Hard elements are easier to define or identify and management can directly influence them: These are strategy statements; organization charts and reporting lines; and formal processes and IT systems. Soft elements, on the other hand, can be more difficult to describe, and are less tangible and more influenced by culture. However, these soft elements are as important as the hard elements if the organization is going to be successful.
Applying the McKinsey 7S model to ICICI BANK.
1)Starting with shared values as it is the backbone of all other S.The foundation of ICICI Bank is core principles of trust, professional capability, and honesty of purpose. The highest level of professional integrity is what differentiates the ICICI Banker from the rest. Above Figure represents the fundamental values on which ICICI BANK built on. 2)Systems: Very early on ICICI BANK identified technology as the key differentiator that could put a large distance between itself and its competition .We have successfully used the technology medium to create the scale and process ability to support our ambitions. With benchmark productivity quality standards created , we seek to touch new frontiers as we expand geographically. Builds structures, systems and processes to support the strategy Can separate productive processes from redundant ones
Sets personal example in driving quality for achieving world-class service delivery Focuses on productivity as a business lever
Knows what to measure and how to measure it
Leverages technology as a force multiplier
3)Styles: The constantly dynamic environment in which we operate creates a fast paced and challenging work atmosphere for each...