Book contents
- Frontmatter
- Contents
- List of exhibits
- Preface
- Acknowledgments
- Part I An integrative framework for leading strategic and organizational change
- Part II Leading strategic change in actual organizations
- 4 Leading strategic and organizational change at Countrywide Financial Corporation
- 5 Leading change at Starbucks Coffee Company
- 6 Strategic marketing through HR interventions: a case study of Indian Oil Corporation
- 7 The evolution of Stan Tashman and Associates
- 8 Leading strategic and organizational change at IndyMac Bank
- 9 Leading strategic and organizational change at Infogix
- 10 Leading strategic and organizational change: the transformation of structure at Pardee Homes
- 11 Leading strategic and organizational change at Tata Steel: the role of culture
- 12 Leading strategic and organizational change at Westfield: transformation to a global enterprise
- Part III Leading strategic change: lessons learned from practice
- Appendix: References for further reading on leading change
- Index
8 - Leading strategic and organizational change at IndyMac Bank
from Part II - Leading strategic change in actual organizations
Published online by Cambridge University Press: 22 September 2009
- Frontmatter
- Contents
- List of exhibits
- Preface
- Acknowledgments
- Part I An integrative framework for leading strategic and organizational change
- Part II Leading strategic change in actual organizations
- 4 Leading strategic and organizational change at Countrywide Financial Corporation
- 5 Leading change at Starbucks Coffee Company
- 6 Strategic marketing through HR interventions: a case study of Indian Oil Corporation
- 7 The evolution of Stan Tashman and Associates
- 8 Leading strategic and organizational change at IndyMac Bank
- 9 Leading strategic and organizational change at Infogix
- 10 Leading strategic and organizational change: the transformation of structure at Pardee Homes
- 11 Leading strategic and organizational change at Tata Steel: the role of culture
- 12 Leading strategic and organizational change at Westfield: transformation to a global enterprise
- Part III Leading strategic change: lessons learned from practice
- Appendix: References for further reading on leading change
- Index
Summary
Introduction
In 2003 IndyMac Bank, a public company, was ranked nineteenth in volume among mortgage originators in the United States. While this position reflected a substantial rate of growth in assets, revenues, and employees over a ten-year span, executive management realized that the company could be vulnerable to both smaller and larger competitors at its current size. This chapter describes how senior management implemented a planning process that enabled executive management to revise the business vision and a culture management process that enhanced competitive effectiveness. It also shows how IndyMac Bank completed the transformation from an entrepreneurship type of company to an entrepreneurially oriented, professionally managed organization.
Company overview
IndyMac Bancorp, Inc., is the holding company for IndyMac Bank F.S.B. (known as Indymac Bank®). In 2006 IndyMac Bank was the largest savings and loan in Los Angeles and the seventh largest mortgage originator in the United States. The company is listed on the New York Stock Exchange (NYSE) as IMB. Through its hybrid thrift/mortgage bank business model, IndyMac is in the business of providing cost-efficient financing for the acquisition, development, and improvement of single-family homes. IndyMac also provides financing secured by single-family homes and other banking products to facilitate consumers' personal financial goals.
Early beginnings
Founded in 1985 as a real estate investment trust (REIT) known as IndyMac Mortgage Holdings, Inc., IndyMac began as a conduit for Countrywide Mortgage Investments, Inc.
- Type
- Chapter
- Information
- Leading Strategic ChangeBridging Theory and Practice, pp. 136 - 154Publisher: Cambridge University PressPrint publication year: 2008