“Every business Is a digital business, But some just don’t know it yet”,

says Nitin Rakesh, CEO of Bangalore, India-based IT firm Mphasis, in this

Knowledge@Wharton Podcast.
He explores the change in retail banking/brokerage, insurance & real estate business…
Two of my friends reported recently
1. Retail Bank: ‘ I voluntarily downgraded by ‘premium’ category of wealth management with my bank to ‘cattle class, after a series of ordinary customer service experiences’. For eg., I wanted a simple statement for my IT returns, neither the call centers (both wealth management & cattle class), the RM and the branch were unable to “help”. He tapped into the his good-old-jugad, got the statement immeditely. ‘Suddenly I got multiple calls…, even from bankers who were not responding to my calls….’ says the friend.  
2. Brokerage: When I asked my so-called ‘Relationship manager’ on the status of my PMS, she said, ‘I can help you with it. But you can look up online too….’
At this rate, the customer will embrace digital option, instead of facing the so called ‘relationship’ managers (not leaders, for sure). We stopped going to bank-teller counters long back…
– Leadership Vs managerial skills – ‘Leadership is timeless, not changed since times immemorial. Skills are same, time horizon has shrunk. Vision alignment’
– ‘Leadership is a contact sport’
– Management by vision, over & above MBO
 
Definition of Success: Every stakeholder should be able to experience the growth. Growth in four dimensions:
1. Consistent,
2. Differentiated,
3. Profitable, and
4. Inclusive
 
Listen to podcast:
https://itunes.apple.com/in/podcast/knowledge-wharton/id120724941?mt=2&i=1000390824562
Related Posts
50 DaysChallenge, Manifest Magic 2020

9 Months of Covid19 We have got so caught up with our day to day life, we have forgotten to Read more

Building the Phoenix Mindset- A Regal Global Webinar: Karan Kumar

Regal Unlimited invited Prof Paddy Padmanabhan, a distinguished INSEAD Professor and co-author of the book, “The Phoenix Encounter Method” for Read more

Alibaba IPO – Dinosaur or Phoenix?

Money lending -> Banking -> Fintech -> Alibaba: where am I, here & now? I started my career with the Read more

Leadership & Life lessons from Ramayan, Mahabharatha #1- Dussehra, Sri Rama, Ravana, Lust

Dussehra marks the triumph of Sri Rama over the 10-headed demon king Ravana, who abducted Rama’s wife, Mother Sita. Dussehra Read more