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Managing Transformation

Action Plan Presentation 03-02-2004. Managing Transformation. Structure of Presentation. Objectives of the Program Methodology adopted How far these objectives have been achieved IIM – A flash back ISB Experience How do we relate this to our Bank Business Strategies – Result Orientation

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Managing Transformation

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  1. Action Plan Presentation 03-02-2004 Managing Transformation

  2. Structure of Presentation • Objectives of the Program • Methodology adopted • How far these objectives have been achieved • IIM – A flash back • ISB Experience • How do we relate this to our Bank • Business Strategies – Result Orientation • Support & Changes required

  3. Objectives of the Program Understanding the Best Practices Developing a Mindset to implement them Bringing Result Orientation Moving towards Next practices

  4. Methodology Adopted • Interactive Lecture Sessions • Slide Shows • Case Studies • Group Discussions / Group Dynamics • Reflections by Individuals & Groups • Reflectors • Optimist • Devils Advocate • Seeker • Presenter • Planner • Movies

  5. How far these objectives have been achieved • Where we were before the programme • Unknowing our full potential • Self Centered ( O vs. 1ON ) • Looking to others for guidance • Rigidity in mindset • Felt need for a change without knowing how to change • Where do we think now we are: • Thinking Big • Realizing our full capabilities • Tuned to look for multiple solutions • The need for total transformation – Self and the team • Deliver as a Team – ChangeAgents

  6. IIM Project – A Flash Back • Although input sessions were thought provoking & Energising, it could not produce desired results. • A large number of suggestions received • No ownership - No follow up. • Euphoria created melted

  7. ISB EXPERIENCE

  8. ISB EXPREIENCE • Change Management starts from “SELF”. • WaMu experience – If 100 Year Old Institution can grow fast, why can’t we? • Accelerated growth through Organic and Inorganic growth • Strong capital base – Potential for both • For change Management there must be a learning Agenda.

  9. ISB EXPREIENCE • Multitude of small changes in Architecture, Space, look and feel of retail can bring good results. • Proceed on experiments and retain them if it is liked by the customers • While opening new branches, post sufficient people in advance for doing ground work and conduct a Brand Rally to bring excitement. • Our experiment in Brand Rally while opening Western Railway ATMs can be repeated

  10. ISB EXPREIENCE • Corp Bankers as Change Agents. • Unless broad vision is broken into specific goals and tasks, the process cannot be put in motion • What, How, Who and When to be specific • Identify driving forces and contain restraining factors. • Focus on Skill Building

  11. ISB EXPERIENCE • Create a “Dream vision” and powerfully communicate to keep the excitement going • We must try to inspire than impress • Channelise resources and continuously monitor for achieving milestone Goals • Strategy and tactics are both equally important • Brand as value – Citi Bank case. • From no-where, our Brand is ranked one among top fifty. We must improve upon it by proper positioning and enliving the Brand • I am the One - Matrix Movie experience. • Corp- Bankers - Be a Master practitioner with passion. • It is not important what happens to us is important but how we react to is important • We must manage with more of EQ and less of IQ

  12. ISB EXPERIENCE • Know the path and walk it. • Emotions created to be sustained - through Change Agents and support system. • Mindset Change has multiplier effect - Be a centre of Change. • When there is a crisis, we tend to go back to the original behaviour pattern • Transformation should not be momentary but should become a momentum • All of us together can achieve much higher than any one of us individually.

  13. ISB EXPERIENCE • CRM – an ultimate tool for acquiring, retaining and providing service differentiation. Weed out non profitable customers. • Our Top 100 Customers - Right way to begin with. • Update master data and implement core banking for CRM • Bagger Vance and Junnah’s – Complementary roles. Rediscover authentic swings. • Role change – “ Fire fighters and Captain” – Experience – facilitate Juniors to become leaders.

  14. ISB EXPERIENCE • The Butterfly experience – the story of Stripe and Yellow. • Have a Butterfly Vision and motivate others. • Everyone has a capability to build their cocoon and transform themselves to become Butterfly.

  15. ISB EXPERIENCE • Deepak Chandra’s interaction helped us to identify the gap between our perception about the customer service and the customer perception about it. • We can introduce better benchmarking and service audit to ensure and improve Customer Service • Korean story of selecting a future emperor based on his capabilities to hear the Unheard taught us the ability to listen to unexpressed Customer Complaints is the need of the hour • The Dalai Lama’s action in pouring tea into the overflowing cup indicate the inability to absorb new things unless you shed the irrelevant past.

  16. ISB EXPREIENCE • Every Day, we will make it a point to acknowledge and appreciate, one each in the family / society and office. • Appreciation should be timely, grounded, short and specific. • Let go our negative emotions. • Apoligise for any outbursts and adopt a mid course correction • Each one of us has a Fatal Flaw / Core-incompetency. Identify and address.

  17. Leaders – A Self Rating Exercise • Vision, Communication and Inspiration – Leadership traits. • Like a passionate stone cutter, we must have a vision of building a Cathedral. • We as “ Leaders “ – Self rating exercise - Just averages. • Each one should think as CEO to fill Vision Gap • Future is to be created. We must be willing to give up, as a Leader • We must develop not only good “Feed Back” system but also good “Feed Forward” System • Feed Forward is important because We can change the future but not the past. Feed Forward helps people envision and focus on a positive future.

  18. Communication • Be a good listener to become a good leader. • People will listen to emotions and not content • Powerful communication is not useful unless it get the accomplishment • Assume / Assign SIX ROLES before taking decision .

