OtherPapers.com - Other Term Papers and Free Essays

Analyzing a Change Process Through the Change Path Model

Essay by   •  August 5, 2017  •  Case Study  •  754 Words (4 Pages)  •  958 Views

Essay Preview: Analyzing a Change Process Through the Change Path Model

Report this essay
Page 1 of 4

Analyzing a Change Process through the Change Path Model.

Eileen Toole

Interview with George W.

George is a licensed relationship manager at a National Bank.  He has requested to remain anonymous. The bank that George worked for came to the realization that the underwriting procedures were inadequate, and not cost effective. They were in need of improvement and change. The process involved in obtaining a loan was time-consuming.  George explains that the decision process of acquiring a loan was not uniform.  He explains that the decisions were not consistent with regard to lending guidelines. If an individual wanted to obtain a loan, the underwriters held greater authority in loaning out the funds.  This procedure was changed by acquiring another bank (underwriter).

George explains that upper-level leadership carefully observed the organization’s business endeavors and was able to discern that customers were not being treated fairly.  The top leaders created a sense of urgency by bringing the right people together that were not afraid of confronting an issue that may often time be avoided.  

The average time for a home equity line approval from the time of application to closing was approximately 45 days.  The new underwriter team that was brought over with the acquisition eliminated the time frame by 15-20 days per application; thus increasing efficiency and customer satisfaction.  The original underwriting process left customers unsatisfied. This dynamically created conflict and lack of customer loyalty. Since the changed system it has become apparent that the loan process is a lot smoother and customers have expressed their satisfaction.  

The leadership's keen understanding of the need for change and then having the ability to articulate this sense of urgency were important components in the process that unfolded next.  The anticipated vision for this bank's future was to extend more lending opportunities and a stronger balance sheet (more assets compared to liabilities).  This vision was communicated from the top down.  The need for this change was communicated through out the chain of command and several levels of management (regional and district).

The change plan was communicated via video, E-mail, conference calls, in person regional meetings, as well as branch huddles. The entire organization was deeply committed and involved in the process of this change.  George explains that each branch was responsible for sending staff to several states for training and coaching.  Each branch appointed a trustee to initiate and implement the changes.  

Stake holders of this bank were identified as the shareholders- financial partners- employees and customers and clients.  George explains that everyone involved including all of the stakeholders was kept abreast of information leading up to the change.  Once the change was in place, all information was continuously dispersed. (i.e.) positive outcomes such as customer satisfaction increase in loans.  



Download as:   txt (4.6 Kb)   pdf (68.1 Kb)   docx (9.6 Kb)  
Continue for 3 more pages »
Only available on OtherPapers.com
Citation Generator

(2017, 08). Analyzing a Change Process Through the Change Path Model. OtherPapers.com. Retrieved 08, 2017, from https://www.otherpapers.com/essay/Analyzing-a-Change-Process-Through-the-Change-Path/61441.html

"Analyzing a Change Process Through the Change Path Model" OtherPapers.com. 08 2017. 2017. 08 2017 <https://www.otherpapers.com/essay/Analyzing-a-Change-Process-Through-the-Change-Path/61441.html>.

"Analyzing a Change Process Through the Change Path Model." OtherPapers.com. OtherPapers.com, 08 2017. Web. 08 2017. <https://www.otherpapers.com/essay/Analyzing-a-Change-Process-Through-the-Change-Path/61441.html>.

"Analyzing a Change Process Through the Change Path Model." OtherPapers.com. 08, 2017. Accessed 08, 2017. https://www.otherpapers.com/essay/Analyzing-a-Change-Process-Through-the-Change-Path/61441.html.