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. Southwest operates in an industry that has long been obsessed with asset utilization as the key to competitiveness.

Competitive Advantage 8

Competitive Advantage Storytelling Airlines Human Resources 8

Harvard Business Review

NOVEMBER 23, 2010

Operations : Approaches problems practically; stands firm on issues, perseveres; maintains a standard of consistency and quality; provides stable leadership and supervision; develops detailed plans and procedures; implements projects in a timely manner; keeps financial records straight. Is the balance right in your organization?

Process 15

Process CEO Insurance Banking 15

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. Or consider U.S.

Company 8

Company Supply Chain Airlines Health Care 8

Harvard Business Review

NOVEMBER 23, 2010

I recently argued that in industries such as distribution and logistics (Amazon, FedEx, UPS), process manufacturing (Exxon), insurance (Aetna), restaurants (McDonald's), and retail banking (Bank of America, Citibank, Wells Fargo), continuous process improvement is essential. Tags: Leadership Operations Productivity.

Process 15

Process CEO Operations Banking 15

Harvard Business Review

APRIL 2, 2014

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. Other budget airlines like RyanAir and Easyjet offer similar competencies in Europe.

Competitive Advantage 9

Competitive Advantage Airlines Telecommunications Long-term 9

Harvard Business Review

DECEMBER 4, 2017

And that’s not just social media accounts; it’s bank accounts, retailer gift card accounts with cash and credit cards attached, airline loyalty accounts with years of accumulated frequent flyer points, and other accounts with real value.

ROI 9

ROI Long-term Banking System 9

Harvard Business Review

SEPTEMBER 10, 2014

Instead, smart organizations are driving analytics to an even deeper level within business processes— to make real-time operational decisions , on a daily basis. These operational analytics are embedded, prescriptive, automated, and run at scale to directly drive business decisions. There are no shortcuts.

Company 8

Company Hammer Operations Information Technology 8

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

OCTOBER 18, 2016

With this model, an investment can be defined as strategic, key operational, support, or high potential. Key operational investments sustain existing business operations, helping to avoid any disadvantage. Executives can sometimes struggle differentiating between key operational and support investments.

Tools 8

Tools Competitive Advantage Operations Technology 8

Frank Sonnenberg Online

JUNE 21, 2021

Being Change-friendly operates from a platform of respect and caring, not intimidation and contention. Whether you operate in a large corporation, in a small company, or in a non-profit organization, CHANGE-friendly IMPLEMENTATION can help you navigate change successfully. Change-friendly is also about leadership. Why settle for less?

Hotels 124

Hotels Stress Resistance Restructuring 124

Harvard Business Review

AUGUST 7, 2018

It can even involve immersing yourself in the stakeholder experience by going through it, e.g. the senior executives of an airline might travel at the back of the plane to get a feel for what economy passengers experience. I’ve assisted a rural bank which decided that its target customer was “commercial family farms.”

Strategic Planning 15

Strategic Planning Planning Document Airlines 15

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

SEPTEMBER 23, 2014

So it goes with airlines, telephone companies, banks, every organization you deal with — you’re continually redesigning strategic factors such as product range, presentation, and customer service. It’s an operational plan. In short, I’d begun to think in a way that I’d now call “strategic.” How about the service?

Management 12

Management Strategic Planning Competitive Advantage Airlines 12

Harvard Business Review

SEPTEMBER 10, 2014

Instead, smart organizations are driving analytics to an even deeper level within business processes— to make real-time operational decisions , on a daily basis. These operational analytics are embedded, prescriptive, automated, and run at scale to directly drive business decisions. There are no shortcuts.

Company 8

Company Hammer Operations Process 8

Harvard Business Review

MARCH 28, 2017

We don’t often think of it, but the same is true of commercial airline pilots. We take comfort that airline transport pilot certification is regulated by the U.S. He had recorded 19,663 total flight hours, including 4,765 flying an A320. And on January 15, the balance was sufficient so that I could make a very large withdrawal.”

