Developing a Twenty-first-century Agenda

Joseph A. DiVanna

Chapter Conclusion in Redefining Financial Services, 2002, pp 242-244 from Palgrave Macmillan

Abstract: Abstract To meet the competitive challenges of the new century of business, financial services firms must develop an action agenda that continually assesses its value proposition from the customers’ and shareholders’ viewpoints. Interpreting technological, behavioural and cultural trends requires direct observation of customer actions and comprehensive analysis to foster innovation and new business opportunities. Individuals in the financial services industry need to develop process knowledge and consider an ever-widening array of factors that are often overlooked while developing strategic initiatives. Disintermediation is the link between a competitive advantage and organizational shortcomings, creating opportunities for new market entrants while increasing the demands on corporate resources in traditional financial institutions. In any case, the landscape of financial services is being drastically altered as is the nature of how multiple generations of customers are defining the value of financial intermediaries.

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-0721-9_34

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DOI: 10.1057/9781403907219_34

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