The goal of the model was to show how seven elements of the company could be aligned to achieve effectiveness:
i. structure ii. strategy iii. skills iv. staff members
v. style vi. systems vii. shared values
The key point of the model was that all seven areas were interconnected and a change in one area required change in the rest for a firm to function effectively. Johnstone (2015:332) was in agreement with certain elements in the McKinsey 7-S Model (2013). He stated that due to the privileged position they have enjoyed, financial institutions have not traditionally been characterised by using tools that favoured customer loyalty. However, in recent years multiple actions were performed in order to make the relationship with customers profitable, rather than adding new customers: adding new customers is much more expensive than keeping existing ones. According to Johnstone (2015:331), the current situation in …show more content…
Action Research Model
Milpark Education (2015:11) provides an overview of the eight steps that need to be followed to implement the action research model. Milpark Education (2015:11) citing French and Bell (1995:138) describe Action Research as a process of systematically collecting research data about an ongoing system relative to some objective, goal or need of that system; feeding these data back into the system; taking actions by altering selected variables in the system based on the data and on hypotheses; and evaluating the results of actions by collecting more data following a series of steps (listed below):
i. Problem identification – This phase consists of finding needs for change in the organisation, identifying the appropriate decision maker and building a trust
i. structure ii. strategy iii. skills iv. staff members
v. style vi. systems vii. shared values
The key point of the model was that all seven areas were interconnected and a change in one area required change in the rest for a firm to function effectively. Johnstone (2015:332) was in agreement with certain elements in the McKinsey 7-S Model (2013). He stated that due to the privileged position they have enjoyed, financial institutions have not traditionally been characterised by using tools that favoured customer loyalty. However, in recent years multiple actions were performed in order to make the relationship with customers profitable, rather than adding new customers: adding new customers is much more expensive than keeping existing ones. According to Johnstone (2015:331), the current situation in …show more content…
Action Research Model
Milpark Education (2015:11) provides an overview of the eight steps that need to be followed to implement the action research model. Milpark Education (2015:11) citing French and Bell (1995:138) describe Action Research as a process of systematically collecting research data about an ongoing system relative to some objective, goal or need of that system; feeding these data back into the system; taking actions by altering selected variables in the system based on the data and on hypotheses; and evaluating the results of actions by collecting more data following a series of steps (listed below):
i. Problem identification – This phase consists of finding needs for change in the organisation, identifying the appropriate decision maker and building a trust