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TOC o “1-3” h z u Context of the background information on Mizuho Bank (Yangon Branch) PAGEREF _Toc514419212 h 2Task 1 a. Discuss methods for identifying your chosen organization’s stakeholders. You must make reference to appropriate tools and theory. PAGEREF _Toc514419213 h 3Task 1 b. critically analyzes the organization’s key stakeholder groups on the basis of their respective power/interest in relation to the change project. You must make reference to appropriate tools and theory. PAGEREF _Toc514419214 h 5Task 2.a Prepare a detailed ‘force field analysis’ relating to your change project. Discuss how the ‘restraining forces’ identified in the analysis might be overcome. PAGEREF _Toc514419215 h 7Task 2.b Prepare a detailed stakeholder engagement plan supporting the change project. PAGEREF _Toc514419216 h 9Task2.c it is important that the engagement plan is reviewed after implementation to ensure it is effective, Evaluate different methods that can be used to ensure its effectiveness. PAGEREF _Toc514419217 h 11Task 3. a Evaluate different stakeholder communication methods for dealing with potential resistance to the proposed change project. PAGEREF _Toc514419218 h 12Task 3.b Evaluate the different negotiation techniques that can be used to eliminate this conflict. Use appropriate theory and examples to support your answer. PAGEREF _Toc514419219 h 14References PAGEREF _Toc514419220 h 16
Context of the background information on Mizuho Bank (Yangon Branch)Mizuho Bank Ltd (Yangon Branch) is one of the branches of Mizuho Financial Group, a leading global bank, with one of the largest customer bases in Japan, and a global network of financial and business centers. Its parent company has 86 overseas branches, 60,000 experts worldwide and approximately 26,839 employees. Being the “customer first” principle as a centerpiece in servicing both individual and corporate customers, it aims for the goal of becoming the most trusted bank. On September 2014, Mizuho bank (Yangon Branch), MHCB YGN, was one of the nine foreign banks granted approval by the Central bank of Myanmar to operate in the country as the first time for more than 50 years that foreign banks have operated in Myanmar. MHCB YGN Products are Current Account, Saving Account, Fixed deposit, Remittance, Payment Order, Payroll services, Foreign Currency exchange service, Trade services (L/C issuance, acceptance and confirmation, acceptance and negotiation of import/export bills), Loan, Guarantee and E-banking services. Its competitors are not only the local banks but also the Foreign Banks that operating in Myanmar which is Thailand’s Bangkok Bank, Japan’s Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation, the Industrial and Commercial Bank of China (ICBC), Malaysia’s Maybank and two Singaporean lenders, Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB). Its customer segment is mainly from the Thilawa Special Economic zone, a government to government project, which attracts the Japanese Business to operate in Myanmar and others customers.

Task 1 a. Discuss methods for identifying your chosen organization’s stakeholders. You must make reference to appropriate tools and theory.Nowadays, stakeholder analysis is a key for businesses that operate in a fast-paced environment to identify anyone who has an interest in the organization. The Management of Banking Industry also needs to identify the basal stakeholder, neutral stakeholder, primary stakeholder and secondary stakeholder in order to understand and clarify their needs, interests. MHCB YGN stakeholders are as follows: customers, shareholders, employees, regional/local communities, suppliers, competitors and government authorities. There are numerous methods for identifying the stakeholder of Banking Industry.
Horizon Scanning
Stakeholder Lists/Register

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Methods of identifying stakeholders

Scenarios and Storytelling

Task by Task assessment

Methods of identifying stakeholders
Among them, MHCB YGN use the stakeholder lists/Register Method, scenarios and storytelling Method and Brainwriting Method. The stakeholder lists/register method is used for formal records which include the details and analysis of the stakeholders including any activities. Since this register includes the latest name, contact information, expectations, interests, and requirements, it requires active ownership to update and search the information. All the information is in one place for all the data needed although it is time-consuming to construct. An industry like Banking use this method as the record is not only consumer information is safe but also it identify which stakeholder to be approached or not. Without the stakeholder lists or Register, business is hard to compete with the rivalry.

