Fidelity Investments: adopting new models of innovation

Abstract

Purpose

This case aims to describe what innovation looks like and how it works in Fidelity Investments, a financial services organization that is large and decentralized.

Design/methodology/approach

The case looks at how the firm's internal consultants introduced idea‐management systems, idea‐management contests, design thinking, open innovation, innovation tools, coaching and mentoring and new innovation processes

Findings

The study show that internal consultants made progress by demonstrating that different ways of thinking through business problems could lead to better solutions without making a huge investment of resources – people, time, and budget.

Research limitations/implications

The implementation results findings are based on first‐hand reporting by the author.

Practical implications

The combination of internal consultants and business unit champions learned to create a home for innovation that focuses and leverages impact.

Originality/value

This case explains how the internal consulting unit charged with disseminating innovation processes developed the trust and cooperation of the company business units.

Citation

Bukowitz, W.R. (2013), "Fidelity Investments: adopting new models of innovation", Strategy & Leadership, Vol. 41 No. 2, pp. 58-63. https://doi.org/10.1108/10878571311318259