Transformation is essentially a collaborative endeavour of the top management and therefore it is critical that the entire team at the top owns it up and become evangelists of transformation. This alignment in the top team is very crucial. Not everyone in the top team is enthusiastic for changes. Differences within the top team must be sorted out through a process of dialogues and discussions and consensus should be developed on the broad approach to transformation.

 

The CEO and the other enthusiastic members of the top team have to be a part of a core team to speak to different stakeholders to share the vision for transformation and the cost of not undertaking it. In large organizations with legacy problems, it requires prodigious efforts of the CEO and his team to prepare internal stakeholders for not only to align with the vision of transformation but also to be an active participant of facilitating transformation and be prepared to undergo the pangs of the change process.

 

This is not a one-time effort but an on-going process during the transformation phase. The top team has also to create the infrastructure for training and learning that may be necessitated on account of new initiatives. New learning and an innovative culture are necessary to excite and engage people about the future of the organization.

 

In our transformation journey (Chapter 12), we constructively engaged the top team through the system of daily morning meetings, which set the tone for vigorously pursuing the mammoth transformation agenda we had on our plate. Our morning meetings through intensive engagement of the top team created a new vision for the bank to double the business size in 3 years and retain the leadership spot in the public-sector banking space. Thankfully, we achieved this vision and leapfrogged to the top spot.

 

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