THE BANK BRANCH BLUES

One of the biggest mistakes bankers make is they don't build a culture in which senior management can obtain regular, direct feedback from front-line employees. This mistake is particularly debilitating to an organization as it grows larger and its executives become more remote from its custome...

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Bibliographic Details
Published inBank Director Vol. 14; no. 3; p. 10
Main Author Brown, Thomas K
Format Trade Publication Article
LanguageEnglish
Published Brentwood Bank Director 01.07.2004
Subjects
Bank management
Banking industry
Banks
Branch banking
Corporate culture
Customer relations
Customer services
Retail banking
Shopping
United States > US
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Summary:One of the biggest mistakes bankers make is they don't build a culture in which senior management can obtain regular, direct feedback from front-line employees. This mistake is particularly debilitating to an organization as it grows larger and its executives become more remote from its customers. The reason that Wal-Mart has grown into such an astoundingly successful company, in my view, is that Sam Walton never fell into this trap. Tellingly, there's no national banking organization that's as dominant in banking as Wal-Mart is in retailing. One reason is that the senior management teams at most banks are not maniacally focused on the details of their retail business.
ISSN:1070-7611