Bank of America-Case Study-HBR

Course: innovation management

Question: Of the three elements of an innovation initiative (Initiative 1: innovation is a team effort; innovation 2: Innovation requires partnership between innovation initiative and performance engine; Innovation 3: Innovation requires disciplines experimentation) which elements are clearly addressed in the following statements and why?

"The question then became how to change the role of the branches to balance customers' needs for a human touch with the bank's desire for cost-efficient, high-technology-based transaction platforms. The strategists at Bank of America realized that such a balance could not be found overnight; nor, in a world of changing technologies, could solutions ever prove permanent. A dynamic test bed for experimenting with new banking concepts had to be found."