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  • September 2002 (Revised October 2002)
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Bank of America (A)

By: Stefan H. Thomke and Ashok Nimgade
  • Format:Print
  • | Pages:21
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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, September 2002. (Revised October 2002.)
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About The Author

Stefan H. Thomke

Technology and Operations Management
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Related Work

    • September 2002 (Revised October 2002)
    • Faculty Research

    Bank of America (B)

    By: Stefan H. Thomke and Ashok Nimgade
Related Work
  • Bank of America (B) By: Stefan H. Thomke and Ashok Nimgade
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