Company 8

Company Wilde Airlines Transportation 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

DECEMBER 10, 2012

But smart business owners and their service reps realize the landscape in which customers operate has shifted — and that profoundly redefines what good (and bad) customer service means. This is why your bank tells you when your mortgage payment is due and your pharmacy reminds you that it's time to refill your prescription.

FAQ 15

FAQ Construction Technology Airlines 15

Harvard Business Review

NOVEMBER 25, 2015

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. Take for example the airline industry. We saw this play out in retail, banking, telecommunications, and the fast food industry as well.

Motivation 8

Motivation Company Airlines Learning-by-Doing 8

Harvard Business Review

JULY 22, 2016

Airline JetBlue has turned its Twitter account into a highly responsive, 24/7 customer service line. For most organizations, this is the least risky option, and a good middle road, despite the fact that many traditional organizations often see digital network operators as threats rather than allies.

Real Estate 8

Real Estate Business Model Incubator Short-term 8

Harvard Business Review

MAY 15, 2012

BMW falls into this camp, maybe Ritz-Carlton and Emirates Airlines. At Umpqua Bank, Ray Davis and his colleagues have devised a retail experience that appeals to all five human senses. Their goal: "We don't want the experience of banking here to feel like banking anywhere else." Your dishwasher? Your mutual funds?

Company 10

Company Brand Banking Long-term 10

Harvard Business Review

DECEMBER 16, 2010

Credit card issuer MBNA (now Bank of America) was known in the 1990s for its corporate mantra, "Think of yourself as the customer." In the 1970s and 1980s, Herb Kelleher, founder and CEO of Southwest Airlines, personified it. Still, most companies don't operate by the Golden Rule. The Golden Rule ("do unto your customers.")

Forrester 15

Forrester Retail Media CEO 15

Harvard Business Review

OCTOBER 17, 2011

Bethune was leading a turnaround at Continental Airlines, for example, he sent an unexpected $65 check to every employee when Continental made it to the top five for on-time flights. Less can be more when it comes to incentives. In the office, small gestures create a similar friendly feeling. When Gordon M.

Motivation 15

Motivation Gordon Sharpe Airlines 15

Harvard Business Review

FEBRUARY 15, 2013

The goal, says CEO Tom Rippin, is "to develop people who can operate equally well in commercial and social enterprise environments.". Or Paul Steele, once a senior executive at PepsiCo International who subsequently served as chief operating officer of the World Wildlife Federation. Build Your Bench Strength Without Breaking the Bank.

Chief Operating Officer 8

Chief Operating Officer How To Airlines Long-term 8

Harvard Business Review

JUNE 27, 2012

A list of the top 20 banks today contains only seven that were on the list a decade ago. A similar pattern hold for airlines. Stock markets might seem capricious, but in the long term, shareholder returns closely track operational performance. "We And for telecom. And for many others. Compete for the long term.

Creativity 14

Creativity Long-term Kotter Cost of Capital 14

Skip Prichard

MARCH 3, 2021

We view control over our time as more important than “lots of money in the bank” as a sign of success. Ed Bastian of Delta Airlines comes to mind. We are actively seeking ways to wrest back some sense of control over our lives. We want greater self-sufficiency. Experts are more important to your brand than fans are.

Brand 113

Brand Storytelling Trends Content 113

Harvard Business Review

OCTOBER 30, 2014

But the real power of the partnership comes from their ability to bring the best of each of their departments—as well as pricing, operations, and other groups—to bear in exploiting those micromarket opportunities. One European retail bank, for example, set up “opportunity labs” in its branches and agencies—i.e.,

Marketing 11

Marketing Guidelines B2C Analysis 11

Harvard Business Review

JULY 8, 2013

by the cable industry, make up two of the three lowest-scoring categories in the American Customer Service Index (the other is airlines). Maybe the passage of time has dulled my memory of what it was really like, or maybe the wonderfulness of the phone rep led me to believe that this was a different sort of operation.

