HBS Case Innovation and Collaboration at Merrill Lynch

Better Essays
In a rapidly changing world, organizations need to continually identify new opportunities beyond existing competencies if they are to survive and prosper. Customers also increasingly want customized products. Customer service has become a hygiene factor and customer loyalty is now being driven by faster innovation, rapid concept-to-market and product co-creation. This has led to the extension of the collaboration paradigm to customer facing functions in the supply chain, namely the product design and prototyping phase. Collaboration is becoming a new and important source of competitive advantage.

Historically, analysts in the investment bank tended to work independently. Especially, in the beginning of 1990s, the globalization overwhelmed
…show more content…
To achieve the further successful innovation and collaboration, there are many important things Browning as the director of the research department should have thought about.

As a leader for change, Browning should set the theme by communicating inspiring visions, which provide a picture of the future combining poetry and prose, imagination and pragmatism, drawing on destination, dream, prize, target, message, and first step�. So, first, as a leader Browing must be secure about team 's charter, mission, goals and objectives to team members. And employees must believe a certain level of individual effort will lead to achieving the corporation 's standards of performance. So Browing should set stretch goals which they energize people. And Browing must confront the key questions that must be answered and then communicate the inherent truth that inspires. The communication of that inspiring vision is arguably the indispensable condition. So For this, he should launch internal website for his innovative project and this website will help team members expedite project 's vision communication as well as timely information access. To be specific, formally, the analysts can share information about each sector regularly through email, e-news letter, and regular cross-sector meeting. For example, the equity analyst can have the summary about current bond market or derivative market weekly or biweekly. Also, through inner-information
Get Access