Leadership Lessons-Straight from the Heart

Turnaround Strategy

This is the story of transformation of a territory named Victoria Europe. It was a dead territory and was not performing for the last 28 years. It is all about the turnaround strategy adopted by Vikram. The territory was totally transformed during a tenure of four years, where the total business increased four times, advances increased twelve times, profit increased approximately 10 times, market share doubled, Staff salary revised twice and more than doubled. Banks image improved a lot and the bank became the bank of first choice. People started saying in the market that if you want fast, go to Bobby, if you want good advice, go to Bobbys CEO, if you want hassle free loan, go to Bobby. It explains the process from the start. How he involved his staff, how the team was motivated and how he created passion among his team members. It tells about the family background of Vikram, his personal life in childhood, economic position of the family, agriculture processes being adopted by his father during his childhood. His working in the bank at various levels; from very junior position to Chief Executive of a foreign territory . SWOT analysis done before devising his strategy; Image building strategy, marketing strategy, motivation and morale boosting strategy, Net working and liaisoning with high profile people, arranging various functions, press conferences, inviting and managing the visits of top executives from Head office, reporting of performance and interpretation of data. It is a practical guide to learn various management tips. Learning from the chapter have been given in bullet points before each chapter as points to ponder.