Depict the banking industry, in terms of the following aspects:- What are the major performance metrics of production (what consumers look for in a product or service in terms of technology and innovation, not outcome metrics such as ROI, EPS, price, cost, revenue or sales, market share, growth rate, productivity, number of clients, customer satisfaction, subscriptions, etc.) of the major goods and services of the industry? – What are examples of sustaining innovations in the history of the banking industry?
– Were there disruptive innovations in the industry? If so, explain why they were “disruptive,” based on Christensen’s logic (e.g. overshooting, coming from below, asymmetry of motivation to compete) Support your argument with evidence. – What would be a good strategy to either prevent disruptive innovation of your competitors, or creating a disruptive innovation, based on your analysis of the three conditions of disruptive innovation (overshooting, coming from below, asymmetry of motivation to compete)? Why? Support your argument with evidence.
– Please take note that “investing in R&D” or “investing in marketing” is not in and of itself “strategy.” It is a step, or at best, a way to increase operational efficiency. Remember that strategy is a company’s unique approach of doing things that would be hard for competitors to imitate. – Also, note that a general answer in the lines of “focusing on innovation” is tautological. It is the same as saying “you need to try to be good to be good.” Provide a tangible strategy while not focusing on operational efficiency.
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