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Reference no. 418-0009-1
Sudhir Naib (Bharatiya Vidya Bhavan's Usha and Lakshmi Mittal Institute of Management); Swati Singh (Bharatiya Vidya Bhavan's Usha and Lakshmi Mittal Institute of Management)
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17 pages
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The case discusses the demonitisation drive that was set in motion by the Prime Minister of India Narendra Modi on 8th November 2016 resulting in the scrapping of notes worth INR15.4 trillion, about 86% of the value of total currency in circulation. The case outlines the objectives stated by the government behind the demonitisation, its planning, implementation as well as the subsequent challenges that emerged. This unprecedented move provides unique opportunities to analyse management of change in such a large scale, the role of leadership in leading change and importance of communication and persuasion in accepting change and changing mind sets. The case analyses questions pertaining to the efficacy of demonitisation as a means for achieving the stated objectives and how the economic, political and social costs of demonitisation which were borne upfront (in the short run) justify the benefits in the long run for the economy and the government.
Learning objectives:
1. To analyse the demonetisation undertaken in November 2016, its objectives, and discuss what could have been done differently. 2. To encourage structured thinking around established principles and theories of management of change. 3. To understand the importance of communication in driving change and changing mind-sets. 4. To deliberate whether leaders are born or made, and recognise differences between charismatic and transformational leader.
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