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Innovation Essay

1881 words - 8 pages

Introduction This paper will discuss how the changes in the external environment and changes within NZI (New Zealand Insurance) Corporation led to make radical and progressive organisational and operational change.This paper will discuss how NZI embraced the new Government legislation, which led to the deregulation of financial markets and used this opportunity to increase profitability and gain competitive advantage over a number of areas within their organisation.I will also discuss how NZI not only analysed their own internal operations but also looked at the external markets to assess their adaptability with the view to compete more aggressively in order to increasing company profitability. The essential driver in achieving this outcome was implementing a new computer system named "˜POLISY'. This paper will discuss how this system was implemented and the ensuing effects on organisational culture.Additionally I will be discussing how NZI used the "Power" model to implement the changes and the likely increased succuss factors had senior management adopted the "Systems View Model" within the transition period.I will also address specific effects the changes had on particular jobs and roles of those involved.New Zealand Insurance's Implementation of Competitive Change In the 1980's, the Australian Government introduced regulatory changes that seriously affected the viability of the insurance company products and the nature of corporate operations. These changes deregulated the financial market and opened it up to internal competition. Old traditional insurers were faced with a volatile external environment and as such, they needed to implement radical change or face the very real proposition of going out of business.In the case of NZI they used this opportunity to implement, radical and aggressive change aimed at reducing massive underwriting losses and increasing profitability.The board established an interim management team, whose primary objective was to "˜Turn the company around'. The new General Manager emerged from this team, a person who filled the role of the "˜Change Agent' while possessing a number of skills associated with that of being a corporate magnate. The new interim team was fully aware of the need for change and the associated goals that needed to be achieved, which resulted in the "top- down" approach being adopted.The suddenness and aggressiveness of the changes shattered the existing traditionalism and therefore raised a number of cultural issues that I feel were never effectively addressed: The clashing of two different organisational cultures.The removal of traditional career paths and incremental pay rises.The loss of manager and employee empowerment and autonomy at the local level.The loss of job enrichment as staff was reduced to computer operators.Invasion of technology into a non computer-literate culture.To achieve these changes NZI management used the "Power Model" (MITC Study...

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