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Disruptive Financial Innovation is the Result of Courageous Ingenuity (Palgrave)

Posted on the Palgrave blog on April 16, 2018

It takes a great degree of courage to move away from legacy conventions, whether they are processes, technologies, performance expectations, or role definitions. As human beings, we are hard wired to be apprehensive about change. Combine us into large groups – like a modern enterprise for instance – and it only seems to increase the strength with which we cling to ‘safe’ traditional approaches.

Unfortunately, the instincts that have preserved our species to the current age are the same ones that threaten the longevity and relevance of companies all over the globe every single day.

We are taught today that the right way to overcome this challenge is to innovate, trying new methods, products, ideas, etc. “Change is change! We need change!” your team may say. “We are doing something different! Mission accomplished!” The problem with this is that so much of the company’s energy goes into escaping the inertia of their preservation instincts that we don’t allocate enough brainpower to studying the changes we intend to implement.

Are we driving the right change? What do we need to accomplish? Are we thinking big enough? Answering these questions requires more than just change; it requires courage and ingenuity.

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