Event

EiP 2014 Webinar - Promsvyazbank & Chicago Booth School of Business

Hosted by: EFMD

The event will start on: 27 Nov 14 11:00
And will end on: 27 Nov 14 12:30

Location: web-based,
Contact:


From 12:00pm to 1:30pm CET (Paris time).

If not familiar with Webex, please make sure you connect 15 minutes prior to the session.

Theme
“NEXT – A stepping stone towards a new leadership style”

Description

In 2011, Promsvyazbank (PSB) was dealing with the pains of growing at a high pace for the first 15 years of its existence as well as increasing competition from Russian state and international banks. With superior leadership, marketing and more cohesive strategies, state and international competitors appeared nearly impenetrable. PSB sought to gain traction on its competitors through a change in organizational culture, which top executives believed would inspire managers to grow within the organization. The initiative was named New Experience Time (NEXT) and was overseen by Chicago Booth faculty and the PSB Corporate University. It consisted of two separate but linked modular programs, designed to address the desired change.

Targets for the initiative were ambitious, as it needed to drive change throughout the entire organization over a short timeframe. NEXT was run in London over a series of modules intended to create a new strategy for the bank, improve leadership capabilities and develop the bank’s marketing capabilities.

The impact of the NEXT initiative was significantly enhanced by a mentorship scheme. Two teams were established, one to oversee and assist the other, forming the basis for the mentorship program, which has outlasted this initiative. The impact was also amplified by the purposeful dissemination of new knowledge and practices in the organization - the 86 participating executives reached out to more than 1,000 employees through a variety of means.

NEXT helped change attitudes within the bank. A participatory management style, capacity to build relationships and influence others are prime examples and are now part of the bank’s competencies framework. Additionally, signs of a new culture had started showing themselves less than two years into this initiative. References to ‘NEXT’ and ‘non-NEXT’ style are now common.

The NEXT initiative continues to develop new projects aimed at streamlining processes that help people transition from a ‘start-up mentality’ to working in a more complex and maturing organization after a period of rapid growth. In 2014 it is still going strong, and building more momentum for change. It is expected that the Corporate University, put in place to coordinate the NEXT programs, will become a mainstay of the company and drive continuous improvement within the bank for years to come, a key part of the new culture.

In this session, Oxana Martynova and Eugenia Patriniche will share their success stories and also point out some of the interesting challenges they came across during these last 4 years.

Attendees are encouraged to read the full case prior to the webinar.

EIP gold2014-LR-new
Promsvyazbank (PSB) & Chicago Booth School of Business were granted the Gold Award in the EFMD Excellence in Practice Award 2014 in the category of ‘Executive Development’.

Speakers

  • Oxana Martynova, Head of Corporate University, Promsvyazbank (Russia)
  • Eugenia Patriniche, Director for Corporate Development EMEA, University of Chicago, Booth School of Business (UK)

This session will be moderated by Jan Ginneberge.

Target Group
This webinar is dedicated to both companies and L&D providers (Business Schools, Executive Education Centers / Consultancies).  

Registration
Attendance is free but requires registration before 26 November

Number of participants is limited. Priority will be offered to EFMD member organisations.
Follow the registration process (under “upcoming” live sessions): https://efmd.webex.com

Contact
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T +32 2 629 08 37