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Organisational Learning and Change Assignment

Learning Outcome 1: Critically analyse and critique the major theories of organisational learning.

Learning Outcome 2: Critically analyse and explain the dynamics of strategic organisational change.

Learning Outcome 3: Critically review and evaluate the reasons for different approaches to change, and demonstrate an ability to apply this understanding to volatile or novel organisational contexts.

Learning Outcome 4: Critically analyse and critique common perspectives on the role of, and relationship between, individuals, teams and leaders in the change process.

Learning Outcome 5: Integrate biblical frameworks into a contemporary understanding of organisational learning and change.

Learning Outcome 6: Integrate the concepts of organisational learning, strategic and innovative change management with leadership theory and practice.

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Question: Analyse organisational change and propose recommendations with the aim of improving the situation.

Solution:

ORGANIZATIONAL LEARNING AND CHANGE 

1. An introduction to the organization
Organizational learning can be explain and referred as continuous progress from no learning to complete learning. It is an ongoing process with establishes a long-term changes in various areas as a result of explained action. It improves ability and capability of an organization in order to increase for the learning process. It also involves different changes in the organizational structure, within the organization or in its Technology. BGC has been founded in 1945 which has been named in the honor of B. Gerald Cantor. BGC is a financial services form currently focuses on institutional Financial Services. BGC partners is a brokerage company which give services to financial and real estate markets. The Organization offers wide range of services which includes trade execution, trade institution, broker dealer services, etc. organization has been design in order to provide flexibility to its consumer in relation to execution of transaction, processing of transaction, price Discovery and it also enable the consumer to use voice in different markets and brokerage services related with transaction through an exchange or over the counter. The organization provides Financial Technology solution, trade services, electronic brokerage, through BGC trade, capitalab brands, and Lucera and BGC market data. The company has various consumers such as investment bank, government, and property owner, trading firm, real estate developers, banks, corporations, broker-dealers and investment firms.

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2. Internal and external analysis of the organization
The BGC determine internal and external forces for change in order to improve quality of goods and services, improve revenue and maintain loyalty of the employee. By identifying forces for change this organization can adopt different business strategy, can improve and adopt other Technology, can promote employees and can make plan for the future. This analysis help this organization in determining the need of change in different areas. The management of the organization can handle and control these changes if necessary in order to develop the organization.

SWOT analysis
Strength
Strong dealer community
The organization has beenestablished a strong culture among the dealers and distributors where dealer helps company in promoting companies product and also invest money in training the employers and team in order to explain the nature of the consumer and their taste and preference through which the company can earn maximum profit from the products and can increase sale.
Strong distribution network
The BGC Company has been made a positive distribution network over the years through which the company can easily reach majority of its probable market.
Strong brand portfolio
The BGC Company has been invested a lot of money in building strong brand portfolio. In the words of Jordan et al. (2015), the brand portfolio of an organization is very important and useful if an organization wants to expand and established new product.
Strong free cash flow
The organization has a very strong free cash flow which helps this company in aims to expand its current projects and new products in the market.
Weaknesses
• The BGC Company has a very low money and financial position and needs to invest more in all the new technologies in order to explain the process.
• The financial planning of the company is insufficient and improper. Thecompany's liquid assets ratio and current assets ratio suggest that the company needs to use the cash in a more efficient manner.
• The business companies net contribution and profit are below the industry average
• The BGC Company is not able to handle the competition presented by the competitors and the new entries in the market. In the words of et al. (2015), the company needs to establish feedback mechanism from its team in order to solve and face the challenges.
Opportunities
• The BGC Company has got many opportunities through new in order to processing different pricing strategy within the market. The company also got opportunity to maintain its loyal consumers by providing high quality Services.
• The BGC Company has invested in many platforms which helps this Organization in increasing the sale of its product and also increases its sales channel, through which the company can get to know the taste and preference of its consumer and their perceptions.
• The BGC Company has got opportunity by adopting all the new technologies and through government free trade agreement to enter into the new market and to remain competitive.
Threats
• The company has faces less supply of new innovative product because the company has establishes and produced different products that are less demanding. The supply of its innovative products was not regular which effect the sale of the company.
• The buying behavior of consumer changes from online channel which can refer as a threat.
• The BGC Company has a large number of competitors and has faces a huge competition in the market even with the new entrance over the last few years.
• The company's workforce was less professional which represents as a threat and as a result it decreases the growth and profit.

