ICICI Bank

1. Advanced Management
Professor Ignasi CAPDEVILA
Woojin KIM / Charles GUERIN / Emma DIETERLEN
Class 13 / Year 2014-15
Introduction to Management and
Organisations

2. Advanced Management
Professor Ignasi CAPDEVILA
Woojin KIM / Charles GUERIN / Emma DIETERLEN
Class 13 / Year 2014-15
Table of Contents
EXECUTIVE
SUMMARY
1
CH
1:
MANAGEMENT
AND
ORGANISATIONS
2
ICICI
BANK
2
LEADERSHIP
2
CH
2:
GLOBAL
MANAGEMENT
5
GLOBAL
PERSPECTIVE
5
GOING
GLOBAL
6
CH
3:
DIVERSE
WORKFORCE
9
MANAGING
WORKFORCE
DIVERSITY
9
CH
4:
MANAGING
STRATEGY
11
VISION
AND
MISSION
11
SWOT
ANALYSIS
11
PORTER’S
FIVE
FORCES
MODEL
14
COMPETITIVE
STRATEGY
16
CH
5:
CONTEMPORARY
ORGANISATIONAL
DESIGN
17
ORGANISATIONAL
STRUCTURE
17

3. Advanced Management
ICICI Bank
Introduction to Management and Organisations
- 1 -
ICICI Bank is an Indian multinational banking and financial services company headquartered in
Mumbai, Maharashtra, India. As of 2014 it is the second largest bank in India in terms of assets
and market capitalisation.
One of the particularities of the bank is that the CEO is a woman, Chanda Kochhar, in the
country where men lead and women are often regarded as inferior. According to our research,
unlike the tendency that top managers have more conceptual skills, Chanda Kochhar is a particular
female leader who has very strong human skills. However, one of the challenges is due to the
large size of the organisation that Mrs. Kochhar has to face the huge number of employees which
outnumbers 60,000.
Concerning the global perspective, the company adopted a parochialism in the beginning, It is
undeniable that ICICI Bank still has a parochialism attitude, but in a context of globalization ICICI
bank will have a geocentric attitude, which allows them to be stronger and closer to their clients
than they are. Also as a global company, ICICI Bank is conducting a variety of strategic alliances
such as the joint venture. The company’s success can be also attributed to its global mind-set.
Chanda Kochhar has the intellectual and social abilities(capital) to understand how the world
behaves and changes through years.
According to the code of business conduct and ethics of ICICI group, there are fair employment
practices and diversity. ICICI hire all kind of profiles, whatever the age, the gender, the
ethnicity and the religion.
Today ICICI Bank is trying to expand worldwide so it would be growth stage, but also can be
considered stability stage when it comes to Indian local market. Although ICICI Bank is today
planning to expand to rural areas, the company’s main target is those in high-income.
ICICI Bank moto is : « Perfection in power ». Their vision is to be the leading provider of
financial services in India and a global player.
Introduction
Executive Summary

4. Advanced Management
ICICI Bank
Introduction to Management and Organisations
- 2 -
ICICI Bank
ICICI Bank is an Indian multinational banking and financial services company headquartered in
Mumbai, Maharashtra, India. As of 2014 it is the second largest bank in India in terms of assets
and market capitalisation. It offers a wide range of banking products and financial services for
corporate and retail customers through a variety of delivery channels and specialised subsidiaries in
the areas of investment baking, life, non-life insuarance, venture capital and asset management.
The bank has a network of 3,845 branches and 12,012 ATMs in India, and has a presence in 19
countries.1
Today ICICI Bank plans to expand its business overseas by opening 1,500 new branches in 4 years
and recruiting 6,000 people in the fiscal year 2015.2
Leadership
One of the particularities of the bank is that the CEO is a woman, Chanda Kochhar, in the
country where men lead and women are often regarded as inferior.
When Chandra Kochhar took over as CEO and Managing Director of
ICICI Bank in 2009, few expected a radical departure from the
institution’s strategic focus. However, with her bold move to put the
institution’s strategic focus back on the basics, she shas helped steer the
bank safely through crisis.
As the Managing Director and CEO, Kochhar oversees nearly $125
billion in assets and recently announced an 18% increase in profits over
last year. She has been credited with leading a remarkable
1
Wikipedia, https://en.wikipedia.org/wiki/ICICI_Bank
2
Bloomberg Business, http://www.bloomberg.com/research/stocks/snapshot/snapshot.asp?ticker=ICICIBC:IN2
Bloomberg Business, http://www.bloomberg.com/research/stocks/snapshot/snapshot.asp?ticker=ICICIBC:IN
Chapter 1 Management and Organisations

