A change in the business world today has become a common process in the world of work often and faster than ever before. The changes in the organization for many reasons such as combining operations or parts or something in the organization, the experience of introducing new technology, new achievements, commercialization and restructuring. The employees have a deep relationship with, workplace organization and work processes. Employees and the organization must adapt its capacity to effect change in the company, as it is key to the resilience of the organization. Change in the organization to learn new things, the ability to change, to manage not only the skills of the staff and the organization and make changes that do not succeed, but also helps to find the human factors. Change is inevitable scenario in the life cycle of the organization, things and processes of institutional changes in such situation. Changes which have occurred if the influence with organization of internal and external drivers or objectives.
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Pages can be simple processes to modify the structure of a system that can cause favourable or unfavourable in the organization are defined. Managing change in organizations is one astute observer study and management of reserves has come. Institutions, the results changed, and not to prevent change in one of the most successful organizations in the market has become. As a result of other organizations are constantly monitored, procedures and structures to improvise their market position. Change is an organization are defined in the scenario to take a different institution of different strategies of managing change with the change after their issues are still in and out before. Managing change in an organization depends on the culture, resources, and personal dynamics of the effects of changes in the organization (Nilanjan Sengupta and S. Bhattacharya, Mousumi, 2006) to enforce.
In this paper, the organization selected for the study of organizational change management at ICICI. ICICI Group, India in the first group of universal banks with a large number of customers worldwide with a range of financial services and retail. ICICI Group offers a full range of products and services in banking, finance, security sector range of clients through special channels, a group of companies and their subsidiaries. They offer their services, private banking investment banking, life and general insurance, asset management and venture capital. This group has been trying to imitate and difficult to maintain a leading position in their respective sectors (ICICI, 2010).
Government of India ICICI has been appointed as one of the company in 1955 to serve the purpose of promoting industrial development in India. The main shareholders are the LIC (Life Insurance Corporation), UTI (Unit Sad India) and NHS (General Insurance India), and various subsidiaries. Government of India, the Development Loan Fund, Axis, the World Bank in India and several other companies for a loan on the equity ICIC vertical.
The main purpose of the ICICI Group as follows:
Help the organization in touch, and modernize the company's criteria.
Promote a number of private investors in the capital to join the organization internally and externally.
Maintain possession of industrial hemp, and consequently the development of the investment market.
Of these operations are owned by 80-ICICI and services in some areas such as retail, business banking has been encouraging and following years, the company's first credit rating in India are extended (Shwetaswarn, 2009).
This can be changed in the organization because there are many factors that affect business processes. These factor both internally and externally, in some situations. Several factors lead change in the organization as follows:
The adoption of new technologies
Profit falls, etc.
Among all the factors of some important factors that lead to changes in the organization of globalization, technologies, new merger and acquisition of new technologies (Chris Luebkeman, 2006).
ICICI is one of the company's sensitivity to rapid changes in the organization in India. It is above all the plans for development on the grounds that, as expected, to bring the challenge in the near future and the potential problems facing the management changes. But not with the results of this organization is known that the success of managing and controlling the problem by appointing staff Kamanth actions (Robert Kreitner & Mamata Mohapatra, 2008).. ICICI has suffered from internal problems to organizational change. Internal problems must be the main driver of changes in the organization. Changes in the organization must be determined by a number of problems and obstacles that the organization goes through during its journey. From the first year of establishing ICICI There are many changes in relation to changes in economic and other subjects that are happening in the market. Some of the ICICI analysis is to determine the driver of changes in the organization. The organization has been in-sell and cross-sell products and services aggressively going to the second largest bank and the institution. In its 90-in security and financial sectors with the joint venture is one of the organizations known as JP Morgan is the same setup of the Company Asset Management. This are all early stage of development, but occurs in the following years, several trade unions, and joint force for the organization. ICICI is one of the leading private sector organizations, products and services in different sectors to clients, a reputation for innovation, financial strength and culture, including a general. All these features of the organization are to embrace change in organizations. SWOT Analysis of ICICI will feature some of the objects, which in turn is driving change in ICICI.
