IDEAS home Printed from https://ideas.repec.org/h/spr/mgmchp/978-3-319-76394-1_3.html
   My bibliography  Save this book chapter

Strategic Choices for Growth

In: Open Innovation Ecosystems

Author

Listed:
  • Daniel Fasnacht

Abstract

The changing businesses in the financial services are gaining momentum mainly due to rapid developments of digital trends. For firms to prosper, they need a profound understanding of growth and profitability. We analysed the largest banks in the world and found that they are much less profitable as they appear to be. Growing profitable and faster than investors expect is vital for listed equity firms to get further investments and gain competitive edge. Our case studies corroborate the meaning of profitable growth and explain how wealth manager can become really big. We discuss acquisitions, global expansion strategies, but also the importance of a strong brand value. What history and reputation are for financial centres, the imperatives for asset managers are size and scope. Firms such as BlackRock and Vanguard but also the growing sovereign wealth funds dominate the industry. Firms must address growth and innovation at the highest possible level to gain competitive advantage. Thus, we suggest appointing chief officer roles to foster growth. Finally risks increase exponentially with every participant in the ecosystem. Incumbents that manage an innovation portfolio, including internal projects and external businesses, must apply risk management measures like the venture capital industry.

Suggested Citation

  • Daniel Fasnacht, 2018. "Strategic Choices for Growth," Management for Professionals, in: Open Innovation Ecosystems, edition 2, chapter 3, pages 69-95, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-319-76394-1_3
    DOI: 10.1007/978-3-319-76394-1_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:mgmchp:978-3-319-76394-1_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.