And he made a good point that banks should look at their IT in terms of what they need to run the bank and what they need to change the bank or offer differentiatedservice.
They graduated from college as a generalist with no particular skill or talent that differentiated them from the millions of other graduates looking for jobs in our largely service oriented economy.
International price comparisons of a differentiated product such as Internet connectivity should be taken with a grain of salt because the quality of Internet service might not be comparable.
And this race to the bottom line price may have led many retailers to sacrifice the very features that differentiated themselves in the marketplace to begin with, such as product quality, merchandise selection, and customer service.