Abstract
In this article, we analyze how one organization, GE Money Bank in Switzerland, successfully created a new growth business through ambidextrous leadership and discuss the related challenges for business and HR leaders. GE Money is a business division of General Electric Co., one of the world’s largest and most admired corporations. As a global provider of consumer financial services, GE Money enjoys a dominant position in the Swiss auto financing and personal loan markets. However, these mature market segments offer little growth potential, and competitive pressures are increasingly affecting the margins. In 2006, GE Money Bank started to develop an innovative credit card offering, the M-Budget Card, which led to the creation of an entirely new business segment. The effort allowed the bank to successfully renew its organization and to continue on its profitable growth path.
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