Dutch Journal of Finance and Management

Dutch Journal of Finance and Management, 2024 - Volume 7 Issue 2, Article No: 28668
https://doi.org/10.55267/djfm/15158

Published Online: 12 Sep 2024

Views: 384 | Downloads: 218

As banks engulfed in different crisis situations introduce a combination of bank crisis management strategies to move out of the crisis, it is not only the introduction of new technologies, processes, structures and skills which are required, but also the change of the organisational culture. Unfortunately, during a crisis, most of the banks often focus just on implementing the core crisis management strategies without integrating them with the critical processes for changing and transforming organisational culture to support changes that are being implemented. As this affects the successful implementation of change essential for the bank to recover from the crisis, this study uses systematic review to explore and extract new insights from the existing studies to discern how banks can approach such situations. From the systematic review, findings revealed that due to the distortion of the way activities are accomplished during the implementation of different bank crisis management strategies, employees may not easily accept new changes. These induce conflicts, frustrations and sabotage that affect the successful change implementation as well as the ability of the bank to transition out of the crisis. To therefore ensure the successful implementation of organisational change and transformation, organisational culture change must be integrated with behaviour change and transformation to change and modify attitudes, habits, practices and ways of doing things to support change implementation. Entrenchment of such a culture eliminates path dependencies to instill a sense of creativity and innovativeness in the ordinary employees to explore new ways of doing things, so as to influence successful implementation of change in the way that can influence the capabilities of the bank to recover from the crisis.

Organisational Culture Organisational Culture Change Organisational Culture Transformation Bank Crisis Management

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