The Scenarios and Storytelling Method is used to classify the value that stakeholder management brings to the project team. It is a useful method for facilitating collaboration around stakeholder management. In MHCB YGN, this method plays a big role in the organization as it encourages cross-functional working. When MHCB YGN makes the operational errors or the information is leaked, it have to report OER (Operational Errors Report) to the head office about when, how and who are in charge for this case to prevent not to happen in the future. Then the head office records the list and shares this information for the other branches by using the scenarios and storytelling method. By using this method, MHCB YGN makes sure that the operational errors will not be happen twice and attract the customer satisfaction.
Braining writing Method is used when the management wants the stakeholders to participate for the business activity or change. Stakeholder focuses on the issue by ideas on a paper and each participant writes their own idea on a card, which is then shared with a second participant who reads the idea and adds contribution before passing it on. The advantage is that the stakeholder feels included and respect, free flow of ideas which the management would have missed. The disadvantage is that if the management considers the entire stakeholder to be pleased according to their ideas, then this method is ineffective within time bound. MHCB YGN used this method when they participate in Myanmar Japan festival at March 2018. They announced that this festival will be held and presented for their bank to know well in Yangon. So they let their employees to participate and asked for the ideas by using Braining Writing Method.

Task 1 b. critically analyzes the organization’s key stakeholder groups on the basis of their respective power/interest in relation to the change project. You must make reference to appropriate tools and theory.At MHCB YGN, all operational staff job of the operation department includes the opening accounts, Fixed Deposit, Payment Order, Payroll services, Foreign Currency exchange service, Trade services, loan, Guarantee and E-banking services. When the business was at the introduction stage, the operational staff could handle and control all of the jobs. But when the business passed the introduction stage, the operational staff couldn’t control all jobs anymore because the risk of sharing and controlling the job is burden for them. So, its management now planned to change one operation department to divide three departments named Foreign Currency department, Loan and Guarantee Department, E-Banking and remittance department. Foreign Currency department includes Fixed Deposit, Foreign Currency exchange service, and money market service. Loan and Guarantee department includes all the transaction related with loan and guarantee. E-banking and remittance department includes the opening accounts, internal remittance, external remittance, and all the e-banking related with operation.

Influence, Power of stakeholders


Interest of stakeholders
MHCB YGN understands that it is important to identify the impact and the influence of the different stakeholders use to determine the possible threat or opportunities for a stakeholder could offer. The power and interest matrix (Johnson and Scholes, 1999) is a useful mapping tool to help identify the strategic influence and potential impact that different stakeholders have on this change project.

High Power, Low Interest stakeholders are important as this type of stakeholder is kept satisfied by meeting their needs. Although they may show little interest to the change project, they are a group with a lot of influence/power. They are difficult to approach as the power is high compared to other stakeholders. The management can try to increase level of interest by engaging and consulting. At MHCB YGN, these types of stakeholders are shareholders and government authorities. They both have high power to MHCB YGN but they have little interest as the internal change project doesn’t impact enough.

Low Power, High Interest stakeholders are meant to be informed as they have a high level of interest although they have little power. They may seek to increase their power by joining other stakeholder groups because of the interest level. In order to manage this stakeholder, it is necessary to provide enough information to the stakeholder to justify project plans and avoid resistive behaviors. At MHCB YGN, Employees (operation staff-junior officers, senior officers) are the one who have the high interest but with low power. They will support the project and should be given regular updates to keep them included and motivated. Management has to give them the potential support by making use of interest though involvement in low risk areas.

Low Power, Low interest stakeholders requires minimal effort because they can be easily influenced. They can count as the least important as their lack of interest and power are susceptible to influence. They can be informed by general communications. Supplier and competitor may have power on other competitive advantage but they do not have power on internal change projects. They also do not have the interest.

High Power, High interest stakeholders are key players as the management of this group requires consultation and strong communication to avoid restrictions in the change project implementation. Since they have the high power and high interest, they are capable of opposing the planned actions effectively and even change the drive if they desire it. In this case, management and head department are the key players as they need to plan ahead.

