Document Type

Conference Proceeding

Publisher

LUT Scientific and Expertise Publications

Faculty

Faculty of Business and Law

School

School of Business/Centre for Innovative Practice

RAS ID

16638

Comments

This article was originally published as: Fahrudi, A. N., Gengatharen, D. E., Suseno, Y. , & Standing, C. (2013). Contextual support for innovation in an Australian financial services firm. Proceedings of ISPIM Innovation Symposium (pp. 15). Melbourne. LUT Scientific and Expertise Publications. Original article available here

Abstract

Organizational learning can facilitate innovation and it is affected by internal and external contexts. Leaders can provide internal contextual support for learning to occur in the organization in order to respond to changes in external contexts. However, there are limited studies about how leaders affect innovation in financial services firms. This paper applies Crossan et al.’s (1999) 4I framework to examine the impact of internal and external factors on an organization’s learning process and the extent of its innovation. An on-going case study of a large Australian financial services firm is used to gain insights about contextual support for innovation. Competition in the industry has increased through the introduction of IT-enabled innovation but innovation is limited by bureaucracy, risk-aversion and regulatory-driven reliability. The study shows that leaders in such organisations can support IT-enabled innovation through vision, organizational culture, an agile methodology, activity-based working environments, and technology that supports innovation.

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