Insights
In the business world, change is constant
In the business world, change is constant
The financial sector is expected to accelerate innovation in the areas of accessibility,
comprehensibility and security. Banks need to create a new customer experience while
reinventing and expanding their product portfolio along the customer journey. To achieve this, both internal and customer-oriented processes must be redesigned. It is now clear for most market participants that the typical toolkit facilitating incremental improvements is no longer sufficient to foster disruptive innovation in banking. Banks must implement new methods and approaches that will promote these innovations.
For many, the drum beat which has surrounded the GDPR deadline over the last 18 months has been hard to
miss, along with it the raft of information on how best to prepare. But for some, the task of navigating GDPR
compliance has seemed like a steep mountain to climb and many organisations are asking questions like “Are we
ready or not?”; “Have we done the right things?”; “What more should we be doing?” and in some instances it is
still “What’s GDPR?”!
Our 2017 Retail Report has found that traditional retail operating models are slowly disappearing. Where the power once lay firmly in the hands of the retailer, the consumer is now the driving force in the relationship. This shift of power, combined with an ever-changing social, demographic, economic and technological landscape, is forcing retailers to get closer to their customers than ever before.
The supply chain challenges manufacturers face in the short term are often very different from those they expect to face in the longer term. The key is to balance these immediate challenges against the longer term strategies of the business, and then prioritise both.
As revenue growth for manufacturers continues to be challenging, some businesses are giving direct-to-consumer (DTC) initiatives an increased focus. Organisations on this path are innovating their customer proposition and their business operating model. This means introducing risk and cost. How should businesses considering this challenge approach it?
The supply chain challenges manufacturers face in the short term are often very different from those they expect to face in the longer term. The key is to balance these immediate challenges against the longer term strategies of the business, and then prioritise both.
Rather than owning an asset, behaviour has shifted towards more convenient rental agreements, available on-demand and with less commitment. The sharing or ‘peer-to-peer’ economy enables people to rent assets owned by another individual.