Always on Time
Marked to Standard
SWOT analysis is conducted, organizational strengths and weaknesses, opportunities and risks that, development organization that is used to estimate the potential impact of aggressive companies are analyzed. This process allows the organization to the strategy is accepted and recognized standards in their markets. This will help the organization to build their strategies for overcoming some mistakes in the government. This SWOT Analysis of ICICI Bank will be made to understand the strengths, weaknesses, opportunities and threats, the organization may change because of this restriction is to be analyzed.
Name Tag: This is one of the most positive point from ICICI. With the trademark of an organization's reputation in the marketplace by providing high quality services to its customers and makes no less than its league rivals.
Large Network: ICICI A number of branches in the country. It has nearly five hundred stores with nearly 1.800 ATMs across India, so the quality of services to clients across the state.
The highest market share: ICICI enjoys the highest market share in the country to 34% ITES and IT in various sectors of United India
Expand product portfolio organization: ICICI offers various services to customers under one roof form, business banking retail banking, investment funds, etc.
After the current account: ICICI Bank is a step forward in the current account of the operation of the many organizations compared to other banks in the country.
Long working hours: ICICI is the only bank I work long hours, 8-8 hours, a key strategy for success.
Department of Finance: ICICI is the only bank, foreign currency services to provide customers with the Treasury (Mahesh. H, 2009).
High transaction costs: the main weakness of ICICI is the high cost compared with the transaction. In India, many organizations rather ICICI Bank for their businesses because they require high transaction costs in the process. They lost a lot of the company's accounts.
Defensive approach to fund loans: ICICI always skeptical approach provides loans and deposits of their customers, who have other disadvantages. According to their policy they cannot borrow ITES and IT organizations with a soft spot in the world of IT.
Focus on high level of customer you should speak only on the mountain quality of their customers and not focus on small customers.
Very poor customer service: ICICI has large white that their customers continue to be poor, despite their rapidly growing customer base.
IT and ITES: ICICI is the future of the market and the large untapped in India in IT and ITES sector.
Dissatisfaction with the existing bank, many institutions in India to dissatisfaction with the banks at this time, it can convert their opportunities in ICICI
Consultation with Small Businesses: How much of the banks to focus on business consulting for small businesses that ICICI to achieve this as an opportunity to all categories of business.
Company bank increased MNC: The Indian government friendly lot of MNC banks are now increasing threat to banks such as ICICI in India. This will certainly increase competition, which in turn leads to potential threats in the market for ICICI.
Development banks nationalized: government grants free and practical significance for a number of nationalized banks in India like SBI, which is considered a serious threat to ICICI as they compete with them.
Customer dissatisfaction: This is the biggest threat and vulnerability ICICI. It was observed that many of the organizations and customers who use the services of ICICI satisfied with the services of ICICI. This should be regarded as a serious problem, and customers are not satisfied by other banks that offer better products and services to their customers (Pravin Patil, 2008).
SWOT analysis is ICICI moment of creation. Some of the weaknesses and threats for the organization will make their way to changes made in the organization.
The drivers of change in ICICI
Customer dissatisfaction and customer service poor.
Atrophy of workers.
Employees rate of inflation.
Pay more attention to high-end customers.
Use technology obsolete.
Greater competition from banks and even the nationalization of banks in India
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Reduction of branches outside India
Some factors that influence organizational change ICICI. From time to establish his ICICI is in many functional areas such as banking and commercial banking for retail sales. ICICI is considered one of the few Indians who responded quickly to changes in the organization. ICICI has a very serious problem of atrophy of employees who are targeted to improve their business processes. In an organization as needed to change their strategies or processes are needed to remove barriers that may prevent or resist change in the organization. These obstacles may be in the form of old policies or perhaps workers who cannot resist the evolution of society. Internal factors have paved the way for other changes in the organization against external factors. KV Kamath appointed at the initial stage of the evolution of the organization. He is one who finds some of the themes of the organization that must be modified to enhance the activity of the organization. After taking responsibility for their situation Kamath made major changes in organizational strategy and structure to shift the focus of the organization of a bank or a development agency to be driven by the company on financial markets.
