The digital revolution seems to be threatening established businesses, and no industry appears to be immune from it. Not all industries are equally affected by the emerging technology models. Some sectors, such as banking or news, have the potential to be 100% digital, whereas others businesses primarily based on human contacts or products, such as hairdressing or mining, may not have the potential to be fully digital. These businesses are affected by way of technology used, the back-office processing, or the way they interact with customers.
In his report, Julian Birkinshaw, Professor of Strategy & Entrepreneurship at London Business School, has looked at the UK retail banking and the impact of the digital culture on the retail banking and how to address these challenges. Birkinshaw views the challenges as opportunities and refers to them as Market Innovation, Operational Innovation, and Business Model Innovation respectively. The report concludes by defining better ways to foster a digital mindset by deploying a ‘fast/forward' culture where fast means alert, agile, experimental and capable of decisive action and forward means proactive and searching, and it also means seeking to create a meaningful connection with customers and other business partners.
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Very Interesting - Thanks for sharing Saeed. No industry is immune but the severity or let's say impact of those risks differs from one industry to another.
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1 reply by Saeed Hessami
Nov 29, 2016 12:18 AM
Saeed Hessami
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Hi Rami, thanks for the feedback. I fully agree with your statement that the impact is different from one industry to the other. However, there is an impact and we have to be aware of the change and take advantage of it and not resist it.
Very Interesting - Thanks for sharing Saeed. No industry is immune but the severity or let's say impact of those risks differs from one industry to another.
Hi Rami, thanks for the feedback. I fully agree with your statement that the impact is different from one industry to the other. However, there is an impact and we have to be aware of the change and take advantage of it and not resist it.
Saeed.
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2 replies by Rami Kaibni and Vincent Guerard
Nov 29, 2016 1:09 AM
Rami Kaibni
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You're Welcome Saeed.
I definitely agree with your last statement - This is the smart thing to do.
Nov 30, 2016 8:22 PM
Vincent Guerard
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Your right fighting a change is a losing battle.
Go with the change and make the best in your industry
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Nov 29, 2016 12:18 AM
Replying to Saeed Hessami
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Hi Rami, thanks for the feedback. I fully agree with your statement that the impact is different from one industry to the other. However, there is an impact and we have to be aware of the change and take advantage of it and not resist it.
Saeed.
You're Welcome Saeed.
I definitely agree with your last statement - This is the smart thing to do. Saving Changes...
Hi Rami, thanks for the feedback. I fully agree with your statement that the impact is different from one industry to the other. However, there is an impact and we have to be aware of the change and take advantage of it and not resist it.
Saeed.
Your right fighting a change is a losing battle.
Go with the change and make the best in your industry
...
1 reply by Saeed Hessami
Dec 01, 2016 11:56 AM
Saeed Hessami
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Thanks, Vincent to take the time to read through the article and providing comments. We live in a fascinating time with unmatched opportunities for change and bettering our lives.
Go with the change and make the best in your industry
Thanks, Vincent to take the time to read through the article and providing comments. We live in a fascinating time with unmatched opportunities for change and bettering our lives. Saving Changes...
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