Task 2.a Prepare a detailed ‘force field analysis’ relating to your change project. Discuss how the ‘restraining forces’ identified in the analysis might be overcome.The ‘force field analysis’ by Lewin (1951) is a method which provides a visual overview of the strength of different forces which impact upon a organizational change issue. As MHCB YGN change is the internal issue (separating three departments from one department), this tool helps to provide which stakeholders are a driving force or a restraining force and the strength and impact of their opposition. The driving forces can be internal and external as they need to support for the change whereas the restraining forces are that resist or are unfavorable to change.

Driving forces Restraining forces
(For change)(Against change)

Exact job description Job insecurity

Avoid operational errorRisk of transaction volume

Customer trust and satisfactionWorkplace

To focus on own task Communication
Force Field Analysis (Lewin, 1951)
The driving forces total scales are greater than the restraining forces total scales by using a Likert scale form one (weak) to five (strong). Under driving forces, the exact job description has the strong scale as the most staff is now having the same job description saying that the all operational works have to be done by everyone. So, everyone do all the works but the problem is that if any problem or issue arrived, staff do not know this issue is already finished or not between themselves. By that time that the staff knows this issue is already solved, it is a waste of time instead of working on others issue. In vice versa, if the issue or problem haven’t solved, MHCB YGN might lost the customer’s trust and satisfaction. If any problem did happen at that time, the operational error report have to be make by MHCB YGN to head office. If the MHCB YGN has many operational error reports in fiscal year, the reputation will slowly sink and this branch needs to be review by head office. If the mistakes are happening a lot , the not only with the relationship between head office but also with the customer as their trust was not strong as before. In conclusion for the driving forces, the staff needs to be focus on one task that they can handle and control by themselves by dividing the department.

Although the restraining forces scales are lower than the driving forces, these scales need to be careful. Job insecurity is the common threat for the staff as separating the department may hire or fire the staff. The old staff (senior staff, junior staff) feels insecurity as their job description is similar and insecure about the new department. The change period will not impact on transaction volumes because it has nothing to do with the internal change issue. As the department separate, the new work place requires. The Staff can use the old work place, office desk but the sitting plan has to change according to their relative department. The communication breakdown between the staff may happen although they have strong relationship.
To overcome the restraining forces seem to be easier in this change issue because the driving forces are stronger. Firstly, for the job insecurity, the management needs to negotiate and consult with each staff according to their needs. For example, if the staff is afraid of joining into the foreign currency department, then the management will have to plan the training session for the staff. By doing this so, the staff may feel appreciated and have a job opportunity. For the new work place, MHCB YGN may have to form the new sitting plan and may even make a new room for the departments. The communication breakdown is not easy for overcome as the staff may feel strange and awkward in the new environment. But as the time passes, they will understand that this change issue is the best solution for the brighter future.

Task 2.b Prepare a detailed stakeholder engagement plan supporting the change project.In order to achieve the organizational change project, stakeholder engagement plan provides a structure as to how each stakeholder relationship will be managed. Effective stakeholder engagement plan helps to operate and depends on mutual trust, respect and transparent communication between a company and its stakeholders. It thereby improves a company’s decision-making and performance. Before aiming to engage and influence stakeholders, it’s crucial to seek to understand the stakeholders who will be working with and relying on throughout the phases of the project lifecycle. Sharing information with stakeholders is important, but it is equally important to first gather information about the stakeholder.

Clayton (2014) offered a simple stakeholder prioritization tool for the stakeholders (tier one, two and three) in regards to prioritization. Tier one of the stakeholders are greater level of differentiation with a strategy that is narrowly tailored and customized to their needs. They can be identified as directors, senior managers and operational staff. The stakeholders of tier two are regulatory and compliance stakeholders to whom legislation or policy gives the responsibility. The stakeholders of tier three are all other stakeholders who are customers and shareholders to engage because it is ethical and in order to manage a risk which can be considered as broad and generic.

