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Case Analysis Of Bank Of America: Mobile Banking

1193 words - 5 pages

International Management II (Core Competencies)

Case Study Bank of America (A)

by
Alexander Beil
Christoph Hillgärtner
Florian Schlegelmilch

Harvard Case Study: Bank of America

List of Contents
1.

Introduction / Definitions

2.

Overview “Bank of America”

3.

Product development processes

4.

Strength and weaknesses of the systems

5.

Learning through experimentation

6.

Conclusion / Learnings

7.

Summary

8.

Questions for group discussion

9.

References

1

Harvard Case Study: Bank of America

1. Introduction / Definitions
Description of the case study “Bank of America (A)” *
The case study describes how Bank of America is ...view middle of the document...

Introduction / Definitions
Innovation: Innovation is the implementation of a new or significantly improved idea, good,
service, process or practice which is intended to be useful. Scholars who have studied
innovation generally differentiate among four main types of innovation1
Experiments: An experiment is a set of actions and observations, performed to support or
falsify a hypothesis or research concerning phenomena. The experiment is a cornerstone in
the empirical approach to knowledge.1
Test: A session in which a product or piece of equipment is placed under everyday and/or
extreme conditions and is examined for its durability, etc.2
Learning: Learning is the process of acquiring knowledge, skills, attitudes, or values, through
study, experience, or teaching, that causes a change of behavior that is persistent,
measurable, and specified or allows an individual to formulate a new mental construct or revise
a prior mental construct (conceptual knowledge such as attitudes or values).1
1 Reference:
2 Reference:

www.en.wikipedia.org
www.en.wiktionary.org

Harvard Case Study: Bank of America

2. Overview “Bank of America”
Organization
Until relatively recently, Bank of America had never made innovation a priority. It lacked
any formal infrastructure for developing new ideas. However, recognizing several years
ago that it needed to improve its innovation performance, the bank decided to create a
new corporate unit called the innovation and development (I&D) team.1
Exhibit 4: Section of Bank of America´s
Organizational Chart2

Ken Lewis CEO

Consumer/Commercial Bank

Quality & Productivity
(Milton Jones)

Innovation (Amy Brady)
(Waren Butler)
1Reference:
2Reference:

www.bcg.com/publications/files/Profitable_Innovation_in_Financial_Services_Apr04_FS_OfA.pdf
Stefan Thomke, Case study Bank of America (A), p. 17

3

Harvard Case Study: Bank of America

2. Overview “Bank of America”
Culture
Core values of Bank of America:1

Doing the right thing. Each of us has the freedom, authority, and responsibility to do the
right thing for our clients, customers, communities — and each other.

Trusting and teamwork. We rely on each other and succeed together. We take collective
responsibility for the quality of client and customer experiences.

Inclusive meritocracy. We care about each other, focus on results and strive to help all
associates develop their full potential. We respect and value each other's differences.

Winning. We have a passion for achieving results and winning — for our clients and
customers, for our teammates and communities and for our shareholders.

Leadership. We're decisive leaders at every level, communicating our vision and taking
action to help build a better future.

Management
To run the processes effectively Lewis (CEO )was to consult several outside executives what they
considered to be “best management practice”.2
1Reference:
2Reference:
...

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