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Abstract
The study examined the relationship between Organizational Change and Corporate performance deposit money banks in Port Harcourt. The Survey research design was adopted for the study. The study was designed to focus on some deposit money banks in Rivers State where primary data. The population of the study is designed to constitutes all management and junior staff of selected form the human resources department of the deposit money banks in Rivers State which are denoted as =70 and 52 =60.The population of the study was made to be 51 one hundred and thirty (130). A self-designed questionnaire on organizational change and corporate performance was used and administered for the collection of data from the respondents in deposit money banks in Rivers State. The instrument used in the data collected is interview and questionnaire method which are seen as being more effective and stable for a research of this nature. The Taro Yemen’s formula was used to determine the sample size of 104. The simple percentage was used to analyze the response. The Chi-Square (X2) statistical tool was used to test the hypotheses. Finding reveals that there is a significant relationship between Organizational Change and Corporate performance. Based on the findings of the summary conclusion and recommendations were made that Technology has influenced employee’s performance since it simplifies the work to be done and also making work more efficient, Strong organizational culture will help to build good relationships based on their values, norms, behaviors, and perceptions. Culture improves on how the individuals view their work and Leadership change leader’s mind-set, style, and behavior, and the change process they design as a result of their orientation, must catalyses employees to want to participate, to choose to contribute, rather than force them to do so.
Table of Contents
Title Page i
Cover Page ii
Abstract iii
Declaration iv
Certification v
Dedication vi
Table of Contents viii
List of Tables x
List if figures xi
CHAPTER 1 1
INTRODUCTION 1
1.1 Background of the Study 1
1.2 Statement of the Problem 3
1.3 Objectives of the Study 5
1.4 Research Questions 5
1.5 Research hypotheses 5
1.6 Significance of the Study 6
1.7 Scope/Limitation of the Study 6
1.8 Definition of Terms 8
CHAPTER 2 10
LITERATURE REVIEW 10
2.1 Conceptual Review 10
2.1.1 Concept of Organizational Change 10
2.1.2 Dimensions of Organizational Change 12
2.1.3 Corporate Performance 15
2.1.4 Corporate Performance 17
2.2 Theoretical Review 20
2.2.1 Kurt Lewins Change Model (1951) 20
2.3 Empirical Review 22
CHAPTER 3 24
RESEARCH METHODOLOGY 24
3.1 Research Design 25
3.2 Population of the Study 25
3.3 Questionnaire Design 26
3.4 Source and Method of Data Collection 26
3.5 Sample and Sampling Techniques 26
3.6 Data Analytical Techniques 27
3.7 Reliability and Validity 28
CHAPTER 4 29
DATA PRESENTATION AND ANALYSIS 29
4.1 Questionnaires Administration and Retrieval 29
4.2 Data Analysis 30
4.3 Testing of Hypothesis 34
4.4 Discussion of Findings 36
CHAPTER 5 38
SUMMARY, CONCLUSION AND RECOMMENDATIONS 38
5.1 Summary 38
5.2 Conclusions 38
5.3 Recommendations 38
References 40
Appendix II 42
List of Tables
Table 4.1 Questionnaires Administration and Retrieval 29
Table 4.2: show age bracket of respondents 30
Table 4.3: show sex of respondents 30
Table 4.4: Academic qualification 31
Table 4.5: Marital status 31
Table 4.6: Strategic change associate with corporate performance of deposit money banks in Rivers State. 32
Table 4.7: Response showing if incremental change associate with associate with corporate performance of deposit money banks in Rivers State. 32
Table 4.8: Response showing if transformational change associate with associate with corporate performance of deposit money banks in Rivers State. 33
Table 4.9: Response showing if organizational culture associate with associate with corporate performance of deposit money banks in Rivers State. 33
Table 4.10 Contingency Table 34
Table 4.11 Chi-Square Table 35
List if figures
Fig. 2.1: A Conceptual Framework Showing the Relationship between Organizational Change and Corporate Performance. 10
CHAPTER 1
INTRODUCTION
1.1 Background of the Study
Corporate performance is based upon the idea that an organization is the voluntary association of productive assets, including human, physical, and capital resources, for the purpose of achieving a shared purpose (Carton, 2004). It is said that the essence of performance is the creation of value. Therefore, value creation, as defined by the resource provider, is the essential overall performance criterion for any organization. According to Richard (2008) and Leito and Franco (2010), business performance encompasses three specific areas of firm outcomes: (i) financial performance (profits, return on assets, return on investment, etc.); (ii) market performance (sales, market share, etc.); and (iii) shareholder return (total shareholder return, economic value added, etc.).
