Table of Contents

Introduction
Models of strategic change
Relevance of models of strategic change to organizations in the current economy
Need for strategic change of the organization
Key forces for change
Factors that are driving the need for strategic change in an organization
Change management model
Stakeholders in change management
Manage the resistance for change
Monitor the progress
Conclusion
References

Introduction

Currently internal and external forces of the business environment are changed dramatically. Therefore businesses need to change their strategies according to changes of the environment. In this report, it will be discussed about the changes of the banking industry, how banks need to change their strategies. In banking industry, digital technologies has become a challenge for traditional financial institutes such as banks. In this study, it will be extensively discussed about the strategic change management of Hatton National Bank (HNB). HNB is one of leading commercial bank in Sri Lanka which operate personal banking, corporate banking, treasury, international banking etc.

Models of strategic change

Kurt Lewin’s three step change model is the most famous strategic change management model that widely use in the world. Three steps of change are as below;
 Unfreezing
 Change intervention
 Refreezing