Employee perceptions towards organizational change and leadership in the banking industry

Technological changes that come with industrial revolution have largely affected businesses, as well as society. With the current technological shift and Fourth Industrial Revolution, many questions arise regarding the impacts and effects on current ways businesses operate. This study presents a retrospective analysis and overview of previous industrial revolutions. The aim of the retrospective analysis is to identify common characteristics that may lead to lessons learned for the forthcoming Fourth Industrial Revolution and thus complement the current debate on technological change. All previous industrial revolutions have led to change in business environments and new challenges for managers and owners. The findings show that all previous revolutions have led to increase in the number of service jobs created. The key approach of successful countries during the times of industrial revolution has included education as the source of new skills and knowledge necessary for adaption. Countries that were able to produce high skilled people could not only invent, but also adapt to new technologies sooner than others. Similarly, these approaches included introduction of new managerial practices in order to be able to utilize new technologies and new skilled workers effectively. The research article processes secondary data together with literature review on this topic.

Given the rapid and sustained growth of Aspen over the past decade, the main aim of this study is to identify and analyze the growth strategies, adopted by Aspen over the period from 2004 to 2014. The research method used was a descriptive study through a single case study of Aspen by analyzing secondary data in the form of publicly available company reports and presentations, as well as financial results, issued between 2004 and 2014. The study finds that, guided by strategic and visionary leadership, Aspen adopted a number of growth strategies including (i) organic growth, as a key factor in creating incremental value for Aspen and its stakeholders, (ii) inorganic growth, in the form of carefully planned and well executed acquisitions, aligned to the Group strategy, (iii) extending territorial coverage through global expansion, particularly into emerging pharmaceutical countries, and (iv) ongoing investment in production capabilities as a means of achieving a strategic advantage. Despite the challenges of intense competition, restrictive legislation, pressure on medicine prices, currency volatility and market specific risks, Aspen has delivered double-digit earnings growth to its shareholders for 16 consecutive years.

The public sector is facing multiple changes. In a constantly changing environment, that is more and more demanding in terms of innovation and performance, the concept of leadership is of particular importance, as it is one of the few tools available to public managers.
Based on the transformational leadership theory, the aim of this study is to explore how transformational leadership characteristics influence organizational change within the public sector in Lebanon. To serve this purpose, a qualitative approach is adopted based on a series of semi-focused interviews conducted with ten public managers running 10 public administrations. These administrations have undergone significant changes over the past five years.
The results point out the importance of transformational behaviors adopted by public managers in leading change within the public sector in Lebanon, despite the multiple obstacles. They confirmed the role of two transformational dimensions related to idealized influence and inspirational motivation in the successful implementation of organizational change. This study contributes to better understanding of the role of transformational leadership in promoting change in the public sector.