Strategic Organizational Change: The Role of Sensemaking, Sensegiving and Leadership and Workforce Diversity in Banking Industry
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Date
2021-06
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A.A.U
Abstract
The study aims to analyze the effect of sensemaking, sense giving, leadership diversity, and workforce diversity on strategic organizational change in the banking industry. The employees of the Ethiopian banking industry established the study setting and all banks that started operation before 2019 were included in the study. The research followed a quantitative approach, explanatory design, survey method, and used a questionnaire as a data collection instrument. We adopted random sampling to select study participants and employed multiple linear regressions to capture the effect of the explanatory variables on the explained variable. As regression result revealed that the independent variables, sensemaking and sensegiving have significant and positive relationship with the dependent variable but leadership and workforce diversity don’t have significant relationship with the dependent variable, strategic organizational change. However, the standardized beta coefficient results indicate sensegiving affects the strategic organizational change initiatives of Ethiopian banks most, followed by sensemaking. The study concludes sensegiving shall be a focus by Ethiopian bank executives to be effective in strategic organizational change initiatives. This is important as sensegiving incorporates narratives that illustrate what happens behind important strategic change alternatives that guide how employees form their expectations.
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Keywords
Sensemaking, Sensegiving, Leadership Diversity, Workforce Diversity, Strategic Organizational Change