The elusiveness of service innovation

In a commentary, SMU Adjunct Faculty and NPS International School Director Bala Shankar commented that a 'new' form of customer experience would cause a significant change in consumer habits. Citing the examples of the banking and telecom industries, Prof Shankar noted that service sectors worldwide are doing the heavy lifting in most economies, and yet, the big innovation seems like an elusive commodity, unless it is induced by technology and the Internet. These are in the realm of "mechanisation of human actions" with benefits of enhanced productivity, repeatability, data recording ability and error-free transactionability. On why profound (as opposed to incremental) service innovation should be so elusive, Prof Shankar believed that the answers lie both in the mind-sets and in execution flaws.

Source
The Business Times