This document explores the concept of innovation in the financial sector, discussing its various forms, including technological, organizational, and social innovation. It examines how innovation can contribute to the development or conversion of Quebec's economy, providing examples from the banking sector.
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[...] Schumpeter Theory Another major theory recognized in history, Schumpeter's vision of innovation, he was a pioneer and his studies are often revisited today. According to him, it is necessary to distinguish the role of the innovative entrepreneur and the simple "operator" of a non-innovative company. We then see two major concepts, important in Schumpeter's analysis, the circuit, in which operators simply use the production possibilities, the combinations of factors already existing for management purposes. The concept of evolution implies that real entrepreneurs, innovators, try new combinations to 'change the game', to generate a profit, rather than just a salary. [...]
[...] The actions of each individual reflect their experiences. They develop needs and expectations for society, technologies, products and services, and organizations. Therefore, it is necessary to analyze the innovations that arise from their experiences. In Quebec, there is a company that has migrated to the knowledge economy. The populations are increasingly educated to succeed in their careers and meet the expectations of recruiters. The expectations of young people are high, employers expect them to be trained to develop and innovate within organizations. [...]
[...] It has allowed its customers to access information and exchange at a distance. In addition, to accompany the changes, the bank has invested in the development of new internal platforms accessible to employees. These technological reforms were accompanied by numerous training sessions for employees to adapt and learn new working methods, which is certainly not an easy task for many employees. (Sarnin Philipe, 2010) The old methods and old habits must be changed in order to evolve. In the financial sector, technological innovation is constant, as new innovations are always coming. [...]
[...] The goal is to share experiences in terms of technological development, work organization, and HR management. The interest is the acquisition of new skills or new knowledge. Many workers in banking institutions perform different missions and acquire expertise that allows them to meet the expectations of the client. They explain during meetings how they manage to stand out and innovate in their field. Regarding work organization, actors from various services debate and give their opinions on the new processes put in place. [...]
[...] The technological innovation we have known since the last decade is happening rapidly. Veblen's technology determines the pace, nature, quantity, and quality of production, makes human labor productive, and gives economic value to natural resources and raw materials. Therefore, Quebec companies must be at the cutting edge of technology to remain competitive in the face of global competition. It is therefore necessary for these organizations to innovate in order to stand out. It is necessary to change the methods of work and apply new methods of work and to be inspired by countries that are doing well or that have innovative working methods (including Japan). [...]
