As depicted in the table in post Migrating to N = 1 and R = G: The ICICI Business Model on How to Compete, ICICI has been the first to bring a number of banking and financial services innovations to the Indian market. In 2005, the CEO, K. V. Kamath, announced two major initiatives at the annual meeting to shareholders: Going Global and Going Rural. Since then, ICICI’s increasing global presence in the United Kingdom, Russia, the Middle East, South Africa, Southeast Asia, and Canada has expanded its market of expatriates and international customers globally while at the same time helping to support rural self-help groups and community banks in India and other developing nations. The two initiatives—global and rural—may appear as polar extremes; however, both initiatives, at their core, are based on common capabilities built over the last decade. Continue to read ICICI-Induced Innovations in Financial Services in India
Tags: : business model, Business Logic, Chapter 2: Business Process as an Enabler of Innovation, CK Prahalad, Corporate Portfolio, ICICI Bank, innovation at ICICI Bank, K. V. Kamath, M.S. Krishnan, n=1 & r=g world, new age of innovation, Source of Competitive Advantage, strategic innovation, the new age of innovation, value-based pricing model
