Category: Innovation

Innovation

The McKinsey guide to getting unstuck

Colin Henderson

Feeling stuck is often frustrating, but it’s a challenge that can be overcome. Unlock the most productive version of yourself with expert advice from CEOs, strategies for leveraging generative AI, and transformative approaches to diversity, career development, fostering purpose in the workplace, and more. How to get out of your own way September 1, 2024 – There are many ways we can be our own worst enemy, but awareness is half the battle. Prioritize holistic health in the workplace to unlock growth August 28, 2024 – Burnout can affect anyone, but it’s particularly common in high-pressure work environments. If this sounds like a common … Continue reading The McKinsey guide to getting unstuck

Innovation, quantum

Taking a Globally Orchestrated Approach to Digital Disruption (Bain Brief)

Colin Henderson

[Bankwatch note] Bain produce a nice overview of emerging digital technologies and how to think about them. —- —- New technologies such as generative AI, quantum computing, and climate technology require unique but complementary managerial muscles. By Laurent-Pierre Baculard, Truc Mai Dupont, and Christian Tooley At a Glance Across industries, senior executives are navigating an increasingly complex landscape moving at ever greater speed—a cycle of continuous disruption. These disruptions, including advances in technology, shifts in market demands, environmental challenges, and geopolitical instability, are interconnected and amplify each other, creating new situations where change can outpace the organization’s ability to adapt. … Continue reading Taking a Globally Orchestrated Approach to Digital Disruption (Bain Brief)

Innovation

Deloitte analysis of 10 years … 4,000 global organizations digital transformation … enterprise value

Colin Henderson

Our analysis of 10 years of financial disclosures from more than 4,000 global organizations reveals where digital transformation actions can increase enterprise value—and, just as importantly, where they can erode it. Digital transformation is on everyone’s agenda. But the hardest part of any transformation is not deciding whether to embark on it; it’s understanding whether you’re seeing distinctive returns on your investment. Organizations often struggle to determine which actions drive the most impact and which investments yield the most enterprise value. We examined which actions can increase the odds of transformation success, and we identified the actions that drive value: … Continue reading Deloitte analysis of 10 years … 4,000 global organizations digital transformation … enterprise value

Innovation

Dual transformation: Optimizing the core and building new businesses

Colin Henderson

August 23, 2024 | Article By Ari Libarikian,  Chris Hagedorn,  Matt Banholzer, and Ryan NguyenShare PrintDownload With the economy still in flux, established companies could potentially unlock and sustain growth by building new businesses while simultaneously transforming the core. DOWNLOADS Article (8 pages) In recent years, the world has experienced significant disruptions to the global economy—with lasting effects. Elevated inflation, though easing in some parts of the world, remains a serious issue, and heightened geopolitical tensions show no signs of dissipating. High interest rates continue for now, and volatile commodity prices also persist. It’s become increasingly clear that these disruptions may not be temporary; rather, they … Continue reading Dual transformation: Optimizing the core and building new businesses

AI, Innovation

How breakout innovations feed growth momentum – McKinsey

Colin Henderson

Article (7 pages) People often speak of industry momentum as if it were a force of nature independent of individual companies’ actions—like the mysterious “ether” scientists once believed filled the universe and allowed light to travel. While demographics and macroeconomic factors outside organizations’ control do contribute to momentum, the trajectory and pace of industry growth very much rely on the innovation efforts of a sector’s constituent businesses. By harnessing technology and creating new offerings or business models, companies can forge new markets and propel new consumption. Our past analyses have shown that roughly 80 percent of a typical company’s growth comes from … Continue reading How breakout innovations feed growth momentum – McKinsey

Business Models, Innovation

The value of patience | Haldane BofE

Colin Henderson

This is a remarkable paper from Andrew Haldane at the Bank of England.  There are lessons and direction here for everyone and it is not as dry as one might expect.  It is the more remarkable because it addresses human behavior and relates to economic context.  Not your typical Central Bank speech.  Lessons from Asia are being learned. The most amazing for me is the HFT (high frequency trading) stat about Accenture in bold. A few quotes to whet your appetite. Take happiness. Studies have shown that happy people save more and spend less. Happy people also take longer to make … Continue reading The value of patience | Haldane BofE

Innovation3 Comments

“Islamic finance is a medicine for economy” | Linar Yakupov in Tatarstan

Colin Henderson

I continue to be fascinated by product design in western banks and the sheer lack of innovation despite a clear permanently different business and consumer environment.  By innovation I don’t mean higher or lowers fees and interest rates.  What about the substantive design of products?  The tile of this post is a provocative statement I located at Islamic Finance Expert that will likely meet mostly deaf ears in the US however when we dig beneath the surface , there is merit to the statement when we appreciate it speaks to the methodologies and product design employed by banks to fund … Continue reading “Islamic finance is a medicine for economy” | Linar Yakupov in Tatarstan

Innovation1 Comment

Goodbye Wesabe – now we will never know what could be developed

Colin Henderson

In what is the largest shock for me for a long time, Wesabe has shut down. I have long sung the praises of Wesabe and saw great potential for future expansion and delivery of innovative and useful services for people that no-one bank can ever offer. It appears they have run out of funding which I presume is because VC’s are not willing to support a competitor to Mint/ Intuit. This is shortsighted in my view but there we have the harsh reality of business. Online Finance Startup Wesabe Heads To The Deadpool | Techcrunch The startup’s homepage now consists … Continue reading Goodbye Wesabe – now we will never know what could be developed

Business Models, Innovation2 Comments

A Sure Sign that we are at a Turning Point in Mobility and Use of Internet

Colin Henderson

I noticed an ad on CNN this afternoon, that really shows the gap that lies between old business and new business. The topic here is personal use of technology – how individual managers and executives use it. This reflects personal,and therefore institutional effectiveness. It reflects the difference in things happening over days, versus over months. The ad was for GotoMyPC that “allows you to access your PC from anywhere in the word”. Its a funny ad that begins with a travelling executive who realises the information he needs is on his PC back at the home office, so he sends … Continue reading A Sure Sign that we are at a Turning Point in Mobility and Use of Internet

Innovation

You know its bad when … the government is more innovative than your Bank

Colin Henderson

This post from James following his first week at the DWP (Department of Works and Pensions, and hosts of direct.gov). DWP, is running an innovation experiment where they allow citizens to put their own applications on top of government data. Yes, that’s right: an API for the government.Show me a bank with API. You can’t, because there isn’t one. I have to go to a third party like Wesabe, who basically have to suck data out of banks without their permission, to get one. I think it is early days for what Direct.Gov is doing, but you can see the … Continue reading You know its bad when … the government is more innovative than your Bank