Essay on Prudential Uk: Rebuilding a Mighty Business

2091 Words Feb 22nd, 2012 9 Pages
5 February 2012

Prudential UK:
REBUILDING A MIGHTY BUSINESS A case study answers
Submitted to the Department of Business & Social Studies In the School of Human Resource Development in partial fulfilment for the degree of Doctor of Philosophy in Business Administration Of Jomo Kenyatta University of Agriculture and Technology
Case Study - DBAS 4104 –Organisation Dynamics Solomon Kinyanjui HD 433-C002-2986/2011

Questions:
1. Discuss the relevance of Kotter’s model in bringing about change in Prudential UK. Professor Kotter 8 Step Process organizations can avoid failure and become adept at change. By improving their ability to change, organizations can increase their chances of success, both today and in the future.
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• Communicable: They are easy to communicate and can be explained quickly.
-Wood reinforced his vision to senior managers after every 30 days where he would form a circle an evoked mighty Pru.this gave the managers direction and focus
-Wood is determined to operate as a single integrated business.HR department is centralized
-wood quadrupled the advertising budget .and ploughs 50 million pounds to PruLab .
-Prudential to focus on more profitable ,higher margin business through targeted product range.

Step 4- communicating the Vision for Buy-in
• Use every vehicle possible to communicate the new vision and strategies
• Teach new behaviors by the example of the Guiding Coalition
In communicating the vision for the transformation, there are some things to keep in mind. The vision should be:
• Simple: No techno babble or jargon.
• Vivid: A verbal picture is worth a thousand words – use metaphor, analogy and example.
• Repeatable: Ideas should be able to spread by anyone to anyone.
• Invitational: Two-way communication is always more powerful than one-way communication.
-Wood uses a road show with the executive team ‘the change we have to go through may be painful, but it is worth sticking around for’
-Forward focus a monthly newsletter is launched to communicate the context and timescales of what is happening
-Prudential University with Warwick Business school-programmes in coaching and change management that targeted 350 middle and senior

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