5. Advanced Management
ICICI Bank
Introduction to Management and Organisations
- 3 -
transformation at the firm, which experienced major setbacks after the 2008 financial crisis. Her
focus on “mobile banking” in rural areas to reach more clients has been praised as a model for low
cost expansion in a country with a burgeoning middle class. Kochhar has also been an outspoken
proponent of clearer banking laws from the incoming government led by new Prime Minister
Narendra Modi.3
Qualities
According to our research, unlike the tendency that top managers have more conceptual skills,
Chanda Kochhar is a particular female leader who has very strong human skills.
From the perspective of Mintzberg’s managerial roles, her quality performance in
interpersonal role, especially as a laison in an organisation is one of her big strengths. She is
known as a very good listener. For example, she often brainstorms with employees and discusses
with them for future decisions. For her, listening is not just to absorb, but it’s also to react and
take other opinions into account: “But in making that final decision, you need to be sure you’ve
understood what everyone thinks, not just people in your team, but others outside the
organization too”. This is also linked to her human skills that enable her to work well with other
people.
She tries to travel as much as possible to the regional offices and branches of ICICI Bank to meet
people and incorporate their opinion, their discussion about the strategy. She also regularly
schedules employee discussion meetings, whatever their positions are in the hierarchy. People have
learned that they can speak to her, and they do.
3
Forbes, <The World’s 100 Most Powerful Women>, http://www.forbes.com/profile/chanda-kochhar/
Technical
skills
• As a disturbance
handler
Conceptual
skills
• As a leader
Human skills
• As liason and
disseminator

6. Advanced Management
ICICI Bank
Introduction to Management and Organisations
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Also as a leader, Chanda Kochhar does a lot of communication about the decisions taken, and
about what is happening in the company or in the world that can have an impact on ICICI Bank. She
spends several months just communicating with employees through their own internal media to
reach the larger set of people. In doing so, she expects people to be well informed about what is
going on and she also expects them to give their opinions for the future decisions that can be more
perceptive since they have more information. It shows that she is a very efficient and effective
disseminator doing informational roles. Moreover, she gives a lot of feedbacks to her employees,
so that they can see the result of their decisions, which leads to more job satisfaction for the
employees since they are given “more power”.
Also, as seen in the last financial crisis, Chanda Kochhar is known to be a very good risk
manager and to lead well in a volatile environment. She constantly surveys the horizon to
anticipate the next big change as a disturbance handler in decisional roles.
Finally, she is involved in many tasks, she tries to do things by herself as much as she can, and
she tries to check people’s work, and help them in their task’s achievement. She also takes time to
develop good leaders, not only good managers because according to her, “the success of a
strategy depends on the ability of a team to execute it”.4
Challenges
One of the problems that ICICI Bank and Chanda Kochhar had to face was dealing with customers
during the 2008 crisis. Since ICICI Bank is the most international bank in India, Indian customers,
which is the largest portion of their customers, were very worried about the future of the bank.
They had to make sure not to lose any customer during the crisis by providing them good services
and communicating a lot knowing that “customers are the reason that the organisation exists”.
Another challenge is due to the large size of the organisation that Mrs. Kochhar has to face the
huge number of employees which outnumbers 60,000. She wants to make all employees
participate in decisions but they are too numerous in order to do so efficiently. Asking everyone’s
opinion is in that case a waste of time efficiency and too complicated to do. Hence, she, as a
manager, has to spend significant amounts of time in meeting and dealing with interruptions.
4
Executive Outlook, http://www.executive-outlook.com/chanda-kochhar/

