FC305 Essay’s Guidelines March Start cohort Deadline: Monday 15th of June 2020 by 09.00am First Draft Deadline: Monday 11th of May 2020 by 09.00am 1000 words (+/- 10% – i.e. 900-1100) Read all instructions very carefully 1. Your assignment needs to be submitted via VLE Turnitin App on the date given above. Submit both versions in their respective Turnitin portals. 2. You should observe the word count stated on the assignment brief. A 10% margin is allowed above or below the limit.  You will lose marks if this is not followed. 3. Penalties apply for late submissions. 4. If you failed to submit on time due to an Exceptional Extenuating Circumstance (EEC), you should submit an EEC form within three days of the assessment deadline. These are available from Student Service and may, depending on your circumstances, affect your final mark. Choose ONE of the UN Global Issues from the selection available on your VLE (and as instructed in a separate email) and discuss it critically. Marking criteria  Total Mark for each criterion Content and Understanding30% · Relevance · Appropriate detail · Depth of knowledge (evidence of understanding of the topic) · Evidence of research Critical Thinking20% · Understanding of the debates relating to the topic · Evidence of original thought · Analysis · Construction of a coherent argument Structure20% · Logical and coherent structure · Clear introduction and conclusion · Overall presentation Citation of authority and Bibliography20% · Accurate referencing · Variety of sources (at least 5 academic references) · In text References Overall style10% · Overall style ranging from impressive to confusing, inaccurate, or poor Academic Referencing  A good place to start is with academic sources, also called scholarly sources. These sources can include books, academic journal articles, and published expert reports. Whatever the exact form, academic sources all have in common the fact that they are peer-reviewed. Peer reviewed sources are written by an expert in the field and have passed review by other experts who judged the source for quality and accuracy. If a source is peer-reviewed, you know it is a good choice for high-quality, accurate information about your topic. Not all sources show whether they are scholarly relevant or peer-reviewed, but there are some clues you should check. · Look at the author's credentials. They should have an advanced degree and/or an affiliation with a scholarly organization like a university or a science foundation. · Look as well for a list of references or a bibliography. Most high-quality research is based on other research, so a good source will have a list of works the author studied as he or she was writing it. Check this list to make sure. · Finally, you can tell a lot about a source by looking at the publisher who publishes it. Scholarly sources should be published by a professional association like the American Medical Association; by a university, for example the Oxford Unive.

1. FC305 Essay’s Guidelines March Start cohort
Deadline: Monday 15th of June 2020 by 09.00am
First Draft Deadline: Monday 11th of May 2020 by 09.00am
1000 words (+/- 10% – i.e. 900-1100)
Read all instructions very carefully
1. Your assignment needs to be submitted via VLE Turnitin App
on the date given above. Submit both versions in their
respective Turnitin portals.
2. You should observe the word count stated on the assignment
brief. A 10% margin is allowed above or below the limit. You
will lose marks if this is not followed.
3. Penalties apply for late submissions.
4. If you failed to submit on time due to an Exceptional
Extenuating Circumstance (EEC), you should submit an EEC
form within three days of the assessment deadline. These are
available from Student Service and may, depending on your
circumstances, affect your final mark.
Choose ONE of the UN Global Issues from the selection
available on your VLE (and as instructed in a separate email)
and discuss it critically.
Marking criteria
Total Mark for each criterion
Content and Understanding30%
· Relevance
· Appropriate detail
· Depth of knowledge (evidence of understanding of the topic)
· Evidence of research
Critical Thinking20%
· Understanding of the debates relating to the topic

2. · Evidence of original thought
· Analysis
· Construction of a coherent argument
Structure20%
· Logical and coherent structure
· Clear introduction and conclusion
· Overall presentation
Citation of authority and Bibliography20%
· Accurate referencing
· Variety of sources (at least 5 academic references)
· In text References
Overall style10%
· Overall style ranging from impressive to confusing,
inaccurate, or poor
Academic Referencing
A good place to start is with academic sources, also called
scholarly sources. These sources can include books, academic
journal articles, and published expert reports. Whatever the
exact form, academic sources all have in common the fact that
they are peer-reviewed. Peer reviewed sources are written by an
expert in the field and have passed review by other experts who
judged the source for quality and accuracy. If a source is peer-
reviewed, you know it is a good choice for high-quality,
accurate information about your topic.
Not all sources show whether they are scholarly relevant or
peer-reviewed, but there are some clues you should check.
· Look at the author's credentials. They should have an
advanced degree and/or an affiliation with a scholarly
organization like a university or a science foundation.
· Look as well for a list of references or a bibliography. Most
high-quality research is based on other research, so a good
source will have a list of works the author studied as he or she
was writing it. Check this list to make sure.
· Finally, you can tell a lot about a source by looking at
the publisher who publishes it. Scholarly sources should be

3. published by a professional association like the American
Medical Association; by a university, for example the Oxford
University Press; or by a recognized academic publisher. These
publishers will all peer-review the books that they publish. Ask
your teacher if you're not sure about whether a publisher is a
recognized academic one. If the publisher is a university press
or a professional organization, you've got a scholarly source!
1. Scholarly sources should be peer reviewed
1. They should include a list of references
1. They should be written by an expert author
1. They should be published by a reputable publisher
Wikipedia is not considered an academic source!
Academic Misconduct
Plagiarism includes (but is not limited to) the incorporation of
material derived from the work (published or unpublished) of
another author by unacknowledged quotation, paraphrase,
imitation or other device in any work submitted in a way which
suggests that it is the student's original work. Such work may
include printed material in textbooks and journals and material
accessible electronically, for example on web pages. Examples
include (but are not limited to):
· The inclusion in a candidate's work of more than a single
phrase from another person's work without the use of quotation
marks and acknowledgement of the sources;
· The summarizing of another person's work by simply changing
words or altering the order of presentation, without
acknowledgements;
· Copying the work of another candidate, with or without that
candidate's knowledge or agreement. If copied with the
agreement of the other candidate both parties are guilty of
misconduct.
Examples of collusion are (but are not limited to) a situation
where a student:
Intentionally submits as entirely his or her own, work done in

4. collaboration with, or commissioned from, another person or
persons, whether for reward or not;
Knowingly collaborates with another candidate or candidates in
the completion of work which is submitted as that/those other
candidate's/candidates' own unaided work;
Permits another candidate to copy all or part of their own work,
knowing it is to be submitted as that other candidate's own
unaided work;
Proof-reading where this results in large sections of the
students’ work being re-written by someone else.
In the cases of plagiarism and collusion, serious academic
penalties (up to a deduction of 100% of the final mark awarded)
are applied.
How to avoid plagiarism
When using sources in your papers, you can avoid plagiarism by
knowing what must be documented
· If you use an author's specific word or words, you must place
those words within quotation marks,andyou must credit the
source. (In-text citation + page)
· Even if you use your own words, if you obtained the
information or ideas you are presenting from a source, you must
document the source. (In-text citation)
You do not need to cite a source for material considered
common knowledge:
· General common knowledge is factual information considered
to be in the public domain, such as birth and death dates of
well-known figures, and generally accepted dates of military,
political, literary, and other historical events. In general, factual
information contained in multiple standard reference works can
usually be considered to be in the public domain.
If in doubt, be cautious and cite the source. And in the case
of general common knowledge, if you use the exact words of the
reference source, you must use quotation marks and credit the
source.

