McKinsey PLUS MANAGERIAL TRANSFORMATION MODEL IN THE PHASE OF NEW NORMAL: EVIDENCE FROM BANK MANDIRI SYARIAH INDONESIA

Abstract

Aim: This research aimed to find the model of banking managerial transformation and business
strategy in the new normal phase.
Methodology: This research applied a qualitative approach and a mono case study design by
conducting in-depth interviews with the managers, supervisors, and stakeholders combined with
observation. The resulted data then were compared to the data taken from the document. The data
were in the form of primary and secondary data. The informants were selected by applying purposive
followed by snowball sampling method. The analysis was based on Mckinsey and House of Strategy
models.
Finding: The result showed that this research could formulate a new managerial transformation model
known as McKinsey Plus Model (Strategy, Structure, System, Staff, Style, Share Value, and Skill +
Spirituality at work). Most of the previous research merely identified the 7S model formulated by
McKinsey. Furthermore, this research also found House of Sharia as a new business strategy
developed based on the existing House of Strategy model.
Conclusion: This research found that including spiritual elements in managerial transformation and
business strategy models made sharia Mandiri bank survive. It helped the Bank make a profit more
than expected in the new normal era.