What is the Bank of America’s (BoA) “innovation & development market” in terms of purpose? 2. What are your observations on process, organization, management, and culture to do with BoA’s “innovation & development market”? How does the “innovation & development market” compare the model of innovation management that is summarized by the ““Innovation: The Other Side, Making Innovation Happen”, as well as the points covered in the slides using the following questions. 3. Briefly list the three parts to an innovation management covered in lecture slides? 4. Discuss BoA’s Innovation Management approach along the following lines: 4a. Does “innovation & development market” fit with the “lecture slides” model of having an assigned dedicated team for innovation? Why/Why Not? How? 4b. Does “innovation & development market” fit with the “lecture slides” model of having partnership between the innovation team and core business? Why/Why Not? How? 4c. Does “innovation & development market” fit with the “lecture slides” model of having experiments as the primary means of producing workable innovation? Why/Why Not? How? 5. What does it mean to “test” a service innovation? What is involved in doing so that is different from a product? What is the impact on doing innovation? 6. Should BoA just hire outside companies (like IDEO or Continum) to develop new innovative services for them? 7. What constitutes an experiment in services in the context of BoA or any other bank? 8. What is the experience of BoA with “innovation & development market” so far? 9. What are the strengths and weaknesses of the “innovation & development market” currently? Why? 10. What grade (A, B, C, D, …) would you give Bank of America in doing “innovation & development market”? Why? 11. The BoA’s “innovation & development market” team is facing decision(s) at the end of the case (A): enumerate these decisions (their key variables/parameters) and offer how you would proceed to tackle this decision(s)?
