BUS 6070 - FINAL PROJECT

ORGANIZATIONAL CHANGE PLAN FOR

NORRENBERGER GROUP

PRESENTED BY:

HAFSAT SALIU
(Head, Strategy)

TO

THE EXECUTIVE MANAGEMENT OF NORRENBERGER GROUP

MAY 19, 2023

DESCRIPTION OF CURRENT SITUATION
 Norrenberger Group (“Norrenberger” or “the Company”) is a leading, integrated financial services group
that provides bespoke financial solutions that add value to its clients (Norrenberger Group, n.d.). The
Company provides financial services to different sectors such as banking, agriculture, oil and gas, real
estate, manufacturing, etc. Its key services include asset management, investment banking and financial
advisory, securities trading, pension services, insurance services, fintech, and microlending (Norrenberger
Group, n.d.).

OUR VISION OUR MISSION

To simplify wealth creation. Positively unlock opportunities in society.

Practical and easily accessible products and services are We unlock opportunities in our society by providing

key to achieving and enhancing wealth. At Norrenberger, cutting edge investment options and access to

we aim to simplify your investment journey and by alternative financing which in turn allows people to bring

extension, help grow your wealth. their innovative ideas to life and expand their existing

businesses.

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DESCRIPTION OF CURRENT SITUATION
Norrenberger’s culture is integral to its ability to provide award-winning customer
service and is also built on the fundamental values that it holds dear. Every Norrenberger
Organization’s team member embraces these values and lives by them, not just at work, but in life.
At the core of its values, one will find (i) Respect for clients, (ii) Friendliness and respect
Culture between employees, (iii) Transparency in all its dealings, both internal and external, (iv) A
sense of belonging and communal ownership, and (v) Freedom to do good for the
company.

The Group believes there is alignment and continuity between its public and private
identities. It has adopted a transformational leadership style whereby its people are
tasked and motivated to mutually grow and improve the path to a company's future
Leadership Style success (Atmojo, 2012). The Group Managing Director (GMD) is responsible for defining
the strategy and the strategic direction of the Group as approved by the shareholders
through the Board of Directors. The executive management, representing their
subordinates, assists the GMD in defining the culture and identity of the Group.

Communication The Company adopts a top-to-bottom style of communication. The GMD takes
directives from the Board and communicates the expected goals to the Executive

Style Management. The Management team scales down this communique and disseminates it
across the various subsidiaries, departments, and units.

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DESCRIPTION OF CURRENT SITUATION
The current problems to be solved are:

1. Culture dilution
2. Recruitment
3. Digitalization of the Company’s record system management

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DESCRIPTION OF DESIRED CHANGE
What Makes The Change What Makes The Change Leadership Skills Required How To Communicate
Necessary: Desirable: To Implement change Change

• To increase productivity and 1. By Communicating Key

• Increased revenue and A transformational, visionary, Performance Indicators to the
efficiency, thus helping the
revenue growth rate and influential leader will be team. The success of a company
organization achieve its
• Higher market shares necessary here as he integrates is measured against a set of
strategic objective of
• Highly qualified employee creative insight, perseverance, targets, objectives, or industry
simplifying wealth creation. peers using key performance
base energy, intuition, and sensitivity
to employees and get many indicators (KPIs)(Twin, 2021). In
goals or desires on the general, employees should know
that analytics software and
organization and has an reporting tools will be used to
extraordinary impact on measure and track KPIs (Twin,
employees (Prabowo et al., 2018) 2021)
The leader must be innovative 2. The manager should discuss the
thereby nurturing with personal team's significant successes,
development needs of the team, failures, and improvement
stimulating, and inspiring them strategies (SalesEthics, Inc, 2018)
to offer their best efforts in 3. By actively listening to executive
feedback and acting on
achieving organizational goals it (SalesEthics, Inc, 2018)
(Atmojo, 2012) 4. Making employees the heroes of
the change account and
explaining the unique
responsibilities each person plays
are effective ways to
communicate desired change
(Ricks, 2020)

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DESCRIPTION OF DETAILED CHANGE PLAN
THE PROCESS FOR BRINGING ABOUT DESIRED CHANGE
More than ever, management is being challenged to modify
the process in a hands-on manner, which necessitates
knowledge of the most often-used change management
UNFREEZE CHANGE
models (Cummings et al., 2015). (Preparing the (Implementing
desired change)
Norrenberger intends to use Lewin's Change Management the desired
change)
Model to manage the changes it will undergo.
Kurt Lewin created the Lewin Change Management Model
in the 1950s, and it is widely regarded as the foundation for
understanding organizational change. There are three REFREEZE
steps to the change management model (Cummings et al., (Solidifying the
desired change)
2015).