7. Advanced Management
ICICI Bank
Introduction to Management and Organisations
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Global Perspective
Parochialism in Early Days
ICICI bank is an Indian Worldwide bank. Chanda Kochhar has been the head of the bank since
1996. The Indian bank is implanted all over such the United States, the United Kingdom, Canada,
Singapore, Australia, Hong Kong. In the beginning, the company adopted a parochialism. ICICI
needs to think their type of management, which can match, with the European, American or Arab
management without losing their own values.
The interview conducted by MacKinsey&Company underlined the fact that Chanda Kochhar takes
in account people’s point of view. She wants to know employees’ feeling about the work condition,
how they react to face changes and how they behave. The Chief Executive Officer asks to her
managers (In India and also in the rest of the world) to give her feedbacks on their branch, from
employees and especially from customers. After gathering all information, she has the possibility to
decide to adopt a new policy for instance, or she is able to fix the eventual issue somehow by
structuring more the bank.5
Changes towards Geocentric Attitudes
It is undeniable that ICICI Bank still has a parochialism attitude, but in a context of
globalization, the company realised that they needed to think differently. To integrate employees
in the framework is not enough, ICICI bank should take the best of the culture from each country
and to understand how they can use the best of these into their company because the bank has to
be present in many countries and to work with different culture. In the next years, ICICI will have a
geocentric attitude, which allows them to be stronger and closer to their clients than they are.
5
Academia, http://www.academia.edu/5450806/EFFICACY_OF_PERFORMANCE_MANAGEMENT_SYSTEM_AN_EMPIRICAL_STUDY_AT_ICICI_BANK
Chapter 2 Global Management

8. Advanced Management
ICICI Bank
Introduction to Management and Organisations
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Going Global
Type of Organization
ICICI bank can be defined as a global company which centralises management and other
decisions in the home country, India. The bank has branches implanted in 19 countries and has
hundreds of agencies across the world. The decision making process is centralized in headquarter
of Mumbai in India. They gather all feedbacks, information and other data that can be useful and
they analyze it very carefully. Decisions are taken in headquarter and they are approved by Chanda
Kochhar herself. The CEO really wants to have the final word because as she said during an
interview a company needs a leader who can arbitrate with the exact knowledge and skills
required. If many people should make a decision, it will lead to a disaster because they will never
agree and people have always a different way of thinking.
Importing
For a worldwide bank such as ICICI, we could not talk about import and export because banks
generally do not sell a tangible product oversees. However, the bank sells tangible product, that’s
why talking about inflow and outflow is allowed. After analyzing the ICICI’s cash flow statement6
,
the CEO can observe that they have a huge inflow compare to their outflow and this is good news.
A bank that has a higher inflow than outflow means they are making money and they can invest in
order to keep growing.
Joint Venture
Originally, ICICI bank has made a joint venture with the Industrial Credit & Investment
Corporation of India. The merger of these two companies has many interests as followings:
First, these companies will be able to reach two kind of customers: the professional customers
for financing their projects and investments. They will reach particular customers, people needs
housing loans or they can need money for a personal project.
6
ICICI Bank Annual Report 2014, http://www.moneycontrol.com/annual-report/icicibank/ICI02/2014

9. Advanced Management
ICICI Bank
Introduction to Management and Organisations
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Then, a bank is efficient when they have money but the only way to get it is from depositors. To
merge two huge financial institutions leads to have better weight in the world and to attract more
depositors, more clients.
Finally, the merger permits the company to have an international standing and to be more
interesting for foreign investors who need a local bank.
Other Strategic Alliances
One example is the agreement, which has been signed between ICICI bank and the giant
Ecobank. Ecobank is one of the most famous bank in Africa, they are present in 35 countries in
Africa. The partnership took place while the Indian investments in Africa exceeded 33 billions of
dollars in 2011 and it could reach 90 billions of dollars in this year.7
This strategic alliance will
allow them to increase their investments in the continent and to attract more depositors. The key
information in the table below illustrates the financial situation of the bank.
<Performance in the first semester, 2012 of Ecobank Transnational Incorporated>
7
Ecofin Finance, <Ecobank noue une alliance stratégique avec l’indien ICICI Bank>, 2012, http://www.agenceecofin.com/banque/1710-7145-
ecobank-noue-une-alliance-strategique-avec-l-indien-icici-bank