5. | Kaplan International Pathways
| 1
| kaplanpathways.com
| Kaplan International Pathways
| 2
| kaplanpathways.com
Running head: ENVIRONMENTAL SCANNING AND
ANALYSIS 2
ENVIRONMENTAL SCANNING AND ANALYSIS
2
Environmental Scanning and Analysis

6. P. Suresh Kumar
(1712000)
University Canada West
Professor: Dr. Pauric P. O’Rourke
Date: 24-05-2020
Environmental Scanning and analysis
Introduction
Hatch (2019), defines environmental scanning as the gathering
of internal and external information related to an organization
that can be used to critically monitor the status of the internal
condition of an organization and the external condition of the
same. Internal environment includes the structures set withing
and organization, its employees, its culture, and way of
operations. The external environment includes the macro-
environment of the organization, other industry players that are
immediate to the organization and natural environment.
Environmental scanning entails utilization and possession of
information related to patterns, occasions, relationship, and
trends withing the internal and external environment of and
organization (Sarsby, 2016). Pestel analysis is commonly used
to scan the macro-economic aspect of an organization which is
also the external environment, while SWOT analysis is used
measure the firm-level and Core competencies analysis is used
to measure the internal environment of an organization .
Environmental Analysis is a strategic tool utilized by strategic
managers to assess the position of an organization. The analysis
is translated and used making corporate decision and laying out
of strategic plans. Today’s market is extremely competitive and
what worked for an organization previously may not always be

7. effective. This creates a need for strategic managers to adopted
analysis mechanism whose information obtained is used to
making organizational decision, which are geared in positing
the organization better in the market and industry (Borges,
2018). Pestel analysis expanded means political, economic,
social, technological, legal, and environmental factors that
affect and organization. SWOT analysis expanded means the
strength, weakness, opportunities, and threats that an
organization contains or that characterize and organization.
Core competencies analysis measures and organizations
systems, structure, resources, and policies. Strategy formulation
calls for thorough environmental and scanning to identify
opportunities and threats facing and organization both internally
and externally.
Goals and purpose on environmental scanning and analysis
The main of this process is to provide information that would
help the organization identify its threats and opportunities
withing the organization and outside the organization. It helps
decision makers plan and develop strategies that are practical
and applicable in and organization. Abu Amuna (2017), states
that it also helps an organization channels the right resources
and time towards efforts necessary in the business and eliminate
resources that have become obsolete and no longer working for
the business. For a business to survive and grow it needs to be
aware of what is happening around it whether internally or
externally so that it can stay abreast of the changes. In setting
up of long terms and strategies this process plays a crucial role
since its puts everything in place without necessarily
identifying whether its working or not. When everything is put
into perspective then all the decision makers are in apposition
to pick and drop ideas and concepts in the relation to the
specified organization and not applying concepts that worked
for other organization. Strategies and goals set are customized
to work for the organization under analysis.
Environmental scanning and analysis in indiscriminative and cut
across all the structures and systems that govern an

8. organization, from the senior management, to the employees, to
the customers, competitors, and rivals. There is no better way to
influence change or make decisions related to an organization
without the influence of these processes. Additionally, is helps
and organization have and inventory of its resources, its
strengths, opportunities, weaknesses, and threats (Hatch, 2019).
The organization can optimize its operations, resources,
policies, and structures should they choose to utilize findings of
the analysis. Cost-cutting decisions, change of culture, merging
and acquisition of organizations is also done with the help of an
analysis, it would therefore be accurate to state that it also
influences investors decision.
Company Background
Old Mutual is a pan-Africa financial institution that offers
financials services related to investment, insurance, savings,
and banking. The company was formed in 1845 as an insurance
company in Cape Town by John Fairbairn. John Fiarbairn
together with a team of one hundred and sixty six members
formed the first mutual aid society in South Africa and named it
Mutual Life Assurance from which the capital was borne out
from the one sixty six members (Giamporcaro, 2018) . The
company took an uphill growth dominating the market and
became one of the leading financial institution in the country.
In 1885, the company changed its name to South Africa Mutual
Assurance so that is would own its origin and its market.
Giamporcaro (2018), states that the company dominated the
South African market capturing a third of the financial and
insurance market leaving two thirds to other markets. The
objectives of the company are to grow customers into achieving
lifelong financial goals by investing them in ways that create an
affirmative future for them, their community and society. The
company has approximately thirty thousand employees
operating in fourteen countries in Africa and Asia. Today is on
internalization journey with its operation functioning all over
Africa and a branch in China, and Latin America.
This did not just happen overnight as Old Mutual has a history

9. of acquiring other financial institutions in an effort to venture
new markets or capture a wider market in the process. In 1999
the company demutualized and moved its head office in London.
The constant mergers and acquisition that Old Mutual made the
company have so much going on from asset management,
insurance, investments, and banking. In 2004, the company
gained full control of publicly listed South African Insurance
Subsidiary Mutual and Federal. In 2016 the company opted to
separate its operations so as to create more value and unlock
shareholders to a wider portfolio. The separation dived the
businesses of the company into four namely US asset manager,
African Business, British wealth manager and Nedbank. In
terms of the company as an insurer it was further divided in
four, Old Mutual Emerging Markets, Old Mutual Wealth,
Nedbank, and Old Mutual Asset Management.
The managing director of Old Mutual Personal Finance Karabo
Morule, in June 2018 showed concern of how the company
would be able to retain its culture of shared values while
strengthening and modernizing its customers, even after all the
merging and acquisitions that had taken place over the years. It
is important to note the core values of the organization as
integrity, accountability and respect, the values Karabo Morule
believed were a summary of the company’s culture. One of the
processes that would help boost or prompt an effective culture
change would be the environmental scanning and analysis since
it is able to put everything in perspective. The change would be
more practical to the employees, management, customers,
suppliers, and all other stakeholders which in return would
improve service delivery, performance, and competitiveness.
Internal Analysis
The core competency analysis is used to analyze the internal
structures, policies, systems resources with an organization. In
Old Mutual limited is structured in a manner that segments
every service independently to promote the type of service
deliverer offered to its customers. It also helps the company
manage its operations independently this is through the four

10. decisions namely African business, whose role and service
delivery are focused or channeled to the African market and
needs. The US asset manager is designed for the US market with
its products and services specifically designed for the market.
British wealth manager is also designed for the same and so is
the Nedbank in Nigeria.
Old mutual is very resourceful in terms of how its products are
designed since most of the products and service offered are
specifically designed for a specific market. This means a
product designed for Africa may not work in British and is the
product in America. While one may wonder how this is
possible, OM (Old Mutual) believes in collaborations and
mergers and in most of its success has been attributed top the
mergers made in most of these countries. In the merging process
the company does not seek to control the market entered but
uses the present team to understand the market and push its
products in the process. The products and services of the
company are also designed in a manner that considers the well
being of the customers since one of the main objectives of the
company is to grow and individual as it grows the community
and society at large. The company, operating income is
estimated to be R9,963 million with a revenue of R109,877
million. The company as at 2018 accounts for thirty-one
thousand employees. This shows that the company has the
capacity to achieve.
The purpose of the company is to cause its customers to thrive
through savings and protection, lending, investment, and
insurance. It is a one stop shop for all individual financial
needs. The company also believe positive results are born out of
good governance and have designed their leaders through ‘ACT
NOW’ policy to yield success both to the company and to its
customers. The company believes that the company success is
born out of leaders, employees, and customers. Its values
define the company’s culture which guide and inspires their
interactions with each other and its stakeholders. Its values
include, customers, the company believes in championing its

