Abstract
M.Comm.
Riding the wave of change is a challenge that companies often take on but just
as often fail in. First National Bank decided to take on such a challenge when
they merged with FirstRand Ltd. Moving from a second to a third wave company
was a challenge not only management faced, but all the employees of First
National Bank. The wave change required changes in various aspects of the
company, for example management styles, company structure and culture of the
company.
A performance decline was experienced during the process of restructuring.
Therefore management had to ensure that employees were motivated and
focused throughout the period of change. However is it possible to keep
employees motivated and focused? During this process of change the
atmosphere among employees was tense and stressful. How does management
assure their employees that the change is beneficial for them as well as for the
company? Managing the change and ensuring that it is successful is a responsibility that lies
heavily on management's shoulders. How does management guarantee successful change management? The aim of this study is to examine how First
National Bank and FirstRand ensured a successful third wave change.