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Drivers and Passengers of Change

The premise of the challenge question is that today’s teens are drivers of change. When examining how this group will influence the financial services industry in Canada, consider who the passengers of change might be. Allow me to explain by way of analogy.

Suppose you are asked how baby boomers will influence social services in this country over the next twenty years. Due to the sheer number of boomers, you might contend that as they age, demand for health care services will inevitably increase. If resources allocated to health care do not increase in equal proportion, boomers might experience a reduction in health care quality. But they wouldn’t be alone – all other groups would feel the pain equally. Conversely, if governments bolster health care programs to meet the demand caused by aging baby boomers, they might create a legacy of health care excellence for generations that follow. In both cases boomers drive change, but the effect on passengers varies dramatically.

It is important to consider the ripple effect of teen influence when developing your submission. Financial institutions may be driven to change by today’s teens, but other client groups will likely feel the effect. Think about passengers – as well as drivers – when developing your idea.

Posted by Nelson T. on November 4, 2006 11:31 PM

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