1. What's your viewpoints in innovation capability in the following dimensions? What are the strengths and weaknesses
of each of the below? What are the effect on a firm's performance? Kindly elaborate one by one.
Please rate on a 5-point scale (5-Very Important, 4-Quite important, 3-Neither important nor unimportant, 2-Not quite
important, 1-Not important at all)
a) The participatory leadership culture
b) The ideation and organizing structures
c) The work climate and well-being
d) The know-how development
e) The regeneration
f) The external knowledge
g) The individual activity
PLEASE PROVIDE RESPONSE FOR THE BELOW RESPONDENTS
2. How would innovation capability link to Hang Seng Bank’s strategy and vision?
Hang Seng bank mission is to exceed customer expectation by providing excellent service and their core values are integrity, innovation and financial strength. Strategy of Hang Seng Bank is to engage with its stakeholders and optimise long-term outcomes of business and stakeholders. Innovation capability is linked to bank’s vision and strategy, as innovation is core among the core value of the banks. Innovation alignment to the strategy is necessary to be sustainable in the market.
One of the driving forces of our bank is the adoption of innovative strategies and vision. The adoption of e-banking, e-learning approaches, iPoint services, and latest technologies like AI based chatbots, Samsung pay, etc. are all the innovative features of the hang seng bank’s strategy and vision. And the most important thing is that we are constantly making changes to our strategies according to the need of the modern world.
Heng Seng banks;s strategy and vision is to engage all the stakeholders to achieve sustainable success. The main motive and aim for Heng Seng bank is to be profitable and growing business by meeting and exceeding the needs of its customers. Innovation capability is necessary to achieve these targets. Therefore, we should adapt innovations in technology and management systems to achieve our goals.
3. What's your perception on the current usage and importance of the below three innovation capability approaches in Hang Seng Bank? How important are they from your perspective?
a) The bottom-up learning-by-doing approach
b) The top-down directed approach
c) The non-directed approach
All three approaches of innovation capability in innovation process are important for the bank in innovation development and currently process is integrated in term of these approaches for innovation capabilities. Clear direction is proactively provided to employees for their behaviour and need for innovation is understood by all the employees. Behaviour of employees is shaped in order to realize them about need for innovation and they are committed to the organization in order to get innovation in the organization.
Understanding the concerns and needs of the clients is the key factor of our efforts to construct a successful and viable business. We embrace both top-down and bottom-up approaches and utilize various channels to engage clients, workers, shareholders, dealers, investors, supervisory bodies and the broader community. Our approach is that we believe in the significance of service and placing stakeholders at the core of our policymaking process.
Our department is dealing quite well with technology. Being in a managerial position, our departments are given sub goals to achieve the major goal of our bank. We are incorporating innovations in our system and work style as per our feasibilities. The process of innovation in our bank is well fragmented, open minded and communication-interactive. Every employee in our bank has a say and can share ideas openly with management and staff.
4. How do you feel about the ideas of "employee-driven innovation" and "feeling responsible for generating ideas"? How important are they on a 5-point scale? (5-Very Important, 4-Quite important, 3-Neither important nor unimportant, 2-Not quite important, 1-Not important at all) Please explain.
PLEASE PROVIDE RESPONSE FOR THE BELOW RESPONDENTS
5. How do you feel about the current situation in your department? Do you think the innovation process is fragmented, ongoing, open-minded and communication-interactive? Please explain your answer.
Innovation in the process is among the core competencies in the Hang Seng Bank and innovation process in our department is efficient. Creative ideas are encouraged by the organisation in order to be innovative and competent in the modern business world, where competition is very intense. Current process of innovation in my department is efficient and satisfactory as we inspire employees to come up with new ideas to improve and enhance our services.
Good business social responsibility is not an expiration goal, but a continuing procedure that needs observing, upkeep and a readiness to struggle for repetitive development. The progression of innovation at our bank is open-minded and we are functioning hard in the zone of product innovation that is developing products on account of clients’ varying requirements and market trends.
The current process of innovation in our organization is well designed and flexible. Currently, we have started innovation process in several departments of our bank. So far, the results have been positive and encouraging. Only thing we need to be concerned about is that we should not over do things in little time. We must understand, innovation is an ongoing and steady process. To get maximum benefit for ourselves and deliver highest value to our customers, we must align every innovation process to main aim of our bank.
6. Do you think innovation process in the company is becoming more open or it needs to be more open? What is the current status? What should be done? Anything that can be done in future? Why?
