The Assignment on Leading Innovation and Cultural Changes

Running head: LEADING INNOVATION AND CULTURAL CHANGES
Leading Innovation and Cultural Changes
Name of the Student
Name of the University
Author’s Note

1LEADING INNOVATION AND CULTURAL CHANGES
Executive Summary
Industrial and Commercial Bank of Chine Limited is the largest bank in China; and its
management structure, leadership style, organizational culture and growth strategies
have helped it to register good performance over the years. The bank has also
performed well in terms of financial performance perspectives.

2LEADING INNOVATION AND CULTURAL CHANGES
Table of Contents
1. Introduction...............................................................................................................3
2. Literature Review......................................................................................................4
3. Management Structure and Cultural Perspective....................................................6
3.1 Management Structure.......................................................................................6
3.2 Cultural Perspective............................................................................................7
4. Financial Performance..............................................................................................7
5. Leadership and Growth Strategy..............................................................................8
5.1 Leadership..........................................................................................................8
5.2 Growth Strategy..................................................................................................9
6. Theoretical Framework and Its Application..............................................................9
7. Benchmarking and Strategy...................................................................................11
8. Recommendation....................................................................................................12
9. Conclusion and Summary......................................................................................12
10. References...........................................................................................................14

3LEADING INNOVATION AND CULTURAL CHANGES
1. Introduction
Industrial and Commercial Bank of Chine Limited (ICBC) is a multinational
bank in China and it is regarded as the largest bank of the country. ICBC was
established on January 1, 1985 and it went into complete restructuring to a joint-
stock limited company on October 28, 2005 (icbc-ltd.com 2020). ICBC has its name
listed in two major stock exchange; they are Shanghai Stock Exchange and The
Stock Exchange of Hong Kong Limited. ICBC has been able in registering its name
among the leading banks all over the world with the help of its continuous effort and
stable development; and the whole world knows ICBC for its diversified business
structure, excellent customer base, strong capabilities of innovation and market
competitiveness (icbc-ltd.com 2020). The management of ICBC believes that
providing better services is the most important mean to ensuring further business
developments; and thus, it prefers to create value through providing better services
while providing wide-ranging financial products to 7,033 thousands corporate
customers and 607 million personal customer. Another major positive side of ICBC is
the continuous integration of corporate social responsibilities with the assistance of
its development strategy along with its operation as well as management strategies
(icbc-ltd.com 2020). In addition, ICBC has been receiving major recognition in
different aspects such as the promotion of inclusive finance, providing support to the
reduction of poverty, protecting the environment as well as resources and
participating in different public welfare related initiatives and programs. The
management of ICBC always keeps in mind its mission and vision to serve the real
economy with the core business so that the economy of the country can grow. The
bank has been continuously improvising its capability to control and mitigate risks
through undertaking a risk-based approach. Major commitment of ICBC can be seen
in looking for innovation while maintaining the stability of the overall business
operations (icbc-ltd.com 2020).
The main aim of this report is the analysis and evaluation of different aspects
associated with ICBC. There are certain sections of this report. The first section
provides the introduction of ICBC by discussing its operations, industry and other
activities. The next section of the report provides a short literature review on the
associated topics of report such as management structure, corporate culture,
financial performance, leadership strategy of business, growth strategy,