CULTURE TRANSFORMATION: LESSONS FROM BANK MANDIRI AND BANK BRI

Abstract

This research aims at exploring organizational culture in state owned enterprises; Bank
Mandiri and Bank BRI, and its contribution to financial performance, before and after
restructuring/initial public offering (IPO). The research used qualitative approach with case
study method that used coupled with exploratory and descriptive design, supported by
successive approximation of technical data analysis. Eight propositions were raised from the
findings regarding: (1) integration human resources planning with corporate plan, (2) skill
development accommodating individual, organizational and business needs, (3) effective
strategy aligned with appropriate system and proper business orientation, (4) suitable
organizational structure with internal and external business environment, (5) system
development oriented to customer satisfaction, (6) proper style of leadership that affects
organizational culture and financial performance, (7) implementation of organizational culture
in increasing corporate performance, and (8) consistency in socializing and implementing
corporate culture.
Keywords: state owned enterprises, organizational culture, restructuring/IPO, successive
approximation, proposition.