IDFC was set up in the year 1997 to streamline private funding to infrastructure projects in India. Over the years, it extended the capabilities to eventually become a 'complete solutions provider' offering financing alternatives including debt and equity, investment banking, brokerage and asset management services to clients in the infrastructure sector. There were significant cultural differences inside the organization with almost 50% of its workers joining through acquisitions. The company embarked on a journey to construct 'One-Firm' using a unifying culture and governing system across business groups.
Maximize interactions using its customers, increase its competitive standing and IDFC planned to provide seamless access to products and expertise across business groups. A critical component of the One-Firm initiative was a technology aligned these with the general performance of IDFC, and empowered performance management system that pronounced metrics for group and individual performance. While the new system had several strengths, it also raised questions on whether a common system permitted IDFC retain and to recognize talent across its varied businesses. This case examines in case a uniform performance management system provided flexibility and autonomy needed to develop a culture of high performance across varied business groups.
PUBLICATION DATE: May 23, 2014 PRODUCT #: 114077-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
