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In early 2022, Sunmark Bank (SB), a UAE-based bank operating across multiple regions, appointed 35-year-old Mark Jonathan as Group CEO to address declining performance and lead a critical transformation. Jonathan faced significant challenges, including an 8% annual loss, entrenched resistance from senior management, and outdated practices that stifled innovation. The bank's traditional, branch-focused model was increasingly misaligned with the growing demand for digital and customer-centric services. Additionally, SB struggled with a lack of diversity and inclusion, with a male-dominated workforce and outdated hiring practices that hindered talent acquisition. Jonathan's mandate was to overcome these barriers, drive a cultural shift, modernize operations, and refocus on customer needs to restore the bank's competitiveness in a rapidly changing financial landscape.
Learning Objectives
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Understand the challenges of implementing organizational change in a traditional, resistant culture.
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Analyze the role of leadership in driving transformation and fostering a performance-based culture.
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Explore the impact of outdated organizational values and autocratic leadership on business performance.
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Assess the importance of diversity and inclusion in enhancing organizational adaptability and innovation.
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Develop a comprehensive change management plan that aligns with modern market demands and customer- centric strategies.
Pub Date:
Sep 10, 2024
Discipline:
Organizational Behavior
Subjects:
Change management, Diversity and inclusion, Leadership, Organizational structure and design, Organizational transformation, Profitability
Source:
Indian School of Business
Product #:
ISB438-PDF-ENG
Industry:
Financial service sector
Geography:
India
Length:
05 page(s)
₹399.00