  19. Change Formula Change = Dissatisfaction with Current Status X Vision for future X First step > Resistance (Where none of the values are zero)

  20. As a Presenter-How effective we are • Our mock presentation revealed that we are not focussed. • We are not effective in communication. • What we communicate and what is heard is different. • We must align our thoughts like a Symphony • Each one should assume all the six roles before taking any major decisions

  21. How do we relate this to our Bank • Accelerated growth is essential under the present scenario to retain our identity. • Structural, Procedural, Systemic, Product and Attitudinal Changes are required to achieve the targeted growth • Innovation is key for success • Customer Centric Approach • Open mind – Helps to explore new avenues • Growth through Organic / Inorganic means

  22. Corporate Goal Where are we Where we want to go

  23. Why accelerated Growth? • Presently a mid-size Bank • Being sound, a ready target for acquisition • Consolidation of Banks is in the offing • Future is for Big Players Hence, we need to grow at faster pace, consolidate and retain our identity

  24. Credit

  25. Accelerated Credit Growth- Milestone Approach Specialised / Identified Branches to play a Key Role (Rs. In Crores)

  26. OUR VISION FOR CREDIT NET BANK CREDIT (RS. IN CRORE) • NOW 11,800 • 90 days from now 15,000 • BY 31.3.2005 22,000 • BY 31.3.2006 30,000 [100% GROWTH BETWEEN 31.3.04 TO 31.3.06]

  27. Accelerated Credit Growth- Our Strategies • Short list targetted borrowal accounts, particularly mid corporates – update and follow up on ongoing basis • Leverage CAPs Connections on package basis • Effective use of customer referral system – utilising NRI connections for lending to related projects in India • Explore possibilities of taking over term loans / NCDs of existing clients from other Banks / Institutions • Follow up with SFCs / Term Lending Institutions for working capital finance (MOU) • Ensuring utilization of large sanctioned but unutilised limits by offering LIBOR / MIBOR / CP related rates and extending interest rebate – (Revive, Regain and Retain)

  28. Strategies – Contd. • Focus on bulk lending to • Institutions / PSUs • Large Corporates • Infrastructure Sectors • Other Potential Sectors such as Automobiles, Steel, Cement etc. • Continued Focus on Retail lending & SME Segments

  29. RESOURCE MOBILISATION

  30. PROJECTIONS (Rs. in crore)

  31. Action Points • Current Accounts: • Corpclassic facility to select clients • Full authority to BMs to extend service charge concession • Cash pick up facility to High Value A/cs • CAPs clients to be targeted • Leveraging LIC/NIA MOU • Dealers Net work Account to be garnered • Liasoning with RBI for shifting Govt Accounts.

  32. Savings Bank • Clientele expansion by mass contacts – salary accounts under Corp Pay Roll • Revival of dormant accounts • Conducting camps at ATM locations • Opening NRI cells at key branches – offering 0.50% rebate on Corp Vidya & Home loans to NRIs • Wealth Management Services – to NRIs and High Networth clients • Cross border remittances • Canvass LIC policy holders’ accounts through LIC Agents • New Delivery channels and services - Debit Card, Any Time premium payment through ATMs shall be exploited

  33. Other Strategies • Open new branches at all potential centres • Upgrade potential ECs to branches • Outsourcing for account opening, clearing, cash pick up & remittances • Opening of representative offices in Middle East • Tie-up with more number of exchange houses and correspondent banks • Dedicated desk for Govt. business at key branches • Setting up call centres at select cities • Our strong branch network should be offered to other banks under tie-up (A CAPS project) • Technology up gradation – IBAS, DB package

  34. HRD INITIATIVES

  35. HRD Initiatives • Rationalisation of Manpower – From Surplus to Needy Pockets • Placement – Right Persons for Right Jobs - more so for key branches/positions • Placement of Branch / Zonal Heads on higher pedestral – to make these positions attractive • Role Clarity - at all levels • Identification, Grooming and Career Development of Specialist Officers • Knowledge Management – Attain and Retain talents • Performance cum Productivity linked incentives – Special Recognition for milestone achievers • Annual Leave Plan by Employees / Officers – Leave Management • VRS / Sabbatical Leave

  36. HRD initiatives • Promotion of Special Assistants and Senior Clerks to Officer’s Cadre. • Improve Age Profile by direct recruitment • Fast track promotion at all levels • Outsourcing - Premises Maintenance, Clearing related activities, Cash Pick Up. • Periodical Interface with Second Line Officers- Zonal level on Role Clarity • Products and Services Orientation for front-line staff – Re-orientation in training curriculum • Timely availability of Law Officer’s Services to Credit oriented Branches • Dress Code in Metros to start with • Due consideration of Branch Manager’s recommendation in Staff Placement • Define and strengthen Man Power Structure of Key Branches • Best practices prevailing in the industry to be introduced

  37. Personal Agenda • Share your Dream • Keep the excitement going • Multiply leaders • Delegate & Empower • Constant Co-ordination with Peers – in the Region & Outside • Create your own Brand – Others to Associate/Emulate

  38. Conclusion • Change or transformation is inevitable for Organisation • We need to create requisite capabilities to implement change • Our ability to take risks will determine the future of the Bank as well as our own • Leadership is highly demanding and once we move step by step and enjoy the journey towards achieving goals, it is easier to accomplish the task • We need to start a new movement – a movement which brings revolutionary change in our attitude and in our performance

  39. Conclusion • Today is the first day for the rest of our life. • If not we – Who? • If not now- When?

  40. THANK YOU

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