O p bhatt


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O p bhatt

  1. 1. Organization Design, Change and Transformation Change Maestro Om Prakash Bhatt Ex-Chairman State Bank of India Presented By Abhinav Gupta (11BM60015) Jaya Prakash Jain (11BM60033) Vivek Kumar (11BM60040) Manish Gupta (11BM60100) Harsh Kr. Srivastava (11BM60122)
  2. 2. Why O. P. Bhatt??? <ul><li>SBI - Before Chairman Bhatt </li></ul><ul><li>In the early 1970s, SBI had about a 35 percent market share, but that had fallen to about 15 percent in 2006.  </li></ul><ul><li>SBI had lost its voice and its influence in the economic sphere </li></ul><ul><li>Employees were not energized – lack of goals, vision and commitment </li></ul><ul><li>Obsolete IT infrastructure led to customer declination. </li></ul><ul><li>After Bhatt assumed the Chairmanship in 2006 </li></ul><ul><li>In 2007, SBI was rated the best bank in India in terms of customer service, brand loyalty, and branch strength. </li></ul><ul><li>In January 2008, SBI became numero uno bank in India in terms of market cap, overtaking ICICI Bank. </li></ul><ul><li>SBI is country’s 5th largest company in terms of market cap, from 14 th in 2006. </li></ul><ul><li>Internationally, SBI has entered the Fortune Global 500. </li></ul>
  3. 3. Strategies for Communicating Change <ul><li>Held a conclave of top 25 managers; started the 5 day conclave with showing movie ‘The Legend of Bagger Vance’, telling mythological stories- Emotional Mode of Communication </li></ul><ul><li>Conclave led to 14 point agenda which was converted into presentation and communicated to 10000 branch managers in small groups- Tell and Sell </li></ul><ul><li>Had a meet with 30 senior representatives from the unions and officers’ associations to discuss upon mutual support for the welfare of both bank and its employees- Underscore and Explore </li></ul><ul><li>In groups of 50 to 100, met with the assistant general managers in conversations where the primary role was to listen to their perceptions of the bank, its issues, and what they thought bank should be doing- Identify and Reply </li></ul>
  4. 4. Skills for Communicating Change <ul><li>During conclave showed desire to learn from the experiences of the senior managers to do the right things with taking everyone along, showed willingness to get feedback and dissent from others- Listening </li></ul><ul><li>Started the conclave with showing movie, bringing in stories from Bhagavad Gita; tried to draw parallels between the movie, the Gita, the condition of SBI, and the mind-set of its officers- Telling Stories </li></ul><ul><li>Stopped voluntary retirement scheme to retain the skilled employees, improved the IT infrastructure and shuffled the top management immediately as a measure of crisis management to improve SBI’s reputation and market cap– Crisis management and corporate reputation </li></ul>
  5. 5. Consolidating Change <ul><li>Started the training program Parivartan  which brought new energy across the bank—more pride, more involvement, and more joy. Created three new verticals in the bank (treasury, rural business group and corporate strategy and new business)  - Redesigning Roles </li></ul><ul><li>SBI has been gaining a few basis points in market cap each quarter. He did not push his employees for faster growth which might have negative impacts. – Be realistic about the pace of change </li></ul><ul><li>Kept on conducting meetings with low level managers on a regular basis to know their concerns and ideas and acting based on the information to materialize the vision- Act consistently with advocated actions </li></ul>
  6. 6. Dreams Yet to Achieve <ul><li>Stand tall among the top banks in the world.  </li></ul><ul><li>Balance sheet to show at least 25% international business. </li></ul><ul><li>Be available to every Indian, from the poorest of the poor to the richest of the rich, to both individuals and institutions.  </li></ul><ul><li>Instilling in employees a sense of service for India Inc. along with self-development, evolution, and excellence in life. </li></ul>