PESTEL Analysis
Political factor
Australia is the 6th largest city in the world. Its total area is 77 41220 square. It maintain a good relation and Association with the United States. The political environment of this country is safe and stable. It has been criticized by the New Zealand minister of Justice. The country has been also criticized by the United Nation in some areas such as treatment of refusing, protection of human right, indigenous right, etc.
Economic factor
Australia has got 13th position in terms of economy in the world. The economy of Australia grew by 2.4% but its expectation was around 3%. The tax rate of the company in Australia is 30%. The tax rate of an individual for the income more than $18200 is zero, it will be higher if the income of an individual increases or higher.
Social factor
In terms of education, health, quality and wealth Australia is referred as one of the best country in the world to live. The population of Australia is of 22.9 million. In the words of Stoll et al. (2017), a policy of mass immigration has been adopted by the Australia after the Second World War. Migration is a sensitive issue in Australia. Australia has a large number of public which attract international students from different countries such as Brazil,India, Malaysia, China, Nepal, etc.
Technological factor
Australia is referred as the most advanced technology countries in the world. In the words of Visseret al. (2017), in technology it has gain a huge growth. In 2018, the technology purchase by Australia will grow 4% to $63 billion and in 2019 to $65 billion.
Environmental factor
Australia has large numbers of beaches, forest and mountains which make Australia a beautiful country in the world and also known for is biodiversity. Australia also faces different environmental challenges such as climate change, it is one of the greatest challenge. In the words of Holyoake and N et al. (2017), it has been found that in Australia climate change can refer as a security risk the outcome of such climate change our regional conflict over food, infectious diseases, conflict over Water, conflict over land and water insecurity.
Legal factor
The Australia has competitive laws, fair trading laws, consumer laws. The primary piece of legislation is the fair work act which handles the employment in the country and primary laws state that how business tackle its consumers' personal information.

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3. Literature review - theories of change Management
1. Lewin's change management model
Lewin's Change management model is an effective model which helps an individual to understand the structural and organizational change. It has three stages:
Unfreeze
The first step is unfreeze which includes preparation for the change. In the words of Owen and W et al. (2017), it means the BGC needs to be prepare a plan for the change and also needs to understand the importance of such changes. This stage aim to make people understand about the need of change within the organization and how such change can increase profit.

Change
This is the second stage, in this the change take place. This process is a time taking process, the employees of the organization have to spend time for the development and growth of the organization through changes. In the words of Nobre and A. L. et al. (2016), this stage involves a good leadership because it needs an effective direction and guidance in order to make process easier for every individual. Communication is a key in order to be successful in planning.

Refreeze
This stage is referred as refreeze when those changes has been implemented by an individual and by the organization and the company again become stable. In this stage the staff and the employees begging to refreeze and they started the process in a new way and they start with their routine. In the words of Bamberryet al. (2015), this tape need help of different people in order to make changes and to determine whether the changes has been implemented effectively.

2. Kotter's change management Model
Kotter's Management Theory is a popular theory and it has been adopted by a huge number of organization. It has eight stages:
Increase urgency
This stage involved generating an impression of urgency within the people which aims to motivate employees towards the goals and objectives.
Build the team
This stage include hiring the right people and assigning the right work to the right people within the organization by determining their skill, commitments, knowledge, ability, capability etc.

Get the vision correct
This step includes establishing a correct vision by undertaking the strategies, creativity, innovations and objectives.
Communication
Communication is one of the most useful stage in this theory which relate to communicating with the people regarding needs of change and making people understand about the importance of change.

Get things moving
In order to get things active and moving an individual needs to get support, remove the hurdles and obstruction and appliance the feedbacks in an effective way.

Focus on short term goals
This stage focuses on short term goals and also divide the long term goal into different small parts. In the words of Corfield et al. (2016), it is one of the most effective way in order to gain success without a lots of pressure.

Don't give up
In this stage endurance refers as a key to achieve success and it is important which enable an individual not to give up during the Change management process even if an individual is facing a tough challenges.

Incorporate change
This stage focuses on rebooting the strategy along with managing the change effectively and it is one of the most important part of an organization culture.

3. Nudge theory
Nudge Theory is a Theory that uses in Economics behavioral science as well as Political Theory and can easily be used to Change management in an organization. This theory include inspiring an individual or a group of people to change. It also explain them different ways and concepts in order to eliminate them or to change them and make people understand about the existing issues. This theory focuses on changing the thinking and perception of the people and making understand people about the change. In the words of Waddell et al. (2015), the main advantage of this theory is it undertake the people with difference in opinions, feelings, thinking and knowledge and also relate the real life situation along with their nature and behavior.

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4. Evaluation of change strategies
• Leverage technology to advance education
In an organization skill development is a key to success and technology is one of the toughest area where employee skill is needed. Giving training to employees and staffs during the change management is a challenge. Theorganization needs to train their staff about the new technologies and services and should allow their staff to take part in management change process. In the words of Kyndtet al. (2016), this training will help and individual to advance their knowledge and skill through their different learning style. This strategy helps BGC in increasing the internal and external environment of the company during the change management and also improve the way of managing change.