There are different strategic postures to identify the engagement strategy for each stakeholder including accommodating, collaborating, consulting, informing, promotional, defensive, and assertive. For Tier 1 engagement plan, the stakeholders are customers, shareholders, directors, senior managers and operational staff. As the change project is the internal change process, the communication method would be presentation, electronic (email, web) and written (poster, reports). According to the communication method, the engagement level is high because it is concerned with the whole industry. Since they are the key stakeholder for this change project, the strategic postures should be informing, accommodating and consulting. The information should be openly sharing for being transparent in order to avoid conflict. As the directors, senior managers and operation staff are the decision making stakeholders, the decision should include all stakeholder requests for changes in the plan. If the staff resists changes, the management need to consider consulting as the navigating complex issues to arrive at a mutually beneficial compromise. The directors and senior managers are the most responsible for the risk by separating three operation departments. The operation staff have to report the feedback of the change process by written (fact sheets) and electronic for monthly.

For tier two, regulatory and compliance stakeholders are the compliance department at MHCB YGN. The communication method to these stakeholders is written (fact sheets) as they need to follow the rules and regulation by Central Bank of Myanmar and the internal operation procedure. The engagement plan is medium as their options are noted. As the change process only affect the operation department, the compliance department don’t need to be considered. The method of feedback can be written.
For tier three, the other stakeholders include customers and shareholders because this change process is not necessary to inform them. Stakeholder engagement plan is important because of the better targeting and information. It is not only improves risk management but also increases efficiencies and accountability. The benefits of stakeholder engagement plan is to clarify how stakeholders with to receive information, whether or not they like to communicate and how often. It also identify the opportunities and threats the stakeholder poses.

Task2.c it is important that the engagement plan is reviewed after implementation to ensure it is effective, Evaluate different methods that can be used to ensure its effectiveness.Not only from the perspective of the industry but also from the stakeholders need to aware of how effective the implementation of engagement plan is. It is important that the management ensures that the engagement plans is under control of the process and make adjustments to ensure that each stakeholder is being engaged appropriately. The strategic stakeholder relationship engagement plan requires monitoring of the successful implementation of the engagement plan over a period of time against the objectives set. Monitoring the stakeholder engagement progress is to compare the awareness of the success the implementation and the desired planned performance.
Being aware of how the engagement plan is performing, collecting and analyzing data in relation to progression can be done in a number of ways. Data can be collected using survey, focus groups and observation to illustrate progress made using a chart showing average attitude over time. In this change progress, the observation method is suitable to ensure its effectiveness due to the most impacted stakeholders (operation staff) is in close contact and possible to observe their actions and monitor their attitudes based on their behavior. The employee opinion survey (EOS) is also a good method to monitor overall staff satisfaction. It is a short opinion survey specifically focused on the feelings staff around the change process in order to engage with them.
Another method is that a stakeholder balance sheet can be used to provide an understanding of the position of stakeholders at a given point in time.
Assets Liabilities
The staff that supports to divide the operation department. The staff that is opposes to divide the operation department.

The staff that is willing to take risks. The staff that does not want risk to shares.

Sometimes, the stakeholders may move from being liabilities to assets and examine the work that still needs to be done to maintain stakeholders in the assets and invest in the stakeholders who are liabilities.

Stakeholder perceptions can be measured using qualitative measure and quantitative measure to identify the impact that the engagement plan is having on stakeholder perceptions in order to provide direction. The qualitative measures are based upon opinions, motivations and underlying reasons such as proficiency, shareholder reports, stakeholder mapping and survey. The quantitative measures are based upon facts and figures such as trading figures, customer insight, supplier information and regulation.

