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American Express: Ending Of Partnership With Jet Blue And Costco

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American Express’ (Amex) 2016 annual report states that their basic strategic approach for the organization focuses on reset, rebound, and return. “We set out to reset our economics, rebound from our challenges, and ultimately lay the foundation for a return to sustainable, top-tier financial performance” (American Express, 2015). In recent year, American Express lost two huge partnerships with Jet-Blue and Costco, leading them to rebuild a new strategic model. The ending of partnership with Jet-Blue and Costco caused a huge loss to their market share and revenue directly to their close competitors MasterCard and Visa respectively. The basic business strategy hinders on the exclusivity of American Express’ account holders and the reward systems
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