10. Advanced Management
ICICI Bank
Introduction to Management and Organisations
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Global Mindset
Since the nomination of Chanda Kochhar at the head of the ICICI, she has developed the bank
and given to it a better position in the world.
They have implanted an efficient« management system » inside of the company and it has
contributed by defining clarity of goals, by reminding clearly job descriptions, the goal settled are
flexible and they can be adjusted according the economic context.
The implementation of this system is part of the global mind-set. Chanda Kochhar has the
intellectual and social abilities(capital) to understand how the world behaves and changes through
years. She is able to know where the bank should be at the right moment. In addition, ICICI bank is
an open-minded company, they are able to think again what they have done and to are about
create new strategies and new plans for the future, they are not afraid to have experience and
especially international experience. It would be a great psychological capital for the firm. The link
between the employees and the board is strong, as we have understood during the interview,
Chanda Kochhar tends to meet ICICI’s employees as she can according to her timetable.

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ICICI Bank
Introduction to Management and Organisations
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Managing Workforce Diversity
ICICI Bank’s Policy
<ICICI Bank’s Diversity & Inclusion Vision>8
According to the code of business conduct and ethics of ICICI group, there are fair employment
practices and diversity. It ensures diversity of workplace through efforts to recruit, develop and
retain the most talented people from a diverse candidate pool. It upholds the principle that ICICI
Bank advancement is based on talent and performance and there is a commitment to equal
opportunity.
ICICI Group is committed to prohibition of harassment and intimidation of employees in the
workplace. “ICICI Group discourages conduct that implies granting or withholding favours or
8
ICICI Bank official website, http://www.icicibank.com/aboutus/about-us.page
Chapter 3 Diverse Workforce

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ICICI Bank
Introduction to Management and Organisations
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opportunities as a basis for decisions affecting an individual, in return for that individual’s
compliance. Such action is an easier form of harassment to identify because it takes the form of
either a threat or a promise, whether explicit or implied.”
ICICI hire all kind of profiles, whatever the age, the gender, the ethnicity and the religion. For
example, Chanda Kochhar start her career at ICICI Bank when she was very young just after her
graduation, and now she is a senior woman. Moreover, India is a country with many different
ethnicities as the Pashtun, the Tajik, the Hazara, etc, and many different religion as Hinduism,
Islam, etc, and all ICICI’s employees are equal and have different backgrounds. ICICI Bank doesn’t
hire only Indians, but also foreigners. All people are treated equally and have the same percentage
of chance. They judge the performance rather than person itself.
Importance of Workforce Diversity
Managing diversity is so important in following respects:
Therefore using diversity workforce has a lot of advantages. For example, it increases the
quality of problem solving, the creativity, etc. But it also can have some drawbacks if it is not
well-managed and it can lead to some conflicts. In the case of ICICI Bank, the diversity is well-
managed and is benefit for the company. It is one of their biggest strength.
• Diversity is, after all, all about people, both
inside and outside the organisation.
People
Management
• Cost savings inculde reducing employee
turnover, absenteeism, and the chance of
lawsuits.
Organisational
Performance
• Workfoce diversity is a key to extracting the
best talent performance, market share, and
suppliers from a diverse country and world.
Strategic

13. Advanced Management
ICICI Bank
Introduction to Management and Organisations
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Vision and Mission
ICICI Bank moto is : « Perfection in power ». Their vision is to be the leading provider of
financial services in India and a global player.
Their mission is to leverage its people, technology, speed and financial capital to :
Be the banker of first choice for its customers by delivering high quality, world class
products and services.
Expand de frontiers of its business globally and contribute positively the the various
countries and markets in which it operates.
Maintain high standards of governance and ethics.
Create value for its stakeholders.
Its value can be summarised by these sentences: “The most basic of all human needs is the need
to understand and to be understood. The best way to understand your customer is to listen to
him. We listened our customer, we understood and together we keep growing, we continue to
listen.”
SWOT Analysis
After the analysis, we found out that ICICI Bank’s main strengths can be summarised as
following:
- Its talent pool, technology enabled - distribution: from its Indian origins, ICICI is a modern and
use new system and technologies to improve their performance across the world.
- Complete suite structure, extensive customer relationship: the bank has a good relationship
with their customers; they want to be as fast as possible. Their customer is the principal interest
Chapter 4 Managing Strategy

