This article discusses why more innovation is necessary, especially with the entry of new competitors, increasing buyer power, and the availability of substitutes.
Innovation in command-and-control organizations is impeded by fear-based mindsets. Curiosity and openness are prerequisites for success and a growth mindset is key to encouraging risk-taking and transformative change.
The mobile phone is changing banks, and those who fail to adapt to this new model will be replaced by upstarts who use new technologies to completely redefine what it means to bank.
