Application of Six Images of Managing Change on Prudential Financials Inc.

by

ACKNOWLEDGEMENT

No words can express my appreciation and gratitude to my research advisor _______ through the course of this research, Professor _____has taught me numerous values that extend well beyond the realm of _________ (Your Subject Name). His emphasis on dedication to work and his valuable and practical insights of life are some of the major highlights of my education at The University _________. To Professor _____, I say with great respect, thank you very much.

It is a great honour for me to have Professor _______ on my dissertation committee. His insightful suggestions and comments are a major asset to this research. I learned so much from Professor ______, and I will always remember him as a truly superb teacher. To Professor _____, I am greatly indebted.

I would like to thank Professor ______ for his contribution to this research. Professor _____ has provided me with essential input and guidance as an outside member of my committee. His remarks and suggestions are greatly appreciated.

I would like to thank _____________ for the support they had provided me throughout the research project.

I would like to thank _____________ for their support and help in this research.

DECLARATION

In this thesis, I declare that the work presented in this thesis is my own work. I have not taken anything which is not referenced. This thesis has not been submitted anywhere in the past for academic or any other purpose. This thesis is the amalgamation of my research findings, literature review and my own views on the need for improvement in the quality of healthcare delivery system.

Signed __________________ Date _________________

ABSTRACT

This research is on the topic “Application of Six Images of Managing Change on Prudential Financials Inc.”. The company under research has been facing numerous issues arising from the economic downturn coupled the increasing debt taken by the management. These internal and external factors have affected the compensation system of the company. Employees appreciate the work life balance; at the same time, complain of the less competitive compensation. The company has been unable to manage this change in an efficient manner. On the basis of the primary and secondary research, which also included interviews with the personnel of the company, it was concluded that the role of care taker as a change manager is most appropriate in this case. Caretaker constantly manages the change with the acceptance of the fact that external factors are beyond the control of the company.

Table of Contents

ACKNOWLEDGEMENTii

ABSTRACTiv

CHAPTER 1: INTRODUCTION1

1.1Background of the Study1

1.2Problem Statement1

1.3Aim and Objectives2

1.4Theoretical Framework3

1.5Research Questions4

1.6Ethical Concern4

1.7Outline of the Study5

CHAPTER 2: LITERATURE REVIEW6

2.1Six Images of Managing Change6

2.1.1Image 1: Change Manager as Director6

2.1.2Image 2: Change Manager as Navigator6

2.1.3Image 3: Change Manager as Caretaker7

2.1.4Image 4: Change Manager as Coach8

2.1.5Image 5: Change Manager as Interpreter8

2.1.6Image 6: Change Manager as Nurturer9

2.2Prudential Financials Inc.10

2.2.1Historical Review10

2.2.3Current Performance11

2.3Compensation System of Prudential Financials Inc.11

2.4Change Management Issues in Prudential Financials Inc.12

3.1Research type14

3.2Research process14

3.3Research Philosophy and Choice15

3.4Research Approach16

3.5Research Data Collection Technique16

3.5.1Interviews16

3.6Validity and Reliability of Data17

CHAPTER 4: DISCUSSION AND ...