, 2013) "Let shareholders know why the old way is no more viable, by disclosure persuading and genuine proof that individuals can feel see and touch that change must happen.

Many companies do not know how to properly implement change this is shown by Balogun and Hope Hailey in 2004 that about 70 percent of all change programs that were initiated resulted in (as cited by Todnem, 2005). Some of the major reasons can be due to poor planning by the corporation, untrained personnel, and employee resistance. If the personnel in charge of implementing the changes are not properly trained then the success rate of the program is unfavorable. Change saturation can also occur if there are too many changes especially if it is implemented incorrectly. Change saturation occurs when there is more change happening in a group or organization than the group or organization can handle (Avoiding change saturation, n.d.). Poorly implemented change can lead to issues with employees such as frustration, disengagement, confusion, cynicism, and resistance to change (avoiding change saturation, n.d.). It is only natural for an employee to resist changes, especially if they feel that the changes are unnecessary. This resistance stems from the fact that most people fear the unknown which then generates anxiety and stress (Managing resistance, b.d.). All of this anxiety and stress creates an employee who is both unhappy and inefficient.

Employee’s satisfaction and involvement. Employees are more likely to accept change if they understand the reason for the change as well as the benefits of the change. Therefore, it is important for management to have open and frequent communication with employees. The information, however limited it might be, must be provided to the employees. The communication must include the employee benefits that may occur as a result of the change; some of them being increased job satisfaction and reward. According to Iljins, Skvarciany & Gaile-Sarkane (2015), having an open communication creates a level of trust and job security for the employees. As a result, these ones are more receptive to the changes.

When you first start your company, you are in growth mode. Your business is fresh, and you are excited when one institutional investor approaches you. Forming a business relationship with them is thrilling. When we were just a small company, we were ecstatic when someone approached us with a portfolio of 40 homes. As we signed them up, they told us that they had a lot of business to Metropolitan in the past and would do the same for us.

From 1990 to 1999, the continuous bull market and the Initial Public Offering (IPO) of many private firms promote the growth of investment banking business. Since the larger resources mean higher competitiveness for the banks (Groysberg and Snook, 2005, p. 2), many financial service firms are consolidating to increase their competitive advantages. GS’s reputation requires the company to deliver its

An insight into the industry’s market structure and the impact these structural characteristics have on the behaviour and performance of the industry and firm.