A business organisation could measure its performance using the financial and non-financial measures. The financial measures include profits, return on assets, return on investment and sales, while the non-financial measures focus on issues pertaining to customer`s satisfaction and customer`s referral rates, delivery time, waiting time and employee`s turnover. Bucklin and Sengupta (1993) claim that financial measures of performance such as sales and profits, may not clearly reflect the quality of the firms’ performance. Financial measures are objective, simple and easy to understand and compute, but in most cases, they suffer from being historical and are not readily available in the public domain. Geringer and Hebert (1991) suggest that financial data are often not published, and when that type of data is made public, it will be merely incorporated in calculations of financial performance. In fact, a financial measure is unlikely to capture the relative performance of the firms.
At the present time, there are rapid changes in organization which increased the markets and opportunities in terms of gaining the growth and revenues. Normally, the concept of organizational change more regards to the organizational wide change that would include the change in term of mission, restructuring operations, mergers, collaboration and others. There are research sayings that organizational change means organization transformation (Kotter and Schlesinger, 2008). It is seen that employees that are working in the organization start to have a feeling of nervousness, stress and lack of self-confidence when organization turn towards change such as downsizing, restructuring as well as merging and other.
Facing of the tide of globalization, one of the major challenges for human resource professionals is how to gain organizational competitive advantage in the rapidly changing environment. For any organization, an appropriate manpower structure in one approach to maintain effective organization performance. Value is defined as the beliefs in terms of teamwork, customer service and respect for each other. When change arises in the organization the leaders have the chance to lead employees to have better ways to implement change. In another words, it means that the leaders can inspire the employees and move their organization into a new direction, provided the new direction is in agreement with their essential values. Through this, the employees „obligation and energy are fuel by the value that moves the organization, Pierce (2003).
The 2022ing scenario in Pakistan has changed significantly since the Asian economic crisis. Organizations has now being facing globalization and due to this are facing organization changes like reorganization as well as greater variation in workload due to rapid incremental changes. The employees of the 2022ing sectors have the fear towards the changes of working environment, organizational culture and organization management, as they want to learn but they are reluctant to be taught. It is very important that employees must be physically attached to their 2022s and organization should make them feel as a part of organization.
It can affect the efficiency and effectiveness of the organization and ultimately affect the accomplishment of predetermined organizational goals as well as the employee’s performance. With the organizational change in order to survive in the competitive industry the individual and organization, they should have the ability and must be capable to adapt change to cope with the changing environment. As change will be ever present, you not only learn or understand them but you need to have skill to manage and lead effectively so that organization sustain themselves in the market and employee‟s performance would not drop as cited in (Rashid, 2004).
The communication network has become significant when the environment is dynamically changing. Open communications plays an important role as it raises faster it can bring to the earlier of sharing the information as cited in (Qian, 2007). As communication is the key to collaborations to work together towards change.
The report provides a comprehensive background to the study of focusing on the research topic. Specifically, this research is aim to examine the impact of or ganizational change towards employees‟ performance. In depth, this report presents an overview of the scenario with verbal interview based answers of the questions, verbatim coding, initial and focus coding, thematic analysis and finally conclusion.
1.2 Statement of the Problem
Based on the past empirical studies, present researchers identified few concerns from the literatures review. Some employees might feel nervous and stress to the changes of the organization as they are more familiar with old organizational environment (Ashford et al., 1989)as cited in (Nicolaidis and Katsaros,2007). Changes may cause decrease of employees productivity and morale. It subsequently brings a negative impact towards employees‘ performance. Customer service is very important in oil servicing firm. Employees need to face with the customers in every working day. Therefore, employees are playingan important role in this industry. If employee‘s performance decreased, it may affect the firm‘s reputation and profitability.
Besides, uncertainty and fear would cause the employees reluctant to change (Pietersen 2002) as cited in (Dulger, 2009).Employees are concerned their employment, own benefits and wealth fare after the change. They are afraid of whether the organizational change would bring a good or bad impact towards their employment and benefits. Thus, the employees may not have the motivation to work hard for the organization and their performance would be affected as well. The employee‘s motivation is very important for helping the 2022ing industry to achieve a good result, reputation and profitability. Hence, by giving a good benefit and reward to the employees will make them work hardly to complete their task efficiently and effectively. When an organization decided to change, the employees might feel that they did not belong to the organization if the process of the change did not involve the employees. They might have the feelings that the organization disbelieves themselves and resulting low morale and motivation among the employees. There have some 2022 which they only make decision by the top management, and not involve their employees to give their opinion during decision making. The employees are just following the decision that make by the top management. As a result, the employees‘performance might be dropped. Employees‘ ability to absorb the organizational change would be one of the important issues. In order for the employees to secure their employment in the organization, they need to have the ability to adapt to the changing environment. There is not only the need to understand the human factors, but also the need to have the skill to manage and lead change effectively and efficiently to maintain or even to improve their own performance. Employees need to have a good communication skill when dealing or communicating with customers, beside that they also need to have their certain skill to compete with other employees. So it‘s very important for an employee to have a multiple skill to secure their position on the oil sector.