11. customers, diversity and inclusion, innovation that makes a
difference, acting in integrity, respecting communities, and
serving each other, and trust and accountability.
Old Mutual is committed to sound governance and principles
applying substantial levels of ethical standards in their business
operations. The directors accept complete responsibility for the
application of all the company’s values, policies, and corporate
governance, ensuring that they are practiced throughout the
company. The board represents and safeguards the interests of
all stakeholders ensuring that the nature of business in practice
is sustainable and is achieved by the group. The board is also
responsible for compliance checks of statutory obligations
specified by the companies memorandum of incorporation,
Johannesburg stock exchange listings, the companies act, the
Malawi stock exchange listings, the UK listing authority rules,
Namibian stock exchange listings, Zimbabwe stock exchange
and other regulatory requirements. The directors also have a
king code which ensures that the responsibilities and principles
are executed both in spirit and letters. The company governance
also focuses on the company’s customers build to maintain their
retention, culture to ensure that they are able to retain behavior,
talent and business, and board refreshment that maintains a
refreshed group with diverse knowledge and skills.
External Analysis
To analyses the company the analysis concept to be adopted is
the PESTLE analysis models which will analyze the political,
social, economic, technologic, environmental, and legal
environment of the company. To start with is the political
environment. The company is greatly dominated in Africa,
which is faced with a lot in political instability mostly when
their electioneering period arrives. Most of these countries like
Nigeria, Zimbabwe and Sudan are faced with long periods
political conflicts which greatly affect the economical functions
that keep the country moving. When this happens companies
such as Old Mutual are forced to close their operations as they
wait for the political heat to cool down. In the process the

12. reruns for investments are affected and the ability of its
customers to invest and utilize their services is affected.
Due to the political instability in most of these African
countries, the African market is also characterized by unstable
trends which have an economic effect to almost all the
industries within those countries. Being an investment company
when the rates of inflation are high in these companies, the
people propensity to save is affected which means that they can
no longer utilize the company’s products and services which in
the long run affects investors returns and the company
profitability. The average GDP growth projections in most of
the countries where Old Mutual operates are relatively low in
most African countries meaning that though the company may
still be making profits, it doesn’t always reach the targets in
some or even all of its operating offices in Africa. Additionally,
the globe today is faced by unpredictable economic trends
which makes it quite difficult for the company to make long
term decisions regarding its products and services and
expansion plans.
Africa being a third world country is still in the process of
developing which creates a huge gap between the poor and the
rich. There is a great social distinction between those who can
afford their products and those who have no idea of the kind of
products and services that the company offers, let alone the
name of the company. Some of the social set-ups believe that
‘Old Mutual is a company for the rich’, which is not always the
case. The company is also faced with the challenge of digital
adoption which affects its socialization ability to the masses
who believe that everything they need is found online. The
company has also not been able to sell some of its products like
the insurance motor due to its inability to connect or interact in
a way that the people understands or appreciates the product.
The company is yet to fully adopt the BFSI (Banking, financial
services, and Insurance) technology which puts the company at
a disadvantage with companies that have fully complied to the
technology. With the challenge of integrating information

13. technology enabled services (ITES) the company is yet utilize
technology in building its customer base and product reach.
This may be the case to due to poor infrastructures in the
companies that they operate in and the adoption of the such
services to the customers. Most African customers believe in
the importance of physical contact with service providers and
therefore the company choses to invest more what values their
customers consider in their product and service delivery.
Automation and artificial intelligence has overtaken on of the
BFSI industry in most developed countries and most of these
key players have adopted such technologies, how ever they have
not been fully received by the customers and clients in most of
the African countries but in China and Latin America there
seem to be a few improvements.
In terms of regulations and compliance, Old Mutual is very
compliant with the regulatory frame works on most of the legal
proceedings with most of its operating countries. It believes in
the power of compliance and governance. Before any entry in a
country and market the company ensures that is meets the
thresholds of the central banks of the assigned countries. It
would therefore be accurate to say that Old Mutual is not faced
by a lot of legal and compliance scandals. In terms of
competitors, customers, and service delivery, it has ensured to
maintain integrity and honest to ensure and it never has to face
the lawsuits and other legal related legal procedures. This
through having strong board of directors, corporate governance
and core values which built up the culture of the organization.
Old Mutual environment is characterized by very many financial
institutions, insurance companies, mutual funds investment
companies and asset management companies. All these remain
to be the company’s greatest threat in the financial market.
Being found in many countries its competitors varies since their
competitor may be local, regional, and international. However,
the company has been able to do a lot of mergers and
acquisition of local financial institutions which in once way
help the company in customer acquisition and distribution of

14. their products and services. An example is the UAP Old Mutual
Group in Kenya which acquired both a financial institution by
the name Faulu Micro-Finance and insurance company by the
name UAP Insurance. By acquiring this the company was able
to gain access to their customers and clients and make products
and service that can be utilized through the two mergers (Ajowi,
2019).
SWOT Analysis
The strengths of the Old Mutual company include its diverse
portfolio of products and services which makes the company
able to make profits through different channels. The company is
also a market leader in terms of provision of insurance services
in most of its operating countries. The company has track record
of acquisition which as mentioned earlier helps it position itself
well to competitors since in the process of acquisition they not
only acquire a company but also some of its customers through
tailor making product and services to be utilized by the merging
companies. This is a long-term competitive advantage which
most competitors feel threatened ed by. The company’s culture
of championing customers and customer inclusion promotes the
kind of value for service that they offer to their customers
which promotes customer loyalty and retention. Despite having
many competitors around, the company’s value for customers
keep the customers hooked.
The company however is face with the weakness of a
concentrated business model, in the sense that the company
portfolio is saturated in a manner that makes the company have
so much to handle. This is a risk in the sense of research and
development unlike most companies which only focus on maybe
insurance and banking only. When a company focus in
providing one type of product or service, they can make
innovations and improvements to such based-on customer
reviews, preferences and recommendation. In Old Mutual case
they constantly must handle all manner of comments and review
innovations and recommendation which poses them with the risk
of focusing of one product and neglecting the other.

15. Additionally, in the recent past Old Mutual was faced with the
challenge of no confidence with the CEO Peter Moyo and the
company’s board. In response to this Iain Williamson was
selected as the acting CEO.
The company is yet to take advantage digital platforms and
technology mostly in the financial sector, this possess as an
opportunity for the company to take its product and service
delivery to the next level. Though the company is found in
several countries in Africa there is still untapped markets in the
Sub-Saharan Africa which the company could as well take
advantage of using the concept of merging and acquisition for
market entry. Through technology the company could design
online marketing strategies which will utilize social media and
other online platforms to promote its product. This so because
today everything is online, if it able to take advantage of that
then is would cut of its operations costs and increase its market
niche.
Despite having such opportunities, the company needs to
quicken its move since they are not the only players in the
market as the market is also characterized by local and
multinational players such as Absa and the standard group who
are slowly but consistently diversifying their portfolio to not
only offers banking services but also asset management services
and even insurance. In Africa traditional financial service
providers such as Saccos and church owned financial
institutions are being utilized by some of the people despite the
risks that surround them. This is because they are easily
accessible and reachable unlike the Old Mutual branches which
are mostly located in towns and large metropolitans.
Discussion and Conclusion
The information obtained above is like a medical diagnosis done
to a patient who in the case the Old Mutual Company. The
environmental scanning and analysis have identified what is
working for the company, what is not and what can be done.
The management mostly the board is at this point able to make
timely and accurate decision concern the future plans of the

16. company (Chatterjee, 2017). Moreover, the company is also
able to identify the changes and the improvement they need to
make. One of biggest external threat that the company faces in
political instability in most of the African countries which not
only affects the company politically bust also socially since the
company to protects the interests of its stake holders is forced
to open its offices in places that are secure and shielded so that
when a pollical war occurs the company is able to protect its
resources and only have to keep up with economical losses. This
has affected the company’s ability to reach to social aspects of
people whole live in the interior or reserve part of the country
creating a threat to its customer reach and creating a gaps which
traditional financial organizations take advantage of. This may
deny the company the chance to ever serve such customers since
it also needs to protect its investment. This however may
change should the company chose to utilize technology and
digital platforms to reach such people. They could use
technology to create products and platforms that are quick and
easy to understand that such a market can use in serving their
financial needs.
In conclusion such an analysis sheds light to the company in
what they can do different and how they can beat their
competitors. Old Mutual is not faced by with internal weakness
in terms of polices, systems and structure but it is faced by
external challenges which could be resolved by adopting
technology and increasing their operation in much stable Sub-
Saharan countries. It would also capitalize on tits strength of
acquisition and product diversification venturing new markets
and increasing their niche. To ensure that their portfolio is not
exposed they should also focus on product research and
development to ensure that what they offered is updated and
relevant to its market.

