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Financial Service Providers can Align Strategy to Competitive Environment to Influence Change

Posted on Aug 28, 2012

If the events of the last few years have demonstrated anything about the financial services industry, it would be the unpredictable nature of the market and the ability of key businesses to influence change.  In order to be a leader in the financial services sector, your organization needs to align its strategic planning style to better match the competitive environment. 

A study by the Harvard Business Review indicates that while many businesses understand the need for aligning their strategic planning to match the competitive environment, their actual assessment of the current environment was off.  Far too often businesses are employing strategies suited only for predictable and immutable industries.  Perhaps this is why HP is struggling to adapt to a rapidly changing technology environment.

Martin Reeves, a contributor to the Harvard Business Review, recently published survey results of a 120 companies around the world which clearly illustrates the disconnection in certain sectors.  A diagram of the results is available in the full article in addition to a survey provided on the site which allows you to answer a few questions and see how well your own organization has aligned strategic goals to the competitive environment.

See the Full Article at Harvard Business Review Blog – August 2012