Transformational Changes in State-Owned Enterprises (Case Study: PT Pegadaian (Persero))
Andreas Togi Lamsihar, Martani Huseini
Faculty of Administrative Science, Universitas Indonesia
Abstract
The globalization and the rising of digital technology in the recent era have put the state-owned company to adapt to the external environment with fierce competitions from other companies. In this sense, management is in need of organizational change. Company transformation is often used to do fundamental changes undergone by organizations. Transformational change involves changing in existing structures, organization and culture that will lead to new vision, market opportunities, and innovation. This study aims to acknowledge the effectiveness of implementing strategic change through the 4 R framework (re-frame, restructure, revitalize and renew) by state-owned enterprise PT Pegadaian (Persero) in conducting the corporate culture transformation as a response to the changes in the financial industry in Indonesia. Literature studies and in-depth interview are chosen as the method for finding out the current situations of PT Pegadaian (Persero) and future possibilities of changes in corporate culture in this company.
Keywords: transformation, organization, change management, corporate culture, innovation
Topic: Business Administration