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- Develop a organizational change plan that:
- Discusses the strategic changes that need to be made following a merger.
- Monitor trends in the external environment to identify trends that may impact the success of the merger. You should research data from government websites, statistics affecting the industry, etc for up to date current trends affecting the financial industry today.
- Looks at potential/ hypothetical operational change requirements following the merger.
- Lists the change requirements in order of importance.
This plan should be written with the financial institution board of directors in mind as you will have to present this plan to them. Once approved, you will have to develop and implement this change management strategy.
- Develop your communication/ education plan to promote the benefits of the change to the organization. The plan should aim to minimize loss and focus in implementing the strategy to bring the two companies together. You should also prepare a draft schedule of activities as a platform from which you can deliver the communication plans to all relevant groups and individuals in the financial institution.
- How will you consult with relevant groups and individuals for input to the change process before and after the implementation commences?
- What barriers to the change do you see as possible? Develop a risk management and mitigation plan for each.
- In your change management plan, include action plans and activities and the project timetable. You may use CRITICAL PATH ANALYSISor GRANT CHARTfor this, but may choose to use another method.
- How would you action interventions and activities set out in project plan according to project timetable.
- How will you activate the strategy and start the process for change?
- How and when will you conduct evaluation and review? When would you modify the change management project plan to achieve change program objectives?
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