Publications
Publications
- January 2025
- HBS Case Collection
Davivienda Bank's Upskilling and Reskilling Strategy in Colombia (Abridged)
By: Jorge Tamayo, Raffaella Sadun and Jenyfeer Martinez Buitrago
Abstract
Set in 2022, this abridged case examines the digital transformation strategy of Davivienda—a leading player in Colombia’s commercial banking sector and one of the companies belonging to Grupo Bolívar, a major Colombian conglomerate—and the bank’s upskilling and reskilling programs adopted to support that process. To keep pace with rapidly changing industry demands while maintaining its strong cultural values, Davivienda implemented upskilling programs to help employees refine existing skill sets and reskilling initiatives to prepare them for new roles. However, as competition intensified and technological shifts accelerated, the bank’s leadership faced a critical challenge: how to balance strategic agility with its commitment to employee development. As Executive Chairman and CEO of Grupo Bolívar, Miguel Cortés, and Davivienda’s CEO, Javier Suárez, prepared to assess the long-term sustainability of these programs, they grappled with a pressing question—should the bank prioritize strategic objectives even if it meant reevaluating some cultural principles?
Keywords
Change Management; Transformation; Decision Choices and Conditions; Digital Strategy; Digital Transformation; Internet and the Web; Mobile and Wireless Technology; Innovation and Management; Innovation Strategy; Growth and Development Strategy; Business Strategy; Corporate Strategy; Talent and Talent Management; Training; Organizational Culture; Banking Industry; Latin America; Central America; South America; Colombia
Citation
Tamayo, Jorge, Raffaella Sadun, and Jenyfeer Martinez Buitrago. "Davivienda Bank's Upskilling and Reskilling Strategy in Colombia (Abridged)." Harvard Business School Case 725-428, January 2025.