Listen to podcast – How can a company remain dominant in a fast-changing business environment?
BI BUSINESS REVIEW
In this episode of Stay Ahead, DNB’s CEO Kjerstin Braathen and Associate Professor Espen Andersen discuss how an incumbent company can adjust its strategy to stay competitive amongst rapid changes.
Create an innovation force from within
Today’s business environment is characterized by extremely fast-paced changes when it comes to technology and customer needs. It requires organizations not just to redesign their operations and strategic direction but also their thinking.
“The main challenge for any organization is to be aware of and able to operate with new technologies before you are forced to by the business environment”, Espen Andersen argues.
“Organizations must find a way to innovate from within and not by external factors. This can be achieved by combining technological experts and people who are the closest to the specific problems and customers so that their expectations and needs are accounted for”, Kjerstin Braathen points out.
Keeping up with the competitors
Fin techs and existing service providers such as Apple and Google are integrating horizontally and vertically into financial services at a rapid pace. To successfully compete, it is crucial to provide smooth and attractive services that simplify people’s lives.
It is important to identify and prioritize those core areas where there is increased competition. Due to this strategy, it was possible for DNB to develop the payment service system Vipps within only 6 months.
Listen to the episode and learn more about:
- Developing capabilities of innovation
- How to tackle sustainability in a diverse company portfolio?
- Need for more cooperation between academia and business life
Strategy as Practice - Incumbents in a Fast-Changing Environment
Listen and learn
Kjerstin Braathen is the CEO of DNB, one of the largest financial service providers in the Nordics. She has been part of DNB since 1999 and was appointed CEO in 2019.
Espen Andersen is an Associate Professor in Strategy and Entrepreneurship at BI. His research areas include technology, strategy, management, and digitization.
Stay Ahead with research-based insights for decision-makers
Stay up to date with the latest research and leading business practices. Come join the roundtable and listen-in on the discussions between top academic experts and industry leaders.
Sign up for our newsletter to get the latest news from BI Business Review.sign up