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DESCRIPTION OF DETAILED CHANGE PLAN
PHASE 1 - UNFREEZE
At this phase, Norrenberger prepares for the desired change. The requirement for the desired change will be communicated to the
team. The communication plan will be very effective, with the long-term vision being communicated. All stakeholders and customers will
be engaged.

PHASE 2 - CHANGE
This is the phase where the transformation starts.
1. Culture dilution: ensure that all new employees undertake the onboarding process. The HR team who has the responsibility of
enforcing the company’s culture must be adequately staffed and trained.
2. Recruitment: all stakeholders from the board to individual teams should be properly sensitized on recruitment management. A well-
informed board will understand the need for a larger budget for recruitment and the team will understand the need to prioritize
activities in short-staffed situations.
3. Digitalization of the Company’s record system management: develop a digital process that makes transactions easier for both
internal and external customers.
The impact of implemented changes is communicated to employees.

PHASE 3 - REFREEZE
According to Lewin's Change Management Model, this is the last stage. The intended change will be established at this point (Toolshero,
2018). (i) Culture dilution: established and documented process for mitigating culture adulteration, (ii) Recruitment: board-approved
budget flexibility for recruitment and adaptable employees, (iii) Digital record system management.
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DESCRIPTION OF DETAILED CHANGE PLAN
PROJECTED TANGIBLE BENEFITS
The estimated tangible benefits that can be expected by implementing this organizational change plan, as
viewed as a leader's pathway to Norrenberger’s intended future are:
1. Increased productivity and efficiency.
2. More acquisition and retention of customers.
3. Customers will be completely satisfied.
4. Hike in revenue.
5. Robust culture and employee base.
6. A better working relationship between management and staff.
7. Increased market Shares.

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REFERENCES
Atmojo, M. (2012, May 5). The influence of transformational leadership on job satisfaction,
organizational commitment, and employee performance. INTERNATIONAL RESEARCH JOURNAL
OF BUSINESS STUDIES. Retrieved May 2, 2022, from
http://www.irjbs.com/index.php/jurnalirjbs/article/view/82/82

Cummings, S., Bridgman, T., & Brown, K. G. (2015, September 30). Unfreezing change as three
steps: Rethinking Kurt Lewin ... - sage journals. Retrieved May 2, 2022, from
https://journals.sagepub.com/doi/pdf/10.1177/0018726715577707

Norrenberger Group. (n.d.). About Us – Norrenberger. Norrenberger. Retrieved April 28, 2023,
from https://norrenberger.com/about-us/

Prabowo, T. S., Noermijati, N., & Irawanto, D. W. (2018, May 1). The influence of transformational
leadership and work motivation on employee performance mediated by job satisfaction. Jurnal
Aplikasi Manajemen. Retrieved May 2, 2022, from
https://jurnaljam.ub.ac.id/index.php/jam/article/view/1237

PAGE 9
REFERENCES
Ricks, A. (2020, June 26). How to Communicate Organizational Change: 4 Steps | HBS Online.
Business Insights - Blog. https://online.hbs.edu/blog/post/how-to-communicate-
organizational-change

SalesEthics, Inc. (2018, February 12). How sales managers can communicate effectively with
executive leadership. SalesEthics, Inc. Retrieved May 2, 2022, from
https://salesethics.net/blog/how-sales-managers-can-communicate-effectively-with-
executive-leadership/

Toolshero. (2018, April 13). Lewin's Change Model. toolshero. Retrieved May 2, 2022, from
https://www.toolshero.com/change-management/lewin-change-model/

Twin, A. (2021, June 7). Understanding key performance indicators (kpis). Investopedia. Retrieved
May 2, 2022, from https://www.investopedia.com/terms/k/kpi.asp

Zhang, T., Avery, G. C., Bergsteiner, H., & More, E. (2014, January 1). The relationship between
leadership paradigms and employee engagement. Macquarie University. Retrieved May 2, 2022,
from https://researchers.mq.edu.au/en/publications/the-relationship-between-leadership-
paradigms-and-employee-engage
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