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Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 18 April, 2011, 13:25Be the first to give this comment the thumbs up 0 likes

@Brett K: 

Your post is an excellent guide for "how to innovate". 

Ever since Amazon was founded, we've been hearing about how its disruptive model would alter the status quo in the book retailing industry, but it has taken some 15-odd years for a Borders moment to occur. And, well before that, we've seen WebVan, WebMD and several other innovators flame out. While organizational change might be a long drawn out affair, changes in consumer behavior don't happen overnight either. 

This brings us to the equally important question of "why innovate", especially in highly-regulated industries and in ones where not too many players seem to be doing it anyway. As long as companies are under the pressure to meet quarterly numbers or else face the wrath of Wall Street, innovators will continue to be weighed down by naysayers in their midst posing this question.

I think the way out is to package innovative products and services in bite-size chunks and aim for 'early wins' so that there's a win-win for all parties concerned.  

Brett King

Brett King

CEO & Founder

Moven

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This post is from a series of posts in the group:

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.


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