On any given day, one can find news articles referring to new developments in financial services, whether it’s about Bitcoin, block chain, P2P lending or other emerging trends. What do they all mean? Why are they attracting so much attention and what impact will it have for our daily lives? The following post is a summary of the key trends that have been addressed in Deloitte’s white paper – Fintech – Disrupting the way we bank.
The ability of fintechs to be more agile than their traditional counterparts poses a serious disruptive threat to traditional financial institutions
In a recent article on the Deloitte Strategy Blog: ‘Business Transformation: evolving the way business is conducted’ we outlined a new way for companies to think about the much used term Business Transformation. For us it is not a ‘costly, big bang, once and done’ exercise, rather business transformation is an evolution. An evolution in the way an organisation conducts its business and delivers value that is sustainable. This allows organisations to be more agile and respond to future shifts in the market or operating conditions. Put differently, transformation is a continuous exercise that has the deliberate focus of management and teams.
Business Transformation is not easy, it is highly complex, and there are many examples of failed transformations
The Ideas Boom is here. With the release of the National Innovation and Science Agenda in December 2015, the Australian government signalled its intent to define a new economic narrative to which our nation can aspire. One centred on innovation.
For government, failing to innovate is no longer an option. The ‘ideas boom’ is here and government stands to play a critical role in enabling our nation’s next wave of economic growth.
Although not new, scenario planning has never been so relevant. The degree of uncertainty, or ‘chaos’, has increased dramatically, especially with a range of disruptions brought on by digital technologies, political unrest, climate change, and shifts in customer behaviour. Scenario planning is a great process to manage these uncertainties more systematically as it provides the flexibility that is lacking from traditional strategic planning. It is also a fun way of engaging a broad and diverse range of stakeholders.
So let’s recap on a not-so-new yet proven method to remain relevant in the long term!
Scenario Planning cannot predict the future but it is a powerful tool in the strategy practitioner’s toolkit to help frame and manage an uncertain future
We sat down with Alon Ellis to discuss some of the common myths associated with setting the right Pricing Strategy. During our interview Alon provided no-nonsense clarifications for common pricing misconceptions and insights into how companies can overcome perceived barriers to setting the right price.
Pricing strategy is not a topic devoid of difficult and controversial business decisions. However, the payoffs of a proactive and analytical approach to pricing can yield large and continuing benefits.
Platforms are considered essential to the rapidly-growing sharing economy.
Mass adoption of the modern smartphone is resulting in vertically integrated firms being replaced by private markets hosted on platforms and populated by a plethora of much smaller firms. In the case of the sharing economy these smaller firm are typically individuals trying to stitch a career together from a collection of gigs.
Are platforms a necessary part of the sharing economy?
Changing dynamics in the Australian labour market are driving a considerable shift in the resourcing profile for both companies and workers. Contract workers now account for 28% of the Australian working population¹, with Australia ranked 15th globally across the key indicators of a mature market – availability, productivity, cost and regulation of the variable workforce². This change has been driven by both supply and demand side considerations with companies increasingly seeking a variable workforce that allows them to manage costs and workload fluctuations, as well as workers seeking more flexible working arrangements.
We are now seeing the first shockwaves of change through the creeping market share of flexible legal resourcing firms, signalling underlying changes in supply and demand, and the imminent rise of the variable legal workforce
In the prospectus issued alongside the largest IPO ever, Alibaba mentioned the term ‘ecosystem’ 160 times. They described their ‘ecosystem’ as ‘a platform for third parties’ that enables them to operate without needing to ‘engage in direct sales, compete with our merchants or hold inventory.’ The following article will define business ecosystems, identify four key trends enabling their rise and demonstrate how they are being leveraged to generate value. The rise of this thinking has implications for how companies develop strategy as the universe of options grows exponentially when considering business ecosystems.
Ecosystems open up the universe of possible options around where to play and how to win.
Suits meet sneakers. Ties meet t-shirts. Strategists and artists. Data scientists and designers. What happens when you combine these skills for 6 weeks with a wicked problem to solve?
This is the second instalment on the Deloitte Australia Strategy Blog exploring Deloitte’s Digital DifferentbyDesign™ approach. In this post we outline what we mean by left and right brain thinking, why deliberately approaching digital strategy with left and right brain thinking is beneficial and, in our experience, what the challenges and rewards are in experimenting with this approach.
This year has seen the pace of change in the media industry continue to accelerate with the introduction of new Subscription Video On Demand (SVOD) services to the local market, the release of innovative content publishing capabilities on social networks, increased adoption of ad-blocking software and continuation of the long-running battle that newspapers and magazines face against sliding subscription numbers in the digital age. Consumers’ media consumption habits are shifting in response to these changes, and understanding consumption preferences is becoming increasingly important for Media organisations as they attempt to capture and maintain audiences in an environment facing such fundamental changes.
Understanding consumer preferences for engaging with content is critical not just for media, telco and tech companies, but for any organization interacting with consumers in the digital age.