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Open Innovation in the Financial Services: Growing Through Openness, Flexibility and Customer Integration / Edition 1
     

Open Innovation in the Financial Services: Growing Through Openness, Flexibility and Customer Integration / Edition 1

5.0 1
by Daniel Fasnacht
 

ISBN-10: 3540882308

ISBN-13: 9783540882305

Pub. Date: 02/09/2009

Publisher: Springer Berlin Heidelberg

Open innovation means gathering new ideas from sources beyond organizational boundaries. It occurs when solutions to address clients’ needs are developed in collaboration and the resulting products and services are distributed through a flexible network of partners. Daniel Fasnacht’s book, the first of its kind, discusses open business models in the

Overview

Open innovation means gathering new ideas from sources beyond organizational boundaries. It occurs when solutions to address clients’ needs are developed in collaboration and the resulting products and services are distributed through a flexible network of partners. Daniel Fasnacht’s book, the first of its kind, discusses open business models in the context of the financial services industry. He elaborates the drivers for strategic change such as increasingly sophisticated clients or demanding shareholders among other trends, including the recent global financial crisis, and explains why the transition from a closed model of operation to open innovation is vital. Various case studies illustrate how to integrate the client into the firm's innovation process and emphasize the importance of smart client segmentation and a holistic advisory model to serve clients around the globe. Leaders must develop a set of new management practices to be able to invest in multiple strategic directions. They are responsible for giving clients a remarkable experience and for creating social relationship capital based upon an open innovation culture. Open Innovation in the Financial Services provides a much-needed framework for helping to understand industry dynamics in banking and to make the most of organizational energy by using open innovation to sustain profitable growth.

The book comes at the right time and offers a new mindset for business – not only for expansion strategies in general, but especially during turbulent times.

Product Details

ISBN-13:
9783540882305
Publisher:
Springer Berlin Heidelberg
Publication date:
02/09/2009
Edition description:
2009
Pages:
209
Product dimensions:
6.30(w) x 9.40(h) x 0.80(d)

Table of Contents

The Strategic Value of Growth and Innovation.- Leading Through the Changing Business Environment.- Open Innovation: The New Business Paradigm.- Transition Strategies to Open Innovation.- Developing a Set of New Management Practices.- Providing a Culture of Open Innovation.

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Open Innovation in the Financial Services: Growing Through Openness, Flexibility and Customer Integration 5 out of 5 based on 0 ratings. 1 reviews.
Anonymous More than 1 year ago