Innovation is a big dilemma for executives. They know they have to innovate but innovation means change, and change often means troubles.
They have the choice between “keeping peace” and compromise long term, or innovate and encounter turbulence in the short term. The subject is especially sensitive in companies who operates in very regulated sectors, such a bank, where risk zero is the rule. But in the other hand they know inertia will bring nothing but failure.
HSH Nordbank Managing Director, Manfreid Reif, decided to open an internal blog where all employees could discuss about how the company is run. Such an atypical approach of innovation and improvement is at least surprising in banking industry. Reif’s explanation is that innovation is vital and if you focus on rules you will never innovate. So his belief is to think about innovation first and, then only, think about rules.