McKinsey 7S Framework of HDFC Bank 

HDFC Bank is a financial service-providing Indian banking company. The Housing Development Finance Corporation founded its subsidiary brand HDFC Bank in 1994. Today, we’ll discuss the McKinsey 7S framework of HDFC Bank as the 7S framework in strategic management and change management; strategy, structure, system, staff, skill, style, and shared values.

Products and Services of HDFC Bank

• Insurance and finance
• Commercial banking
• Consumer Banking
• Wealth Management
• Private Equity
• Private Banking
• Credit Cards
• Retail Loan
• Mortgage Loan
• Investment Banking

Subsidiary brands of HDFC Bank

• HDFC Mutual Funds
• Asset Management Company HDFC
• Securities HDFC
• Services Limited
• HDFC Credila Financials
• ERGO HDFC
• HDFC Life
• HDB Financial Services

Statistical facts and figures of HDFC Bank

• HDFC Bank’s annual revenue in 2023 was 26 billion US dollars
• Out of which, the net profit and income of the company was 5.8 billion US dollars
• Employed Approximately 177000 employees to manage its operations

Top competitors of HDFC Bank

• Bank Bazaar
• HDFC Ltd
• Kotak Investment Advisor Ltd
• State Bank of India
• BillDesk
• ICICI Bank Limited
• Axis Banking Limited
• Dhanlaxmi Bank
• Citi Bank

The McKinsey 7S framework of HDFC Bank would analyze the elements of the 7S framework in strategic management and change management; strategy, structure, system, staff, skill, style, and shared values. Here’s HDFC Bank McKinsey 7S framework as McKinsey 7S model with Example Company as follows;

McKinsey 7S Framework of HDFC Bank 

Let’s discuss the McKinsey 7S framework of HDFC Bank as 7S framework in strategic management and change management or McKinsey 7S model with Example Company; they’re as follows;

Strategy of HDFC Bank

Some of the main elements of HDFC Bank’s organizational strategy is one of the main elements of the 7S framework in strategic and change management in the McKinsey 7S model with example as follows;

I-Innovative Products & Services

HDFC Bank has established a unique position in the market by offering innovative financial products and services; home loans are among one them. The bank allows customers to return the loan at a fixed interest rate in the next 20 years. When the bank introduced this offer, it was a game changer in the Indian financial market, it allowed customers a stable and predictable repayment plan.

II-Tech-based Approach

HDFC Bank allocated a significant amount of capital resources to technological development and became the first bank in the Indian market. The tech-based strategic approach allowed the company to offer efficient customer service. However, some of the main tech services that the company offers are as follows;

• Online account opening
• Mobile banking
• Internet banking

III-Customer Focused

HDFC Bank follows the customer-focused strategy by doing everything centering on facilitating customers. In fact, the bank’s business model focuses on satisfying the needs and demands of customers. As a result, the bank has established a very strong database of loyal customers.

Structure of HDFC Bank

Some of the main elements of HDFC Bank’s organizational structure are the key elements of the 7S framework in strategic and change management in the McKinsey 7S model with example as follows;

I-Corporate Structure

HDFC Bank has established a very large network across India and other countries. In order to effectively manage corporate financial resources, the bank has divided its corporate structure into four areas and they’re as follows;

• Treasury
• Retail banking
• Wholesale banking
• Other banking businesses

Some of the main designations and positions in the HDFC bank are as follows;

• Chairman
• Independent director
• Executive director
• Deputy managing director
• Non-independent director
• Managing director
• Chief executive officer

System of HDFC Bank

Some of the main elements of HDFC Bank’s organizational system is one of the main elements of the 7S framework in strategic and change management in the McKinsey 7S model with example as follows;

I-Multiple Operational Systems

In order to smoothly conduct daily routine operations, HDFC Bank employs multiple systems and approaches to make sure that everything works out as planned. Some of the main systems that the bank employs are as follows;

• Digital payment system for online transactions
• Security system to protect the private data of the company and users
• ERP system to effectively manage its supply chain network and digital resources
• Management information system
• Information system analysis

Staff HDFC Bank

HDFC Bank has a very large network of employees comprising over 177000 employees. The bank offers careers both for fresh graduates and experienced bankers. However, the bank claims that it has the highest level of motivated staff and the lowest employee turnover rate. It means that the bank is offering career growth opportunities to its employees with a happy workplace environment.

Skill of HDFC Bank

HDFC Bank regularly conducts training programs to update the skills and expertise of its employees and workers. The bank also offers training programs to improve the skills of other people in rural areas to generate their income. However, the objective is to create jobs at the local level and stop the migration into the big cities.

• Agriculture skills and other relevant practices
• Communication skill
• Capacity building
• Multiple Tailor skills and competency-building
• On-job training and placement

Style of HDFC Bank

HDFC Bank has established a cooperative and collaborative workplace environment, where employees comfortably perform their roles and jobs. The leadership style of the bank is to achieve sustainable goals and objectives as designed by the United Nations. However, the bank focuses on decreasing poverty by 2030, so that people can live happily.

Shared Values of HDFC Bank

The mission and vision of HDFC Bank is to become a world-class bank in the Indian financial market. The bank has the following goals and objectives;

• Become the top provider of banking and financial services to the retail and wholesale customers
• Achieving and maintaining a healthy profitable growth rate relevant to the banking risk rate
• Complying with the regulatory authority
• Maintaining the highest standard and level of corporate governance, professional integrity, and ethical standards

The philosophy of HDFC Bank is to keep up with the following core values;

• Sustainability
• People
• Product Leadership
• Customer focus
• Excellence

Conclusion: HDFC Bank McKinsey 7S Framework in Strategic Management |McKinsey 7S Model with Example Company 

After an in-depth study of the McKinsey 7S framework of HDFC Bank; we have realized that HDFC Bank is the leading Indian bank. If you are learning about the HDFC bank McKinsey 7S framework in strategic management and change management; then you should keep in mind the abovementioned strategy, structure, system, style, staff, skill, and shared values of McKinsey 7S model with Example Company.