Businesses have maintained their leadership positions in the market by efficiently managing endogenous business factors such as costs and operational processes. As the competitive landscape continues to change in an accelerated way, it has become increasingly important for many businesses, in particular financial intermediaries, to understand the impact of exogenous business factors on their practices, processes and markets. These factors include emerging (and/or market disruptive) technologies and changing socio-demographic patterns, and they affect very deeply an organisation's ability to remain competitive in the market. The solution is to have a corporate innovation strategy to address the issues critical to their business sustainability.
Senior managers have access to all the necessary resources to set the next strategy of the company: they can get all the information they need from their IT departments; they can also use various channels to instruct different parts of the organisation to work together. They can even get external help from big consulting firms or industry experts. However, the problem is that few of these corporate strategies are actually implemented: some even say 90% of strategies fail because of poor execution. This is largely due to the separation of strategy from execution, which prevents effective co-operation and communication between those strategists who design the plan and those who put them into practice from taking place.
We offer clients our expertise in emerging market research and experience in business strategy development, planning and implementation to exploit opportunities in the markets and improve business performance. We work in partnership with experts in both developed and emerging economies to inspire financial services organisations, government agencies, multinational corporations and technology providers to explore new markets, optimise business processes, resolve problems or find creative solutions to the challenges they face.
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Its continued expansion in the market certainly indicates that many in the industry have confidence in the future of the sector. But growth does not guarantee profitability. There has been an ongoing discussion for the right Islamic banking model, and we welcome your contributions.