Environment Changes and Challenges
Executive Summary
As the bank is directly affected from the internal and external environment forces and also affects the bank outcome, top management must be aware and monitored the dimensions of the inside and outside environment forces. However, it is essentially for the bank leader to be aware of exactly how these environment forces may contribute or distract the process of production. Moreover, making your employees understand the important of diversity is s such valuable resource because it could boosts the bank abilities to achieve the planned goals. In addition, it will empower the bank leadership together with a talented skills in which it help to resolve issues and conflicts.
This report paper will define a restructure plane that could be used the management team at National Bank of Oman to reshape their framework design and restructure their overall strategies that will help the organization in meeting today rapid changing environment. The report will analyses the key characteristics of the changing environment that effect the bank, the strategic imperatives which adopted by the bank in order to meet those changing characteristic, and also the existence bank’s challenges. in addition, the report will provide a restructure plan based on the new imperatives that has been articulated by Nadler & Tushman (1999) which will discuss about the factors that bank should focus on to meet these new imperatives as well as challenges that the bank my face. Finally, some recommendations are provided to ensure effective process of restructuring plan.
Introduction:
Organizational change is a critical factor where it involves strategic approaches to be fit with market environment. These approaches could be achieved in various ways include wide and strong analysis and studies, adjustment of the financial concerns, department restructuring, new recruitment, layoffs, quality program, and mergers. Implementing these changes need to understand the key
As the bank is directly affected from the internal and external environment forces and also affects the bank outcome, top management must be aware and monitored the dimensions of the inside and outside environment forces. However, it is essentially for the bank leader to be aware of exactly how these environment forces may contribute or distract the process of production. Moreover, making your employees understand the important of diversity is s such valuable resource because it could boosts the bank abilities to achieve the planned goals. In addition, it will empower the bank leadership together with a talented skills in which it help to resolve issues and conflicts.
This report paper will define a restructure plane that could be used the management team at National Bank of Oman to reshape their framework design and restructure their overall strategies that will help the organization in meeting today rapid changing environment. The report will analyses the key characteristics of the changing environment that effect the bank, the strategic imperatives which adopted by the bank in order to meet those changing characteristic, and also the existence bank’s challenges. in addition, the report will provide a restructure plan based on the new imperatives that has been articulated by Nadler & Tushman (1999) which will discuss about the factors that bank should focus on to meet these new imperatives as well as challenges that the bank my face. Finally, some recommendations are provided to ensure effective process of restructuring plan.
Introduction:
Organizational change is a critical factor where it involves strategic approaches to be fit with market environment. These approaches could be achieved in various ways include wide and strong analysis and studies, adjustment of the financial concerns, department restructuring, new recruitment, layoffs, quality program, and mergers. Implementing these changes need to understand the key
References: Nadler, D. A.., & Tushman, M. L. (1999) ‘The organization of the future: Strategic imperativesand core competencies for the 21st century’, Organizational Dynamics, 28 (1), pp. 45–60. Child, J. (2005) Organization: contemporary principles and practice. Malden, MA: Blackwell Al Zedjali, H. (2011). “Oman Successful banks”: the power of banking industry. Oman magazine. No. 13 www.nbo.co.om/