Bank of Baroda: Leadership Challenges
(6 pages of text)
In 2008, the newly appointed chairman and managing director (CMD) of Bank of Baroda, one of India’s largest public-sector banks, was exploring ways to implement the vision of making the bank one of the most popular and customer-oriented public-sector banks in the country. Under the tenure of the previous CMD, a strong foundation for growth had been built, and subsequently, the bank had made tremendous progress and had been ranked third among its peers. However, the bank continued to suffer from the typical malaise of large public-sector organizations — although change was taking place, the firm was sluggish, inadequately responsive to customers, and using outdated processes and technology. Consequently, the new CMD was faced with the challenge of managing the legacy of his predecessor. To accomplish his goal, he took on the task of reinventing the bank by dispelling the culture of fear and caution that prevailed. Could he make the firm more agile and customer-savvy, while quadrupling revenue?
This case is suitable for undergraduate and graduate courses on change management strategy, change management leadership, and organizational alignment of strategy, structure, and culture. The case can be used to discuss the role of a leader in bringing structural and cultural change in a hierarchical organization. The case can be used to:
Help students understand the role of a leader in building a positive organizational culture and achieving high organizational performance.
Discuss the importance of regular and open communication in managing organizational change.
Finance and Insurance
India, Large, 2008-2009
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