When the opportunity arises to create a new product or service within an organisation, the excitement can sometimes be short-lived. Rolling it out within the often bureaucratic constraints of the business hierarchy means enthusiasm quickly turns to frustration.
However we have seen a lot of examples of success when an organisation understands that people and culture change is as important as the new product itself. In the digital space this is when organisations truly start to reap the rewards of digital transformation.
Nedgroup Investments is one such company that realised the importance of bringing its key stakeholders together with a shared vision, in order to launch a new division within the organisation. One that would adopt technology aggressively in the already competitive FinTech space.
The WWC team worked with the Nedgroup Direct team and other key personnel from within the group, to create a new vision, identify enablers and disablers within the group and to action a different way of working outside the usual hierarchy. A hierarchy firmly established within a 130-year old business.
Creating Urgency Around Design Thinking
The first step was to help create the urgency around the opportunity so everyone understood the need to change at both a head and heart level. Using design thinking we then created a vision and explored how this opportunity could best be realised and what needed to change in order to make it happen.
The practical process of identifying the action needed helping to galvanise the senior team and create unexpected volunteers to help make the new offering a reality.
It’s pretty simple, the 80/20 principle says that the minority of your effort leads to the majority of your result. The team used this principle to identify the action that would have the biggest impact with the least effort. The importance of this is small wins start to drive momentum. The more small wins, the lower the number of no-sayers.
The new business division is now leading the way, experimenting with new technologies to improve customer interaction and service. They realise both People and Tech are the drivers to true digital success.