Perceptions, responses, and challenges during organizational change: The case of the Bangko Sentral ng Pilipinas

• Main Author: De Leon, Paul Anthony R.
• Format: text
• Language: English
• Published: Animo Repository 2019
• Subjects: Organizational change; Organizational Behavior and Theory
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/6618; https://animorepository.dlsu.edu.ph/context/etd_masteral/article/13588/viewcontent/De_Leon__Paul_Anthony_R.___Thesis_Final_P.A._De_Leon2.pdf
• Institution: De La Salle University

Companies all over the world encounter changes during one time or another in their organizational lives. The Bangko Sentral ng Pilipinas (BSP), the Philippines’ foremost government institution, is not exempted to this reality, especially after the enactment of Republic Act No. 11211, which mandated the amendments to the New Central Bank Act of 1993. The amendments are seen to revitalize the BSP through enhancement of corporate viability and strengthening of its monetary and financial stability functions. As these changes mandated by Law primarily impact the BSP employees, this study endeavors to explore organizational changes in their perspective by looking into their perceptions, responses, and challenges during the implementation of organizational changes in the BSP. Conducted with a qualitative research design, this study finds that the employees’ understanding, which is dependent upon availability and accessibility of information regarding the changes, plays a vital role in molding their perceptions towards changes. In addition, employees respond to the changes either by being open or by being resistant. On the one hand, their openness to changes is emboldened by trust. On the other hand, their resistance is fueled by the non-attainment of their personal and professional desires. Finally, while there are challenges to organizational changes, this study resolves that the BSP management is generous and facilitative in providing motivation to their employees to continuously become productive and ultimately prolong their stay in the organization even amidst waves of organizational changes that are happening or are yet to happen in the BSP.