Find an ASX listed Australian company of your choice. Listed Australian companies can be found on the website www.asx.com.au. You are required to download your chosen company’s latest annual report…..
Analyze and discuss the five key elements of successful change management.
Overcoming barriers to change: A Corus case study
Overview of the Case:
Corus was formed in 1999 when the former British Steel plc merged with the Dutch company, Hoogovens. Corus is now a subsidiary of the Indian-owned Tata Group. Corus has three operating divisions and employs 40,000 people worldwide. Corus Strip Products UK (CSP UK) is based at Port Talbot and Llanwern, Newport in South Wales. CSP UK makes steel in strip form. This is used in markets such as vehicle manufacture, construction, electrical appliances, tubes and packaging. Corus aims to be a leader in the steel industry by providing better products, higher quality customer service and better value for money than its rivals. In 2005 CSP UK introduced a cultural plan for change called 'The Journey'. The company wanted to address a wide range of business challenges, but the common theme was the fundamental way that people at all levels went about their work. The Journey focused on the values and beliefs of its people. Vitally, this was not limited to employees, but it included contractors, suppliers and other partners. This community of people together redefined eight core values. These provided the guiding principles by which Corus people would work. By early 2007, all employees had been provided with a booklet outlining the CSP Journey values and the behaviours the company expected them to follow. The new values encourage individuals to be accountable for their actions. For example, previously, there had been tragic accidents on site and other health and safety issues, such as poor driving behaviour. This needed to change. The Journey programme has taken a positive approach so that it now steers everything CSP UK does and underpins the culture of the organization.
1. Analyze and discuss the five key elements of successful change management.
2. Explore the processes of change associated with each element.
* please answer both questions + computer writing