1.3 Objectives of the Study
The main objective of this study is to examine the relationship between organizational change and corporate performance deposit money banks in Port Harcourt.
In specific term, the study is aimed at:
1. Examining the relationship between incremental change and corporate performance deposit money banks in Port Harcourt.
2. Examining the relationship between transformational change and corporate performance deposit money banks in Port Harcourt.
3. Examining the relationship between strategic change and corporate performance deposit money banks in Port Harcourt.
1.4 Research Questions
The following research questions will aid and guide the process of this research work:
1. Does incremental change influence corporate performance deposit money banks in Port Harcourt?
2. Does transformational change influence corporate performance deposit money banks in Port Harcourt?
3. Does strategic change influence corporate performance deposit money banks in Port Harcourt?
1.5 Research hypotheses
The following hypotheses were formulated to guide the study:
HO: There is no significant relationship between organizational change and corporate performance deposit money banks in Port Harcourt.
HA: There is a significant relationship between organizational change and corporate performance deposit money banks in Port Harcourt.
1.6 Significance of the Study
The research under study is designed to benefit the society and the respective corporate organizations, particularly the commercial banks within the state. Through active practices of resilience in the organization, promotion, decision making and active communication between the employees in the can always be realized. In the banking sector, as well as other organizations will see the research study more useful in controlling the productiveness and adaptability behavior of the organizations.
An added benefit of employee performance concerns the positive spillover effects resilient employees will also be better equipped to handle challenges outside or work, and by facilitating employee resilience, organizations can support community resilience. We integrate employee-level information with specific organizational initiatives to create a deeper understanding of whether the processes currently in place effectively support resilience among employees. In addition, we identify areas of intervention to address and facilitate Workers Performance. The goal of our research and collaboration with practitioner is to contribute to resilient employees, who are healthy and active contributors in their organization, as well as in their community. Resilience in organizations and among employees is relevant in any context which introduces challenges and change, and transcends a post-disaster context. We therefore couple rigorous scientific methodologies with practitioner expertise to encourage organizations to capitalize on employee resilience, and guide the process of increasing Workers Performance and performance through staff capabilities.
1.7 Scope/Limitation of the Study
The study is delimited under the following heading: content scope, geographical scope and unit of analysis.
Content Scope: The content scope of this study involves on investigation to ascertain the relationship between organizational change and corporate performance.
Geographical Scope: This study is delimited in Port Harcourt Metropolis with special reference to selected deposit money banks in Rivers State which include Union Bank Trans-Amadi andFirst Bank Garrison Junction and Fidelity Bank. In course of carrying out this research, the researcher met with a lot of constraints. Among these constraints is: Time frame which this research was expected to be completed which was too short.
The cost in carrying out this research work act as a barrier as we were not financially buoyant to carry out all investigation.
Assembling the relevant materials needed for this work was a problem. It is difficult due to the fact that some of the respondents were not willing to give us the required corporation.
1.8 Definition of Terms
The Following terms were operationally defined as follows;
EFFECTIVENESS: It is the capability of producing a desired result or the ability to produce desired output. When something is deemed effective, it means it has an intended or expected outcome, or produces a deep, vivid impression.
EFFICIENCY: It is the ability to avoid wasting materials, energy, efforts, money, and time in doing something or in producing a desired result. In a more general sense, it is the ability to do things well, successfully, and without waste.
CORPORATE PERFORMANCE: Productivity is a measure of the quantity and quality of work done, considering the cost of the resources used.
GOAL ACHIEVEMENT: A goal is a desired result or possible outcome that a person or a system envisions, plans and commits to achieve: a personal or organizational desired end-point in some sort of assumed development. Many people or organizations endeavor to reach goals within a finite time by setting deadlines.
ORGANIZATION STRUCTURE: Strategic change enables an organization to have common views and mission.
ORGANIZATIONAL CHANGE: It is the process of continually renewing an organization direction, structure and capabilities to serve the ever changing needs of external and internal customers.
ORGANIZATIONAL CULTURE: It is a mixture of values, sets, beliefs, communications and explanation of behaviour that provides guidance to people. Organizational culture comprises the unwritten customs, behaviors and beliefs that determine the rules of the game for decision-making, structure and power.
TRANSFORMATIONAL CHANGE: Employees are the most important assets in organizations, which without, the goals and objectives may not be attained.
INCREMENTAL CHANGE: Organizations have undergone a revolution in the adoption and application of complex information technology. In the hope of extracting the greatest value from innovations, organizations have adjusted their management structures, work processes and culture.