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For Senior Management, From Senior Management – January 2011 Edition

January 7, 2011

W. Michael Scott – CEO of FMSI

Continuous Operational Improvements

I would like to mention a current event as it relates to continuous improvements. This last month, Atlantic & Pacific Company (better known as the A & P Grocery Company) filed for bankruptcy. This company was discussed in Jim Collin’s book Good To Great, a classic management book about eleven companies going from good to great.  A & P was discussed as a company that chose not to improve the design of its stores, nor keep up with competition.  Kroger did make the large investment in redesigning their stores and implementing new technology.  A & P chose to stay the same and not change ― to repeat ― A & P filed for bankruptcy recently.  How are you managing strategic change in your financial institution?

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