17. References
Ajowi, B, & Reuben, J (2019). Technological, organizational,
and environmental factors on the adoption of cloud computing
in insurance industries in Kenya: A case study of UAP-OLD
Mutual, Nairobi, Kenya. The Strategic Journal of Business &
Chenge Management
Abu Amuna, Y. M, Al Shobaki, M. J, & Abu-Naser, S. S (2017).
Strategic Environmental Scanning: An Approach for Crisis
Management.
Borges, N. M & Janissek-Muniz, R (2018). Informal and
Individual Practices of the Environmental Scanning in
Organizations. In Handbook of Research on Strategic
Innovation Management for Improved Competitive Advantage
Chatterjee, S. (2017). Industry-led change. In Sustainable
Investing (Vol,277, No.292)
Governance Overview
https://www.oldmutual.com/about/governace-overviews
Retrieved 21/05/2020
Giamporcaro, S, & Leslie, D (2018). Responsible investment at
Old Mutual: a case of institutional entrepreneurship. Emerald
Emerging Markets Case Studies.
Hatch, M. J (2019). Organization Theory: Modern, Symbolic,
and Postmodern Perspectives. South Asian Journal of

18. Management
Old Mutual About Us http://www.oldmutual.co.za/about-
us/company-history Retrieved 21/05/2020
Our Values https://www.oldmutual.com/about/our-values
Retrieved 21/05/2020
SWOT & PESTLE.com (2020). Old Mutual SWOT & PESTLE
Analysis- SWOT & PESTLE.com
https://www.swotandpestle.com/old-mutual/ Retrieved on
21/05/2020
Sarsby, A (2016). SWOT Analysis.Lulu.com
Appendices
APPENDIX 1: Introduction
APPENDIX 2: Company Background
APPENDIX 3: Internal Analysis
APPENDIX 4: External Analysis
APPENDIX 5: SWOT Analysis
APPENDIX 6: Discussion and Conclusion
9B20C016
OLD MUTUAL LIMITED: LEADING CULTURE CHANGE

19. Michelle Govender wrote this case under the supervision of
Professor Caren Scheepers solely to provide material for class
discussion.
The authors do not intend to illustrate either effective or
ineffective handling of a managerial situation. The authors may
h ave disguised
certain names and other identifying information to protect
confidentiality.
This publication may not be transmitted, photocopied, digitized,
or otherwise reproduced in any form or by any means without
the
permission of the copyright holder. Reproduction of this
material is not covered under authorization by any reproduction
righ ts
organization. To order copies or request permission to
reproduce materials, contact Ivey Publishing, Ivey Business
School, Western
University, London, Ontario, Canada, N6G 0N1; (t)
519.661.3208; (e) [email protected]; www.iveycases.com. Our
goal is to publish
materials of the highest quality; submit any errata to
[email protected] i1v2e5y5pubs
Copyright © 2020, Ivey Business School Foundation Version:
2020-03-30
Karabo Morule, managing director of Old Mutual Limited (Old
Mutual) Personal Finance, gazed out from

20. Old Mutual’s
1
iconic new headquarters at the skyline of Sandton, South
Africa, the morning of June 26,
2018. Morule was considering the dilemma of how to retain the
heritage of a culture based on shared values
while modernizing and strengthening it to express a new
customer-led approach with a focal point of Africa.
The company’s new 12-storey building, representative of Old
Mutual’s strong position in Africa, was a
striking addition to the Sandton skyline. South African
President Cyril Ramaphosa had officially opened
the building the day before. The date of June 26 represented the
day Old Mutual celebrated the head office’s
return home to South Africa.
As Morule listened to the celebratory sound of vuvuzelas
2
below, she reflected on how the change in structure
at Old Mutual had compelled a change in culture in order for
the organization to remain sustainable and
competitive. Morule believed that the organization’s values
defined the culture of the business: The core
values of respect, integrity, and accountability had been an
integral part of Old Mutual’s long history.
Following the announcement of the company’s strategy to have
a secondary listing on the London Stock

21. Exchange, Morule knew that the business she ran had to change
on a fundamental level in order to achieve
sustainable growth⎯ and a change in values and culture would
be crucial to this. To develop the type of work
culture she wanted, Morule knew she had to establish additional
core values and keep them relevant.
Morule considered how she, as a leader on a path of
transformation, had responded to market conditions and
played her part in creating an environment conducive to change
for employees on their cultural journey of
Anchoring in Africa,
3
which was a shift from the founding culture of the organization
(see Exhibit 1). The
previous culture at Old Mutual had been, at best, merely a
theme mentioned on the organization’s website, or
1 Old Mutual Limited was a financial services provider that
offered financial solutions to individuals, small and medium -
sized
businesses, corporations, and institutions across several market
segments and geographies in South Africa and the rest of
Africa; “W ho W e Are,” Old Mutual, accessed March 4, 2020,
www.oldmutual.com/about/who-we-are.
2 A simple plastic noisemaker in the form of a straight trumpet,
usually between two and three feet long, that produced a singl e
note and was used primarily at sporting events; Merriam-
Webster online, s.v. “vuvuzela,” accessed October 31, 2019,
www.merriam-webster.com/dictionary/vuvuzela.
3 “Anchoring in Africa” was the term used within Old Mutual

22. and by the media to describe Old Mutual plc’s creation of a new
South
African holding company, Old Mutual Limited, with a primary
listing on the Johannesburg Stock Exchange on June 26, 2018.
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Page 2 9B20C016
perhaps an imaginative photograph or statement on the wall of
the company’s reception area. Culture was
only occasionally, if at all, estimated or characterized through
employee behaviour. Currently, the
organization used practices to precisely gauge, deliberately
adjust, and proactively improve culture.
Morule was preparing to address key stakeholders at a
Provincial Management Board (PMB) meeting,
4
where

27. she would generate support for the ongoing effort that would be
required for cultural change on the path ahead
and speak about the importance of the active participation of
employee representatives on this path. These
representatives would be part of every phase of the cultural
change so that they could both contribute to and take
ownership of creating a road map for developing an ideal,
robust culture. The purpose of the meeting was to
establish objectives, set goals, and define roles in the culture
change management process. Rosie Wilson,
chairperson of Gauteng PMB, later commented on Morule’s
contribution to the meeting: “Communication was
clear to all staff. It was open from top to bottom. In other
words, that [Morule’s approach] opened
communication, everybody participated, and everybody felt that
‘I am part of this.’ And it was not management
taking this and dragging us behind them, we were part of it.”
5
Wilson was referring to the strategy Morule had
adopted for providing clarity around the organizational change
and in giving individual employees a context for
how their work fit into the big picture. The key principle in
Morule’s strategy was including many voices instead
of using a top-down mandate, where leadership forced change
on employees.

28. KARABO MORULE’S BACKGROUND
Morule had grown up in Diepkloof,
6
Soweto, with a story many Black South Africans could tell. Her
parents
were both professionals who believed in the value of a good
education, and because they had the resources,
they had sent their daughter to a private school. Growing up in
Diepkloof and going to school in the northern
suburbs of Johannesburg meant that Morule had to straddle two
worlds. She believed that helped her in
navigating the corporate world, as she had learned how to
balance her culture and who she was with the needs
of a business. Culture impacted organizations in areas such as
the pace of business, communication, and risk-
taking. The people she had spent time with, including school
peers, colleagues, family, and friends, had all
helped Morule gain insight into how she interacted and
connected with people, as well as how she expected
others to behave in certain environments. She had learned that a
good company culture was built on not only
shared values but also shared trust. As a workplace leader, she
understood that she played a powerful role in
creating and guiding company culture.

