Applying an “Agile” approach to business – Capital One Bank (case study)
Capital One and the need for Agility
➢ Capital One bank employs more than 47 000 people with a revenue reported of $25 billion (2016).
➢ It is a diversified bank that offers a variety of financial products and services to consumers, small businesses and commercial banks.
➢ After launching in the 90s it was one of the smallest banks in America and this aided to their advantage as they were able to react to market demands rather quickly.
➢ On expansion the bank lost some of its agility with delayed processes and out dated systems.
Agility implementation
➢ The bank began the process with name change of the IT Group to Capital One Technology, the name symbolised the focus
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Knowing the organisation relied on a lot of outsourced functions, the team set out to start insourcing all functions.
➢ The question that remained a constant was “How do we work in a way that allows great talent to do great work?” ( Rob Alexander, CIO, Capital One)
➢ The Agile workforce creation began, ground level was responsive, and the support of upper management had much room for improvement.
➢ Scale Agile Framework was considered the best Framework to guide the bank’s transformation purpose.
A number of objectives were met to ensure that the implementation was one that was seamless and efficient.
➢ 100% training: all team members attended Agile 101 training. Employees can now choose from a number of SaFe courses at the Capital One University.
➢ Empowering teams: Teams were initially resistant to change but upon understanding and clarity they soon embraced the new approach. People who never had a reason to speak to each other were now more comfortable to initiate conversation amongst each other.
The teams had a challenge of delivering independently because outside dependencies slowed down the process, this was solved by equipping every team with the ability to reach and deliver the end product
At Wells Fargo, teamwork and sales are important skills needed in order to succeed as a teller. At Wells Fargo, I plan to incorporate a system where each teller gains the skills necessary so that each task runs efficiently. To begin, I will start observing each banker’s, and each teller’s normal routine. I will be listening carefully to the conversations the tellers, and bankers are having with customers. As an observer, I will be taking notes on what the employee’s strengths and weakness are when lobbying to a customer, and working with coworkers. I will continue this process for a week. Once the week is complete, I will have one on one meetings with each employee. After the employee’s one on one meeting is complete, a proposed course of
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The concept of agile management enables the program to meet its needs and provides a value for business effectively and efficiently, unlike the traditional project management which was highly based
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As per Boehm and Turner concepts of balancing agility and Discipline six exemplary conclusions were made, of which first one is that neither agile nor plan-driven processes and methods provide a silver bullet which implies that either of the agile or plan-driven approach is not applicable in all situations. Both the processes deals with the essential software engineering complications like complexity, changeability, invisibility and conformity while both the processes have its own advantages and disadvantages. Agile method to some extent achieves changeability and invisibility as the project’s strategies and its implementation is discussed and shared among all the members of a team whereas it fizzles to handle complexity of the project and conformity. Also agile method fails in scaling up to large complex projects. Plan driven concepts handle conformity and invisibility as thorough documentation and extensive planning is done. But it fails in handling changeability as it is difficult to do re-documentation every time and also fails to handle increasing complexity as new systems are added which involves enterprise integration. Hence it can be said that neither agile nor plan-driven processes provide silver bullets instead they can be termed as lead bullets individually.
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Belbin, M. (2007) Managing through empowerment: Getting the most out of teamwork Day, The Daily Telegraph, 11, p.004
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