Organisations have traditionally been viewed through a mechanistic paradigm. This view holds that organisations are like machines and are composed of parts lacking any intrinsic relationship to each other. However, it is fast becoming outdated in today’s highly connected world. Modern perspectives of organisations are increasingly moving away from this mechanistic paradigm towards a view that is more similar to complex adaptive systems. This view is that an organisation consists of dynamic networks of interactions and relationships. Leading and managing in such an organisation involves more influencing, inspiring, and instilling and less controlling and ordering. Therefore a network perspective can [ Read More ]
Simplicity and the necessity to remove complexity from banking. The old model of fancy new products will disappear in the near future simply because of the perception that the financial crisis was brought about by complex financial products. Gaining trust. The Great Recession of 2008 had a lasting effect on the public perception of banks. The net result was a general lack of trust in the banking community and a need for improved transparency in the move to gain back that trust. Although South African banks were largely not party to the cause, they have been painted with the same [ Read More ]
One of the key reasons for innovation is to meet the new demands of the continually evolving customer requirements in terms of expectations. A case in point would be the younger generation who are accustomed to instant gratification and free services such as Facebook and Gmail. The revenue models of banks will be challenged in trying to cater to this segment. The next group to consider is the traditional target population – that is generally individuals earning more than R4000.00 per month. 98% of this segment is already banked under the traditional model. Banks have been competing tooth and nail [ Read More ]