29. Morule began her career at the Johannesburg branch of the
global investment bank J.P. Morgan and had spent
over three years at J.P. Morgan’s London office working on the
Insurance Securitized Products team. Morule’s
work in London helped her gain a global perspective by
expanding her diverse knowledge base as she
encountered new and insightful approaches to business
problems through her interaction with multinational
and cross-cultural teams. Recognizing and understanding that
culture affected international business, Morule
realized that while many African businesses shared underlying
similarities, when contrasted with Western
businesses, a wide cultural difference was evident.
7
Morule knew that Africa was rich in cultural diversity,
and the context of African culture and values influenced how
business was done on the continent. A typical
example of the cultural gap between Western and African
businesses was the approach to written
4 Provincial Management Boards (known as PMBs) played a
key role in the provinces by forming strategic relationships with
provincial stakeholders in the public and private sectors, civil
society, labour groups, communities, and professional
associations. The PMBs represented the microcosm of the
broader business to customers and were made up of leaders from
across the Old Mutual business.
5 Rosie W ilson, in an interview with the author, September 19,

30. 2019, in Sandton, South Africa.
6 Diepkloof was a large township in Soweto, South Africa,
established through apartheid legislation for Black occupation
to
accommodate the removal of Black people from Alexandra.
7 Navin Ravindran, “The Role of Culture in Doing Business in
Africa,” AfricaBusiness.com, June 23, 2016, accessed October
30, 2019, http://africabusiness.com/2016/06/23/the-role-of-
culture-in-doing-business-in-africa/.
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Page 3 9B20C016
correspondence, which in Western culture was characterized by
a minimal greeting with an accentuation on
rules and deadlines. This was not acceptable in African
business; instead, African culture emphasized polite
greetings and enquiries about the individual’s well-being and
family before attending to the business at hand.
In Africa, a common ground for business relationships was

35. trust.
Morule joined Old Mutual in 2010, and she held several
management positions before being appointed as
managing director of Old Mutual Personal Finance in January
2016, at age 33. Personal Finance was one
of the group’s largest business segments, with a staff
complement of 5,000 people servicing the needs of
almost 2 million customers.
Morule was only the second Black female actuary to achieve an
actuarial qualification in South Africa, which
she did at the age of 24. She was also the first Black woman to
lead the Old Mutual Personal Finance division
and the first Black female actuary to serve on Old Mutual’s
executive committee. Building on this, in 2018,
Morule became one of only two South Africans to be invited by
the World Economic Forum to its community
of Young Global Leaders. Further recognition came from the
Association of South African Black Actuarial
Professionals when she was given the Inkanyezi Award for her
valuable contributions to the actuarial
profession during 2018. Morule was an accomplished leader in
not just her role in the corporate environment
but also as a Black female pushing boundaries.

36. Khanyi Chaba, head of Responsible Business, described Morule
as “one of those leaders that I see as focused
on delivering . . . but also, she comes across as believing in
people that she works with, so she’s a driver, she
delivers, and in terms of the specific subject matter on
responsible business, she’s one of those key leaders
who really are driving responsible business.”
8
MANAGED SEPARATION
Old Mutual was established in Cape Town, South Africa, in
1845, and it quickly became a trusted and
recognized brand across the country. After many years, the
business decided to expand internationally,
resulting in demutualization
9
and a listing on the London Stock Exchange in 1999. The
reasons for
demutualizing included the benefits that policyholders would
receive from free shares, for Old Mutual to
expand into a broader and more international financial services
company, for Old Mutual to be able to more
easily raise money for expansion, and to enable a more flexible
business structure.

37. In March 2016, the group’s leadership decided that the best way
forward was to separate its business into
independent, stand-alone companies. A “managed separation” or
breakup strategy decision was announced that
month based on a full strategic review of the business. The Old
Mutual Group consisted of four parts: a US asset
manager, a British wealth manager, an African business, and
Nedbank (of which Old Mutual Group owned 54
per cent). The insurer was splitting its four financial services
businesses—Old Mutual Emerging Markets
(OMEM), Nedbank, Old Mutual Wealth, and Old Mutual Asset
Management—into autonomous entities.
The decision to split was a result of the limited synergies
between the four businesses; additionally, their
geographical distribution meant that the different and changing
regulatory landscapes in Europe and Africa
added cost, complexity, and constraints to the business as a
whole. In other words, Old Mutual’s structure was
preventing the efficient funding of future growth plans in
Africa. Accordingly, it embarked on a breakup strategy.
8 Khanyi Chaba, in an interview with the author, September 26,
2019, in Sandton, South Africa.
9 Demutualization was the change from an organization owned
by policyholders to a listed company owned by shareholders.

38. See “Demutualization,” Investopedia, accessed March 27, 2020,
www.investopedia.com/terms/d/demutualization.asp.
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Page 4 9B20C016
The old business model implied that the Old Mutual head office
was central to the group of companies and
that the companies were all linked. On the other hand, in the
new business model, only two of the entities
were linked, namely, OMEM and Nedbank. The first stage of
the breakup strategy was selling off a majority
holding in Old Mutual Asset Management in the United States
for US$446 million. Old Mutual would
continue to own only 5 per cent of this business. The next stage
was a separation from its business in the
United Kingdom, which provided financial planning, financial
advice, and investment advice services. The
new business was named Quilter after one of its subsidiaries

43. and was listed on the London Stock Exchange
and the Johannesburg Stock Exchange (JSE).
OMEM consisted primarily of all of Old Mutual’s African
businesses, including life insurance, asset
management, and banking. Five billion shares in Old Mutual
were listed on the JSE and the London bourse
on June 26, 2018, as well as in Malawi, Namibia, and
Zimbabwe. Old Mutual was created as the group’s local
holding company, and it would incorporate OMEM. It would be
headquartered in Johannesburg and focus on
emerging markets in Africa. This meant that the group’s
emerging market activities now resided in Africa.
Old Mutual had ownership of 54 per cent in Nedbank, but most
of its shares would be transferred to Old
Mutual shareholders in the six months following the listing. Old
Mutual would retain only 19.9 per cent of
the bank. The listing of Old Mutual on the JSE meant that its
senior leadership would be led by local executives
from Africa. Additionally, Old Mutual’s African homecoming
signalled its commitment to and confidence in
the South African financial markets and helped raise investor
confidence in the economy. The OMEM name
was changed to Old Mutual Limited after the unbundling.
CULTURAL CROSSROADS

44. Old Mutual had reached a cultural crossroads. The core
founding values of respect, integrity, and
accountability were solid and positive; however, the
organization had developed and advanced past these core
values. Additional touchstones were needed to shape, advance,
and strengthen the culture. As a forward-
looking organization, Old Mutual had to constantly adapt by
shifting priorities and influences; as a result, the
core values had to be expanded to include diversity and
inclusion, agile innovation that made a difference,
and championing of the customer. The organization’s leaders
decided that strengthening customer-centred
values at the heart of the business was the key to the change
they wanted to embrace, and it quickly became
clear that refining Old Mutual’s values and culture would play a
critical role in this transformation.
Once the organization decided to add to and change its core
values, it was important to reinforce these with
organization-wide rituals. The journey of transformation for
Morule’s leadership team began in March 2016
with the announcement of the “managed separation” change in
strategy. When Morule joined Old Mutual in
2010, she had found it necessary to learn how to manage the
people side of the business. When she was
appointed as managing director of Personal Finance in 2016,

