DUE TODAY

4 Topic Selection Paper

Topic Selection Paper

The two companies that I have chosen for my course project are Santander and Shell. Santander is a company I am interested in researching because they are the bank that has financed my automobile. It was very surprising to me when I discovered that a European bank was behind the financing of my auto loan. Santander provides excellent customer service and has great products that made it be a fan of their business. It was truly interesting to see the changes they had to undergo in order to thrive in the UK market.

In 2008, Santander wanted to establish a stronghold in the UK banking sector but in order to do so a change had to be implemented. There was a worry that the longer standing financial institutions already had too strong of a legacy to compete with but they didn’t let this hold them back.

Santander’s made the risky decision to buy all these traditional financial institutions and unify them under the Santander brand. They needed to bring clarity and efficiency to their plan in order for it to be successful- they all had to be united and connected in the ‘Santander way’. The main focus that was made for the award winning change was the general understanding that had to be enforced was that all the old way was gone and they were embracing a new banking era- revolutionizing banking forever!

Not all businesses that implement a change are as organized as Santander were in this case. Everyone was fully briefed and risks and issues were discussed and mitigated. In change management it is important that everyone understands what is going on and how they are going to be effected in order for it to be an easier transition and Santander win the award for the smoothest major change! Congrats to them.

Their aim of the change to be embraced was met with minimum resistance. Santander is now one of the country’s leading retail banks and one of the largest providers of savings and mortgages (2016).

In 2004 Shell was facing an oil reserves crisis that hammered its share price. The situation was compounded by the abrupt departure of the oil group’s chairman, Sir Philip Watts. The new group chairman, Jeroen van der Veer, believed that in order to survive, the corporation had to transform its structure and processes. A series of global, standardized processes were identified. These, if introduced, would impact more than 80 Shell operating units. While the changes were vital to survival, they proved unpopular in the short term as some countries stood to lose market share. The message was a tough one, and many operating units balked.

However, for a change program of this scale to be successful, everyone had to adhere to the new systems and processes. The leadership of Shell Downstream-One, as the transformation was known, needed unflinching determination and to focus on gaining adoption from everyone involved.

Those leading the change had to ensure that the major players in all their markets knew what was required and why. They needed to be aligned with the change requirement. From the start, it was recognized that mandating the changes was the only way for them to drive the transformational growth they aimed for. This wasn’t an opt-in situation (n.d.)

References:

H. (2016). 5 Companies with Oscar Worthy Leadership and Change Management Strategies-Change! – Change Management News & Tips. Retrieved October 30, 2016, from http://change.walkme.com/5-oscar-worthy-exanples-of-change-management-in-business-history/

(n.d.) The 5 Greatest Examples of Change Management in Business History. Retrieved October 30, 2016, from http:www.managers.org.uk.insights/news/2015/july/the-5-greatest-examples-of-change-management in business-history