Overview
- Innovative and inspiring: Open business models for financial institutions
- A plea for thinking outside of organizational boundaries
- Includes supplementary material: sn.pub/extras
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Table of contents (7 chapters)
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Front Matter
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Back Matter
Keywords
About this book
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.
Authors and Affiliations
Bibliographic Information
Book Title: Open Innovation in the Financial Services
Book Subtitle: Growing Through Openness, Flexibility and Customer Integration
Authors: Daniel Fasnacht
DOI: https://doi.org/10.1007/978-3-540-88231-2
Publisher: Springer Berlin, Heidelberg
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Springer-Verlag Berlin Heidelberg 2009
Hardcover ISBN: 978-3-540-88230-5Published: 09 February 2009
eBook ISBN: 978-3-540-88231-2Published: 11 February 2009
Edition Number: 1
Number of Pages: XVI, 209
Number of Illustrations: 6 b/w illustrations
Topics: Financial Services, Finance, general, Entrepreneurship