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ORGANISATIONAL CHANGE
What is organisational change in the context of banking institutions?
Organisational change refers to the process by which a bank or financial institution alters its structure, strategies, operational methods, technologies, or culture to adapt to internal or external pressures.
What is incremental change in organisations as opposed to radical change?
Small, gradual adjustments made continuously over time.
What are the primary forces driving organisational change in banks today?
Primary forces include technological disruption (fintech, digital banking), regulatory reforms by RBI and Basel norms, competitive pressures, economic shifts, and changing customer expectations.
What is the concept of 'unfreezing' in Lewin's change model applied to banks?
Breaking old habits and preparing employees to accept new ways.
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