Subject category:
Production and Operations Management
Published by:
Harvard Business Publishing
Version: 28 October 2002
Length: 21 pages
Data source: Field research
Abstract
Describes how Bank of America is creating a system for product and service innovation in its retail banking business. Emphasis is placed on the role of experimentation in some two-dozen real-life "laboratories" that serve as fully operating banking branches and as sites for testing new ideas and concepts. Focuses on: 1) how learning from experimentation can be maximized; 2) incentive and reward systems that motivate employees to experiment in 'life' environments; and 3) the challenges of managing innovation in an industry that eschews risks, failure, and change.
Location:
Industries:
Size:
USD20 billion revenues, 140,000 employees
Other setting(s):
2002
Subject category:
Production and Operations Management
Published by:
Harvard Business Publishing
Version: 13 March 2003
Length: 16 pages
Spanish language
Subject category:
Production and Operations Management
Published by:
Harvard Business Publishing
Version: 28 October 2002
Revision date: 3-May-2019
Length: 25 pages
Data source: Field research
Subject category:
Production and Operations Management
Published by:
Harvard Business Publishing
Version: 28 October 2002
Length: 1 pages
Data source: Field research
About
Abstract
Describes how Bank of America is creating a system for product and service innovation in its retail banking business. Emphasis is placed on the role of experimentation in some two-dozen real-life "laboratories" that serve as fully operating banking branches and as sites for testing new ideas and concepts. Focuses on: 1) how learning from experimentation can be maximized; 2) incentive and reward systems that motivate employees to experiment in 'life' environments; and 3) the challenges of managing innovation in an industry that eschews risks, failure, and change.
Settings
Location:
Industries:
Size:
USD20 billion revenues, 140,000 employees
Other setting(s):
2002
Related
Subject category:
Production and Operations Management
Published by:
Harvard Business Publishing
Version: 13 March 2003
Length: 16 pages
Subject category:
Production and Operations Management
Published by:
Harvard Business Publishing
Version: 28 October 2002
Revision date: 3-May-2019
Length: 25 pages
Data source: Field research
Subject category:
Production and Operations Management
Published by:
Harvard Business Publishing
Version: 28 October 2002
Length: 1 pages
Data source: Field research