Assessment of Change Management Practices Effect on Strategy Implementation: the Case of Hebret Bank S.C.
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Date
2023-06
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Addis Ababa University
Abstract
The goal of this study was to examine the various components of the Bank's strategy by assessing how strategic execution affected Hibret Bank's change management procedures. An explanation-focused research design was employed. Both primary and secondary data were used in this investigation. Secondary data were obtained by looking through textbooks, journals, financial records, and internal Hibret bank records. Primary data were gathered through questionnaires. A total of 103 questionnaires were given, and 96 of them received responses, for a response rate of 93.20 percent. The study's results revealed that employees were unaware of the bank's well-documented plan, despite the fact that it was made by a foreign consultant. The development and evaluation processes did not involve employees or middle-level managers as stakeholders. According to inferential analysis, organizational change management methods and the dependent variable strategy implementation had a positive correlation. The accessibility of the approach was only overseen by top managers. The implementation of the plan was limited to employees only. Workers and middle management were doing a task assigned by high management. They were incapable of starting the plan on their own. Regarding the strategy's ability to affect change within the company, the report advises the bank's management to implement some significant corrective measures. One suggested action is to educate Bank staff members on the strategy and the significance of its implementation