In a recent article, The Financial Brand discussed the biggest threats to the financial and banking industry. They included a long list of everything from profitability to making good hiring decisions. However, we thought that there were a few problems that could be particularly fruitful when applied to open innovation systems.
Disruptive ideas don’t just happen - they must be championed. In doing so, intrapreneurs must address two fundamental truths when leading big idea innovation: that of value creation and that of persuasive communication. If you want to learn how to scale innovation across your enterprise and create a disciplined approach for creating market-changing ideas, One Hour Innovator is a great place to start.
Big Data has had a big impact on the competitive landscape. Businesses that have embraced this explosive technology of digital media are better positioned to market faster with products and services that satisfy customers' needs adequately. Wise management of time is very critical in staying ahead of the competition. Utilizing Big Data solutions in processing digital data is one way of enabling managers or organizations and business owners to make quick, informed decisions that streamline efficient business operations. Here is an analysis of some of the real management applications of Big Data:
Fintech has been one of the most talked-about topics in technological innovation lately, paving the way for revolutions in the financial sphere. The Bank of England announced last year that they would be looking to boost fintech development, indicating keen interest from financial giants. In this article, we’ll look at a few of the many recent innovative developments in fintech.
B2B, or business to business marketing, involves selling of a [...]
Have you ever wondered where great ideas come from? If your company has ever stalled for the lack of innovation, then you’ve probably thought about it from time to time. Innovative ideas can come from nothing, or from a long process of brainstorming and debate, but it always seems like some industries are consistently coming out with the best new products and processes, while others lag far behind. This isn’t your imagination; some industries are moving much more quickly than others. But which industries are the most innovative, and what sets them apart?
The latest Innovation Leaders research shows that there is an increasing number of high-growth companies that are prepared to take greater risk and make big bets. Rather than focus just on incremental growth, they are being bolder and are seeking to develop more radical innovation opportunities. Despite requiring significant investment and offering no guarantee of success this approach has been transformational for some. Where and why is this happening and what has changed that has made this approach more common?
Human talent, drive and innovation can achieve incredible feats - and what more tangible example than modern superstructures? Let’s take a look at some of the drivers behind building bigger and better buildings worldwide, from improved materials, to cross-sector collaboration and beyond.
The keyword “Industry 4.0” is no longer an empty cliché or a black box; it is currently probably the most important topic within the German economy. Not only will existing processes be revolutionized – but also new businesses and business models will arise. More and more companies have already started to tap into its potential.
The revolution in self-driving vehicles has advanced faster than insurance companies can react to it. These cars introduce unique factors that must be integrated into the models that are used to set insurance premiums. At this time, coverage for self-driving cars is set using the same formulas as for traditional cars. Not long ago, there was a fatality involving the Tesla Model S. This occurred while the vehicle's Autopilot mode was active. The case brought new attention to the risks of using self-driving cars on the road, and insurance companies noticed.
Innovation proves vital for companies across industries, but carries key importance in the technology field. Mainstream perception of the tech industry conjures illustrations of cutting edge, never-before-seen products poised to disrupt and revolutionize daily lives.
Getting started with open innovation and developing the right foundation for open innovation has been a key challenge at many companies in the last three to five years. Now, internal as well as external forces are moving these companies towards the next level of open innovation in which we go beyond just products and technology and start to explore how a more open and collaborative mindset can be applied to all more business units and functions. Think procurement and engineering as examples.
Innovation is all about survival – how often do we hear versions of that line? But in the field of humanitarian aid this really is the case. Innovation can sometimes be a matter of life and death. It’s a world characterised by crisis – but it’s also somewhere from which we might learn some new lessons to help manage innovation.
The financial landscape is changing and the crowd is uniquely suited to help banks and other financial institutions solve some of the challenges they face. In this article, we look at five tech trends and how they’re changing how financial institutions interact with their customers.
In the new global environment innovation is tending towards Platform Disruption, and is more focused on waves of change than single technology disruptions. The competitive capability of different innovation cultures, rather than technology, therefore becomes the critical success factor. In this article, Haydn Shaughnessy examines product and service platforms as the new organisational form and suggests that modern enterprises need to take the leap to a new way of business.
