Continuous Innovation and Improvement

at Fidelity Investment

Applying emerging technologies, leading in customer service innovation and practicing  Kaizen

By: Vadim Kotelnikov, Founder of Innovarsity, Ten3 Business e-Coach and Fun4Biz

 

FCAT Approach
Identifying the Right Tool For the Job

Philosophy

  • Theories on innovation abound, but no single tool, process, or technique works in all situations

  • Some practices outperform consistently, others outperform in certain situations

  • Identify the right practices for the situations Fidelity faces

Activities

  • Ongoing research and conversations

    • Track developments in the field

    • Summarize implications for Fidelity

    • Engage in a conversation with Fidelity stakeholders

  • Business engagements on specific topics

    • Consulting and pilot projects

Examples

 

About Fidelity Investments

Fidelity Investments is one of the world’s leading financial institutions. The company is the largest and best-known mutual fund manager in the United States. Fidelity is also the leading provider of retirement plan services to corporations and a leading online brokerage firm.

Systemic Approach To Innovation

 

Fidelity investments defines innovation as the “process of creating and delivering new customer value” Innovative customer value is found at the intersection of client needs, enterprise objectives and emerging technologies

Fidelity Investments is committed to customer focused innovation and leverages emerging technologies to create customer value. The company designs their innovation process holistically and integrates many parts of the whole field of innovation into a single overarching strategy.

Fidelity Center for Applied Technology (FCAT) is a unit of Fidelity Investments. FCAT’s vision is to serve as Fidelity’s idea and innovation catalyst, helping Fidelity’s employees and businesses to imagine and realize the possibilities of emerging technologies and new ideas. FCAT also monitors technological developments globally and applies many of emerging technologies, including social networking, in the corporate environment to enhance the user experience and improve business results. FCAT “Idea Ecosystem” includes such idea sources as employees, consultants, conferences, venture capital firms, think tanks, customers, leading companies, interesting small companies, government, trade associations, and academics. The FCAT Strategy Map articulates how the Center plans to deliver business results

Innovative and truly superior marketing and service have made another business unit Fidelity Funds the dominant player in a business where it was once an also-run.

Commitment To Continuous Improvement

Fidelity Investments is the market leader because of its commitment to continuous improvement (Kaizen).

Fidelity's commitment to Kaizen is reflected in its performance management and compensation systems. Each fall, Fidelity companies establish business goals for the coming business year. These goals are tiered through the company's various divisions down to the individual manager level. Many of these goals are focused on improvements in existing products or processes. Progress towards goals is evaluated and adjusted on a monthly and quarterly basis... More

 

Discover much more about best innovation and continuous improvement practices

in the mini-courses 

3 Strategies of Market Leaders

Systemic Innovation

Continuous Improvement Firm (CIF)

Winning Customers

 

Kaizen Mindset

Kaizen and Kaikaku

Kaizen Culture

Quick & Easy Kaizen

Kaizen and Radical Innovation

Fun4Biz Suggestion System