Staying on top of the business game

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 

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