Today’s business environment often demands complex, high-risk change efforts such as aggressive cost reduction, ambitious revenue enhancement, or bet-the-future turnaround programs. But the traditional project management office (PMO) is better suited to running departmental projects on time and on budget than to managing complex, interconnected, cross-enterprise efforts. What’s needed is an SIO—a strategic initiative office that focuses on organizational alignment and value delivery. The authors explore which circumstances merit an SIO and offer guiding principles for success. Read
As corporate banks shift their priority from damage control to seizing opportunities created by the global financial crisis, they must first grasp the megatrends that are shaping their industry. Then they must take bold action to become truly “blue chip” institutions. BCG’s fourth report on the global corporate-banking industry outlines the specific steps that institutions must take to learn from the crisis, use it to their advantage, and become industry leaders capable of dominating rivals.
As the global economy’s prospects have brightened, companies have turned their attention from cost-cutting to growth—and to innovation, a key driver of growth. This article offers insights on how companies can become more innovative, with a particular focus on how they can optimally leverage information technology in that pursuit.