A well-respected investment firm approached us to research the uptake of social technology in their sector, in order to better prepare for – and manage – the rapid technology-driven changes occurring in financial services, in the wake of the market upheavals of 2007-08. A central part of our research aimed to identify the key trends affecting investment management, evaluate their impact, and forecast how these were likely to affect this firm’s market positioning, product development and service strategy. Our approach also focussed on the firm’s operational readiness and how it could develop its ‘sense & respond’ capabilities to address new markets, with the longer-term aim of developing an effective social strategy driven by the centre, while ensuring strategic alignment across multiple geographies and service lines.

The research included:

• In-depth competitive benchmarking and horizon scanning;
• Original research, covering the opportunities and threats for financial services in the ‘new normal’ of VUCA business conditions;
• Interviews with board members and research on existing social business activities;
• Mapping the firm’s current and future social business ecosystem and digital business stakeholders;
• Highlighting key industry-specific ‘good’ and ‘bad’ practices in digital;
• Strategy development and detailed implementation plan for future activities; and,
• Innovation process consulting across multiple business lines.