Sample content Managing Change Part 1 MGT/426 Managing Change Citigroup Incorporated (Citi) is a U.S. founded multinational banking and financial service company located in Manhattan, New York. Citigroup was established from the biggest mergers ever recorded when Citigroup Financial and Travelers Group as they joined their assets in the year 1998. Presently, Citigroup is regarded as one the biggest financial institution network in the globe; it has been operating in 160 countries with 16,000 offices around the globe. At present, there are 260,000 employees of Citigroup who provide financial assistance to an approximate of 200 million people. Citigroup is regarded as one of the major dealer in United States treasury securities and investments (Wikipedia, 2012). As of the year 2012, Citigroup can be made to be 200 years old by referring to its founding year of 1812. In 1812, Citigroup renamed itself to the National City Bank of New York right after its incorporation in the nati

1. MGT 426 Week 2 Managing Change Part 1
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Sample content
Managing Change Part 1
MGT/426
Managing Change

2. Citigroup Incorporated (Citi) is a U.S. founded multinational banking and financial
service company located in Manhattan, New York. Citigroup was established from
the biggest mergers ever recorded when Citigroup Financial and Travelers Group
as they joined their assets in the year 1998. Presently, Citigroup is regarded as one
the biggest financial institution network in the globe; it has been operating in 160
countries with 16,000 offices around the globe. At present, there are 260,000
employees of Citigroup who provide financial assistance to an approximate of 200
million people. Citigroup is regarded as one of the major dealer in United States
treasury securities and investments (Wikipedia, 2012).
As of the year 2012, Citigroup can be made to be 200 years old by referring to its
founding year of 1812. In 1812, Citigroup renamed itself to the National City Bank
of New York right after its incorporation in the national banking system. This effort
enabled them to be the biggest system in the United States. At present, Citigroup is
the product of the largest merger ever recorded in history, wherein Travel Group
had acquired Salomon Brothers and eventually combined with Citigroup.
The newly merged company, Citigroup is the joint properties, experience and
knowledge of the three primary banking system and investment groups. There
became an effort of bailout to the American government in order to remain
steadfast despite of financial crisis in 2008 (Citigroup, 2012).
Cycle of Change
The cycle of change pertains to the process of undergoing significant
transformation so that the organization can further change its ways of dealing with
business. These changes can come from a package that included technological
changes, industrial changes, and important innovation in the business arena.
Every lifecycle stage provides chances for an organization. There are four
identified stages present in the organizational life cycle. First is the entrepreneurial
stage, this pertains to the building and rebuilding of the organization. Second
pertains to the collectivity change, it is the creation of the techniques and purposes
of the organization. This stage requires consistency and guiding principles. This
stage requires the management to remain focused. This means that the
management should make an effort to enhance the abilities, skills, potentials and
teamwork of its working force. The stage following to the collectivity stage includes
process, policies and formal control system. The last stage is the elaboration stage
which is essential in revitalizing the business and arriving with concrete solutions
with the problems and gaps at hand. This article focused on the similarities and
differences between continuous and discontinuous changes in the organization’s

3. change implementation plus the two kinds of agents during change
implementation.
Continuous and Discontinuous
Ther
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