The failure factors of change management initiatives within a large insurance organisation
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Date
2024
Authors
Hansi-Arendse, Thembakazi
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Free State
Abstract
Change management is an important concept for leading organisations through changes and transitions, by helping them adapt to new organisational strategies that are often put in place to increase an organisation’s capability, competitive landscape, and, often, to increase market share.
Apart from strategic changes, organisations, specifically insurance organisation, are often expected to comply with regulatory requirements and therefore need to be in a position to effect those changes should there be any regulatory changes from the bodies that govern the industry. The insurance industry is an environment categorised by strict regulations, technological advancement, and client expectations that evolve regularly; therefore, effective change management ensures that the organisations have operational resilience and are continuously at a competitive advantage.
This qualitative study explored the factors that contributed to the failure of change management initiatives within MMA in Gauteng, South Africa. The study made use of the descriptive research design and engaged 14 participants, through semi structured interviews to gather data and insights on the challenges that were encountered by the organisation when implementing change. The participants were employed within the organisation and were directly involved in change efforts.
The most important research findings were identified to include but not limited to change saturation, a culture of entitlement, insufficient or lack of understanding of the organisation’s strategic objectives, insufficient or lack of leadership commitment which contributed to the communication and engagement gap highlighted by some of the participants. The absence or lack of a designated change methodology was also highlighted by the participants as a critical contributor to change initiatives failing in the organisation. The literature review conducted demonstrated that these findings were not isolated to this organisation; rather, this was a global challenge faced by various institutions globally.
Description
Dissertation(MBA (Business Administration))--University of the Free State, 2024