Strategy Driven

NOVEMBER 12, 2012

Written 70 years ago, it’s still the benchmark book for attitude, goal setting, and achievement. A benchmark and game-changing book for me and millions ofother people in business. These are books I have read, been inspired by, implemented, and banked. Here’s my list of must read books: 1. Swim with the Sharks by Harvey Mackay.

Books 56

Books Open-book Benchmarking Godin 56

Harvard Business Review

FEBRUARY 23, 2017

Think about the disruption being caused by electric and autonomous cars in automotive; by regulatory challenges in banking; by shale resources in oil and gas; and by a groundswell of public dissatisfaction in political institutions, to name just a few. To get a sense of how successful your recent reorg was, take the survey below.

Succession 12

Succession Benchmarking Automotive McKinsey 12

Harvard Business Review

MAY 25, 2017

On November 9, 2016, the shareholders of Australia’s largest company, and the world’s tenth-largest bank , revolted. The Commonwealth Bank appeared to shareholders as simply putting out a fire. ” The Commonwealth Bank is one among many firms around the globe that is forging new ground.

TSR 9

TSR Banking Committee Incentives 9

HR Digest

NOVEMBER 9, 2021

We look at an individual’s job being done, benchmarking their compensation regularly throughout the year. My career started in finance, where I first worked in investment banking, then on the trading floor and later became Lehman Brothers’ first Chief Diversity Officer.

Diversity 52

Diversity Katz Learning-by-Doing Globalization 52

HR Digest

NOVEMBER 9, 2021

We look at an individual’s job being done, benchmarking their compensation regularly throughout the year. My career started in finance, where I first worked in investment banking, then on the trading floor and later became Lehman Brothers’ first Chief Diversity Officer.

Diversity 52

Diversity Katz Learning-by-Doing Globalization 52

Harvard Business Review

SEPTEMBER 27, 2011

A friend who has worked for decades at the Bank of America told me that the company fully understood the poor loans it was making. The people working for the bank weren't idiots. For the most part, CEOs hire outside experts to help them benchmark — as though you could benchmark your way to the top.

CEO 14

CEO Benchmarking Long-term Banking 14

Harvard Business Review

NOVEMBER 29, 2011

A classic example of this phenomenon, which I chronicled in my book Mavericks at Work , was the game-changing performance of Commerce Bank, one of the most colorful institutions in the history of retail banking. Ten years later, after a period of massive growth, the company sold itself to TD Bank in a stock transaction worth $8.5

Banking 18

Banking Retail Open-book Creativity 18

Harvard Business Review

FEBRUARY 1, 2012

The public is up in arms about some of the big bonuses being paid to the CEOs of big bailed-out banks. The boss of Britain's RBS, one of the biggest casualties of the banking crash, has felt obliged to turn down a $1.5 million bonus in the face of mounting anger and the threat of legislation. It all used to be very different.

Comparison 14

Comparison Committee CEO Banking 14

Harvard Business Review

JANUARY 31, 2018

Having worked in HR at a large banking corporation and in strategic HR consulting, I’ve seen the effects of learning and development on career mobility — and what leads people to let it fall by the wayside. Set a golden benchmark. Of course, that benchmark will change as you develop.

Skills 8

Skills Benchmarking Learning-by-Doing Career 8

Harvard Business Review

OCTOBER 29, 2012

The reality is that many of them are unable to take such basic steps as setting achievable benchmarks, removing underperformers, collecting useful data, or offering coherent bonus schemes to motivate employees. At our web site , you can quickly benchmark your organization by country and industry on a management-scoring grid.

Management 8

Management Benchmarking Short-term Incentives 8

Strategy Driven

NOVEMBER 18, 2020

During the initial phase of investing, there will definitely be more money coming out of your bank account than going in. Learning More as You Hit Your Investment Benchmarks. Investors who develop their portfolios with a goal in mind are simply more likely to hit their benchmarks. Knowing What’s Going Out Versus Coming In.

Goal 71

Goal Benchmarking Due Diligence Marketing 71

Harvard Business Review

NOVEMBER 18, 2015

A network security geek went from a global bank to a Beltway bandit start-up. The move had extensive IT repercussions for the bank, but it wasn’t sure what to do next. A nice lunch at an excellent restaurant with the ex got the bank 70% of the way to where it needed to be. . … We’re grateful.”

