MANAGEMENT MAKES ALL THE DIFFERENCE

July 31, 2024Posted inGeneral Management
Recently returned from a magnificent trip to Africa. During the trip we stayed at four different lodges, all wonderful in their own way. One lodge in particular stood out. Every person we passed stopped and introduced themselves with a smile. In general, the lodge staff was smiling a lot, even when they were amongst themselves. A sense of well-being and positivity permeated the place. Even my extreme food pickiness and requests (I didn’t know blueberries…

THE IMPORTANCE OF CUSTOMER EXPERIENCE PART II

July 19, 2024Posted inGeneral Management, Retail
This article is a perfect follow up to my recent article on the importance of customer experience and perception. It is a summary of an interview conducted by David Martin of Julie Mayrant, the dynamic, ever-vivacious leader of Woodforest’s consumer bank. Woodforest’s roots are in consumer banking. It has over 740 branches in 17 states, mostly located inside Walmart and catering primarily to America’s working class. While much has been written about the importance of…

Outsourcing

May 22, 2024Posted inGeneral Management
Banks are looking for ways to reduce expenses as loan growth is anemic in most places, deposit costs are rising, NIM is shrinking and consumer fee income continues to evaporate. One solution that has not been on the table in the past for most institutions is emerging as a viable option for routine tasks: outsourcing. Providing jobs domestically is still and should always be the top priority for all of us, but economics also play…