Thursday, 12 January, 2012
Courtesy of years of unprecedented growth, we have an abundance of managers and an ’embarrassment’ of self-anointed leaders! So, before I re-state the need for innovation at every level in Financial Services (and across the “Economic domain”), I thought it would be useful to reprise the differences between the two – I can only hope that some of the self-anointed read this and start to live up to their own billing!
…diminished trust in business leads political leaders to set policies that undermine competitiveness and sap economic growth. Business is caught in a vicious circle.
Prof Michael E Porter
INNOVATION is not a re-hash of processes, products, services or introduction of new technology, that improve the income capabilities of an organization without delivering tangible benefit to stakeholders. It is ‘destructive creation‘ that may improve short-term results but at the expense of long term performance.
A LEADER, worthy of the title, will already have identified (perhaps even have begun implementing) changes, required to transform “inflexible” hierarchical management structures – that were adequate for the latter industrial era, into a structure able to respond to and exceed stakeholder needs in the Digital Age.
Where are these people? I want to hear from them! I want genuine business leaders who have the desire and ability to become RISK LEADERS. To create competitive advantage for their own organisation and to contribute to (re)building systemic resilience for survival in volatile and uncertain times.