From the course: Counterintuitive Leadership Strategies for a VUCA (Volatile, Uncertain, Complex, Ambiguous) Environment
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Case in point: Capital One bank
From the course: Counterintuitive Leadership Strategies for a VUCA (Volatile, Uncertain, Complex, Ambiguous) Environment
Case in point: Capital One bank
- I know from my years of working in the corporate world that benchmarking can become almost an obsession for some companies. And in many ways, it's an irresistible safety net, a proven path. But I want to share a story with you about a company that decide to completely flip that script. As you probably know, the banking industry was dramatically transformed by the digital evolution. And before long, consumers could complete every financial transaction from their couches in the middle of the night. Online banking became the standard. With that change, customers suddenly had much less use for brick and mortar branches since they conducted more, if not all, of their financial transactions online. And as a result, most banks started closing the often empty local branch offices. That was the new benchmark for banking. Reduce the physical footprint and expand the online presence. The leaders at Capital One Bank were fully onboard with the digital trend. But as time went by, they started to…
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