Currently, innovation process in the company is satisfactory as it appreciate the innovative and creative ideas which add value to the customers. Innovation process is open enough for improvements and advancements in the services, which are provided to customers. Hang Seng Bank focuses on continuous improvement in operations and it is the reason for efficient process on innovation in the company.
The process of innovation is, of course, never-ending. We are becoming more open in terms of innovation. We are striving hard continuously to provide what is needed by continuously improving and modifying our strategies and services and by implementing novel technologies in our services. Our next move is to present more fintech and digital services for the corporate and clients, observing various clients would like to utilize these innovative services.
E-services of our bank has always been up to the mark and convenient for our customers. our bank has always focused on increasing its capabilities to incorporate new technological innovations and provide premium E-services to customers. I am personally very certain that our organizational capability to develop and enhance e-services is directly linked and aligned with our business strategy.
7. What’s the existing organizational capability in developing the e-services? Do you think they can cope with the business strategy?
Hang Seng Bank is involved in providing many e-services to their customers, which includes mobile banking, online banking and many other e-services. Current organizational capability of development of e-services is good enough to cater the needs of customers. Company is continuously working on innovation in different processes to offer customers more value and unique services in order to be competitive in the market.
We are continuously working on the replacement of the old fashion banking practices and the adoption of e-services is assisting us in this regard. Our e-services like fintech, ipoint, AI-based chatbots, e-advice, e-learning, e-alert, e-check services, etc. are all benefiting us and our clients. The training and development program by the experts at our bank is also aiding us in further enhancing our innovative services. We are forward thinking bank and are modifying our services as well as strategies accordingly.
Heng Seng bank is one of the largest banks of Hong Kong and contributes a lot to the economy. Many firms are dependent on our performance. We have beebn applying incremental innovation type in our organization to maintain stability in the market and amongst our stakeholders. We believe in continuous need to strive for better change. Therefore, we have been doing well with incremental innovation processes in our organization.
8. Is Hang Seng Bank good at radical innovations or incremental or evolutionary services? Why?
Hang Seng Bank support any kind of innovation for their service and business processes. Services and processes are continuously improved and disruptive innovation is required by bank in order to gain competitive advantage in the market. Hang Seng Bank is currently at stable position in term of innovativeness in the organization and employees are motivated to come up with new ideas for innovation in operation and services.
In our bank, examples of all these innovation services are present but regarding, what we are good at, is radical innovation and that can be viewed from one of our key moves that were the implementation of fourth-generation (4G) E-banking policy that acknowledges us to shape novel services and features throughout various Operating Systems and devices. We attained this by moving up with the trends in the banking area instead of just improving our technological abilities. The exploration and exploitation of novel technology are difficult and we have many examples of effective and successful implementation of these innovative services; thus, this is the reason why I said that we are good at radical innovation.
Our management have brought multiple developmental innovations in recent time. Our bank has brought innovation in our services by launching our existing products online and implementing e-service growth strategy. Overall, our developmental innovation capability has enabled us to innovate our banking service, which provides us with great future opportunities. We have also launched and implemented insurance and investments services online as a part of our developmental innovation process.
Staff Interview Transcripts Assignment, Job Assignment Help, Staff Management Assignment Help, Business Homework Help, Strategic Assignment Help, Consumer Behaviour Assignment Help, best accounting assignment Help, best online uk essay writing
Holding a PhD degree in Finance, Dr. John Adams is experienced in assisting students who are in dire need...
55 - Completed Orders
Canada, Toronto I have acquired my degree from Campion College at the University of Regina Occuption/Desi...
52 - Completed Orders
Even since I was a student in Italy I had a passion for languages, in fact I love teaching Italian, and I...
102 - Completed Orders
To work with an organization where I can optimally utilize my knowledge and skills for meeting challenges...
109 - Completed Orders
JOB OBJECTIVE Seeking entry level assignments in Marketing & Business Development with an organization...
202 - Completed Orders
Current work profile Project manager- The Researchers Hub (2nd Jan 2016 to presently working) Researc...
20 - Completed Orders
Sales Assistant, Mito Marina Assigned to the Stationery dept – assisted in merchandising, stock taking...
100 - Completed Orders
Personal Profile Dedicated and highly experienced private chauffeur. High energy, hardworking, punctua...
200 - Completed Orders
I'm Lizzy, full time education specialist in English, Essay Writing, Economics and Maths. Having Assi...
109 - Completed Orders