"They hasten to their end who think themselves so strong in existence", sings Loge at the end of the previous evening in Richard Wagner's tetralogy "The Ring of the Nibelung". The gods and their entourage still had three operas to free themselves from the entanglements of their politics, which were based on hubris and resistance to advice, and to make a new world model possible. The majority of the ring players, however, defend the old world order and prevent the transformation necessary for survival - and everything goes down in the last opera.
In any case, this need not be the case for banks. However, today they are facing challenges of historic proportions. Never before in their more than 150-year history have savings banks and cooperative banks experienced a disruptive and simultaneous near-zero interest rate level with a flat yield curve, a profound loss of trust, a highly complex risk situation, significantly radical new competitors with zero marginal cost opportunities, the emergence of substitution competitors, a sharp increase in bureaucracy and control costs, completely new entrepreneurial issues due to digitalization - "digital Darwinism" according to T. Kreutzer - and all this with excessive personnel and material costs.
Extensive branch closures, staff reductions and mergers alone cannot adequately solve the problems that lie ahead. Especially if the systematic framework data does not change abruptly in favor of the banking industry.
In his many years of specialist and management work at a major bank, a savings bank and a manufacturing world market leader, Prof. Renker has developed, transformed and implemented corporate concepts and, as head of banking conferences for EUROFORUM and Handelsblatt, has shared his insights in lectures.
Now, due to the severity of the challenges facing the banking industry, in a recent publication entitled "The future of credit institutions - it's the business model that counts" (see the IFME paper at Qucosa of the SLUB, among others), he draws particular attention to the opportunities presented by the current crisis. The reorganization of credit institutions appears to be urgently necessary, but also possible as long as the window for the transformation of business models is still open. However, innovative, effective and efficient solutions must be sought quickly at all levels of the banking business models - including total transformation through an integrative change management process.
Further information: http: //nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-186381
Contact:
Faculty of Business Administration and Engineering Management
Prof. Dr. Clemens Renker
Email: c.renker@hszg.de