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bank, banking, book, book review, Business transformation, change management, organization transformation, sbi, sbi bank
Book Title: Grit, Guts and Gumption
Sub-title: Driving change in a State-owned giant
Author: Rajesh Chakrabarti
Pages: 234 pages
Genre: Business transformation/ Organization transformation/ Change Management/ Banking/ Financial institution/ Public sector
Year of Publication: 2010
Publisher: Penguin books
Why you should read this book?
This book tells the story of how State Bank of India (SBI) was transformed and reinvented. In 2006, SBI was still the largest bank in the Indian banking system, but this near-monopoly position was threatened by new private banks such as ICICI and HDFC that offered new revolutionary banking services along with great customer service. SBI was losing market share, failed to attract new customers due to its shoddy service quality, and was way behind, compared to its competitors, in the incorporation of technology in modern banking. The turnaround of the 200 year old bank was made possible under the leadership of Om Prakash Bhatt, newly appointed chairman of SBI in 2006, in a short time of 4 years. This book is a great learning to understand a successful business transformation and change management of people, technology and business processes of a 200 year old bank with 200,000 employees despite the challenges plaguing a public sector enterprise.
Book Rating
★★★★★/5
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