ICICI Group and Wharton Launch Landmark Program in India to Develop Global Leaders
Indian companies eager to build leadership capabilities for global markets are investing in high-level executive education programs such as a new Leadership Development Program, designed by the Wharton School for senior managers of the ICICI Group. The custom program was delivered by Wharton faculty for the first time in October at the company's training center outside Mumbai.
"We were looking for opportunities to work
with the best faculty in the world, who were eager to learn from India
and then shape learning for our promising executives."
The
intensive, eight-day program for nearly 60 senior executives of India's
second-largest bank demonstrates the increasing sophistication of executive
development in India and the growing presence of Wharton Executive
Education there. "Indian companies, especially more progressive
ones such as ICICI, have very advanced learning and development internally," said
Sandhya Karpe, senior director at Wharton Executive Education. With a
presence in 17 countries, ICICI Group has been named among the top 20
companies in the world for leadership development in a recent ranking
by Fortune magazine. "Indian companies are now looking
to take their executive education to the next level," Karpe said.
Shaping the Next Generation of ICICI Leaders
The new program has the strong support and involvement of ICICI's top leaders. "We were looking for opportunities to work with the best faculty in the world, who were eager to learn from India and then shape learning for our promising executives. I would like to compliment Wharton, which was the first to take the opportunity to design and deliver a program that dealt with the challenges which leaders on the doorstep of senior positions face," said K. Ramkumar, group chief human resources officer of ICICI.
The Wharton program offered executives new business knowledge and global insights, crucial to ICICI's rapid global expansion. "The Wharton program has enhanced my understanding of business trends from a global perspective," said Shakil Khan, deputy general manager of ICICI Bank. "It is one of the finest that I have attended."
Simulation Sharpens Key Leadership Skills
One of the distinctive aspects of the program was a computer simulation designed by Wharton faculty to model the complex business and organizational challenges facing today's business leaders. During the simulation, executives make strategic decisions about negotiating resources, managing change, cultivating relationships with customers, and developing strategic alliances. They also work on maximizing the contributions of their own team members, and receive feedback on their decisions.
"The economic world is changing rapidly," said Rita McGlone, senior director at Wharton Executive Education. "Leaders are required to develop and implement strategies that incorporate diverse teams, perspectives, and locations. The simulation is custom designed by Wharton faculty to ensure that it models the challenges facing these leaders."
Wharton's Integral Role at ICICI
The Leadership Development Program is expected to be an integral part of the company's overall executive development process. The initiative also has added to Wharton's knowledge of the Indian market. "While we have offered shorter programs in India in the past, this was the first time we delivered an extended program there," Karpe said. "It was a powerful organizational learning experience for us."
