Make or Buy: What’s Really Transforming the Superannuation Value Chain
Compulsory superannuation turns 25 this year and one exciting development is how superannuation funds no longer simply occupy their place in the broader ecosystem, but are actively reshaping this ecosystem. While there is much talk about how scale, demographic shifts and “fintech” potential will define the industry’s future, the future is in fact being defined by a series of more foundational, strategic business decisions: what the corporate literature refers to as “capability sourcing”, or each fund’s decision to make in-house or buy externally the capabilities they need. Superannuation funds are making the most of a “push to pull” paradigm shift where, instead of having structures and processes “pushed” to them, funds have become the centre of gravity in the ecosystem and can “pull in” what they want, how they want it and who they want it from.1
1This “push to pull” paradigm shift language has been adapted from an on-line discussion of the global corporate environment in “The Golden Opportunity of Paradigm Shifts.” THINK School of Creative Leadership, www.innovationmanagement.se.