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    Presentation (ICICI Case Study)

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    Upendra Sachan
    ICICI was India's second largest financial institution that underwent major changes in organizational structure and business focus under new CEO KV Kamath in 1996. This included establishing new client groups and business units focused on key sectors. While this rapid change helped grow assets to Rs582 billion, it also created stress within the organization from moving too quickly. Problems included employee discontent, lack of identity for new groups, and rising job dissatisfaction. ICICI addressed these issues by implementing a 360 degree appraisal system, hiring consultants to streamline processes, and improving communication channels to decrease resistance to change.

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    Presentation (ICICI Case Study)

    Uploaded by

    Upendra Sachan
    5K views12 pages
    ICICI was India's second largest financial institution that underwent major changes in organizational structure and business focus under new CEO KV Kamath in 1996. This included establishing new client groups and business units focused on key sectors. While this rapid change helped grow assets to Rs582 billion, it also created stress within the organization from moving too quickly. Problems included employee discontent, lack of identity for new groups, and rising job dissatisfaction. ICICI addressed these issues by implementing a 360 degree appraisal system, hiring consultants to streamline processes, and improving communication channels to decrease resistance to change.

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    ICICI was India's second largest financial institution that underwent major changes in organizational structure and business focus under new CEO KV Kamath in 1996. This included establishing new client groups and business units focused on key sectors. While this rapid change helped grow assets to Rs582 billion, it also created stress within the organization from moving too quickly. Problems included employee discontent, lack of identity for new groups, and rising job dissatisfaction. ICICI addressed these issues by implementing a 360 degree appraisal system, hiring consultants to streamline processes, and improving communication channels to decrease resistance to change.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    5K views12 pages

    Presentation (ICICI Case Study)

    Uploaded by

    Upendra Sachan
    ICICI was India's second largest financial institution that underwent major changes in organizational structure and business focus under new CEO KV Kamath in 1996. This included establishing new client groups and business units focused on key sectors. While this rapid change helped grow assets to Rs582 billion, it also created stress within the organization from moving too quickly. Problems included employee discontent, lack of identity for new groups, and rising job dissatisfaction. ICICI addressed these issues by implementing a 360 degree appraisal system, hiring consultants to streamline processes, and improving communication channels to decrease resistance to change.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 12

    Case Study Analysis

    on
    CHANGE MANAGEMENT in
    ICICI
    Presented by,
    Saurabh Vaish (R130210038)
    Sunil Diwakar (R130210039)
    Syed Mohd Shad (R130210040)
    Upendra Sachan (R130210041)
    Vijay Biloriya (R130210042)
    Vimal Kumar (R130210043)
    Ishan Pathak (R130210045)
    HISTORY
     1955 - Established by the Government of India in as a public
    limited company to promote industrial development in India.
     Major institutional shareholders were the Unit Trust of India (UTI),
    the Life Insurance Corporation of India (LIC) and the General
    Insurance Corporation of India (GIC) and its subsidiaries.
     The basic objectives of the ICICI were to
    • assist in creation, expansion and modernization of enterprises
    • encourage and promote the participation of private capital, both
    internal and external
    • take up the ownership of industrial investment; and
    • expand the investment markets.
     Mid 1980s- ICICI diversified rapidly into areas like merchant
    banking and retailing
    Contd…
     1988- ICICI promoted India's first venture capital company
    – Technology Development and Information Company of
    India Limited (TDICI)
     1992- ICICI tied up with J P Morgan of the US to form an
    investment banking company, ICICI Securities Limited.
     1998- ICICI restructured its business based on the
    recommendations of consultants McKinsey & Co
     2000- Became India second largest financial institution
    with assets worth Rs582billion
     Dec 2000- Merger with Bank of Madurai, leading bank of
    Tamil Nadu.
    INTRODUCTION TO CASE
     Case mainly revolves around the changes brought by K.V
    Kamath after joining.
     In May 1996, K.V. Kamath (Kamath) replaced Narayan
    Vaghul (Vaghul), CEO of India's leading financial services
    company ICICI.
     Immediately after taking charge, Kamath introduced
    massive changes in the organizational structure and the
    emphasis of the organization changed - from a
    development bank mode to that of a market-driven
    financial conglomerate.
     The first move being the creation of
    Infrastructure Group (IIG)
    Oil & Gas group (O&G)

    Contd…
    ICICI set up three new departments:
    Major Client Group (MCG)
    Growth Client Group (GCG) and
    Personal Finance Group (PFG)

    Many other changes took place in later stages ,one


    of the major one was merger with bank of Madurai
    Executive Summary
    India’s 2nd largest financial institution with assets worth Rs582billion and
    serving eight sectors:
    Medium and long term lending
    Investment banking
    Commercial banking
    Venture capital financing
    Consultancy
    Advisory services
    Debenture trusteeship
    Custodial services

    Currently Rs23,000crores turnover strong bank with 1000+branches across


    India.
    Branches available in US, Singapore, Middle-east, Hong Kong, Sri Lanka
    Primary Problems
    • Adoption of new pattern was very fast in nature
    (The systems within the company soon were in a
    state of stress)

    Example:
     The problem of discontentment among employees.
    Formation of specialist group (like structured
    projects and infrastructure group)
    Too soon too fast strategy come under doubtful
    Secondary Problems
    Not a low-cost player
    Not a differentiator in terms of customer service
    • Non-customer centric approach
    • One-stop solutions not available
    Lack of identity after formation of core
    groups(IIG,O&G,PTD and SPG)
    Growing unhappiness between employees
    Rising job-dissatisfaction between MCG & GCG employees
    Irregular PBA(Performance based Appraisal)
    Apprehension of new work culture, uncertainty regarding
    rural business
    Causes of the Problems
    Urge to grow fast, and become the largest in the
    country
    Copy international standards without proper HR
    practices so as to become a world-class entity
    Accountability pressures created lot of stress in human
    relationships
    Slow in completing the employee feedback process
    Alternative Solutions
    360deg appraisal system resulting in much more
    relaxed atmosphere within the company.
    Employing various top-class consultants like
    McKinsey & Co, Hewitt Associates to streamline the
    various processes.
    Addressing employee concern, and working in the
    correct direction to review & solve them.
    Implementation of the Solution
    and Evaluation
    Establishing clear communication channels and
    decrease the resistance to the change
    Training programmes were conducted which
    emphasized on professional development of the
    employee
    Direct dialogues with employee union of BoM
    THANK YOU

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