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The European Financial Review empowering communication globally OCTOBER - NOVEMBER 2021 4 Cover Story Reinventing Hospitality Exclusive Interview with Dr. Jeffrey O CEO of the International Hospitality Institute 13 Innovation Being Agile in The Tech Industry: Sticking to Your Guns or Applying Your Expertise? David De Cremer 18 Digital Transformation Where Does Resilience Come From? It’s Your Progress in Digital Transformation, Especially in Times of Crisis Howard Yu and Shan Jialu 22 Business Rethinking Business in Times of Growing Complexity Hubert Etienne and J. Mark Munoz 28 Leadership Quantum Leadership for Recovery Vlatka Hlupic 32 Digital Transformation Five Questions for Business Leaders in Search o Next-Level Data Analytics Andrew Dunbar 35 Risk Management The Need to Rethink Risk Governance Pedro B. Água 39 Global Economy A New Proposal for the G20 to Strengthen the Global Financial Safety net Brahima Coulibaly and Eswar Prasad 42 Finance Why Alternative Finance Is Moving Into The Mainstream Paresh Raja 44 Europe The European Economic Outlook and the European Central Bank’s Policy Dilemma Chan Kung and Wei Hongxu 47 Private Equity Private Equity – Resilience Leads to Opportunity Philip Dakin 50 Germany Has the Time for Germany’s Liberals Finally Arrived? Rainer Zitelmann 52 Sustainable Banking In Banking, Sustainability is the New Digital. Now What? Christof Innig 56 Renewable Energy Renewable Energy Use after the Pandemic Ariane Evertz, Philipp Manuel Reynders, Sandra Felicitas Willert, and Michael Palocz-Andresen 65 Luxury Improving the Emotional Mix of Buying Luxury Francine Espinoza Petersen and Mariana Soberano 70 Business Will Brand UK Recover from the Pandemic? Atul Bhakta 74 International Relations Britain’s Scramble Out of Kabul; the Moral and Strategic Cost Michael Clarke Production & Design: Angela Lamcaster Print Strategy: Stefan Newhart Production Accounts: Lynn Moses Editors: Elenora Elroy, David Lean Group Managing Editor: Jane Liu Editor in Chief: The European Financial Review Publishing Oscar Daniel READERS PLEASE NOTE: The views expressed in articles are the authors’ and not necessarily those of The European Financial Review. Authors may have consulting or other business relationships with the companies they discuss. The European Financial Review: 3 - 7 Sunnyhill Road, London SW16 2UG, Tel +44 (0)20 3598 5088, Fax +44 (0)20 7000 1252, info@europeanfinancialreview.com, www.europeanfinancialreview.com No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without written permission. Copyright © 2021 EBR Media Ltd. All rights reserved. ISSN 1757-5680 empowering communication globally

The European Financial Review empowering communication globally

OCTOBER - NOVEMBER 2021

4

Cover Story Reinventing Hospitality Exclusive Interview with Dr. Jeffrey O CEO of the International Hospitality Institute

13

Innovation Being Agile in The Tech Industry: Sticking to Your Guns or Applying Your Expertise? David De Cremer

18

Digital Transformation Where Does Resilience Come From? It’s Your Progress in Digital Transformation, Especially in Times of Crisis Howard Yu and Shan Jialu

22

Business Rethinking Business in Times of Growing Complexity Hubert Etienne and J. Mark Munoz

28

Leadership Quantum Leadership for Recovery Vlatka Hlupic

32

Digital Transformation Five Questions for Business Leaders in Search o Next-Level Data Analytics Andrew Dunbar

35

Risk Management The Need to Rethink Risk Governance Pedro B. Água

39

Global Economy A New Proposal for the G20 to Strengthen the Global Financial Safety net Brahima Coulibaly and Eswar Prasad

42

Finance Why Alternative Finance Is Moving Into The Mainstream Paresh Raja

44

Europe The European Economic Outlook and the European Central Bank’s Policy Dilemma Chan Kung and Wei Hongxu

47

Private Equity Private Equity – Resilience Leads to Opportunity Philip Dakin

50

Germany Has the Time for Germany’s Liberals Finally Arrived? Rainer Zitelmann

52

Sustainable Banking In Banking, Sustainability is the New Digital. Now What? Christof Innig

56

Renewable Energy Renewable Energy Use after the Pandemic Ariane Evertz, Philipp Manuel Reynders, Sandra Felicitas Willert, and Michael Palocz-Andresen

65

Luxury Improving the Emotional Mix of Buying Luxury Francine Espinoza Petersen and Mariana Soberano

70

Business Will Brand UK Recover from the Pandemic? Atul Bhakta

74

International Relations Britain’s Scramble Out of Kabul; the Moral and Strategic Cost Michael Clarke

Production & Design: Angela Lamcaster Print Strategy: Stefan Newhart Production Accounts: Lynn Moses Editors: Elenora Elroy, David Lean Group Managing Editor: Jane Liu Editor in Chief: The European Financial Review Publishing Oscar Daniel READERS PLEASE NOTE: The views expressed in articles are the authors’ and not necessarily those of The European Financial Review. Authors may have consulting or other business relationships with the companies they discuss. The European Financial Review: 3 - 7 Sunnyhill Road, London SW16 2UG, Tel +44 (0)20 3598 5088, Fax +44 (0)20 7000 1252, info@europeanfinancialreview.com, www.europeanfinancialreview.com No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without written permission. Copyright © 2021 EBR Media Ltd. All rights reserved. ISSN 1757-5680

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