• Conversation regarding change management early in projects
In the environment of project management, the process of change management is a separate discipline which include use of tools and processes in order to manage change. Without change management an individual cannot communicate and monitor the changes. The management and leader of the BGC need to talk about the change management among the workforce and they needs to make people understand why such changes are required. In the words of Edmonstone and J. D. et al. (2018), they should explain all the information's, tools and techniques, method and strategy required during the process of change management. This Organization needs to make communication plan in order to communicate with the employees. In the words of Mann, communication plan is a tactics of a greater change strategy.

• Create and maintain a culture of embracing change
In an organization managing change is always a tough process which creates different issues such as fear among staff, conflict among team members and Groups, conflict between departments, unnecessary, chaos, etc. Culture can be measured by the employees and staff through the barometer such as communication frequency and style and behavior. The leader of the organization should help the employee in order to adapt to changes and should not leave the conversations for too long which results in creating fear within the employees. In the words of Ceulemanset al. (2016), the leaders needs to express the fact through their actions that they have adopted the change. This company needs to create a portal which allows the employee to know about the updates and also allows them to ask questions and get response. The organization needs to allow their employees to take benefits of training so that they can share their thoughts and can talk about the changes along with the impact of their work.

5. Recommendations
• Normative re educative strategy
Successful change is totally depends on re-interpreting the existing values and improving and establishing the commitments and promises to the new consumers. This strategy focuses on culture which include what people think about their world, themselves and their work. Culture of an organization is in the rack of informal organization as it is a formal organization, in this the normative re educative strategy is the best strategy when the relationship between informal organization and formal organization are cordial and peaceful. All the organization how long term and short term goal in relation to change and long term change strategy has to assimilate different facet of the normative Re educative strategy. This strategy include involvement of informal leaders of the organization and keeping them in one channel.

• The environmental adaptive strategy
Change is totally depends on establishing a new organization in a new pattern and shifting the employees in a new place. This will also transfer and shift the pressure of change. This strategy will help this organization to divide the burden among the people. In the words of Duffield et al. (2016), it accomplished an individual's adaptive nature and also reduce the complications in trying to change individual and their culture. This strategy refers as self-disassemble. In the words of Pradhan et al. (2017), it is very difficult to changing the environment and culture of an existing organization so instead of transforming the existing organization, it is easier to create a new organization. So that the old people can easily shifted to the new one and the employee of the organization instead of facing the changes they face the challenge of adapting in new circumstances.

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6. Resources for implementing the Strategies.
The above information has been taken from the secondary research and the stages of implementing change are:
• Communicate the rationale behind the need for change
The first stage in introducing any change is to make understand and explain the employees why it is important to change and what is the benefit of such change. This information needs to be communicate effectively and there should be an opportunity for the employees and people to ask the question and the BGC should allow their employees to contribute their opinions and thoughts.
• Implement the change in phases
Most of the changes broken down into different phases which can be looked after along the way. Collaboration is one of the key to success if the environment condition allows the organization to have a group of employee in order to test the change is a better way to assure that what is going on and why it is happening.
• evaluate, review and report on change
Properly examining and controlling the entire change process is important whichaims to calculate its effects and results. In the words of Mulaet al. (2017), the organization needs to inform people about the things, process and how the organization is progressing in order to achieve the objective. The employee needs to understand about the needs of the changes and their effects.
 
7. Conclusion

Change management is a method which has been prepared in order to provide support organization, team and individual during the organizational change such changes include process review, consumer habit change, Technology evolution etc. In the words of Roomeet al. (2017), organizational learning is an ongoing process with establishes a long-term changes in various areas as a result of explained action. In this study the internal and external environment of the BGC has been determines through SWOT and PESTEL analysis. The company should apply different strategies in order to make people understand about the needs of change within the organization and its benefits to them. It has been concluded in the above study that by identifying forces for change this organization can adopt different business strategy, can improve and adopt other Technology, can promote employees and can make plan for the future. Theorganization needs to train their staff about the new technologies and services and should allow their staff to take part in management change process. In the words of Tam et al. (2016), this study includes three different management theories in order to manage the change within the organization which include lewin's change Management Theory, kotter's change Management Theory and nudge theory. The normative re educative strategy is the best strategy in order to manage change within the organization. The management and leader of the BGC need to talk about the change management among the workforce and they needs to make people understand why such changes are required. Leader should explain all the information's, tools and techniques, method and strategy required during the process of change management to their workforce. It has been concluded in the above study that the leaders needs to express the fact through their actions that they have adopted the change.

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