Change in Finance Industry
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- Date Submitted: 10/14/2013 05:41 PM
- Pages: 7
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* BA 472
* Change During Crisis
*
* Every company across industries has had to make changes in the past few years. In some industries the changes are substantial and some they are not, but change is the one constant in most cases. With the economy being so volatile and technology moving at such a fast pace, companies have to have leaders and employees that can adapt and collaborate to achieve continued growth and success. Making Sense of Change Management by Esther Cameron and Mike Green, goes into great detail on how these changes are implemented and the effects they have on employees. I have only been in the work force for six years and have worked for three different businesses in two completely different industries. The company that I think that has the best examples of change is the mortgage company that I worked for. With the financial crash in 2007-2008 and technology rapidly changing this company had many hurdles to jump in order to maintain and stay afloat, when many companies shut down.
* Company Background and Culture
* The mortgage company that I have three years experience working for is located in Eureka. This company was founded in 2005, and it started with just 2 employees, the founders and still current owners. They started up their company at the right time, when house prices were skyrocketing and credit was easily attained. Too easily attained as the next few years showed us very clearly. After the crisis at the end of 2007, things changed dramatically. Between when they started and then, they had gained another employee to process their loans. After the crash things were slow and new regulations were coming in on a daily basis. The entire way a loan was processed from start to finish was different. Some companies couldn’t handle the change and rather than work through the psychoanalytical stages (denial, anger, bargaining, depression, acceptance) they shut their doors entirely. The owners of the company I worked...
* Change During Crisis
*
* Every company across industries has had to make changes in the past few years. In some industries the changes are substantial and some they are not, but change is the one constant in most cases. With the economy being so volatile and technology moving at such a fast pace, companies have to have leaders and employees that can adapt and collaborate to achieve continued growth and success. Making Sense of Change Management by Esther Cameron and Mike Green, goes into great detail on how these changes are implemented and the effects they have on employees. I have only been in the work force for six years and have worked for three different businesses in two completely different industries. The company that I think that has the best examples of change is the mortgage company that I worked for. With the financial crash in 2007-2008 and technology rapidly changing this company had many hurdles to jump in order to maintain and stay afloat, when many companies shut down.
* Company Background and Culture
* The mortgage company that I have three years experience working for is located in Eureka. This company was founded in 2005, and it started with just 2 employees, the founders and still current owners. They started up their company at the right time, when house prices were skyrocketing and credit was easily attained. Too easily attained as the next few years showed us very clearly. After the crisis at the end of 2007, things changed dramatically. Between when they started and then, they had gained another employee to process their loans. After the crash things were slow and new regulations were coming in on a daily basis. The entire way a loan was processed from start to finish was different. Some companies couldn’t handle the change and rather than work through the psychoanalytical stages (denial, anger, bargaining, depression, acceptance) they shut their doors entirely. The owners of the company I worked...