McKinsey 8

McKinsey Banking Reference Human Capital 8

Harvard Business Review

JUNE 13, 2012

Companies and those that criticize their efforts are not doing D and E consumers any favors by clinging to the low-margin philosophy, which is unable to generate economic returns that are competitive with alternative uses of a company's capital — the true benchmark of business success. The result has been explosive growth.

Microfinance 13

Microfinance Prahalad Bottom-up Banking 13

Harvard Business Review

MARCH 13, 2013

Since 2008, we've benchmarked the performance of nearly 250 operations centers working on both core operations (e.g., bank account opening, claims) and support functions (e.g., Originally designed to provide labor cost arbitrage, they are now on the brink of being a source for strategic advantage. But that's not by accident.

Offshoring 8

Offshoring Cost Benchmarking Operations 8

Harvard Business Review

JULY 2, 2015

In fact, the World Bank’s Ease of Doing Business lists show that the rankings of most emerging economies covered by acronyms and abbreviations have worsened. We call that process the A-B-C (which stands for Analyze-Benchmark-Calibrate) of developing a globalization strategy.

Marketing 8

Marketing Benchmarking Globalization Construction 8

Harvard Business Review

JANUARY 22, 2018

Meta-analytic studies reviewing 50 years of research suggest that personality traits such as curiosity, extraversion, and emotional stability are twice as important as IQ — the benchmark metric for reasoning capability — when it comes to predicting leadership effectiveness. Insight Center. The Risks and Rewards of AI.

Leadership 8

Leadership Short-term Agility Emotional Intelligence 8

Harvard Business Review

SEPTEMBER 26, 2011

Caterpillar , for example, publishes its dealer sales statistics by region each month, while the Spanish bank Santander puts out a newsletter with key operating results and commentary. In response, several pension funds and SWFs have begun or expanded the use of absolute return benchmarks in their equity strategies. "It

Long-term 8

Long-term CEO Short-term McKinsey 8

Harvard Business Review

APRIL 30, 2014

Along with these efforts, a huge and growing array of award granters, raters, and scorecard vendors has emerged to help companies benchmark, track progress, and measure success. Google and Deutsche Bank also have a massive, global focus on diversity with enormous commitment at all levels of the organization. Europe, and Asia.

Diversity 8

Diversity Execution Commitment Restructuring 8

Harvard Business Review

AUGUST 5, 2014

The CMO also worked with the finance office and product managers to link pricing and benchmark data into the RFP process, which improved quality and response times. Those steps helped the bank drive up loan volumes, a tangible bump the CMO could point to in discussions with other leaders.

P&L 10

P&L Banking Marketing Call Center 10

Harvard Business Review

JANUARY 4, 2018

Most of the initial ABU recruits were external hires, and several of them had little knowledge of the banking industry. From an organizational standpoint, the most innovative aspect of the strategy is in treating the analytics unit as a profit center with the corresponding rigorous benchmarking and performance incentives.

Company 8

Company Chief Operating Officer Incentives Project 8

Harvard Business Review

FEBRUARY 23, 2017

It is lower in investment banks than supermarkets — but that’s because midlevel bankers are paid well rather than because banking executives are paid poorly. But this $1 billion provides a benchmark against which to compare the pay of $10 million, to decide whether it’s fair.

CEO 9

CEO Price Long-term Incentives 9

Harvard Business Review

AUGUST 5, 2015

His administration followed up by instituting massive public sector scholarship programs; rigorous assessment practices focused on potential; extensive development and training, including exemplary rotations and milestone courses; and outstanding promotion, recognition, and salary benchmarking practices to match private employers.

GDP 8

GDP Education Porter Globalization 8

Harvard Business Review

JUNE 27, 2013

In 2013, only 8% of the companies in this annual benchmarking survey received a top grade from their customers — and that''s a pathetically low number in comparison to the amount of professed innovation in the industry. Not surprisingly, it wound up with a bank that looks like an Apple store.

Innovation 8

Innovation Forrester Business Model Long-term 8

Harvard Business Review

FEBRUARY 24, 2011

Amidst high-frequency trading, shadow banks, and quarterly earnings "guidance", he still believes: "What counts in investing is what we pay for a business and what that business will earn in the succeeding decade or two.".