Key targets for change in ICICI
There are a number of objectives and issues within the organization who was willing to pay ICICI change. The three main problems that have caused a change in the five years of ICICI were atrophy, relationships and lateral recruitment. With the appointment Kamath ICICI has seen many changes in the organization. Kamath noted that workers are wasting affect the work environment. They followed some of the strategies to overcome this problem by following the grading system in the organization. This began of the classification of employees based on their performance in order to prevent workers who are lazy and committed to their work. Before ICICI employee evaluation on a scale of five points was not effective. They changed the process of graduating from a five-point scale ranked according to their performance. This is degree two percent and three percent of workers increased from creation. Is observed even in the organization uses a DOS-based technology as it becomes available from new technologies (KV Kamath, 2005).
Kamath and the process have changed the basis of Oracle to improve business processes in improving the user interface. Other drivers of change within 90 days ICICI rule followed in the business process that was presented by KV Kamath. This rule states that any project or task to be completed within 90 days from the date you start from scratch. This 90-day rule was made by businessmen who started their business in Silicon Valley. The employer shall design, construct and operate the product and has been on the market within 90 days or the race would be lost. This is the strategy that ICICI has taken to complete projects at hand to win the competitive race in this world. When Kamath had attended a seminar in New York, this strategy has attracted decided to implement in the organization. Because of this rule three years ago in a period of six months, able to complete 12 of almost all projects are following the strategy ICICI rule of 90 days. However, this strategy has found a good knowledge of the organization to complete projects in time with the perfect output (KV Kamath, 2005).
Here are some internal factors that have paved the way for changes in the organization over the past 5 years. All these changes are to overcome competition in the Indian market and all higher and lower on the market. These changes have become a source, because some of the challenges of controlling the business processes. Above all these changes ICICI has also been some changes in their operations must be conducted to satisfy customers. ICICI used to be a part in establishing the club development funding which is formed by IFCI, IDBI and ICICI. Due to changes in the financial sector Kamath has decided to do a service to stop ICICI as its customers. Management has decided to deregulate the activities of these institutions must provide all financial services to customers, which was not the scenario of low budget or differentiation. In this scenario begins the first change in the organization were arrested by the creation of O & G (Oil and Gas Group), IIG (Infrastructure Group), DES (Structured Products Group) and DTP (Planning and the Department of Treasury ) for the provision of loans to customers. For food processing to control sections have heard some of these experts for their current employees. Following this process the most talented group offers business centers and the attention given to them over the branches. Because many of these workers have a complaint after being informed by the managers should be in the business group or another is better to leave the organization.
Kurt Lewin model for change in three stages
ICICI has followed some of the strategies and models of change management within the organization. One of the models followed by the organization along with the lines of Kurt Lewin's three stages, this model consists of three stages in the process of managing change within the organization.
Unlock: This is the largest among all the three stages in the model. This step describes the process of preparing for change can occur within the organization. It also explains how to prepare for changes to decide to stay with the situation or go with the changes and exit the comfort zone. Thaw and encourage changes that will occur in the organization is not only ready to face all sorts of results that have occurred on the road to change. In simple terms, is defined as a movement towards the motivation of employees of any strategies or business processes to ensure the full results of the whole fruit.
Movement: Once the organization is ready to move towards change and even willing to explore new opportunities for others and set the direction they need to move forward. This step involves creating a new third party to develop new values, principles which are determined by the change in the organization. Sometimes this may mean changes in structural forms and processes to support the proposal to change the organization.
Re-freeze: If the newly adopted strategies change the core business processes of the organization, changes should be frozen. Some support systems such as the evaluation system to reward, other cultures and sub-systems within the company are being considered to support the acquisition of new functions and actions. The process of re-freezing allows the organization to achieve higher levels of symmetry through the institutionalization of organizational change (D. B. K Srivastava, 2007).
