While the reasons for shortfalls can occur for many reasons, one of the more common shortcomings is that the strategy itself was focused too much on market and financial results without adequate attention to the infrastructure necessary to support and sustain the strategy. 1  PricewaterhouseCoopers and the Economist Intelligence Unit, “Governance: From Compliance to Strategic Advantage” (April 2004).
In a hard and devastating way, the global financial crisis taught us that monetary and financial stability policies are inseparable as financial institutions evolve and as economic activities become more complex. Another force that compels us to rethink how we must approach reforms and conduct policy is the advent of the “fourth industrial revolution” – the rise of the digital economy.