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Title: Power, knowledge and change: investigating the dynamics of regulatory change from a Foucauldian perspective
Authors: Zaidi, S. Ahmed Sabeeh
Keywords: Foucault
Power
Knowledge
Change
Regimes
Truth
Politics
Trust
Coordination
Issue Date: 2011
Publisher: © S. Ahmed Sabeeh Zaidi
Abstract: The factors that facilitate or impede the implementation of change in organisations have received considerable attention in the academic literature. Much of the literature has attempted to identify the reasons for failed change initiatives. There is, therefore, a well-documented body of ‘best practice’ knowledge that should guide managers when introducing a change management project. However, despite the existence of this literature many change projects still fail. In addition, the change management literature fails to investigate the influence of power on the underlying organizational meaning systems and how meaning systems influence local power structures. Foucault argues that the meaning systems in which people exist guide how truth is produced and subsequently what is constituted as knowledge. For Foucault, ‘truth production’ and the dynamics of knowledge are situated in a theory of power. This study responds to Foucault’s suggestion that knowledge should be re-examined in the change management literature to better understand the interlinked nature of power and knowledge. The study adopts Foucault’s regimes of truth perspective and analyses the interplay between power and knowledge at both the organizational and industry levels. The worst economic crisis in recent times has seen widespread calls for better regulation and supervision of the international financial system. Regulatory change is becoming increasingly more common especially in the banking industry. However, because the record of implementation of regulatory banking changes in developing countries has been particularly poor it was thought that this area would provide a fertile domain for regulatory change management research. Consequently, this research project has two main aims: To identify the impact of Foucault’s regimes of truth on the sharing of knowledge within banks and across the local banking industry of a developing country during the implementation of the Basel II regulatory framework; and to examine the influence of knowledge sharing on the level of success associated with the Basel II implementation within the banks. This research project produced several key findings. Foucault’s regimes of truth and the interplay of power and knowledge were found to be influencing political manoeuvring, the level of interdepartmental trust and level of coordination within banks and between stakeholder organisations in the local industry. These regimes were also found to be facilitating and impeding the sharing of knowledge during the implementation of Basel II regulation. Consequently, the Basel II implementation was affected by the dynamics of the organizational regimes. Additionally, it was also recognized that the dynamics of regimes at the organisational level were influenced by industry level regimes. In summary, this study has emphasised the importance of considering the interplay of power and knowledge to ensure success when implementing regulatory change. These results will be of particular interest to regulators and banks in developing countries, change management practitioners and to the wider academic community. A series of practical recommendations are presented at the end of the thesis.
Description: A Doctoral Thesis. Submitted in partial fulfillment of the requirements for the award of Doctor of Philosophy of Loughborough University. If you are the author of this thesis and would like to make it openly available in the Institutional Repository please contact: repository@lboro.ac.uk
URI: https://dspace.lboro.ac.uk/2134/8528
Appears in Collections:Closed Access PhD Theses (Business School)

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