Evaluating the Effect of Change Management on Organizational Growth in Service Industries: A Case Study of Peace Microfinance Bank in Nigeria

Abstract

The purpose of this study is to evaluate the effect of change management on organizational growth in service industries, Peace microfinance bank is used in this case study. Descriptive survey research design was be used in this case analysis. An interview was also conducted. The population targeted was 15 management staff of peace microfinance bank, 12 responded to the survey. Purposive sampling techniques were used in selection of the respondents due to their designations. The data was collected by the use of structured questionnaire which contained 19 closed ended questions. We found that critical to the success of the change process are awareness to why change is needed and the level of urgency attached to it, top management commitment, level of team work, communication, participation and feed backs given to top management and lower staff. Moving forward we recommend for PMFB to focus on addressing resistance to change by getting all the management staff to commit fully to the change initiative. This will enable them influence other lower staff members to imbibe in the change. Being able to involve every individual in the change process can reduce resistance and enhance the quality of the change management.