The Race for new E-Business Models
In 1999, Allianz recognised that it was lagging in its e-business activities and needed to speed up its efforts in order to counter the attacks of aggressive competitors. Dr Friedrich Wobking, a Board member of two major business units, took the lead. He shaped the overall context for the generation and implementation of new e-business models and vigorously pushed the initiative forward.
An internal competition between two project teams was installed where the two teams sought after the best new e-business ideas. Having reviewed numerous alternatives, several new e-business models emerged. They received the approval of top management and the team was equipped with critical resources. During the following months, some models proved problematic and were put aside, while others met or even exceeded expectations. At the end of 2001, Allianz was again positioned to lead the market. However, most managers were well aware that this was only the beginning and that they must carefully nurture and strengthen these ’seeds of change‘ spreading through the firm.
There is a German translation available (D302-027-1).
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