Change Management @ ICICI

Presented By: Group 5 Section C

Sanjeev D - 16162
Saurabh Kumar Ravi - 16163
Saurav Rakshit - 16164
Shivramkrishna - 16165
Shruti Adapa -16166
Shubhang Tripathi - 16167
Sohail S - 16168
Spoorthi G - 16169
Sumanth J Kamath - 16170
 Established Equity of
Major shareholders
1955 corporation
Unit Trust of India The world Bank
Life insurance The Development
corporation Loan Fund
General Insurance UK Government
Vision: To become an Corporation of India IDBI
universal Bank.
Objective:

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
During mid 1980s ICICI diversified rapidly into areas like merchant
banking and retailing.
Issues in ICICI
IIG
One basic product O&G
PTD
Neither cost leadership nor service differentiation SPG

Talent shift to corporate sector

Alienation of Zonal officers
Issue
Dissatisfaction among GCG s
Succession planning MCG Merger
GCG with BOM

Pay Equity
Segregation of competing divisions
Accountability
Issues post merger
Staff Strength
Large differences in profile, grades, designation ,salaries and working
culture
Fear of increased productivity
Overall profitability vs profit centers
Ambiguity on rural branches
Closer scrutiny
Solution
Too fast too soon
Implementing change fairly
Selecting people who accept change
Coercion
Manipulation and Cooptation
Participation
Lewins Three-Step Change Model- Unfreezing, move and refreezing
Theoretical application
Planned Change - Improving the ability of the organization to adapt to
changes in its environment
KV Kamath along with Hewitt associates were the change agent
Sources of Resistance to Change