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JPMorgan Chase After the Financial Crisis: What Is the Optimal Scope for the Largest Bank in the U.S.?
by David J. Collis Ashley HartmanWhen Jamie Dimon took over as CEO of JPMorgan Chase & Co. (JPMorgan Chase) in 2005 he reaffirmed the commitment to pursue a "Universal Bank" strategy - providing a full range of products and services to both retail and wholesale clients. Yet the merits of the universal bank had long been disputed. After 2008, the Financial Crisis and subsequent Great Recession damaged many global and domestic financial services firms. While the Government bailed out universal banks and monoline financial institutions alike, both governments and public clamored for action against banks they deemed "too big to fail." Regulators around the world stepped in to increase capital requirements while the U.S. government passed the Dodd-Frank bill, which improved transparency and accountability, and, with the Volcker Rule, limited banks' ability to pursue proprietary trading. In response, many financial institutions reduced their scope and reshaped their portfolios. In this context, JPMorgan Chase, the largest bank in the U.S. by assets since 2011, which had successfully weathered the financial crisis in part due to the benefits of diversification, emerged with a ""fortress balance sheet" and an improved position in the banking league tables. Nevertheless, the bank faced pressure from many directions, including large civil fines to settle, analysts' arguments about its "conglomerate discount," and regulation that penalized size, interconnectedness and complexity. Despite the pressure, Jamie Dimon remained vocal in advocating for the value of a broad scope, large scale financial services firm. However, questions remained about the optimal scope of the bank, and how JPMorgan Chase could best allocate resources across its diverse lines of business in the face of new regulations designed to limit size and complexity. <p><p> Facilitates a discussion around the optimal scope of a large financial institution and the value of diversification vs. simplification. Highlights challenges banks face in light of regulatory reforms and how to demonstrate value to various stakeholders.
JPMorgan Chase's Path Forward
by Joseph L. Bower Michael Norris Nien-He HsiehIn 2020, JPMorgan Chase announced a $30 billion Commitment to Advance Racial Equity. The Commitment included investments in housing, small businesses, and financial literacy across the U.S., and diversity, equity, and inclusion within the bank. IT was part of a broader cultural shift within JPMorgan and U.S. society to better acknowledge and work to remedy the effects of systemic racism in the financial system. The bank was now focused on implementing their commitments-turning their $30 billion into homes, bank accounts, and businesses that would improve the situation in minority communities across the country.
JPMorgan Chase: Invested in Detroit (A)
by Joseph L. Bower Michael NorrisBeginning in 2014, JPMorgan Chase launched Invested in Detroit, a $100 million philanthropic investment in the city over five years. The bank worked with local economic development organizations, workforce development organizations, small businesses, philanthropies, and the city government to put in place a series of investments to help turn around the struggling city. In 2017, JPMorgan Chases' chairman and CEO, Jamie Dimon, is faced the with decision of whether or not to expand the program to other locations in the U.S.
JPMorgan Chase: Tapping an Overlooked Talent Pool
by Boris Groysberg Katherine ConnollyBy the spring of 2014, the pilot had come to an end for JPMorgan Chase's ReEntry Program, a program designed for women coming back to the workforce after a period of time away. Mary Callahan Erdoes, CEO of Asset Management, and her team had to evaluate whether or not the program had been successful. Participants and managers both had provided some anecdotal positive feedback on the program, but Erdoes wanted to know how they could truly calculate the ROI. Wall Street was a data-driven place to work, and if they wanted to create something that would survive beyond the tenure of the firm's existing leadership, they had to prove that the time, money and energy invested by the firm was worth it. Calculating ROI would also help them to prepare for subsequent runs of the program and determine in what ways, if any, they should differ from the pilot. What factors should Erdoes and her team consider when calculating ROI? How can they position the program to ensure its survival?
JPMorgan Chase: Tapping an Overlooked Talent Pool
by Boris Groysberg Katherine ConnollyBy the spring of 2014, the pilot had come to an end for JPMorgan Chase's ReEntry Program, a program designed for women coming back to the workforce after a period of time away. Mary Callahan Erdoes, CEO of Asset Management, and her team had to evaluate whether or not the program had been successful. Participants and managers both had provided some anecdotal positive feedback on the program, but Erdoes wanted to know how they could truly calculate the ROI. Wall Street was a data-driven place to work, and if they wanted to create something that would survive beyond the tenure of the firm's existing leadership, they had to prove that the time, money and energy invested by the firm was worth it. Calculating ROI would also help them to prepare for subsequent runs of the program and determine in what ways, if any, they should differ from the pilot. What factors should Erdoes and her team consider when calculating ROI? How can they position the program to ensure its survival?
