For senior executives facing the turbulence of today’s financial crisis, reducing the cost base of their business operations now sits squarely at the top of the agenda. After decades of product and service variation, channel diversification, geographic and operational expansion, all supported by layers upon layers of technology, many institutions are finally compelled to deal with a fundamental reality: their businesses are overly complex for the value they generate.
Not only is this excess not valued by customers, it actually impedes value delivery by limiting the sales force’s ability to respond, increasing service and fulfillment costs, compounding operational risk, and making the organization more unwieldy to manage. The siren call for a simpler “core business” approach, incorporating elements of modular design and industrial engineering is being heard across the industry.
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