Print Email Facebook Twitter Modeling innovation in complex large-scale financial organizations Title Modeling innovation in complex large-scale financial organizations Author Das, P.A.C. Contributor Verbraeck, A. (mentor) Oey, M. (mentor) Verburg, R. (mentor) Faculty Technology, Policy and Management Department Systems Engineering Programme SEPAM Date 2013-12-19 Abstract In this thesis, process models for innovation in complex large-scale financial organizations are contrasted with models in literature. As a result, elements which should be included in process models for innovation to increase the innovative capacity of these organizations are presented. To illustrate this, research was conducted at the ING Customer Experience Center, part of ING Operations and IT Banking. ING, a premium bank in financial services is subject to specific dynamics in its environment that affect the innovative capacity of the organization. The structure of the organization proves to be very complex (i.e. a system with multiple interconnected elements and different ways of operations) which complicates institutionalization of processes models. Core competence of these premium banks in current society is trust and for this reason the organizations are highly risk-averse in delivering new products, services and business propositions Specific enablers and barriers in the organization are present that affect the innovative capacity of the organization. Coordination mechanisms that evaluate on output prove to be perverse tools for innovation and operational excellence within organizations should be integrated thoughtfully with innovation to reduce the lead-time for delivery. A process model can only be successful if a culture, divisional climates and resources are created that allow for innovation. Leadership in the organization has to envision innovation and create room for corporate entrepreneurship, only then will a process model for innovation function and can the innovative capacity of an organization increase. In addition, a process model should have a spiral character that emphasizes the continuous and evolutionary effort of innovation. No beginning or end of the process is present and failures may lead to success in other environments. When focusing on early problem structuring and determining objectives, organizational strategies and potential futures, progress and substance of the endeavor is believed to be achieved. Uniform, adaptable, flexible phases and process steps are required to allow for feedback and feed forward and quickly evaluate on feasibility of the effort. In this way the model can be fit to specific contexts, environments and project scales. A note is that radical innovation is not likely to be linked to organizational strategies and core competences, and thus will not likely flow through models. A process model for innovation can only be supportive if innovation is institutionalized in the genes of the organization. Hence, innovation should be supported and facilitated by top management directly. Differences between modeling of innovation in practice and theory is the fact that models are subject to specific organizational and environmental dynamics. A design of the elements which a process model for innovation should include, is constructed and in this model it is important that the continuous and evolutionary character of innovation is emphasized. By performing transparent decision-making and involving business management teams, external knowledge partners and employees; it is believed that the complexity of the process for innovation will be clarified and the effectiveness and efficiency of the endeavor will increase. Moreover, a culture for innovation should be created and a process model should not be coordinated on output, but on throughput. This requires proper knowledge capturing tools which should in addition focus on increasing collaboration with external knowledge partners to further integrate the external and internal environment. Subject process innovationmodeling innovationfinancial services To reference this document use: http://resolver.tudelft.nl/uuid:c7e5eb84-f9ed-4aa1-9064-943b19102598 Embargo date 2014-12-19 Part of collection Student theses Document type master thesis Rights (c) 2013 Das, P.A.C. Files PDF Patrick Das_1519409_MSc T ... 230114.pdf 4 MB PDF Patrick_Das_1519409_MSc_T ... 121213.pdf 46 bytes Close viewer /islandora/object/uuid:c7e5eb84-f9ed-4aa1-9064-943b19102598/datastream/OBJ1/view