JPMorgan’s Fall and Revival: How the Wave of Consolidation Changed America’s Premier Bank
by Nicholas P. SargenThis book tells the untold story of how JPMorgan became a universal bank in the 1980s-1990s and the events leading to it being acquired by Chase in 2000. It depicts the challenges Morgan’s leaders – Lew Preston and Dennis Weatherstone – confronted when the firm’s business model was disrupted by the developing country debt crisis and premier corporate borrowers increasingly accessing capital markets, up to its current management with Jamie Dimon. It depicts what happened to Morgan in the larger story of U.S. banking consolidation.As Morgan sought to re-enter the world of securities and navigate around Glass-Steagall barriers, their overriding goal was to ensure it would remain a pre-eminent wholesale bank serving multinational corporations. Opportunities to grow through acquisition were presented and considered, including purchasing a stake in Citibank in the early 1990s. However, Preston and Weatherstone were reluctant to integrate areas unfamiliar to Morgan such as retail banking or to assimilate cultures that were disparate from the firm’s.This first-hand account explores whether Morgan could have stayed independent had its leaders pursued the strategic plan that called for it to make targeted acquisitions in areas where it had well-established businesses. Instead, in the mid-1990s, it went from being the hunter to the hunted. Rival banks that had been burdened by bad loans to developing countries and commercial real estate capitalized on rising share prices during the tech boom to acquire other institutions. Meanwhile, Morgan’s profits and share price lagged, which left it vulnerable.During this time, all of the leading financial institutions struggled to change their business models. In the end, no U.S. money center bank was able to become a universal bank on its own. What ensued was a growing concentration of financial assets in a handful of institutions that was the precursor to the 2008 financial crisis, which is explored further using Morgan as a lens, in a book that is sure to interest banking and Wall Street professionals and business readers alike.
JRD Tata and the Ethics of Philanthropy
by Sundar SarukkaiThis book introduces readers to the ethics of philanthropy, particularly in the Indian context. Drawing on JRD Tata’s philosophy and approach to business, it shows how business and philanthropy were intrinsically related for him. JRD Tata was arguably one of the most influential businessmen in post-Independence India. He was instrumental in not only expanding the Tata businesses but was also known for his impact on the conduct of business as well as his support for various national projects including research and education. He introduced key labour laws in his factories, which later became the model for the Indian government. He was also part of government institutions such as Air India. By discussing ideas such as trusteeship, the notion of profit, the relation between public and private, and social welfare, the book offers an intellectual map of JRD’s thoughts and an original perspective on their significance for an ethics of philanthropy in general. It provides new insights into the nature of ethical problems in the Indian context as well as ways to negotiate with them based on JRD’s work and reflections. It further creates a more meaningful understanding of Corporate Social Responsibility in the present global economy. Lucid and comprehensive, this book will be useful to scholars, researchers and faculty in departments of management and business studies, social work, sociology, economics and philosophy, as well as across social sciences. It will be of great interest to philanthropy organisations, non-governmental organisations, business schools, industry bodies, corporates, and those in leadership and management.
JTC: Stronger Together with Shared Ownership
by Daniela Beyersdorfer Ethan S. BernsteinNigel Le Quesne, CEO of Jersey-based financial services firm JTC, firmly believed that "shared ownership" was at the heart of his company's successful track record. The firm had seen its revenues, profits, and number of clients and staff grow steadily throughout its over 30-year history, and management attributed much of its competitive edge to its culture in which engaged employee owners had fully aligned interests and collaborated for the greater good of the firm. Le Quesne had seeded the first employee benefit trust with some of his own equity when becoming CEO in 1998, making all employees-from the receptionists to top executives-direct shareholders in the firm. Over time, the employee owned equity had grown from 5% to 23% and the trusts created significant value that had already been directly distributed to employees in two past pay-out events. In 2018, after JTC's successful IPO, Le Quesne and his leadership team have to decide if and how to adjust the shared ownership tools to their new public markets environment.
