Harvard Business Review

NOVEMBER 2, 2011

Take Bank of America. One customer was sufficiently enraged to gather 200,000 signatures asking the bank to reverse its decision. Yesterday, the bank announced plans to do just that. The other misstep Bank of America made was miscalculating whether their competitors would follow. There were howls of protest. We grumble.

Case Study 11

Case Study Banking Airlines Competitive Advantage 11

Strategy Driven

JANUARY 21, 2011

Peter Turney, CEO of Cost Technology, suggests using activity-based management techniques to recognize which business activities and which customers are causing a drain on your bottom line. With that understanding, focus on how you will continuously recycle resources from invention to deployment, management, offloading and back.

Real Estate 66

Real Estate Magazine Rogers Long-term 66

Harvard Business Review

JANUARY 16, 2018

Using data from Twitter (where one of us works), we designed an experiment to study customer service interactions in two industries that generate a significant number of customer service complaints: airlines and wireless carriers. This extra $9 can be thought of as incremental brand value the airline has gained in the customer’s mind.

Wireless 11

Wireless Airlines Brand Loyalty 11

Harvard Business Review

SEPTEMBER 23, 2014

In the weeks and months that followed, the senior management team and I made a number of major decisions about the company’s future. As a team, I observed, we were busy doing things and making changes, all of which made sense to us as managers. Can I, on the fingers of one hand, list the ingredients of success in this industry?

Management 12

Management Strategic Planning Competitive Advantage Airlines 12

Harvard Business Review

AUGUST 21, 2013

It told how American Airlines and others had introduced systems to help their customers choose their products and services. These "channel" systems helped steer business to American Airlines. ERP systems, RFID , knowledge management, business intelligence) have washed over organizations.

Competitive Advantage 8

Competitive Advantage Management Information Technology Airlines 8

Harvard Business Review

FEBRUARY 1, 2011

The Special Care Center does all kinds of things differently from other medical practices, including hiring full-time "health coaches" who work with the doctors but spend almost all of their time with the practice's low-income patients, helping them manage chronic illnesses and improve their lifestyles. They can learn about banking.

Training 16

Training Skills Airlines Health Care 16

Harvard Business Review

NOVEMBER 7, 2013

I recently worked with a retail bank that was trying to reduce the number of in-bound customer service calls pertaining to how a specific line of credit worked. Breakthrough ideas come when you look beyond the product or service to rethink every touch point, or every element of the customer value chain, as MacMillan puts it.

Airlines 8

Airlines Banking Creativity Brand 8

Harvard Business Review

MARCH 2, 2012

This is the "focused entry" strategy, a well-worn path in the history of successful startups (see Southwest Airlines). Southwest Airlines? It's not just Commerce Bank that's popped up on the radar to compete on convenience, but also ING Direct, offering industry-leading rates on savings accounts. They don't even feed you!

Airlines 11

Airlines Banking Sharpe Price 11

Harvard Business Review

FEBRUARY 4, 2015

When Southwest Airlines started to occupy the same market space as established air carriers, the incumbents predictably focused more on business class and international routes. When online banks first started to appear, retail banks did not consider them as “real banks.” Consider that Apple sold 74.4

Report 8

Report Disruptive Innovation Banking Insurance 8

Harvard Business Review

JULY 20, 2016

But why isn’t the commercial and investment bank telling its corporate clients to do the same? I believe he should tell his bank’s corporate clients to follow suit. Kaiser Permanente, Costco, Southwest Airlines, and Siemens are household names that have achieved consistently good results and good jobs with this strategy.

Long-term 8

Long-term Airlines Health Care Short-term 8

Harvard Business Review

JULY 6, 2012

In other words, what are Citibank, American Airlines, Amazon, UPS, and Volvo doing to create engaging apps that bind the user to the company, build brand equity, and provide high exit barriers for customers (and equally high entry barriers for competitors)? Leaders in this space include American Airlines and American Express.

Stage-Gate 12

Stage-Gate Airlines Brand Loyalty 12

Harvard Business Review

APRIL 12, 2016

We see positioning in the airline industry. Australia, for instance, has three main domestic airlines: Qantas, Jetstar (Qantas’s no-frills line), and Virgin, which started out as no-frills and has since chased the business-class, high-margin segment. That’s not the story in the clothing industry.

Business Model 8

Business Model Airlines Retail Travel 8

Harvard Business Review

AUGUST 17, 2012

Staats found that performance at a mid-sized Japanese bank peaked on the days with the worst weather, as it did in a series of lab experiments they conducted too. There is also new uncertainty about emerging markets, partly because of the difficulties they will face in managing potentially dangerous consumer, property, and credit cycles.