45. Morule was able to draw on her learnings from
both engaging her team and learning from them. She realized
that working as a team was a key factor in
recovering from challenges.
LEADING THE CHANGE IN PERSONAL FINANCE
Morule’s strategy began with the inclusion of her executive
committee (see Exhibit 2) in Personal Finance, a
quality team representative of the diversity Morule wanted to
see in the business. The team had started with
three people of colour and seven White members, and it now
included seven people of colour and three White
members. The team also increased in gender diversity, with four
women and six men. This team would begin
building, sustaining, and supporting the creation of a shared
language for change. Morule’s team had a
technical understanding of the need for change and were seen as
leaders in the business who would exhibit
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50. Page 5 9B20C016
the change in their behaviour. The entire approach to this
change had to be one of controlled urgency to
achieve an outwardly-focused purpose to enact meaningful
change. There was no backup or contingency plan.
Morule was encouraged by seeing her leadership team embrace
as a priority the need to shift the culture and
their employees to the next step in the unbundling process.
In leading the change in the Personal Finance segment of the
business, Morule had to ensure that key
stakeholders and other influential individuals in the business
knew what was required of them and why.
Morule first engaged her team in individual conversations to
exchange ideas and develop shared
understandings through an honest exchange of information. This
exchange of information would help her
leadership team see how their roles, and the changes being made
to them, fit within the larger strategy being
executed. This one-on-one conversation included knowing
where they were, knowing where they wanted to
go as an organization, and building the road map to get there.
From the start, Morule recognized the

51. importance of communicating how the desired changes were
essential for aligning the organization with
growth in the new business environment.
Morule then set up a weekly meeting where the leadership team
discussed ways to implement and drive the
new behaviours needed for the change to succeed. Morule
ensured that this weekly meeting maintained a fun
and supportive atmosphere where her team felt safe to suggest
and try new things.
Morule was an executive sponsor of the Gauteng PMB. This
committee consisted of representatives of the
different business units in the province. The function of this
committee was to break down the divisions of
silos and gain a commitment and influence from the front-line
managers, and representatives from the
different branches who had direct contact with clients. Morule
used this committee to share information with
the lower levels of employees in the organization. In order to
leverage change, Morule’s method was to turn
these PMB front-line managers into cultural leaders by sharing
with them detailed information about the
culture change journey. Therefore, every session with the PMB
had an agenda point detailing the way forward.
Morule found that the PMB team both supported and challenged

52. her executive committee, and, importantly,
they motivated each other to carry the change agenda into the
different levels of the organization. Morule
continually encouraged the PMB managers by recognizing that
everybody’s voice mattered⎯ the PMB
managers had to feel that, as leadership, what they said had
been heard and mattered.
MOTIVATING CHANGE
Morule recognized that to effectively lead change, she had to
understand the landscape of change and to
experience it. She determined that, together with her leadership
team, she had to go through the process of
learning first-hand about their customers. In the past, the
leadership team had found it difficult to relate to
customers because they did not interact with them directly. The
leadership team considered their customers
to be either company employees or third-party insurance brokers
and financial advisers rather than the end
consumers of their services. Morule and her team decided that
they needed to understand the end customer
experience as part of the change journey. Morule embarked on a
business transformation initiative with one
aim: to put the customer first. She encouraged each of her team
members to become customers themselves,

53. which led to discussions of the customer experience in taking
out a money market account, encountering
challenges when using an ATM for the first time, or
experiencing difficulty getting through to the call
centre. Morule used the feedback from her leadership team to
institute changes that she believed only they,
as the leadership team, had control over. For example, Morule
asked the contact centre to send her team
recordings of phone calls from customers. Then, in preparation
for the leadership team discussion, the team
would listen to the calls to understand how they could improve
the customer experience. Morule personally
sat with an agent during a live call and witnessed the frustration
of an agent having to navigate between
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Page 6 9B20C016
countless screens to deal with a customer query. This led to her

58. challenging the service teams to use desktop
technology to bring everything together in one place. This
integrated a myriad of existing processes and
streamlined business applications. It was her firm belief that by
empowering the agent in their work
experience, the agent would mirror this in the customer
experience because a great customer experience
was anchored in a great employee experience.
LEADING CHANGE
Morule believed that leadership involved connecting employees
to purpose and empowering them to do
great work, as well as creating a sense of camaraderie. She felt
that Personal Finance should hear about any
cultural or organizational changes from her. She committed to
approaching the culture change with an
upbeat and optimistic energy so others would feel this as well,
and it would alleviate any anxiety about
what lay ahead. Morule was often told in her conversations with
various advisers in the business that they
believed the leaders who determined and set the strategy were
often far removed from the issues of those
further down the organizational hierarchy⎯ the ones left to
execute and deal with the front-line challenges

59. that change created. Morule set out to change this by engaging
people throughout the organization in an
effort to understand and influence their outlook. For example,
she took part in managing director (MD)
road shows across the entire segment of her business. The MD
road shows were the start of involving people
in creating excitement for the cultural change. The previous MD
had only visited large regional centres
when interacting with employees. In contrast, Morule visited
outlying rural areas to speak with employees
there about the change that was to come.
During the MD road shows, Morule and her team found
opportunities to have individual discussions with
employees regarding how they would be affected by a cultural
change. Over time, Morule had learned that
leadership was not always about what the leader knew but,
rather, about people feeling like they were all
in it together. It was not necessary to have all the answers; it
was necessary to craft answers together. In
view of this, the MD road shows also presented the opportunity
for people in the organization to discuss
their concerns⎯ before any change was ever delivered.
Morule insisted that internal communication be taken seriously,
resulting in the creation and management

60. of a wide range of interactive platforms and internal channels to
engage and motivate employees to ensure
they were kept in the loop about the latest company news and
business developments. These included an
intranet site dedicated exclusively to updates on the change
process, a weekly newsletter, a rebrand, an
update of the company magazine, and monthly posts by Morule
on a blog titled “Karabo’s blog.”
The Old Mutual leadership team, where Morule was one of 13
executive members reporting to the chief
executive officer, conceptualized what they wanted the Old
Mutual brand to represent.
10
As a team, they
jointly defined a series of unique branding propositions⎯ using
collaborative input from people throughout
the business⎯ that would give Old Mutual standout recognition.
The leadership team focused on clarifying
balanced priorities, creating energy, and signalling a
commitment to change in performance and behaviour.
10 The 13 executives who reported to Chief Executive Officer
Iain W illiamson (at the time of the case study) were Karabo
Morule, managing director, Personal Finance; Casper Troskie,
chief financial officer; Raymond Berelowitz, director, Customer

61. Solution
s; Khaya Gobodo, managing director, W ealth and Investments;
Prabashini Moodley, managing director, Old Mutual
Corporate; Garth Napier, managing director, Old Mutual Insure;
Celiwe Ross, director, Human Capital; Clement Chinaka,
managing director, Rest of Africa; Vuyo Lee, chief marketing
officer; Clarence Nethengwe, managing director, Mass and
Foundation Cluster; Richard Treagus, chief risk officer and
acting director, Governance, Regulatory, and Corporate Affairs;
“Our Leadership,” Old Mutual, accessed January 15, 2020,
www.oldmutual.com/about/leadership/executive.
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Page 7 9B20C016

68. IMPLEMENTING CULTURE CHANGE: PULSE
A shift in thinking from the way communication had always
worked in the past to the way forward would
take time and focus, but a shift had to start. The Old Mutual
leadership team had a unique opportunity to
own their vision of change instead of following instructions
devised in London. This heralded the beginning
of the campaign that embraced “the power of now” and brought
to life the prospects and possibilities that
came with acting in the moment. This was turned into a
motivational rallying cry for Old Mutual, with “The
Time is Now” leading the company’s campaign to change (see
Exhibit 3).
The managed separation resulted in Old Mutual being a stand-
alone entity on the African continent. The
leadership team focused on developing a brand to quickly build

