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Case
| HBS Case Collection
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2002
(Revised from original 2002 version)
Bank of America (A)
by
Stefan H. Thomke and Ashok Nimgade
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Abstract
Describes how Bank of America is creating a system for product and service innovation in its retail banking business. Emphasis is placed on the role of experimentation in some two-dozen real-life "laboratories" that serve as fully operating banking branches and as sites for testing new ideas and concepts. Focuses on: 1) how learning from experimentation can be maximized; 2) incentive and reward systems that motivate employees to experiment in "life" environments; and 3) the challenges of managing innovation in an industry that eschews risks, failure, and change.
Keywords: Motivation and Incentives;
Problems and Challenges;
Innovation and Management;
Risk and Uncertainty;
Change;
Failure;
Banks and Banking;
Learning;
Banking Industry;
Citation:
Thomke, Stefan H., and Ashok Nimgade. "Bank of America (A)." Harvard Business School Case 603-022, October 2002. (Revised from original September 2002 version.)