June 27, 2018

Operational management in American Express. Essay sample

 

The most vital thing to highlight regarding the subject of operational management in American Express is that the situation got sufficiently better as soon as Ken Chenault became the CEO of the company.

Among the problems which American Express faced at that time were the following: their punishing fee structure was rejected by the majority of retailers and restaurants, not to mention the fact that a lot of customers switched to Visa and MasterCard because the latter had better offers and did not charge so many fees. Ken Chenault was the one who managed to win those customers back and found out what a company can offer them for their loyalty to American Express. He have always been an inspiring and motivating leader. What is more, he had a vision for the company and always knew which direction to take so that to help the company succeed on the market.

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Ken Chenault brought change to American Express and helped every employee embrace it. Due to his efforts, the company has managed to identify what their consumers’ interests are as well as how to satisfy them. In addition, American Express finally embraced technology which meant that they have finally become a part of everyday experience for a consumer. Thus, it has become possible to provide tons of services and do it faster.

Taking everything into consideration, American Express has faced lots of obstacles on the way of becoming a successful company and finding its target audience. Luckily, the company had a very skillful CEO who paved the way for American Express in lots of areas within banking.

 

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