Capital One 1996 Annual Report Download - page 8

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6
a credit card company. As the informa-
tion revolution increasingly transforms
other consumer products and services,
we believe our strategy and technology
will enable us to seize a competitive
advantage in the marketplace. We have
identified certain key industries, both
financial and non-financial, and in
some cases have begun more extensive
test-based exploration.
Our initial non-financial offering, a
telecommunications product, was intro-
duced in late 1995. However, we will
continue to keep most of our develop-
ment efforts under wraps. By pursuing
ideas quietly, Capital One often has
been first to market—a key competitive
advantage in a business environment
as fast-changing and imitative as ours.
Guiding Principles
Ahead, we see an abundance of oppor-
tunities for strong growth. Some will
come from changes we make—invent-
ing new products, serving new cus-
tomers, opening new markets at home
and abroad. Some will come from conti-
nuity—from our passionate commit-
ment to the eight guiding principles
behind Capital One’s remarkable
growth. These principles, featured in a
special section that starts on page 7,
are the essence of Capital One.
But the real power of our principles
is unleashed by the people charged
with turning them into action. We are
proud of our associates for all they
have done to help execute our unique
strategy, create and market products
that meet the needs of millions of cus-
tomers, and serve those customers well.
Our principles, and the company-wide
commitment to them, are what have
enabled Capital One to grow so fast
in such a short period. These principles
are timeless, so we are confident that
they will serve us as well in the future
as they have in the past.
Richard D. Fairbank
Chairman and Chief Executive Officer
Nigel W. M orris
President and Chief Operating Officer
As the information
revolution increasing-
ly transforms other
consumer products
and services, we
believe our strategy
and technology w ill
enable us to seize
a competitive advan-
tage in the market-
place.