JUUL and the Vaping Revolution
by Michael W. Toffel Sarah Mehta John MaskoIn the summer of 2018, San Francisco-based electronic cigarette (e-cigarette) maker JUUL Labs, was experiencing exponential growth. Sales of its JUUL e-cigarette had increased by 783% over the preceding year, projected revenues for 2018 topped $940 million, and the company had captured over 72% of the U.S. e-cigarette market. The company's success had thrust it into the spotlight, and JUUL Labs found itself at the center of considerable controversy. Whereas the company's stated goal was to provide tobacco smokers with a less harmful e-cigarette alternative, JUUL Labs's products had proven widely popular with teenage high school students who had never smoked. Some advocacy groups and public policy makers speculated that the company had purposefully marketed its products to minors-an allegation JUUL Labs's executives strongly denied. The company now faced an FDA probe and investigations by at least two state attorney generals. It needed a strategy to deal with its mounting regulatory and public relations problems.
JWT China: Advertising for the New Chinese Consumer
by Elisabeth KollThis case analyzes the business strategy and expansion of JWT China from the late 1990s to 2008. As part of the world's fourth largest marketing communications network, JWT China grew into one of the largest integrated communications companies in China operating from offices in various parts of the country. The case provides students with a comprehensive history of and insights into China's advertising industry and the challenges for foreign and domestic firms operating within a highly regulated media environment controlled by the Chinese government. At the same time, this case offers insights into the structure of the highly fragmented Chinese consumers market, exploring the socio-economic disparities in income and media access as well as culturally determined consumer behavior across different regions and urban and rural areas. The case lets students explore how these trends might impact JWT's advertising and marketing strategies in the future and how to evaluate JWT's business expansion in China dealing with local and foreign competition.
Ja zum Nein: Selbstachtung Statt Harmoniesucht - Mit Sofort-übungen Für Den Beruflichen Alltag
by Kirstin NickelsenDieses Buch ist ein echter Selbstschutz-Leitfaden für alle, denen Grenzen setzen schwer fällt. Ihnen kommt ein „Nein“ zu Mehrarbeit oder Gefälligkeiten nur schwer über die Lippen, obwohl der eigene Schreibtisch schon randvoll ist. Stattdessen bleibt der hilflose Ärger über Chefs und Kollegen: „Immer ich, mit mir kann man es ja machen!“. Privat läuft es ähnlich, doch irgendwann ist das Maß voll, sind die Batterien leer. Davor schützt nur gekonntes „Nein“-Sagen – und das will gelernt sein. Wer nicht gut „Nein“ sagen kann, hat in der Regel Angst: vor dem Verlust des Jobs, vor dem Verlust von Zuneigung, Wertschätzung etc. Die Autorin hinterfragt diese Ängste und zeigt Wege, sie einfach und souverän zu bewältigen, eigene Grenzen zu erkennen und diese voll Selbstrespekt zu wahren. So gewinnt sich der Leser wieder als wichtigsten Menschen im eigenen Leben. Zahlreiche praktische Übungen, die sofort in die Tat umgesetzt werden können, machen dieses Buch zu einem besonders wertvollen Alltagshelfer. Die dritte Auflage wurde sorgfältig durchgesehen.
Ja zur Digitalisierung!: Mit der richtigen Einstellung die Zukunftsfähigkeit des Unternehmens sichern
by Sascha ZöllerUm die Zukunftsfähigkeit eines Unternehmens zu erhalten, führt an der Digitalisierung kein Weg mehr vorbei. Doch was, wenn die Entscheidungsträger weder über eine Strategie verfügen, wie sie diesen Prozess in Angriff nehmen sollen, noch über eine Vision hinsichtlich der zahlreichen Chancen für das Unternehmen? Sascha Zöller ermöglicht mit diesem Buch einen anschaulichen und praxisnahen Einstieg in das Thema Digitalisierung, gibt einen Überblick über die relevanten Themenkomplexe und zeigt anhand zahlreicher Beispiele, wie Strategien entwickelt und Prozesse gestaltet werden können. Dabei geht er auf die Unternehmenskultur und die Motivation der Mitarbeiter ebenso ein wie auf Fallstricke und Erfolgsfaktoren bei der Umsetzung.Dieses Buch richtet sich vor allem an Digitalisierungsskeptiker und an jene Personen in den Unternehmen, die sich von den rasanten Entwicklungen im digitalen Sektor überrannt fühlen und bisher lieber den Kopf in den Sand steckten. Es beschreibt die notwendigen Schritte, um die richtige Einstellung zu entwickeln, und gibt zahlreiche Tools an die Hand, um den Digitalisierungsprozess im Unternehmen erfolgreich zu initiieren und zu begleiten.
Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World
by Gary VaynerchukNew York Times bestselling author and social media expert Gary Vaynerchuk shares hard-won advice on how to connect with customers and beat the competition. A mash-up of the best elements of Crush It! and The Thank You Economy with a fresh spin, Jab, Jab, Jab, Right Hook is a blueprint to social media marketing strategies that really works. When managers and marketers outline their social media strategies, they plan for the “right hook”—their next sale or campaign that’s going to knock out the competition. Even companies committed to jabbing—patiently engaging with customers to build the relationships crucial to successful social media campaigns—want to land the punch that will take down their opponent or their customer’s resistance in one blow. Right hooks convert traffic to sales and easily show results. Except when they don’t.Thanks to massive change and proliferation in social media platforms, the winning combination of jabs and right hooks is different now. Vaynerchuk shows that while communication is still key, context matters more than ever. It’s not just about developing high-quality content, but developing high-quality content perfectly adapted to specific social media platforms and mobile devices—content tailor-made for Facebook, Instagram, Pinterest, Twitter, and Tumblr.
Jack
by Jack WelchJack Welch was perhaps the greatest corporate leader of the 20th century. When he first became CEO of General Electric in 1981 the company was worth $12 billion. Twenty years later it is worth a total of $280 billion. But Welch was more than just the leader of the most successful business in the world. He revolutionised GE's entire corporate culture with his distinctive, highly personal management style: the individual appreciation of each of his 500 managers, the commitment to an informal but driven work style and the encouragement of candour were all part of the Welch approach. Following John Harvey Jones's Making it Happen and Troubleshooter, Jack has already become the businessman's bible for the 21st century - an inspiration for a new generation of corporate players.
Jack Smith (A): Career Launch at Toyota
by Steven J. Spear Courtney PurringtonJack Smith had a stellar career at Chrysler managing major design teams and manufacturing plants before deciding to join industry leader and benchmark Toyota. It is his first day on the job; what will his orientation entail? Cursory walkthroughs and introductions before assignment to a job commensurate with his experience and accomplishments or something else to help him acclimate to Toyota's unique management approach?
Jack Smith (B): Becoming a Toyota Manager (I)
by Steven J. SpearJack Smith had a stellar career at Chrysler managing major design teams and manufacturing plants before deciding to join industry leader and benchmark Toyota. It is his first day on the job; what will his orientation entail? Cursory walkthroughs and introductions before assignment to a job commensurate with his experience and accomplishments or something else to acclimate him to Toyota's unique management approach?
Jack Smith (C): Becoming a Toyota Manager (II)
by Steven J. SpearJack Smith had a stellar career at Chrysler managing major design teams and manufacturing plants before deciding to join industry leader and benchmark Toyota. It is his first day on the job; what will his orientation entail? Cursory walkthroughs and introductions before assignment to a job commensurate with his experience and accomplishments or something else to acclimate him to Toyota's unique management approach?
Jack Thomas
by John P. Kotter Andrew BurtisThis redisguised version of an earlier case, Tom Levick, provides an updated setting but does not change the teaching objectives. Chronicles the first six weeks of experience on the job for a recent business school graduate. Emphasis is on managing upwards--particularly with respect to errors discovered by the protaganist for which his boss was responsible. Provides background data.
Jack Welch: General Electric's Revolutionary
by Joseph L. Bower Jay DialDescribes the work of Jack Welch as CEO of General Electric from 1981 to 1992, focusing particularly on his transformation of the company's portfolio through extensive dispositions and acquisitions and the company's culture through a mandated process called "work out." To a considerable extent, the case tells the story in Welch's own words drawing on earlier cases on Welch prepared by Richard Hammermesh and Frank Aguilar, as well as a 1991 interview with Welch in the Harvard Business Review and an article in Fortune, "GE Keeps Those Ideas Coming."
