Referencing Styles : Harvard Assessment 1 Part B – Risk Analysis You are the HR director at a large Australian bank with a bureaucratic authoritarian culture and a highly unionised workforce. In response to competitive pressures, the bank aims to become the fastest growing, most profitable bank in Australia. They are also looking at expanding their operations in Asia as part of their growth strategy. You realised that in order to bring the company to reach new heights, the bank needs to make changes to their organisational culture. 1. How are you going to introduce cultural change in the entire organisation? (5 marks) 2. What are the risks of introducing a cultural change in a bureaucratic authoritarian culture and a highly unionised workforce? For example, if the change will require retrenchment, what are the risks involve? What are the barriers to change? (5 marks) 3. Perform a risk assessment for all the risks you identify including your recommended mitigation strategies. Use risk analysis forms similar to the one you used in Session 4. (10 marks) Total part B: 20 marks Assessment 1 Part C – Case Study Scenario Change at Asia/Pacific Manufacturing (APM) The atmosphere in the boardroom was intense. Mon Ey, the financial director for APM just concluded his presentation on the current situation of the Australian manufacturing division of APM. The following conclusions were made based on the presentation: ƒƒ APM Australian factories not competitive ƒƒ Benchmarked against international best practice, production costs of the Australian manufacturing operations are the highest in the world ƒƒ The Australian factories have low productivity and high labour costs ƒƒ Must cut losses and expand elsewhere OR make the Australian operations more competitive ƒƒ At risks of being taken over by another major competitor. If this materialises, all Australian operations will be sold off and moved overseas ƒƒ Share price dropped 20 percent from the past six months In view of the current problems of APM, they decided to hire the services of STegic, a strategic consultancy firm to make sense of the problem and possibly come up with a recommendation as to the best possible course of action. The study conducted by STegic reveals the following issues: ƒƒ If the Australian factories could achieve 90 percent of best practice figures for productivity and labour costs, the Australian operations would be among the most profitable in the company