69. the entity into a viable business, and Old
Mutual adopted a vibrant new brand identity to express their
new customer-led approach with the focal point
in Africa. Performing in a new environment created a need to
identify a new group of values that better fit the
company’s circumstances. Through the stakeholder engagement
process described above, the four existing
values evolved under the leadership team into a set of six
radical values designed to guide employees in their
interactions with each other. This would drive a fresh new brand
and define what great …
2
Consulting Proposal

70. Consulting Proposal
Executive Summary.
Old mutual was first established in 1845 in Cape Town, South
Africa. After many years of operation, the company made an
expansion decision to go international. In 2016, it was separated
into independent, stand-alone businesses, including African
business, British wealth manager, U.S. asset manager, and
Netbank. The main aim of separation was to ensure easy
management of the various companies, due to their geographical
distribution. The African business consisted of banking
services, life insurance, and asset management services. In
2016, Morule was appointed the personal finance managing
director to manage the African business segment (Ivey, 2020).
Given that the African market comprises of people of diverse
culture, Morule discovered the need to initiate a cultural
change. The need was to create an ideal and robust
organizational culture, necessary for keeping the organization
sustainable and competitive in the market. Regarding this, the
new cultural change requires the incorporation of customer-
centered values to the previously existing values to achieve
increased competitiveness, improved customer service, and
increased performance, among other benefits.
Introduction
Organizational culture plays an essential role in facilitating the

71. success of any organization. An organization culture is build
based on various shared values that determine how people
operate and relate to the organization. For instance, the critical
founding values of Old Mutual were accountability, integrity,
and respect (Ivey, 2020). However, the idea of introducing
cultural change in the organization necessitated the creation of
new values, including diversity and inclusion, championing the
customer and agile innovation. Today, it is critical for
companies to create customer-centered values to meet the
specific needs of their customers and ensure their satisfaction.
Therefore, Old mutual needs to create a new culture that puts
much focus on the interest of their customers. Old Mutual key
vision is to become a premier financial service provider in
Africa, while ensuring strong relations and better understanding
of the customer need and the entire consumer market. Also, the
company aspires to develop a long-term competitive advantage
(Oldmutual.com, 2020). As a result, introducing a new cultural
change that focuses on customer-centered values will help Old
mutual to achieve its mission and the various desired goals.
Client Problem and Goals.
Old mutual is faced with the core problem and dilemma of
creating and implementing a new cultural change. Previously,
the culture of the organization incorporated three significant
values, including accountability, integrity, and respect.
However, the company intends to incorporate a new culture that

72. is heavily based on customer-centered values (Ivey, 2020). The
new culture focuses on integrating the various company’s
shared values to maximize customer experience and satisfaction.
For instance, a new culture of diversity and inclusion will help
to ensure that the interests of all customers from different
cultures are put into consideration. Also, introducing a new
culture of innovative technology will help in improving the
quality of service to customers. Additionally, customer
championing will help the company to understand its customers
better, thus leading to the provision of better services and
customer satisfaction.
The primary goals for the new cultural change include:
i. To achieve sustainability and increased competitiveness in the
African market.
ii. Integrate a customer-led approach that mainly focuses on
customer needs and interests, based on their diverse cultures.
iii. Acquiring and retaining top talented professionals to help in
provision of better-quality services and enhance efficiency and
effectiveness.
iv. Integrating innovation and modern technology to the
company’s operations to ensure increased speed, simplicity of
operations and cost effectiveness. Again, this will help to
ensure improved performance and provision of better customer
services.
Project Purpose and Scope

73. The core purpose of the project is to provide a comprehensive
proposal that outlines how the new cultural change for Old
Mutual can be achieved and implemented appropriately. The
scope of the project mainly covers the various steps and the
necessary actions that will help to ensure successful
management and implementation of the desired new change to
achieve the specific set goals. For instance, better
communication, engagement, leadership, as well as employee
training and motivations, are some of the essential aspects
needed throughout the change management and implementation
process. Regarding this, proper communication, engagement and
leadership helps to ensure that the entire process is conducted
perfectly well as required. Also, employee training and
motivation is helpful, as it helps them to focus on achieving the
desired goals.
Methodology and Process
The culture process will involve several steps and actions as
discussed below:
1. Initiating Change
Initiating change is an essential aspect in achieving the
organizations desired goals and objectives. However, it is
crucial to understand why the change is needed and determine
its urgency. Regarding this, Old Mutual wants to initiate a

74. customer-oriented culture that focuses on understanding what
the customer needs and delivering the best services to customers
(Oldmutual.com, 2020). In the business world, customer
satisfaction is the key to winning the loyalty of your customers,
hence resulting in success. Also, innovation and technology are
an essential element to achieving improved performance,
efficiency, and improved quality services. Again, Africa
constitutes of people of different cultures; thus, Old Mutual
must focus on diversity and inclusion of all customers from
diverse cultures across the African continent. Therefore, this
shows the need for Old mutual initiate a new culture that
embraces the values of innovation, diversity, and inclusion as
well as customer championing. Incorporating these values to the
previous shared values of integrity, accountability, and respect
will help the company to achieve its mission.
The initiation stage will involve defining clear values
for the change, based on what the company desires to achieve.
Again, the step will include creating awareness about the
transition to all company leaders and employees. Regarding
this, the change manager will develop an awareness creation
program to communicate the need for change to all company
employees. Creating and implementing any new change in an
organization requires combined efforts of all employees.
Therefore, it will be necessary to ensure that all employees are
aware of the new change and support it.

75. 2. Create an Organization Culture That Supports and
Encourages the New Change.
In this stage, the change manager and the company top
managers need to create a conducive environment, whereby all
the company employees feel comfortable with the new change.
Also, they must act as role models by supporting the changes to
enable other employees to emulate. Again, the employees
should be allowed to participate and generate their ideas
concerning the new changes. Through this, employees will make
employees feel honored as part of the change team, and also
minimize any possible resistance from the employees.
Employee training and education should also be conducted
during this stage. The employees are trained on their roles and
how they can positively contribute towards ensuring effective
implementation of the change plan. Also, they are educated on
the new shared values and the various goals that the company
indents to achieve. As a result, it helps employees to acquire a
better knowledge of what the latest change entails, and the roles
they can play to ensure that the change is implemented. Again, a
change leadership team is selected to oversee the entire process
of managing and implementing the desired change.
3. Implementing Change
Implementation of the culture change will involve a combined
effort by both the company leadership and all the employees.

76. First of all, to initiate a culture of diversity and inclusion, the
company will engage in recruiting competent employees from
diverse cultures. This will help the company to have an
employee team of people from different cultures, resulting in
employee diversity and inclusivity. Again, the company will
focus on acknowledging and respecting the diverse culture of its
customers from different regions. To achieve this, the company
leaders and employees can organize visits to their customers
from different areas, interact with them and understand their
culture better.
Given the importance of innovation in the modern
business world, agile innovation is a core value that Old Mutual
must incorporate in the new change. The company should create
a culture that focuses heavily on innovation and the application
of modern technology in its operations. To achieve this, the
company will attract and maintain highly talented, creative and
innovative employees who will bring a wide range of essential
innovations to the company. Again, the company will invest in
research and technological advancement to enhance the
development of new and better innovations, hence resulting in
improved performance and better-quality services. Additionally,
the company will develop employee training and development
programs to enable employees to acquire better skills and
knowledge necessary for enhanced innovative culture.
Furthermore, customer championing is essential for the

