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Article
Publication date: 14 May 2020

Gajendra Liyanaarachchi

This paper aims to demonstrate how building competency in privacy can be used to transform the corporate strategy to generate a sustainable competitive advantage. A novel…

Abstract

Purpose

This paper aims to demonstrate how building competency in privacy can be used to transform the corporate strategy to generate a sustainable competitive advantage. A novel framework is presented as a guide to redesigning strategy by striking a balance between customer expectation and organizational objectives. In doing so, the paper offers four possible outcomes of accommodation, accumulation, association and affiliation, providing illustrations to each scenario for strategy formulation.

Design/methodology/approach

The relationship between privacy paradox and corporate strategy was examined through a qualitative research study. The author conducted 30 in-depth interviews on grounded theory methodology investigating customer insights on the nature and extent of privacy protection associated with e-commerce and organizational approach.

Findings

The customers are dissatisfied with existing data security strategies adopted by firms in protecting privacy. The over-reliance on systems has negatively influenced the communication between the organization and customers, leading to a possible competitive disadvantage. The firms need to redesign privacy strategy shifting from a system-driven approach to providing personalized service.

Originality/value

This paper presents a novel framework the privacy strategy matrix (PSM), introducing privacy as a strategic expedient in transforming corporate strategy facilitating privacy protection as a metaphor for differentiation. PSM framework provides a standard to evaluate the effectiveness of the corporate strategy in managing privacy manifesting a path toward deriving a sustainable competitive advantage.

Details

Journal of Business Strategy, vol. 41 no. 5
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 24 June 2021

Gajendra Liyanaarachchi, Sameer Deshpande and Scott Weaven

This paper advocates for banks to understand customers' online privacy concerns, use those insights to segment consumers and design tailored sales strategies to build a…

Abstract

Purpose

This paper advocates for banks to understand customers' online privacy concerns, use those insights to segment consumers and design tailored sales strategies to build a mutual relationship through a social exchange that produces a competitive advantage.

Design/methodology/approach

A qualitative study involving 30 in-depth interviews with Australian and Asian millennials residing in Australia was conducted using a grounded theory approach to explore privacy concerns of online banking and determine the efficacy of their banks' existing sales strategy and practice.

Findings

The study revealed differences in customer perceptions of trust, confidence, responsibility and exchange. Adopting a power-dependency paradigm within a social exchange theoretical framework and power distance belief of national culture theory, the authors identified four consumer segments: exemplar, empiric, elevator and exponent. The authors propose a tailored consumer-centered sales strategy of communication, control, consolidation and collaboration.

Originality/value

The paper contributes to the research in services marketing, sales strategy and banking in three ways: first, the authors demonstrate the importance of the social exchange theory and national culture as a premise to develop a competitive advantage; second, the authors propose an innovative set of consumer segments in regards to online privacy concerns; and, third, the authors introduce four sales strategies tailored to each of the four segments.

Details

International Journal of Bank Marketing, vol. 39 no. 6
Type: Research Article
ISSN: 0265-2323

Keywords

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Article
Publication date: 9 December 2020

Gajendra Liyanaarachchi, Sameer Deshpande and Scott Weaven

This conceptual paper explores gaps in bank privacy protection practices and advocates for banks to integrate market-oriented (MO) approaches in their corporate digital…

Abstract

Purpose

This conceptual paper explores gaps in bank privacy protection practices and advocates for banks to integrate market-oriented (MO) approaches in their corporate digital responsibility (CDR) initiatives to minimize consumer data vulnerability.

Design/methodology/approach

To apply MO in CDR, this study recommends adoption of a behavior change framework comprising of the co-creation, build and engage (CBE) model and proposes the creation of consumer segments based on generational cohort and tailoring strategies through motivation, opportunity and ability (MOA) model to manage vulnerability.

Findings

The study specifies that managing consumer data vulnerability requires a unique strategy different from conventional service delivery. A holistic approach is recommended by integrating corporate digital responsibility as a pivotal element of organizational strategy and by positioning vulnerable customers as a critical stakeholder.

Originality/value

The paper contributes to the research in corporate social responsibility (CSR), privacy and data vulnerability in the banking sector in two prominent ways: first, the study demonstrates the importance of MO as a premise to develop a novel version of CDR called market-oriented digital responsibility (MODR). The study considers MODR as a strategy to reposition vulnerable consumers as a key stakeholder, and, second, the study proposes an innovative set of consumer segments based on data vulnerability and introduces a data vulnerability growth model (DVGM) connecting vulnerability with age.

Details

International Journal of Bank Marketing, vol. 39 no. 4
Type: Research Article
ISSN: 0265-2323

Keywords

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Article
Publication date: 28 August 2019

Park Thaichon, Gajendra Liyanaarachchi, Sara Quach, Scott Weaven and Yi Bu

The purpose of this paper is to review the past, current and future trends in empirical research and theoretical insights into online relationship marketing.

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Abstract

Purpose

The purpose of this paper is to review the past, current and future trends in empirical research and theoretical insights into online relationship marketing.

Design/methodology/approach

Review over 100 empirical and theoretical studies in the online relationship marketing from top marketing and management journals.

Findings

This paper examined three areas pertinent to online relationship marketing: first, the evolution of online relationship marketing from pre-1990s to the present, which offers a temporal snapshot of changes in and an overview of the critical components that make up the structure of online relationship marketing; second, key theoretical perspectives are underlying the development of online relationship marketing; and third, empirical insights into online relationship marketing. In general, online relationship marketing has evolved from customers being passive receivers of online information and services to active co-producers and value co-creators.

Research limitations/implications

The paper identifies future research areas, including multiple layers of interactions, use of new technologies and platforms and the dark side of online communications.

Originality/value

The authors dedicated summary tables for each area, highlighting key findings, which in turn suggest a series of managerial recommendations for facilitating efficient, effective buyer–seller interactions and maximising firm performance in relation to online relationship marketing.

Details

Marketing Intelligence & Planning, vol. 38 no. 6
Type: Research Article
ISSN: 0263-4503

Keywords

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Article
Publication date: 3 August 2020

Reviews the latest management developments across the globe and pinpoints practical implications from cutting-edge research and case studies.

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151

Abstract

Purpose

Reviews the latest management developments across the globe and pinpoints practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

The notion of risk is, of course, as old as humanity itself, as to live is to understand there are risks involved in living longer or not living at all in the natural environment. But when did humans start doing something about risk and mitigating it in commercial terms? It is believed that Chinese traders 5,000 years ago used to distribute goods evenly throughout a fleet of boats in order to minimize risks of disaster should one or two boats capsize. And in personal terms, the Greeks and Romans established benevolent societies to help those people in their communities who were the worst off or had fallen on difficult times. Indeed, it seems to be a core element of our society that it has developed a means to support people when things go wrong.

Practical implications

Provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.

Original/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Details

Strategic Direction, vol. 36 no. 9
Type: Research Article
ISSN: 0258-0543

Keywords

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Abstract

Details

Annals in Social Responsibility, vol. 7 no. 1
Type: Research Article
ISSN: 2056-3515

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