Market Penetration 8

Market Penetration Industry Telecommunications Strategy 8

Skip Prichard

OCTOBER 14, 2019

Although none are perfect, they operate in a way that generates engagement and fulfillment for their employees, delight and loyalty for their customers, positive contributions to their communities and to the environment, and excellent returns for their owners and investors. Would you share an example of a company or two leading the way?

How To 82

How To Simon Learning-by-Doing Organization 82

Strategy Driven

FEBRUARY 4, 2011

Tactics deemed as ’standard operating procedure’ for some companies were exposed and ridiculed by others. Sweeping reforms by Wall Street and the Securities & Exchange Commission (SEC) are needed, forcing firms to separate their investment banking business from their stock advisory business. Operational Statistics.

Ethics 59

Ethics Cost Crisis Learning-by-Doing 59

Harvard Business Review

APRIL 22, 2016

The car’s interior was cramped and uncomfortable, and the steering wheel–mounted gearbox required exceptional dexterity to operate. ” According to the 2016 Airline Quality Study , the number of complaints filed by travelers on U.S. airlines in 2015 was the highest since 2000.

Airlines 8

Airlines Insurance Industry Survey 8

Harvard Business Review

DECEMBER 13, 2016

When I first joined BNP Paribas Fortis, for example, two younger and more dynamic banks had just overtaken us. The bank was using a project management tool, but the lack of discipline in keeping it up to date made it largely fruitless. Every organization needs what I call a “hierarchy of purpose.”

Project 8

Project How To Objective Efficiency 8

Harvard Business Review

MARCH 14, 2017

Travel loyalty programs tend to be complex and multicurrency, making them different from retailers, which typically run simple discount programs, or from banks, which offer cash back or a single currency that can be spent easily across a range of merchants.

Loyalty 12

Loyalty Customer Loyalty Travel Hotels 12

Harvard Business Review

APRIL 25, 2018

Managers in banks, hospitals, police departments, call-centers, and retail outlets who want to know what employees are up to can now quite easily do so. Many TSA officers and managers suspected that theft was mostly happening elsewhere, such as when airline staff and not TSA officers handled travelers’ luggage.

Travel 9

Travel Airlines Transportation Call Center 9

Harvard Business Review

SEPTEMBER 12, 2012

The companies thriving today are operating by a new set of rules — Social Era rules. But too many major companies — Bank of America, Sports Authority, United Airlines, Best Buy, and Walmart to name just a few — that need to get it, don't. Social can be — and already is — more than Media.

Strategy 18

Strategy Disaggregation Reis eBook 18

Harvard Business Review

MARCH 8, 2018

Like banks, airlines, and retailers, health care providers will need to offer an easy, digital front-end experience to their customers. Imagining the same ad for a healthcare provider in 2018, even an innovative provider, is a stretch. Insight Center. Health Care’s New Frontier. Sponsored by Optum.

Health Care 8

Health Care Retail Strategy Licensing 8

Harvard Business Review

JANUARY 8, 2015

As the CEO of a British bank confided at last year’s World Economic Forum, “We all know it’s important to be empathic, but how do I galvanize 48,000 people in my UK operations — most of whom think that empathy is for wimps?” Few would have been surprised to see the airline Ryanair down at 99th.

Emotional Intelligence 8

Emotional Intelligence Media Sample Banking 8

HR Digest

JANUARY 10, 2024

Walmart wants customers to know them for low prices, Singapore Airlines customers know them for customer connectivity, Apple customers perceive innovation and Fed Ex customers expect speed. Southwest Airlines’ firm brand, for example, is cheap, fun, and on time. So, operational day-to-day work drives out strategic work.

Ulrich 52

Ulrich Leadership Diversity Audience 52