7. Be More Swan: Strategic solutions to ‘Be More Swan.’
Having explored the complex challenges that the increasing regulatory change brings with it and some innovative approaches to managing and delivering that change in this article we review how you can navigate this complex delivery challenge to outshine your competitors.
The tidal wave of new regulation has wrought an implementation requirement that has challenged, and in some cases overwhelmed, the industry’s usual approaches to managing and delivering change. The bad news is that there will be no let up.
The good news is that the necessity of meeting the challenge has led the industry to adapt and innovate, creating new approaches to delivery to help make it a more controlled, sustainable and cost effective exercise.
Those organisations that manage to outperform their peers in this regard will find themselves at an advantage when it comes to managing client relationships, controlling operational costs and complexity, and delivering other strategic priorities. The prize is worth fighting for.
The inherent nature of delivering regulatory change is unlikely to change. It will inevitably involve large amounts of ambiguity, unpredictable workloads, moving targets, changes of direction, tactical solutions and complex data and controls landscapes. The scale of these challenges can be reduced by adopting some of the approaches we have described, but many of the techniques have focused on accepting reality and taking strategic action in order to manage around it.
The successful approaches we have seen have one important thing in common: taking a step back to see the bigger picture and applying strategic planning and project management principles in an intelligent way to develop strategic solutions. This is the surest path to taking advantage of further innovations that will surely follow.
While there is obviously no panacea, in setting out the best of what we have observed to date, we hope this helps you to navigate this complex delivery challenge.