Harvard Case - Abelli and Saviotti at Banca Commerciale Italiana (A)
"Abelli and Saviotti at Banca Commerciale Italiana (A)" Harvard business case study is written by Tiziana Casciaro, Kathleen L. McGinn, Massimiliano Belingheri. It deals with the challenges in the field of Organizational Behavior. The case study is 23 page(s) long and it was first published on : Jan 11, 2002
At Fern Fort University, we recommend a comprehensive approach to address the challenges faced by Abelli and Saviotti at Banca Commerciale Italiana (BCI). This approach involves a multi-pronged strategy focusing on organizational culture, leadership development, talent management, and communication. The goal is to foster a collaborative and innovative environment, empower employees, and drive BCI towards a more customer-centric and agile future.
2. Background
This case study focuses on the challenges faced by Abelli and Saviotti, two senior executives at BCI, as they navigate a rapidly changing banking landscape. BCI, a large Italian bank, is grappling with increased competition, technological disruption, and a need to adapt its organizational culture to meet the evolving needs of its customers. The case highlights the complexities of leadership styles, organizational change, and communication in a large and established institution.
The main protagonists are:
- Abelli: A seasoned executive with a strong focus on financial performance and a traditional management style.
- Saviotti: A younger, more innovative leader who champions customer-centricity and digital transformation.
3. Analysis of the Case Study
The case study presents a classic example of organizational inertia and the challenges of implementing change management within a large, established institution. Several key issues emerge:
- Clash of Cultures: BCI's traditional, hierarchical culture clashes with the need for agility and innovation. This is exemplified by the resistance to Saviotti's initiatives and the lack of collaboration between departments.
- Leadership Styles: Abelli's command-and-control approach and Saviotti's more collaborative style create tension and hinder effective decision-making.
- Communication Breakdown: The lack of clear communication and transparency regarding the strategic direction of BCI fuels uncertainty and mistrust among employees.
- Talent Management: BCI struggles to attract and retain top talent, particularly in areas like technology and digital innovation.
Applying the 7S Framework:
The 7S Framework provides a useful lens for analyzing the case:
- Strategy: BCI needs to develop a clear and compelling strategy that embraces digital transformation and customer-centricity.
- Structure: The current hierarchical structure hinders collaboration and innovation. A more agile and decentralized structure is needed.
- Systems: BCI's systems and processes are outdated and need to be modernized to support the new strategy.
- Shared Values: The current culture prioritizes stability and hierarchy over innovation and customer focus. This needs to change.
- Skills: BCI lacks the necessary skills in areas like data analytics, digital marketing, and customer experience.
- Staff: BCI needs to attract and retain top talent to drive innovation and change.
- Style: The leadership style needs to evolve from command-and-control to a more collaborative and empowering approach.
4. Recommendations
1. Foster a Culture of Innovation and Collaboration:
- Leadership Development: Provide leadership training for all executives, focusing on collaborative leadership, change management, and communication skills. Encourage cross-functional collaboration and team building exercises.
- Organizational Culture Change: Implement a comprehensive culture change initiative that emphasizes customer-centricity, innovation, and collaboration. This could involve workshops, communication campaigns, and recognition programs.
- Empowerment: Empower employees to take ownership of their work and contribute to the strategic direction of BCI. Encourage experimentation and risk-taking within a defined framework.
2. Strengthen Talent Management:
- Hiring and Recruitment: Implement a more proactive approach to attracting and retaining top talent, particularly in areas like technology, data analytics, and customer experience. This could involve competitive compensation packages, flexible work arrangements, and career development opportunities.
- Talent Development: Invest in employee training and development programs to equip employees with the skills needed to thrive in a digital environment. This could include online courses, mentorship programs, and internal training initiatives.
- Diversity and Inclusion: Promote a more diverse and inclusive workplace to foster a broader range of perspectives and ideas. This could involve implementing diversity hiring initiatives and creating a more inclusive work environment.
3. Enhance Communication and Transparency:
- Clear Communication: Establish clear and consistent communication channels to ensure that employees are informed about the strategic direction of BCI and the changes taking place. This could involve regular town hall meetings, internal newsletters, and online communication platforms.
- Transparency: Be transparent about the challenges and opportunities faced by BCI, and involve employees in the decision-making process. This could involve soliciting feedback, conducting surveys, and creating open forums for discussion.
4. Leverage Technology and Analytics:
- Digital Transformation: Invest in technology and analytics to improve customer experience, streamline operations, and gain insights into market trends. This could involve implementing CRM systems, data analytics platforms, and digital marketing tools.
- Innovation Hub: Establish an innovation hub within BCI to foster experimentation, collaboration, and the development of new products and services. This could involve bringing in external experts, hosting hackathons, and providing funding for innovative projects.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of the case study, considering the following factors:
- Core Competencies and Consistency with Mission: The recommendations align with BCI's core competencies in financial services while embracing the need for innovation and customer-centricity.
- External Customers and Internal Clients: The recommendations aim to improve customer experience and employee engagement, fostering a win-win scenario.
- Competitors: The recommendations consider the competitive landscape and aim to position BCI as a leader in the digital banking space.
- Attractiveness: The recommendations are expected to yield positive returns in terms of increased customer satisfaction, improved employee engagement, and enhanced financial performance.
6. Conclusion
BCI faces significant challenges in adapting to the rapidly changing banking landscape. By embracing a culture of innovation, investing in talent, and prioritizing communication and transparency, BCI can overcome these challenges and emerge as a leader in the digital banking space.
7. Discussion
Alternative options not selected include:
- Mergers and Acquisitions: BCI could consider acquiring smaller, more agile fintech companies to gain access to new technologies and talent. However, this option carries significant risks and may not be feasible in the current economic climate.
- Outsourcing: BCI could outsource certain functions to external providers, such as technology development or customer service. This option could reduce costs but may lead to a loss of control and expertise.
Key Assumptions:
- The recommendations assume that BCI's leadership team is committed to change and willing to invest in the necessary resources.
- The recommendations assume that employees are receptive to change and willing to embrace new ways of working.
8. Next Steps
Timeline:
- Month 1: Conduct a comprehensive assessment of BCI's current culture, leadership style, and talent pool.
- Month 2: Develop a detailed plan for implementing the recommended changes, including specific initiatives, timelines, and resource allocation.
- Month 3: Begin implementing the culture change initiative, leadership development programs, and talent management strategies.
- Month 6: Evaluate the progress of the implementation plan and make adjustments as needed.
- Year 1: Measure the impact of the changes on customer satisfaction, employee engagement, and financial performance.
Key Milestones:
- Launch of a new communication strategy: To ensure transparency and open dialogue.
- Implementation of a leadership development program: To foster collaborative leadership and change management skills.
- Establishment of an innovation hub: To encourage experimentation and the development of new products and services.
By taking these steps, BCI can transform itself into a more agile, innovative, and customer-centric organization, ensuring its continued success in the digital age.
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Case Description
In 1999, a powerful struggle amidst complex corporate and interpersonal networks led to the failed merger between Banca Commerciale Italiana and Unicredito Italiano--two of Italy's largest banking groups. This case analyzes the actions of Abelli and Saviotti, co-CEOs of Banca Commerciale Italiana at that time, as well as those of central players in Banca d'Italia, Mediobanca, and several prominent national and international banking and industrial groups. The events shed light on the management of multilayered resource dependencies and tactics of political influence as a critical precondition for implementing sound business strategy.
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