Airlines 9

Airlines Class Uncertainty Banking 9

Harvard Business Review

AUGUST 8, 2012

Richard Bove, a high-profile securities analyst who focuses on bank stocks, wrote a commentary that excoriated Wells Fargo for lousy service — so much so that he announced he'd moved his business to a different bank. Whatever it is that drives people to do business with a given bank, in my mind, now has to be rethought.".

Banking 16

Banking Airlines Long-term Advertising 16

Harvard Business Review

AUGUST 10, 2015

If you can build that kind of system as an enterprise, there is no reason to break the bank recruiting superstars or otherwise allow the top percentiles of your talent to walk away with “winner takes all” rewards. In our highly competitive economy, managers may be too easily seduced by the apparent advantages of automation.

Competitive Advantage 8

Competitive Advantage Storytelling Airlines Human Resources 8

Harvard Business Review

SEPTEMBER 29, 2014

The late Julian Simon (better known, perhaps, for his optimistic views about population growth and resource abundance) thought up the idea for having airlines auction off overbooked seats and persuaded the Civil Aeronautics Board, which used to regulate airlines fares and entry, to permit the idea in the 1970s. This has all changed.

Strategy 12

Strategy Black-Scholes Airlines Price 12

Harvard Business Review

AUGUST 24, 2017

A nearly $150 million settlement is pending for the fake-account scandal that roiled the bank last year, and a new scandal has emerged: Recently it has been alleged that thousands of customers were signed up for insurance without their knowledge. ’s largest banks? What explains the divergence in the fortunes of two of the U.S.’s

CEO 8

CEO Accrual Accounting Pharmaceuticals Banking 8

Harvard Business Review

MAY 30, 2014

Southwest Airlines’ decades-long strategy of “short-haul, high-frequency, point-to-point, low-fare service” produced what was not only one of the best-performing airlines in the U.S. For example, deregulation killed off icons in the airline business such as Pan Am and TWA. Or consider U.S.

Company 8

Company Supply Chain Airlines Health Care 8

Harvard Business Review

AUGUST 7, 2018

Why is it that when a group of managers gets together for a strategic planning session they often emerge with a document that’s devoid of “strategy”, and often not even a plan ? For some managers, this seems initially like putting the cart before the horse. Alicia Llop/Getty Images. It was seat-of-the-pants stuff.

Strategic Planning 15

Strategic Planning Planning Document Airlines 15

Harvard Business Review

DECEMBER 27, 2013

The theme park team didn’t consult a script or seek advice from managers. Airline JetBlue has embedded this philosophy in its hiring process. Watching how the applicants interact with one another enables hiring managers to assess their communication and people skills to an extent that wouldn’t be possible in a one-to-one setting.

Banking 13

Banking Airlines Compliance Bond 13

Frank Sonnenberg Online

JUNE 21, 2021

The truth is that many change-management efforts fail simply because the vital human component is underappreciated, when in fact it is at the heart of change. The enemy is poor management of change.” The enemy is poor management of change. As Dr. Rodger Dean Duncan says, “Change is not the enemy. Change is not the enemy.

Hotels 124

Hotels Stress Resistance Restructuring 124

Harvard Business Review

NOVEMBER 25, 2015

So most executives manage it according to their intuition. It takes a careful mix of mission, management, and culture. We found that the companies most famous for their cultures — from Southwest Airlines to Trader Joe’s — maximize the good motives , while minimizing the bad ones. Insight Center.

Motivation 8

Motivation Company Airlines Learning-by-Doing 8

First Friday Book Synopsis

JUNE 14, 2011

develop them to their full potential, including pre-screening, job matching, onboarding, managing performance, and maximizing potential. I have signed up to receive email alerts from Profiles International, a firm that offers assessment solutions that enable organizations to select the right people and ?develop

Productivity 70

Productivity Products Company Development 70

Harvard Business Review

MAY 31, 2018

Wells Fargo bank is under scrutiny from regulators for creating false client accounts to boost short-term profits. publicly listed companies from 2001 to 2015, looking at patterns of investment, growth, earnings quality, and earnings management. The McKinsey Global Institute examined the performance of 615 large- and mid-cap U.S.

