Finance (banking) crisis and innovation
As we all know, we are (again) living the times of banking crisis. Someone blames Greece, some other blames Italy or Spain. It is correct that the public sector spending in these countries has been out of control for many years. Having said that the European Banks have also been “very innovative” in pumping large amounts of money into various projects hoping for large profits. At the same time there has been very little if any proper risk assessment, not to mention innovative risk management.
What could be done? Banking sector has been working more or less the same since tens of years or even longer. This way of operating has become business as usual. Like Richard Branson’s new book is titled: “Screw the business as usual.” So let’s screw it and try to do something new. Now I am going to make a bold statement: By applying Innotiimi’s participative methods and front end innovation concepts to investment evaluation and risk management banks could make a quantum leap in their future performance. In contrary by continuing on the current path we are just going to get more of what we already have i.e. deeper recession and credit crisis.
It is time to start-up the rescue Helicopter. What do you think?