There is Something Forgotten About the Customer in the State of Denmark’s Finance: The Tale of Danske Bank’s Misaligned Innovation and Communication Strategy

Jørn Bang Andersen ()
Additional contact information
Jørn Bang Andersen: Clareo Partners

Chapter Chapter 20 in Strategy and Communication for Innovation, 2013, pp 347-365 from Springer

Abstract: Abstract In the early 1990s the Nordic countries Sweden, Norway and Denmark went through a major financial crisis where for example the Swedish Krone was devalued with 26 % and both in Sweden and Norway did the governments have to rescue their banking sector by nationalizing it. In Denmark the banking crisis didn’t go as deep as in the other Nordic countries. This meant that Danske Bank, one of Denmark’s and the Nordic region’s leading banks, had a special situation and an open window of opportunity for expansion to becoming one of Northern Europe’s leading regional banks. In this chapter the story is about how Danske Bank’s innovation focus from back in the late 1990s and later on with its communication strategy derailed the bank’s leading market position in the Nordic region and Denmark. The case applies the Innovation Radar, a business model innovation framework, and reputation management to show how even a very focused innovation strategy neglecting the customer over time can be lethal if the strategy becomes static and is not reviewed. The case also looks into why a communication strategy in order to be effective should be an integrated part of a company’s overall business innovation strategy.

Keywords: Innovation Strategy; Mortgage Loan; Customer Experience; Reputation Management; Business Model Innovation (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-41479-4_20

Ordering information: This item can be ordered from
http://www.springer.com/9783642414794

DOI: 10.1007/978-3-642-41479-4_20

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().