Task 3. a Evaluate different stakeholder communication methods for dealing with potential resistance to the proposed change project.The Many
The Few
When dealing with different stakeholder, it is also inevitable that the change will be resisted to the proposed change project. The stakeholder communication methods need to ensure it is relatable to the targeted stakeholder group in order to effective the change project. All key stakeholders need to be communicated. The following stakeholder pyramid illustrates the communication strategy according to the importance of stakeholder.
The Stakeholder Pyramid (Clayton, 2014)
Based on the stakeholder pyramid, there are a wide range of communication methods which are very useful to engage with the stakeholders. Clayton (2014) provides a comprehensive list of formal and informal communication methods which are face-to-face, distance, written, online and broadcast. To deal with the potential resistance to the proposed changed project, these methods chosen will be based upon the engagement approach.
Formal method for this change project is more preferable than informal method as the change project is in the internal environment. As the key stakeholder are managers and operation staff in this change process, the face-to-face communication, distance and written method are used as the effective communication methods. Since Managers, directors and operation staff have to collaborate in order to deal with potential resistance of this change project, their resistance might be the conflict between them. By using two-way communication method, it enhances the communication and avoids misinterpretation because face-to-face method includes meeting which is one of the most common ways to communicate. It makes the stakeholder (managers and operation staff) to take part in the change process naturally. As this method also include seminars and training, the operation staff also feel they are part of the change process and appreciated. By giving them proper training of related departments, they will overcome the lack of confidence in themselves. Not only it includes training but also the surveys and interviews include, the management can see if the change process is effective or not during the time.
Also the conference call or tele-conferencing which is part of the distance method is the most common method as it does not require the time and expense of travel except for the phone call cost. As there are many paid and free services that will facilitate use of a conference call line for many people to dial into, it can overcome the potential resistance like the operation manager is at business trip or the urgent approval needed from the head office during the change project. Instead of making the expert staff to come into Yangon branch for this case, it is better to make only tele-conferencing and make decision making process quickly.
Although the written method is one way communication method among the formal, it utilizes press releases, memos, display boards, articles, case studies and reports. When dealing with the change is effective or not, the written method is seen as the report. One of the weaknesses is that if the stakeholder was read and understood, deleted as sometimes there is no feedback.
Task 3.b Evaluate the different negotiation techniques that can be used to eliminate this conflict. Use appropriate theory and examples to support your answer.After dealing with stakeholder potential resistance, the management needs to negotiate the stakeholder to eliminate the conflict. Conflict is an active disagreement between two people with opposing opinions or principles.To manage conflicts, there are five key styles according to the Thomas Kilmann conflict instrument: competing, accommodating, avoiding, compromising, and collaborating.




The Thomas-Kilmann Model
The Thomas-Kilmann model was designed by two psychologists, Kenneth Thomas and Ralph Kilmann, to illustrate the options we have when handling conflict. There are two dimensions in the model. The first dimension, the vertical axis, is concerned with conflict responses based on our attempt to get what the organization want. Thomas and Kilmann call these the Assertiveness options. The other dimension, the horizontal axis, is concerned with responses based on helping others get what they want. Thomas and Kilmann call these the Co-cooperativeness options.

1. Competing
The Competing option is at the top left of the model which means it take a wholly assertive and unco-operative approach to resolving the conflict. It means using the organization authority or power to satisfy the concerns without regard to the other person’s concerns.
2. Accommodating.
The Accommodating option is at the bottom right of the model which means to take a wholly unassertive and co-operative approach. This might allow the other party to satisfy their concerns while neglecting own.

3. Avoiding.

The Avoiding option is at the bottom left of the model which takes an unassertive and unco-operative approach to the conflict and don’t deal with it. Not paying attention to the conflict and not taking any action to resolve it.

4. Compromising.

The Compromising option is at the centre of the model because it is both assertive and co-operative but only to some extent. It’s the approach of “half a sixpence is better than none”. Both sides get something but not everything. It attempt to resolve the conflict by identifying a solution that is partially satisfactory to both parties but completely satisfactory to neither.

5. Collaborating.
The Collaborating option is at the top right of the model and is at the opposite extreme of avoiding. It means being willing to believe that when two parties are at loggerheads, it is possible for both sides to come out with what they want. Collaborating requires developed conflict resolution skills based on mutual respect, a willingness to listen to others, and creativity in finding solutions.

Conflict can have a positive side. It can promote collaboration, improve performance, foster creativity and innovation and build their deeper relationships.