Jack's Notebook: A business novel about creative problem solving
by Gregg FraleyProblems! Jack Huber has his share. But when he is introduced to the creative problem solving process from an unexpected source, life soon changes . . . drastically. Jack Huber dreams of being a professional photographer and starting his own business. He has a few ideas but doesn't know how to process them to make his dream a reality. That is until an unlikely mentor stumbles upon Jack's path and shares a whole new way of thinking through problems. In Jack's Notebook, Gregg Fraley, an innovation consultant to Fortune 500 companies, illustrates a well-kept secret of corporate America: the Creative Problem Solving process. "If you are struggling to move ahead in your career, if you're an executive with a thorny corporate challenge, someone trying to solve a messy community issue, a family trying to sort through an emotional conflict, or an entrepreneur looking for ways to make the most of limited resources-this book is for you. If you have a 'mess' on your hands, you have found a useful tool." -from the Introduction
Jack: Straight from the Gut (Business Ser.)
by Jack Welch John A. ByrneIn his #1 New York Times bestseller, Jack Welch surveys his brilliant career at General Electric, reveals his personal business philosophy, and discusses his life post-retirement in a new afterword.They called him Neutron Jack. They called him the world's toughest boss. And then Fortune(r) called him "The Manager of the Century." In his 20-year career at the helm of General Electric, Jack Welch defied conventional wisdom and turned an aging behemoth of a corporation into a lean, mean engine of growth and corporate innovation. In this remarkable autobiography--a classic business book and runaway New York Times bestseller now updated with a new afterword--Jack Welch takes us on the rough-and-tumble ride that has been his remarkable life.
Jackie Taylor: The Black Ensemble Theater
by Steven S. Rogers Dan PerkinsJackie Taylor, an African American woman who founded a colorful theatre company, must decide whether to build a new theatre complex during an economic downturn, as construction costs rise, or wait it out. Debt is unappealing, but a new facility is essential to the company's future. Current plans mirror Taylor's aspirations for her company, and design changes will necessitate changes in strategy. Should Taylor simply focus on her brand of theatre and build accordingly, or push for a complex to develop new talent that will tell new Afro-centric stories? Will new stories appeal to an aging, but loyal audience? Perhaps Taylor should broaden storylines and focus to cater to younger, mainstream theatre-goers. Will they help pay for a new facility?
Jackpot: How the Super-Rich Really Live—and How Their Wealth Harms Us All
by Michael MechanicA senior editor at Mother Jones dives into the lives of the extremely rich, showing the fascinating, otherworldly realm they inhabit—and the insidious ways this realm harms us all.Have you ever fantasized about being ridiculously wealthy? Probably. Striking it rich is among the most resilient of American fantasies, surviving war and peace, expansions and recessions, economic meltdowns and global pandemics. We dream of the jackpot, the big exit, the life-altering payday, in whatever form that takes. (Americans spent $81 billion on lottery tickets in 2019, more than the GDPs of most nations.) We would escape &“essential&” day jobs and cramped living spaces, bury our debts, buy that sweet spread, and bail out struggling friends and relations. But rarely do we follow the fantasy to its conclusion—to ponder the social, psychological, and societal downsides of great affluence and the fact that so few possess it. What is it actually like to be blessed with riches in an era of plagues, political rancor, and near-Dickensian economic differences? How mind-boggling are the opportunities and access, how problematic the downsides? Does the experience differ depending on whether the money is earned or unearned, where it comes from, and whether you are male or female, white or black? Finally, how does our collective lust for affluence, and our stubborn belief in social mobility, explain how we got to the point where forty percent of Americans have literally no wealth at all? These are all questions that Jackpot sets out to explore. The result of deep reporting and dozens of interviews with fortunate citizens—company founders and executives, superstar coders, investors, inheritors, lottery winners, lobbyists, lawmakers, academics, sports agents, wealth and philanthropy professionals, concierges, luxury realtors, Bentley dealers, and even a woman who trains billionaires&’ nannies in physical combat, Jackpot is a compassionate, character-rich, perversely humorous, and ultimately troubling journey into the American wealth fantasy and where it has taken us.