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Client Successes - Double Bottom-line Profits | |||||||||
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Industry: Banking Function: Marketing and financial strategies Problem: Expert with 35 years industry experience retiring Outcome: Bank doubled bottom-line profits and department staff performed as if each had 35 years experience Situation: A large bank was determined to grow at an unprecedented speed. This rapid growth caused substantial marketing and financial challenges. As the bank grew, its liquidity became a problem that threatened its stability. Maintaining this growth required balancing economic conditions with market and financial strategies. One expert was responsible for helping top management keep the bank healthy and profitable. This expert was a star performer with over thirty-five years of industry experience. He was responsible for the banks marketing and financial strategies he was a well recognized economist and he was the leading strategy instructor at the Bank Administration Institute and the Banking School of the South. He was also ill, going blind and about to retire, taking all his expertise with him.
Both the CEO and the Chairman were determined to minimize their reliance on the banks most knowledgeable employee. First, they built a large marketing strategy department that was also responsible for the banks budget, even though that was highly unusual. The departments staff was young, very bright but relatively inexperienced.
Challenge: Once the CEO and the Chairman had hired the staff, their first challenge was to acquire, model and transfer the thought processes of the star performer across the market strategy department. The second challenge was to solve the banks liquidity problem and increase profitability. Meeting the Challenge: Thought Process Optimization was used to:
Result: Armed with the thought processes of the star performer, the members of the market strategy department rapidly became experts and soon each of them was performing their job as if they had many years of experience. These newly empowered employees used the Intellectual Capital Repository to develop new ways of looking at things, from process to products. As the quantity and quality and the interplay of thought processes among colleagues grew, a solution was created for changing product mixloans, the investment portfolio, deposits and purchased funds. This solution solved the liquidity problem and led to a doubling of the bottom-line profits of the bank. The result was an innovative solution resulting from a collaborative effort that harnessed the collective expertise of the department and enabled each individual to continuously learn from their colleagues at an accelerated rate.
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