Abstract
Company Excellence sits, as it could not be otherwise, at the apex of the Holistic Management Strategy framework. Undoubtedly, the company’s embracement of the relentless pursuit of excellence is an endeavour at the core of the CEO’s role and necessarily a ‘must’ for the members of his/her Executive Committee. This chapter analyses a dual framework for Corporate Excellence which suggests an equilibrium between Balanced Design (at long-term strategy) and Considered Decision-Making (at day-to-day execution).
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Notes
- 1.
The CEO Letter 2019 was published in April 2020, with the COVID-19 pandemic and economic crisis in full swing, so the letter purposedly switched its traditional strategic focus to address instead the impact and reaction of the bank to this crisis; therefore, the CEO Letter 2018 was taken instead as a main source.
- 2.
Given the more limited depth of material dedicated to this type of topic in Bank of America’s CEO Letter to Shareholders and related material, the benchmarking with JP Morgan will be circumscribed to the next 2 sections of this chapter.
- 3.
JP Morgan Chase website.
- 4.
Bank of America website.
- 5.
- 6.
1903–2003, considered by HBS the ‘father of management consulting’. He joined McKinsey in 1933, becoming Managing Director of the firm from 1950 to 1967 during which he developed what became to be known as the ‘McKinsey Way’, remaining in the firm till 1992.
- 7.
Retail Banking (deposits, credit cards), Corporate and Investment Banking (markets revenues, investment banking fees), Commercial Banking (commercial real estate loans, commercial and industrial loans), Asset and Wealth Management (active long-term fund assets under management; global private banking assets).
- 8.
Global Systematically Important Bank (‘too big to fail’ as per bank regulators’ view).
- 9.
Prudential Regulation Authority and Financial Conduct Authority.
- 10.
An example: www.unanimous.ai.
- 11.
For a live illustration, please check video at: https://unanimous.ai/what-is-si/.
- 12.
For a Financial Institution, the Risk Appetite Framework is established at Board level, and it defines the Principal Risks categories (they could vary from one institution to other depending on its business focus). For a given decision not all Principal Risks might have relevance, so some might be considered ‘not applicable’.
References
“Firm Overview—Investor Day presentation” (JP Morgan; Feb.20).
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“CEO Letter to Shareholders 2018”—pgs. 17–18 (JP Morgan; Apr. 2019).
“CEO Letter to Shareholders 2010”—pg. 1 (Bank of America; Mar. 2011).
“Jobs” by Walter Isaacson (2011; Little, Brown).
“CEO Letter to Shareholders 2009”—pg. 23 (JP Morgan; Mar.2010).
“CEO Letter to Shareholders 2019”—pgs. 2, 9 (Bank of America; Mar.2020).
“CEO Letter to Shareholders 2019”—pgs. 8–25 (JP Morgan; Apr.20).
“CEO Letter to Shareholders 2010”—pgs. 1–2 (Bank of America; Mar.2011).
“CEO Letter to Shareholders 2018”—pgs. 16, 25 (JP Morgan; Apr.19).
“CEO Letter to Shareholders 2019”—pg. 3 (Bank of America; Mar.2020).
“CEO Letter to Shareholders 2018”—pg. 25 (JP Morgan; Apr.19).
“CEO Letter to Shareholders 2018”—pg. 24 (JP Morgan; Apr.19).
“CEO Letter to Shareholders 2009”—pgs. 4–5 (JP Morgan; Mar.2010).
“CEO Letter to Shareholders 2018”—pg. 16 (JP Morgan; Apr.19).
“CEO Letter to Shareholders 2018”—pg. 15 (JP Morgan; Apr.19).
“Firm Overview”—2020 Investors Day (25/02/20).
“Firm Overview”—2020 Investors Day (25/02/20)—pg. 9.
“Firm Overview”—2020 Investors Day (25/02/20)—pgs. 2, 13 and 24.
“Firm Overview”—2020 Investors Day (25/02/20)—pg. 14.
“Firm Overview”—2020 Investors Day (25/02/20)—pg. 24.
“CEO Letter to Shareholders 2018”—pgs. 17–18 (JP Morgan; Apr.19).
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Gavieiro Besteiro, A. (2022). Company Excellence. In: Strategy in Action. Management for Professionals. Springer, Cham. https://doi.org/10.1007/978-3-030-94759-0_10
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DOI: https://doi.org/10.1007/978-3-030-94759-0_10
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