77. company to achieve loyalty from its customers, hence
improving its competitiveness. Old Mutual can accomplish this
by developing a culture of direct engagement and better
communication with the customers. Therefore, the company will
organize roadshows to interact with its existing and prospective
customers from different regions. Visiting the customers at the
grassroots level will enable the company to understand the
customer needs, interests, and concerns. As a result, this will
help the company to develop better strategies for enhancing
customer satisfaction, based on their variety of needs. Also, the
company will create appropriate communication platforms to
facilitate better communication and continued engagement with
the customers.
List of Responsibilities
Implementation of the desired culture change requires combined
responsibility by both the Old Mutual managers, the project
team, and other employees.
Managers
The managers have several key responsibilities in
ensuring the effective management and implementation process
of the new change. For instance, they are responsible for
defining clear values and goals of the new change. Also, they
are responsible for educating and creating awareness to all

78. employees regarding the new change. They are also supposed to
advocate for the change and act as role models so that other
employees can emulate them and support the idea. The
managers also engage in training employees and educating them
about their roles in implementing the change. Also, they help in
managing resistance from employees or other leaders to ensure
that all company employees and leaders support the change.
They also select the project team, necessary for designing and
pushing the implementation process. Again, they engage in
monitoring and supervising the entire implementation process to
ensure that everything goes smoothly as expected (Prosci.com,
2020).
Project Team.
The project team engages in designing the actual change,
including the steps that will be followed to ensure a successful
implementation. Also, they ensure that the necessary resources
required for the implementation of the change are available.
They also engage and communicate with the entire change
management team to ensure that they are all in unison. Again,
they integrate change management plans into the project
implementation plant to achieve the desired goals.
Other Employees
Employee involvement is the key to the success of any
organizational change. For instance, employees are involved in
direct communication and engagement with the customers,

79. hence help to ensure the new transition is implemented. Also,
the employees engage with the managers and the project team to
ensure that the implementation process goes smoothly.
Anticipated Outcomes and Benefits
Successful implementation of the change will result in several
important outcomes and benefits as follows. For instance, it will
lead to sustainability and increased competitiveness of Old
mutual in the market due to improved customer loyalty. Also, it
will facilitate increased innovation and the use of better
technology, thus leading to the provision of improved services
and customer satisfaction. Innovation and technology will also
help to reduce risks and enhance cost-effectiveness in the
company’s operations. Again, it will help in the development of
a diversified culture that acknowledges and respects the culture
of others. Also, it will help in ensuring that customer needs and
interests are given the priority, hence resulting in better
relations and interaction with the customers. Additionally, it
will help in attracting competent and innovative workforce from
diverse cultures, thus leading to improved services, efficiency,
and effectiveness in the company’s operations.
Project Deliverables.
The final project deliverables include:
i. Improved sustainability and market competitiveness.
ii. Improved diversity and inclusion of both the employees and
customers.

80. iii. Increased innovation in the company operations.
iv. Improved customer satisfaction and loyalty.
v. Top talented and innovative employees.
vi. Improved speed, simplicity of operations, and cost-
effectiveness.
Timelines and Milestones
The entire change project is anticipated to take a maximum
duration of 6 years to become fully implemented and achieve
the various desired goals. The first and second year will involve
the initiation of the change and creation of a conducive
environment that will allow successful implementation of the
change. The other four years will include incorporation of the
various values including, agile innovation, customer
championing as well as diversity and inclusion into the change.
That will be achieved following the various steps discussed in
the methodologies and process section.
Figure 1.
Timeline
Event
Year 1
Initiating change
Year 2
Creation of a conducive environment that allows and supports
implementation of the change
Year 3,4,5,6

81. Incorporation of the three key change values, including agile
innovation, customer championing, and diversity and inclusion.
Pricing and Terms and Conditions.
The total price to be paid by the client will be agreed upon
through a mutual negotiation with the consulting firm. The
client will then pay the amount of money to the consultant
based on the agreed terms of payment. Both the client and the
consultant will ensure a high level of confidentiality regarding
critical information. The client will be required to provide the
necessary information at all times when needed. Again, the
consultant shall, at all times, ensure that the project runs as
expected to achieve the desired goals. Also, the consultant shall
ensure that the project is fully implemented within the set
timeline. Additionally, any possible termination of the contract
must be agreed upon by the two parties, after giving a prior
termination notice in writing.
Any Other Issues
Organizational change is good, but achieving its successful
implementation may be quite challenging. For instance, the
project may be faced by several challenges such as employee
resistance, communication issues, and difficulties in
implementing new innovative technologies, among other issues.
However, appropriate strategies and actions must be put in
place to prevent or even solve such problems when they arise.

82. Consultant’s profile.
We are a top-ranked consultancy firm in providing
organizational change services. For over six years, we have
worked with many clients and proven our outstanding expertise
in delivering services that exceed our client’s expectations. Our
expertise and experience revolve around all types of
organizational changes, including structural change, cultural
changes, and strategic management changes, among others. We
usually focus on providing a collaborative working environment
and step-by-step communication to ensure that everything runs
smoothly and in the right way. Again, our working atmosphere
is professional, and our approach focuses on achieving the best
results to achieve maximum client satisfaction. After the project
has been fully implemented, we also engage in assessing the
change outcomes and impact to ensure that the set goals have
been achieved.
References
Ivey. (2020). Old Mutual Limited: Leading Culture Change.
Retrieved 10 May 2020.
Oldmutual.com. (2020). Our Strategy. Retrieved 10 May 2020,
from https://www.oldmutual.com/about/our-strategy.
Oldmutual.com. (2020). Our Values. Retrieved 10 May 2020,
from https://www.oldmutual.com/about/our-values.

83. Prosci.com. (2020). Manager/Supervisor's Role in Change
Management. Retrieved 10 May 2020, from
https://www.prosci.com/resources/articles/manager-change-
management-role.
Appendices
Figure 1
Timeline
Event
Year 1
Initiating change
Year 2
Creation of a conducive environment that allows and supports
implementation of the change
Year 3,4,5,6
Incorporation of the three key change values, including agile
innovation, customer championing, and diversity and inclusion.
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BUSI 640 (V01) – Individual Assignment Brief 1
ACADEMIC YEAR 2020 – SPRING TERM
MBA (VAN01)
(MASTER OF BUSINESS ADMINISTRATION)

86. TIER 1
BUSI 640 – CONSULTING PRACTICE
INSTRUCTOR: DR. PAURIC P. O’ROURKE
INDIVIDUAL ASSIGNMENT BRIEF-PARTS 1, 2 & 3
TOPIC: INDIVIDUAL CASE STUDY
50% (10%, 20% & 20%) OF TOTAL COURSE GRADE
SUBMISSION DATES: VARIES - WEEKS 3, 5 & 8
ONLINE VIA STUDENT PORTAL(MOODLE)

87. TURNITIN LINK
BUSI 640 (V01) – Individual Assignment Brief 2
Learning Outcomes:
On successful completion of this assignment the student will be
able:
1. To develop abilities to gather, analyse, interpret and evaluate
information on a
management consulting task and project related topic(s).
2. To strengthen conceptual and analytical skills in the study
management
consulting.
3. To build tangible links between the theory and practice of

88. management
consulting.
4. To heighten awareness and understanding of management
consulting in action
and gain greater self-awareness of oneself as a consultant.
5. To develop and present thoughts, arguments, and informed
opinions in a logical
and coherent way.
6. To develop creativity and critical management skills.
7. To develop skills in case study navigation and analysis.
8. To demonstrate academic and management research,
proposal, report writing
and composition skills with academic and business integrity.
9. To consistently apply the APA system of academic
referencing.
10. To demonstrate word processing and IT skills
11. To develop project and time management skills.
12. To develop healthy and functional work habits in
progressing confidently and

89. consistently towards a defined submission deadline date.
Individual Assignment – Overall Task
Using your chosen Ivey Case Study as your client organisation,
immerse yourself in the
role of Management Consultant in providing a consulting
service which involves the
following key milestone deliverables/tasks/assignments::
Part 1: Write a comprehensive Proposal for your client
(10%)
Part 2: Environmental Scanning and Analysis
(20%)
Part 3: Generate Strategies and Recommend A