Archives

Innovation as a Means to Understanding Strategy

Mike Harris, Chairman of Innovation at RBS lists five things a CEO of a large organization must do to execute on innovation:

1. Be visibly and vocally behind the innovation agenda
2. Make a strategic case for innovation
3. Put an innovation infrastructure in place with processes for education and customer insight
4. Create an environment that values prototypes and pilots
5. Establish a innovation funding source and decision authority separate from the normal funding process

All of these can exist in perception but not in practice. For example, making the strategic case…

9 of 10 Projects From July Move Forward

We just received an update on the projects delivered for a financial services innovation program that ran from April through July of this year. Already it is looking like one of our most successful programs. Nine out of the ten projects are moving forward in some form. Highlights include a $1-billion mandate for an offering in China, an innovative interest rate cap product for foreign currency credit card purchases that rolled out earlier this month, and the approval of $4 million in technology spending for three separate projects.