The world around us is comprised of systems – organizational systems, business systems, political systems, family systems, inter-personal systems, biological systems, economic systems – and thus the list continues. It has been said that systems thinking is one of the key management competences of the 21st century. As our work becomes ever more tightly interwoven globally and as the pace of change continues to increase, we will all need to become increasingly “system-wise.”
But what exactly is a system? Most importantly, how can we manage our organizations more sustainably by understanding systems? Continue reading
How much did your education contribute to your success today? Most of us would say “an important part”, but many would also admit that they learned some of the most valuable lessons “on the job”. Jorge Guerrero went from sharing a shack in rural Paraguay with 20 siblings to collecting a prize at Harvard in 2010. What does a school which can create such a success look like?
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The insurance industry is a rather traditional industry. Major transformation was not an important issue for decades. However, this is going to change now. Among the transformation drivers are changing regulations, the financial crisis, changing customer perceptions, and digitalization – just to name a few. In this article we present results from explorative studies with industry experts and consultants. We discuss major challenges for insurance companies which are dealing with two very different markets, with a very special product and with IT innovation as a constant challenge. We outline types of transformation that we have encountered, e.g. industrialization and standardization, outsourcing and acquisition. Finally, we sketch some fields where insurance companies need to engage in order to achieve transformation readiness, including reduction of complexity, governance, and incorporating appropriate human transformation resources. Continue reading
When will it happen? How long will it take? – It is not clear yet. However, it is evident that a great transformation into a low-carbon economy will take place eventually and that the changes will be significant, also for business. Companies should get ready for this transformation rather sooner than later and consider it in their strategic planning and risk management now, since there is a business case for it already today.* Continue reading
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Clearly, in-memory technology offers increased information processing capabilities and expectations are rising. What role can it play in terms of business value, and what does it mean for the retail industry in particular?