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Shift Happens
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Greg MacSweeney
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Greg MacSweeney,
User Rank: Author
10/24/2014 | 1:39:48 PM
Re: shorter and shorter competitive advantage
Bryan, trading is the extreme example. But just think about payments. ApplePay just launched this week, but competitors have been scrambling since Apple made its announcement a few weeks ago to offer similar technology and services. It doesn't take long to develop new apps or technology anymore.
Byurcan
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Byurcan,
User Rank: Author
10/24/2014 | 11:04:47 AM
Re: shorter and shorter competitive advantage
Yes, that's very true, speed to market is critical, especially when it comes  to the trading and investing world, as you note.
Greg MacSweeney
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Greg MacSweeney,
User Rank: Author
10/23/2014 | 4:17:33 PM
shorter and shorter competitive advantage
I think your point about the compressed development time, as well as the compressed time that a product has a competitive advantage, is very important. For some financial services business lines, the competitive advantage for a new product may be a few months or weeks. In trading or investing, the competitive advantage is sometimes lost in minutes, as competitors quickly copy the strategy. Yes, Shift and Shift again!
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
10/23/2014 | 4:15:19 PM
Re: Great article, Sam!
Financial services organizations haven't been tradiitonally built on the ability to "pivot" quickly though. And that's partially been because they want stability to be a big part of their brand image to consumers. They also want innovation now to be part of their brand image, but it's hard to pull off both.
Byurcan
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Byurcan,
User Rank: Author
10/22/2014 | 9:50:25 AM
Re: Great article, Sam!
Very true. All industries must constantly be evolving, especially as the rate of innovation increases as tehcnology becomes more powerful. Especially in financial services, and industry that newcomers are trying to "disintermediate" all the time.
JenniPalocsik_Verint
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JenniPalocsik_Verint,
User Rank: Apprentice
10/21/2014 | 3:57:36 PM
Great article, Sam!
Thanks for sharing your experience from the event - and also for sharing the presentation on slideshare in particular.

In your presentation, I especially liked the Will Rogers quote as it reinforces your point quite well, I think. Shift happens. And shift happens. And again and again. As consumers we learn about new technology and ways of interacting, and similarly as organizations we cannot stand still - we must continue to evolve our products, our services, our technology, and our "way of working." Expect the unexpected and be ready for change...as the next shift is [always] right around the corner.


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