Connect with us

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. .

Business

Technology and values are essential to future business model innovation, says ACCA

Technology and values are essential to future business model innovation, says ACCA

In today’s ever changing world, organisations are using business model design to build unique approaches to creating value that have the potential to radically disrupt industries.

A new report published today by ACCA (the Association of Chartered Certified Accountants), Business models of the future: systems, convergence and characteristics, identifies 12 characteristics behind business model design, that are being combined by organisations in different ways to create new sources of value.

Jimmy Greer, head of sustainability research and policy at ACCA and author of the report said, “New tools mean that business model innovation is easier to achieve than ever and organisations are using multiple models in different ways for value creation. But the challenges of today’s world demand a wider, more systemic view.

“Organisational design disruptions do not occur in a vacuum. They play out across the complex landscape of economies and societies. While there have always been challenges throughout the course of modern economic development, as long waves of technology ebb and flow, social institutions underperform and environmental limits are tested, today these challenges are now emerging in new spaces”.

This report identifies 12 characteristics that organisations are combining as they build new business models. They are:

  • Multi-layered
  • Participatory
  • Platform-ready
  • Multi-capitalist
  • Purposeful
  • Data sensible
  • Boundary-testers
  • Open
  • Potential enhancing
  • Fair players
  • Convening
  • Restorative

“These characteristics lie behind the models creating organisations that are ready for the future” said Greer.

“The accountancy profession is well placed to support the growth of business models of the future that help build resilient, inclusive and prosperous societies.  The unique contribution that professional accountants can make to how a business model proposes, creates and captures value, means that they can play a meaningful, strategic role in building organisations that are ready for the future” concluded Greer.

The report attempts to answer fundamental questions; why does business model innovation matter? What is the shape of the world in which models need to operate and how do they come together to build future value? The full Business models of the future: systems, convergence and characteristics can be read here.

Global Banking & Finance Review

 

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!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post