The next wave of strategy - with Carsten Egeriis

Why strategy falls apart without culture and purpose

As part of our ongoing series “The next wave of strategy”, ReD partner Martin Gronemann speaks to Carsten Egeriis, CEO of Danske Bank, on why strategy must be rooted in culture and purpose. He also speaks about setting a new strategic direction for the bank after a period of turbulence, how culture can be leveraged as a competitive advantage, and why what matters can’t always be measured.

Watch the video below.

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THE NEXT WAVE OF STRATEGY

At ReD, we have been developing a new perspective on strategy in collaboration with Roger Martin, one that extends beyond economic optimisation and user-centricity. Building on these two pillars, this new approach to strategy also incorporates understanding complex social dynamics in order to sharpen a company’s perspective on the culture or “world” they’re operating in, and in turn, unlock growth. In this video series, we hear from leaders on why this is the way forward.

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 “I think it doesn't work if you can't connect the strategy with a purpose. And obviously good results reinforce that purpose and the strategy and so forth. If you just sit and you're building a strategy, but you don't have a purpose, you don't have culture.”

“The strategy, the direction is quite easy to copy. What is incredibly difficult to copy is the culture, the behaviours, the energy.”

“And we said, look, we want a business where we're transparent, where everybody can raise their hand and say when things are not working. And not just that we ask to do it, you have to do it.”

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