CEO 8

CEO Short-term Long-term McKinsey 8

Harvard Business Review

JULY 19, 2013

No big deal, I thought: Simply call the bank. Airlines are a good example. But airlines did this in response to new government regulations establishing fines for companies that leave customers sitting for hours in planes on the ground. If the airlines had assumed that consumers were weak and insignificant, they were wrong.

Airlines 8

Airlines Hotels Loyalty Call Center 8

Harvard Business Review

APRIL 2, 2014

Good product managers are in continuous conversation with their customers. In a recent meeting I had with senior executives at a multinational retail bank, none of the top management team could remember the last time they had sat down with a randomly selected retail customer. Take Southwest Airlines as an example.

Competitive Advantage 9

Competitive Advantage Airlines Telecommunications Long-term 9

Harvard Business Review

NOVEMBER 23, 2010

He wasnt a process manager. As I think about companies that compete on consistent, low cost, reliable operations, most have or had leaders who were process innovators, such as Herb Kelleher at Southwest Airlines, Sam Walton at Wal-Mart, Ray Kroc at McDonalds, Jeff Bezos at Amazon.com, and Fred Smith at FedEx.

Process 15

Process CEO Insurance Banking 15

Harvard Business Review

JANUARY 3, 2017

Financial asset managers have been out-price-cutting one another in exchange-traded funds in a bid to gain market share. And airlines are gearing up for a price war on trans-Atlantic routes as some low-cost carriers plan service between the U.S. telecommunications carriers now compete fiercely on price as they try to win new customers.

Price 14

Price Retail Discount Tactics 14

Harvard Business Review

SEPTEMBER 16, 2016

In the same way that banks must constantly balance assets and liabilities, data-laden firms need to move from cyber-defense and fire-fighting toward more proactive management of what could prove to be their most important asset. This means determining not only what EvD means today, but what it will mean for the firm in the future.

Intangible Assets 8

Intangible Assets Intellectual Capital Corporate Accountability Activity Based Costing 8

Harvard Business Review

JUNE 23, 2016

But compliance with regulations isn’t only demanded of banks. Compliance professionals work in every kind of business – from health care companies challenged by legislation to food companies under a regulator’s watchful eye to airlines obliged to track anti-terrorism data.

Compliance 9

Compliance Drucker Banking Cost 9

Harvard Business Review

OCTOBER 3, 2016

Last year, Jeff Smisek, the former CEO of United Airlines, received a separation payment of $4.875 million in cash along with additional equity awards and other benefits for a total of close to $37 million after being ousted from his company. Golden parachutes can’t seem to stay out of the news.

Golden Parachute 9

Golden Parachute Hostile Takeover Airlines Execution 9

Harvard Business Review

JULY 22, 2016

Organizations that manage digital networks (we call them network orchestrators) are different from traditional product and service providers. Airline JetBlue has turned its Twitter account into a highly responsive, 24/7 customer service line. They begin with different values, invest in different assets, and choose different leaders.

Real Estate 8

Real Estate Business Model Incubator Short-term 8

Harvard Business Review

JANUARY 20, 2014

Specifically, he saw that the advent of digital technologies was going to fundamentally alter the way people conduct commerce, pay for things, and manage and move their money. They’re unbanked or under-banked or, as we call it, unhappily banked. billion people across the world, who live on the edges of the financial system.

Execution 8

Execution Software Banking Franchising 8

Harvard Business Review

NOVEMBER 21, 2011

In theory and practice, having your airline or local store quickly acknowledge and respond to constructive complaints can be wonderful. Brand managers and customer care leaders beware. Everyone looks good. Complaining about complaining has become "the new abnormal.".

Disintermediation 15

Disintermediation Call Center Core Competence Incentives 15

Harvard Business Review

MAY 15, 2012

That's why I've begun to encourage senior leaders of companies, executives who run business units or departments, even mid-level managers who are responsible for a specific brand, to step back and take time (probably much longer than twenty minutes) and write their organization's obituary. What legacy did your company leave in its industry?

Company 10

Company Brand Banking Long-term 10

Harvard Business Review

OCTOBER 18, 2016

How does your organization manage the money it spends on digital? In essence, digital investments should be planned and managed according to their current and future contribution to business performance. Today, for example, many banks, insurance companies and law firms are exploring how they might exploit blockchain technologies.

Tools 8

Tools Competitive Advantage Operations Technology 8

Harvard Business Review

NOVEMBER 23, 2011

For traditional direct marketers, the Customer Relationship Management aspect of this may at first sound familiar, but the multi-channel digital world brings new twists to the game.

Brand 15

Brand Retail Fashion Supply Chain 15