14. Advanced Management
ICICI Bank
Introduction to Management and Organisations
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of the company and tends to do all the best for them.
- Large capital base, strong-brand franchise: ICICI is one of the most powerful banks in the world
with a huge asset of money. Any professionals recognize all over the world the brand name.
- Architecture and universal banking presence: the architecture of the company witnesses the
modernity of this bank and their power. This is a worldwide bank with hundreds of agencies,
which place them in the giant game.
External Analysis
Opportunities
• Banking sector is expected to grow at a rate of 17% in the next three years
• The concept of saving in banks and investing in financial products is increasing in rural areas
as more than 62% percentage of India’s population is still in rural areas.
• Within next four years ICICI bank is planning to open 1500 new branches
• Small and non performing banks can be acquired by ICICI because of its financial strength
• ICICI bank is expected to have 20% credit growth in the coming years.
• ICICI bank has the minimum amount of non performing assets
• Use of technology to penetrate rural markets
• Venturing into countries like Africa where the economy is coming up
Threats
• RBI allowed foreign banks to invest up to 74% in Indian banking
• Government sector banks are in urge of modernizing the capacities to ensure the customers
switching to new age banks are minimized
• It has a lot of competitors
• 3.Inability to adapt to changing conditions due to large size
• It’s an International Bank so it can make local indians worry if there is a world crisis.

15. Advanced Management
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Introduction to Management and Organisations
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Internal Analysis
Strengths
• ICICI is the second largest bank in terms of total assets and market share
• One of the major strength of ICICI bank according to financial analysts is its strong and
transparent balance sheet
• ICICI bank is the first bank in India to introduce complete mobile banking solutions and jewelry
card
• The bank has PAN India presence of around 2,567 branches and 8003 ATM’s
• ICICI bank is the first bank in India to attach life style benefits to banking services for exclusive
purchases and tie-ups with best brands in the industry such as Nakshatra, Asmi, D’damas etc
• ICICI bank has the longest working hours and additional services offering at ATM’s which
attracts customers
• Marketing and advertising strategies of ICICI have good reach compared to other banks in
India
• ICICI bank has a good CEO who cares about people’s opinion. She tries to take into account
their opinion.
• Strong presence via its branches
• High use of technology to make life simpler for the customers
• Large no. of facilities for the customers in terms of products and services
• Over 75,000 employees at ICICI
• Decades of Experience in the Banking sector along with marketing has added to the brand
name
• Presence in over 19 countries
Weaknesses
• Customer support of ICICI section is not performing well in terms of resolving complaints
• The ICICI bank has the most stringent policies in terms of recovering the debts and loans, and
credit payments. They employ third party agency to handle recovery management

16. Advanced Management
ICICI Bank
Introduction to Management and Organisations
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• There are also complaints of customer assault and abuse while recovering and the credit
payment reminders are sent even before the deadlines which annoys the customers
• The bank service charges are comparatively higher
• Too much competition in the banking sector affecting employee and customer management
Porter’s Five Forces Model
Threat of intense segment rivalry
The threat of rivalry in this market is incredibly high for several reasons:
- The main reason is that bank already established are abundant and in contact of globalization, a
customer does not need a local service but an international service. Therefore, it concerns
plenty of banks across the world.
- Furthermore, banks promote many advantages such as the « no fee » at ATM service (cash
withdrawal). The new advantage, which is born lately, is the fact that we can open a bank
account and the bank offers a certain amount of money. For instance, if you open a bank
account, the bank can offer you $100 on this count.
- With the apparition of the online service, the degree of rivalry is higher. All banks have to get a
website. Websites is used as a window-shopping, they put online their product and a customer
can underwrite.
- Thus costumer can switch bank due to the cost. Anyone can compare products each other and
make the decision to close a bank account in their bank for another one. Banks are evaluated to
their ability to offer: if a bank cannot offer as another one, it will lose clients quickly.
Threat of new entrants
This threat is very low for simple reasons:
- We have to bear in mind that creating a bank requires a lot of capitals. This capital is easy to
find and it is hard to find sponsors when we know it is a close market and the rivalry is really
hard.
- Moreover, all the members of the board such as the CEO, CFO, managers, executive managers

