Describes how Bank of America is the creation of innovative products and services in the retail banking business. Special attention is paid to the role of the experiment in some two dozen real-life "laboratory" that serve as a fully operational bank branches and as sites for testing new ideas and concepts. Focused on: 1) how learning from the experiments can be increased, 2) incentives and reward systems that motivate employees to experiment in "living" environment, and 3) the problems of management innovation in the industry, which avoids the risk, failure and change. "Hide
by Stefan Thomke, Ashok Nimgade Source: Harvard Business School 21 pages. Publication Date: September 17, 2002. Prod. #: 603022-PDF-ENG
Related Case Solutions & Analyses:
Rudy Wong Investment Advisor
Finning International Inc.: Management Systems in 2009
Minding the Supply Savings Gaps
Mapping the Future in Uncertain Times
Decisions by Design: Stop Deciding Start Designing
Cesar Zanchet and Adezan: Different Kind of Leadership
Personal Selling and Sales Management
Reputation in Online Auctions: The Market for Trust
O.M. Scott & Sons Co. Leveraged Buyout
Euroleague Basketball: The Challenges of Growing a New League