Letter 15

Letter P&L Net Present Value Insurance 15

Harvard Business Review

JANUARY 17, 2014

They can be measured and benchmarked for any organization: 1. When Westpac, one of Australia’s largest banks, developed a new vision to “delight customers,” it found that was easy to say, hard to do. Customer Insight:? Does the company have a deep understanding of its current customers’ needs?

Loyalty 8

Loyalty Open-book Benchmarking Industry 8

Harvard Business Review

SEPTEMBER 30, 2016

My colleague Tomasz Obloj, of HEC Paris, and I recently examined the effects of an awards program implemented at a European bank selling small consumer loans. The awards program invited each of the bank’s 164 outlets to compete for an all-expenses-paid, weeklong vacation to an exotic resort.

Comparison 8

Comparison Incentives Outsourcing Self-aware 8

Harvard Business Review

FEBRUARY 7, 2013

On the contrary, tackling climate change is an investment that pays off economically as well as socially.

Insurance 8

Insurance Supply Chain Benchmarking Trends 8

HR Digest

OCTOBER 5, 2021

A global bank sourced 600 people with disabilities and the result was not a single person getting hired after identifying there was significant bias throughout the hiring process. Ongoing measurement and reporting helps you gain context around relevant benchmarks and even set goals and hold team members accountable to meet them.

Diversity 98

Diversity Organization Training Apparel 98

Harvard Business Review

OCTOBER 18, 2016

It has resulted in higher prices in the airline and banking industries. Whereas the former fight for more performance-sensitive pay that is benchmarked against competitors, the latter vote against them , instead often passing high and performance-insensitive pay that discourages competition between firms in the same industry.

CEO 8

CEO Asset Management Cooper Industry 8

Harvard Business Review

MAY 30, 2014

But you have also said that this benchmark is not so important to the Chinese, that they have no desire to engage in economic triumphalism. That will only lead to further escalation, it’s very clear. You have noted elsewhere all the media hoopla around China becoming the largest economy. So they’re going to help you build a stadium.

Long-term 8

Long-term Politics Globalization Uncertainty 8

Harvard Business Review

MAY 3, 2013

Big Data is what enables banks to predict credit card fraud by analyzing billions of transactions, marketers to understand customer sentiment by analyzing millions of interactions on social media, and retailers to target promotions and offers by analyzing millions of purchases.

Power 8

Power Health Care Information Technology Loyalty 8

Harvard Business Review

JUNE 12, 2015

Having benchmarked other hospitals, Lakeland’s leaders knew that more favorably located hospitals typically achieved higher patient scores with similar service levels. Lakeland drew from a shallow hiring pool and had to treat a disproportionate number of seriously ill and often uninsured patients.

Innovation 8

Innovation CEO Benchmarking Airlines 8

Harvard Business Review

JUNE 3, 2016

bank, for example, managers had to personally sign the business case for each benefit they were claiming a new CRM system would provide in order to show their commitment to realizing them. In the apparel industry, the benchmark for inventory accuracy is somewhere between 60% and 70%. In a major U.K.

Tools 8

Tools Supply Chain CRM Technology 8

Harvard Business Review

NOVEMBER 9, 2012

it takes a huge phone bank of people willing to plough through a lot of hang-ups in order to generate the same number of completed surveys. Benchmarking against reality. Smart organizations benchmark their tech choices against a different standard: reality. Differentiating among tech solutions. Embracing the inevitable.

Benchmarking 8

Benchmarking Bottom-up Media Survey 8

Harvard Business Review

JUNE 7, 2017

With automated pricing engines, insurers and banks can roll out new offers as fast as online competitors. One traditional insurer, for instance, shifted from updating its quotes every several days to every 15 minutes by simply automating the processes that collect benchmark pricing data.

Company 13

Company Telecommunications Retail Supply Chain 13

Harvard Business Review

MARCH 28, 2013

Their lean model uses mobile-based banking technology from M-Pesa to transfer 90% of the money raised into the hands of the poor. But GiveDirectly has a new concept: What if cash transfers are used as a standard benchmark against which to measure all development aid?

Benchmarking 8

Benchmarking Technology Globalization Long-term 8

Harvard Business Review

NOVEMBER 20, 2015

That was exactly the challenge that Dave McKay faced when he was appointed President and CEO of the Royal Bank of Canada (RBC) in August, 2014. McKay was a proven and successful executive at the highly regarded Toronto-based financial services giant, having most recently led the group’s personal and commercial banking division.

Crisis 8

Crisis Banking CEO Business Model 8