17. Advanced Management
ICICI Bank
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and so on have to be checked by the Reserve Bank India. The RBI checked the past of all the
members to want to see if they are serious and loyal. This is a very long process that slows the
creation of banks.9
Threat of substitute Product
The threat of substitute products is high.
Banks do not offer the possibility to keep their money on a secure place but they offer new
products include credit and housing. There are other substitutes known like mutual funds, stocks
(shares), government securities, debentures, gold, real estate and so on. These kinks of product
offer the possibility to have more money in a short term.10
Threat of Buyer’s growing Bargaining Power
The customers of the banks are those who take loans, advances and use services of banks. These
customers have a high bargaining power:
- The huge number of alternatives lead the customer to compare all the financial product about
the price, the interest rate, the risk and at the end he decides which loan is the more
interesting. Banks has to provide the best product at the best price.
- There is no differentiation in financial product; banks offer the same kind of product (loans,
investments, account). Thus, customers have a huge power to influence bank. Customers can ask
to bank another advantage because when he has compared he noticed this bank is more
interesting.
Threat of Suppliers Growing Powers:
The suppliers of banks are depositors, people who have too much money and they want to keep
their money in a secured place. By the way the money grows in their bank account because the
institutions offer them an interest rate. In banking industry suppliers have low bargaining power:
- Suppliers, people, put their money in bank because they do not want to take any risks to lose
their money and they also want a kind of « investment returns » which allow them to have an
9
Micro Finance, http://microfinance-monipran.blogspot.fr/2010/06/porters-five-factor-analysis-to-micro.html
10
Wikiwealth, http://www.wikiwealth.com/five-forces:icicibank

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ICICI Bank
Introduction to Management and Organisations
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income.
- The only way to avoid bank is to buy the substitutes mentioned above such as Treasury bill or
bonds, but these products are riskier and this is not what suppliers want.
- Reserve Bank of India takes all the decision and especially when it is about the interest rates.
They can decide to increase or decrease the interest rate which affects the bargaining power of
suppliers.
Competitive Strategy
Focus Strategy
Today ICICI Bank is trying to expand worldwide so it would be growth stage, but also can be
considered stability stage when it comes to Indian local market. Although ICICI Bank is today
planning to expand to rural areas, the company’s main target is those in high-income. As for its
business strategies, ICICI Bank concentrates on those three:
1) Retail banking – building long term relationship
2) SMEs – strategic partnership
3) Wholesale banking – collaboration for inclusive growth

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Organisational Structure
ICICI bank has one of the most common organizational structures in the world. They have a
functional organization. Under this structure, the organization groups employees according to a
specialization or similar set of roles or tasks. However, it represents some drawbacks: the bank is
not able to react quickly because they are less flexible and this is a huge issue when we know that
the financial market changes rapidly and a bank has to provide answers as fast as possible,
otherwise they will lose clients and in the worst case go bankruptcy.
Strengths
- Skills and the knowledge of employees are grouped in the same department. This organization
enables workers to be a specialist in this field. Workers are recognized for their knowledge and
they are encouraged to follow and to make better. Workers have the possibility to go in-depth.
Employees are in department because of their specialization
- Functional structure allows having an efficient and per formant group. People are expert on the
their field and they can accomplish tasks quickly and minimize mistakes because they know what
they have to do and how. This kind of structure leads to gain in productivity and leads to go
beyond, they can imagine what they will need in the next future.
Weaknesses
- The lack of communication would be a huge issue. In this type of hierarchy, it is not easy to
communicate between departments. People have to deal with a supervisors and it slows the
delay of the decision making-process. Moreover the formalization of the structure makes the
company inflexible. In a globalization context, this is a huge problem. However, the CEO Chanda
Chapter 5 Contemporary Organizational Design

20. Advanced Management
ICICI Bank
Introduction to Management and Organisations
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Kochhar wants to have feedbacks from her employees and to understand what it does not work.
The company tends to reduce this problem step by step.
- This organization presents another problem that is the coordination. Departments do not work
often together and it reduces the flexibility of the company and the innovation. Competitors are
abundant and the company has to think another type of structure, which can allow them to be
more flexible and allow also strengthening the innovation and the speed of the company.
Innovation is a key success for an established bank as them. If ICICI bank wants to attract more
clients and more foreign investors they should be innovative.
Organisational Structure

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