Lewinââ‚¬â„¢s Change Process
Effective change management
During the process of change over the last five years is expected ICICI to solve some of the challenges in this change. Throughout the process of change in any organization, there will be some surprises normal stress, but how he handles stress and makes a difference in perspective towards the management of change within the organization.
ICICI also follow some of the methods as amended by the adoption of a real-time scenario as an example, for parking vehicles. In any organization is change management to try to offer good opportunities for their employees and at the same time, some employees resist change or what they want to go into these areas. These workers will be parking in some areas to remove the barrier to change and let it flow forward because it required. This scenario ICICI has continued to make changes in the organization. They gave the golden handshake for employees who adhere to their fields instead of going with the changes (KV Kamath, 2005).
ICICI has also been some changes in their business processes and infrastructure over the past five years. Management, that some financial services, such as P & G, IIG, etc. to provide one-stop financial services to its customers. But in the process paved the way for this process takes time if you need customer service from different departments at the same time, because the opportunity arose in which customers can switch to other providers. To meet this challenge, due to changes in business processes ICICI have formed other sections of the Personal Finance Group, the largest client group and a group of customers more and more. With the help of these sections require that customers come into contact with the representatives of this group to obtain the services of different departments. Thus by ICICI and the change has been following a policy rule to satisfy customers and at the same time to obtain their services more effectively (Robert Kreitner and Mamata Mohapatra, 2008).
Successful change management
ICICI has not changed much over the last five years. It was a great success in managing change within the organization. Begin to compete with any bank in India to meet their market position. The employing agency has become a major labor organization in your server because of the policies implemented by management. ICICI has improved its market position and offers a variety of products and services to its customers. In recent years, has earned the trust and customer satisfaction after having been absent. Were improvised customer service and some of them in a window? Because it has also changed its technologies in the implementation of certain services by switching to new technologies, as a result of their services are coming fast and easy to use. As a result of these changes ICICI able to reach the position of the last five years and also the confidence to be there on the market in the same situation for the next five years new. Changed their business processes by consolidating some departments in some of their powerful bodies to provide services to all categories of its customers.
Another of the challenges of change management that the organization has suffered as their clientele is more pronounced than before the service provision of various services, because this method if the needs of any customer service three sections which are separated and fresh. This process can lead to times where there is the possibility that customer off to another service provider for the same company. This eventually leads to loss of customers to the organization. These are all challenges and managed by ICICI during the last five years and have become one of the banks leading in India (Michael Useem, 2006).
Change has become a common scenario in today's world that is changing. Changes in the organization, there are many reasons, some processes such as mergers, divisions or departments, etc. and workforce management, even should have a strong desire and ability to change and even resistance to results changes in the organization. The organizational change management has become a key process and must be a detailed investigation, and are managed by the organization. Managing change in business depends not only on him, "but a business process, but also depends on culture, resources and many other factors that show their impact on the organization. Here in this analysis Research Change Management, ICICI Bank was selected as the research institute to study the management of change over the past five years. ICICI main objectives of the organization are to support enterprises in their explanations and the process modernization, promoting some private investors to participate as partners in some of the organization and more. Change can occur in any organization because of certain factors that demand for change. These factors are considered factors change. Drivers of change in the organization are divided into internal and external drivers. Internal factors include changes in leadership, shortage of labor, the application of new technologies and some their internal affairs. Externalities change in government policies, including competition, economic changes and rising cost of infrastructure and raw materials. ICICI is considered one of the banks in India is to respond quickly to changes in the organization. Since its inception there have been many changes in the organization. But over the past five years has taken some steps that have changed their business approach and policies. KV Kamath appointment has changed how the organization's business processes. Over the last five years has taken the exciting action and follow some of the strategies for achieving organizational change and manage change. Rule 90 days, the rental system The basic rule is bound by certain strategies of change management in planning and managing change without affecting the policies of the central bank. ICICI successfully manage change, following a few models that exchange Model Kurt Lewin. Was unable to obtain customer satisfaction with the support of the changes you made in your business processes.