• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Gbaf News

    Posted on June 17, 2016

    Featured image for article about Top Stories

    Whereas businesses were likely to consider human capital, reputation and customer capital as the assets with most strategic value, in 2016 innovation has started to take the lead. To this end, Deloitte has participated in a seminar on innovation in corporate governance conducted by the Kuwait Economic Society. This and other insights on Innovation in Corporate Governance were highlighted by Rami Wadie, Deloitte Enterprise Risk Services (ERS) Partner and Middle East Leader of the Deloitte Center of Corporate Governance.

    Key findings from the Deloitte Innovation Survey include the following:

    • 96% of respondents consider innovation to be among the top five strategic priorities, with more than a fifth of companies classifying innovation as a top priority.
    • Two thirds of respondents innovate in order to grow or differentiate themselves from the competition.
    • More than half agree to have a well-defined innovation strategy.
    • More than 40% of respondents say that they have a well-defined action plan to execute and implement their innovation strategy.

    Wadie discussed organizations’ discipline around innovation and how disruptive thinking is becoming sharper. He also discussed the methods by which innovative ideas should be measured, the ways in which enhanced governance would contribute towards innovation and growth of an organization, and the responsibility of internal audit in relation to the same.

    “The results of the Innovation survey show that businesses are aware of the strategic importance of innovation, although there is still some way to go to seeing sufficient implementation of any such innovation so that its value has impact,” explains Wadie. “Today’s companies exist in a climate where strategic risks – those that either affect or are created by business strategy decisions – can strike more quickly than ever before. This means that companies that fall behind on the innovation curve may quickly fall prey to what is seen as innovation’s evil twin – disruption.”

    “Boards need to ask critical questions such as, What will our customers value most in 3-5 years’ time?, Are we investing today to deliver on our customers’ future expectations?, How are we as board and management governing the innovation process?, among many other questions,” explains Wadie. “Best practices in this area would entail companies appointing dedicated innovation managers or chief innovation officers, regularly reviewing and discussing the company’s innovation strategy and risks, and requesting management to conduct innovation audits and to report on innovation performance”.

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe