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State Bank of India - Essay Example

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State bank of India (SBI) is considered to be the biggest bank in India in relation to customer base, though it is not the best. In 2006, SBI chairman contended that, in order for the bank to move from the view of being the biggest bank to the view of the bank being the best, there as a need to reconsider changing the leadership pattern…
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State Bank of India
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Download file to see previous pages In fact, after five years of deliberations, the chairman reflected bank’s achievements on the attribute of positive attitude regained by leadership thought. This opened up avenues through which the chairman shifted the focus to start aiming at being among the top twenty banks in the world. With such deliberations, the concern is on how the bank has been performing, what contributed to its advancements, the challenges it met along the journey, the opportunities available, its current weaknesses, and the potential it has in order to go to higher horizons. In light with this, the following section will evaluate on the current bank’s situation. This will give an insight and overview of the potential that the bank has in terms of advancing or deteriorating (Samuelson 1980). SBI profile: the primary internal and external influences on State Bank of India One theory that can be put into the context of explaining the primary internal and external influences on state bank is theory of planed behavior. This theory can be applicable in explaining why, for example, people have a perception the SBI is a good bank. It takes several strategic measures for the internal management of the bank to put incentives that change the view of customers in relation to services offered by the bank. In order for employees to be able to perform well in their duties, they need to have a good attitude towards both the organisation and the customers. In essence, theory of planned behavior argues that, the attitude toward a behavior changes individual behavioral intentions (Ajzen 2007). In this regard, due to good employee incentives offered by the bank, employees are able to have a positive attitude towards the bank, something that results in top performance. In addition, organisation and management theory argues that organisations must understand both internal and external factors in order to succeed in their business. This can be analyzed to be the case in SBI. For example, on his reflection of the journey, in 2011, the chairman admitted that the bank has been the largest commercial bank in India. According to the chairman, this has been a journey full of transformations, which focused on changing its hierarchy, transaction orientation, customer focus, government ownership, and change of technological advancement, which has made it to be a universal bank. After Bhatt took over its leadership, he talked of transforming the leadership of SBI in order to propel it further. By 2010, SBI had doubled its profits and regained market share, something that led to the bank being awarded the ‘achievement award’ for the strongest bank in the Asian pacific region. In this regard, it is apparent that the change of leadership exhibited by Bhatt was very instrumental in taking the bank to new levels (Rust and Zahorik 1993). Therefore, analytically, it can be argued that apart from adopting all necessary technology and other strategies in business, leadership plays an indispensable role in development of any organisation (Yeung, Ging and Ennew 2002). By 2011, SBI was 43rd largest bank in the world taking a capitalization of over $ 36.5 billion in. By that time, SBI had more than 267,000 employees and with 18,000 branches and 25,000 ATMs. In this year, it made profits of $ 2.6 billion. However, the journey of SBI has been a long one since its establishment in 1806. Some years down the line, the bank was granted the right to issue currency; something updated it into the status of a presidency bank. At that time, the bank was partly owned by the government and part by private individuals. One of the parties that have had influence on ...Download file to see next pagesRead More
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