Organisational change and transformational strategies for enhancing a bank’s change and transformation during periods of turbulence

This study offers a critical analysis of the organisational change and transformation strategies for enhancing a bank’s change and transformation during periods of turbulence. As banks devise and apply different turnaround strategies to get the bank out of the crisis, the challenge often arises from the difficulties of applying the required accompanying change management strategies to enhance the bank’s transition from the crisis to the desired new state of operation and performance. To respond to such difficulties, this study used systematic review as one of the techniques for qualitative content analysis to evaluate and highlight the types of the accompanying organisational change and transformation strategies that banks can use during crisis management. In crisis situations where the bank has to make some radical and incremental changes to survive, systematic review suggests that process change and transformation must be integrated with cultural change and transformation in order to influence the bank’s seamless transition into the desired new state. In addition to radical or incremental organisational change and transformation, findings imply that if the nature of the bank crisis requires, these strategies must also be accompanied with the application of the organisational-wide/subsystem change and transformation. Though the use of a combination of such organisational change and transformation strategies may influence the bank’s seamless transition from the old system to the new state, future studies must still explore the challenges of managing organisational change and transformation during a bank crisis.