Grit, Guts and Gumption: Driving Change in a State-owned Giant

Rajesh Chakrabarti

Oct 2010 · Penguin UK

About this ebook

This is the story of the carefully planned resurgence of the State Bank of India (SBI) from a laid-back incumbent under threat from private players to a customer-oriented competitive organization that has outperformed rivals despite several constraints. The leadership at SBI succeeded in reshaping perspectives and profitability at the bank, which employs a staggering 200,000 people, not withstanding salary restrictions and regulatory bottlenecks. While the primary thrust was on changing employee attitude towards their own organization and, of course, its customers, the transformation exercise was broad-based encompassing fundamental changes in technology, processes and business-mix alike. In about three years beginning 2006, SBI not only defended its own lair against the siege of younger, leaner, meaner rivals but actually took the battle to the attacker’ domains. SBI’s size and setting make the story an inspiring example to other organizations, particularly in the public sector. Written in a fluid and engaging style, and backed by facts, figures, analysis and anecdotes, the book challenges several stereotypes and dogmas common in today’s management circles.

Ratings and reviews

Superb

About the author

Rajesh Chakrabarti teaches finance at the Indian School of Business, Hyderabad. He has published several scholarly papers in international journals, has authored or edited three books and writes a fortnightly column at the Financial Express. He is regularly quoted in the media, both in India and abroad.