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Wee, Kevin Thian Hock (2007) The Restructuring Process of the Singapore Tourism Board. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

Corporate Restructuring efforts, especially those involving fundamental change to an organisation are complex processes. Due to the high incidence of unsuccessful restructuring efforts in the 1980s and 1990s, many frameworks of best practices have been developed by academics and practitioners to help management increase their chances of achieving a successful change process. Key practices include maintaining open communication channels between management, HR and staff; involving employees in the change process at early stages of the restructuring effort; ensuring that the restructuring effort is a long-term strategic plan rather than a "quick-fix" to cut costs and treating survivors and "laid-off" staff with sensitivity and dignity.

The recent transformation exercise undertaken by STB in 2003 was reviewed based on a �������������������������������¢�����������¢�������������������¢�������¬�����������¢������������������������consolidated best practice framework�������������������������������¢�����������¢�������������������¢�������¬�����������¢������������������������ developed from the work of previous studies. This revealed that it is possible to mitigate some of the adverse effects if best practices are followed. However, it was shown that a successful change effort depends a lot on the credibility that management enjoys amongst its employees. This credibility is built when employees perceive a strong consistency between what management says and what it actually does. If management exhibits a divergence in words and deeds, employees will notice this and react negatively. This will affect staff morale and trust in management. One possible solution is to have junior managers embody the positive benefits of the new organisation in a consistent manner. This will go some way in bridging any credibility gaps.

Ultimately, employees are human beings - and the basic constructs of human relationships such as trust, credibility and consistency cannot be ignored.

Item Type:	Dissertation (University of Nottingham only)
Keywords:	Restructuring Change Management Best Practices
Depositing User:	EP, Services
Date Deposited:	07 Aug 2007
Last Modified:	15 May 2018 09:28
URI:	https://eprints.nottingham.ac.uk/id/eprint/20825

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