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21 – 30 of over 262000The financial industry offers a unique setting to study innovations. Financial innovations have fueled the growth of economies, markets and societies. The financial industry has…
Abstract
Purpose
The financial industry offers a unique setting to study innovations. Financial innovations have fueled the growth of economies, markets and societies. The financial industry has successfully become the breeding ground for innovative services, processes, business models and technologies. This study seeks to provide a holistic view of the literature on financial innovations, synthesize the research findings and offer future directions for research in light of three market developments that are disrupting the industry and opening up a new era for the financial services industry. Disruptions from within and outside the industry offer new generations of radically innovative services. Moreover, new generations of consumers differ from previous generations in their needs and wants and look for innovative ways to handle their financial needs. Finally, significant developments related to financial innovations have emerged in Asia and developing countries.
Design/methodology/approach
This study systematically reviews the academic research literature on financial innovations in two phases. The first phase provides a quantitative review of 546 journal articles published between 1990 and 2018. In the second phase, the study synthesizes the extant research on financial innovations and maps them in five research areas: firms' introduction and adoption of FIs, financial innovation development, the outcomes of financial innovations, regulations and intellectual property, and consumers.
Findings
The analysis found that disciplines differ with regard to the employed research methodologies, the units of analysis, sources of data and the innovations they examined. A positive trend in the number of published articles during this period is observed. However, studies have primarily focused on the USA and Europe and less so on other parts of the world. The literature synthesis further identifies research gaps in the available research that highlight future research opportunities in light of the three market disruptions. The financial services industry is on the brink of a new era due to disruptions from within and outside the industry and the entrance of new generations of consumers. Moreover, the financial industry has successfully become the breeding ground for innovative services, processes and business models. Therefore, financial innovations offer promising opportunities for bridging the gap between research on product and service innovations.
Research limitations/implications
The work provides a holistic and systematic overview of extant research on financial innovations and highlights future research opportunities in light of the three disruptive market developments. It helps researchers take advantage of the opportunities in studying financial innovations while maintaining industry relevance.
Originality/value
The study is the first to review and synthesize the academic research literature on financial innovations across marketing, finance and innovation disciplines. In addition, the study highlights three primary disruptive forces in the financial industry and identifies future research directions in light of these disruptive forces.
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Glauco H.S. Mendes, Maicon Gouvea Oliveira, Eduardo H. Gomide and José Flávio Diniz Nantes
The purpose of this paper is to develop a deeper understanding of the new service development (NSD) research field. It addresses its scientific production, social and intellectual…
Abstract
Purpose
The purpose of this paper is to develop a deeper understanding of the new service development (NSD) research field. It addresses its scientific production, social and intellectual structures, and maturity.
Design/methodology/approach
This study uses a bibliometric-based literature review. Quantitative and qualitative analyses are performed on a sample of 277 NSD articles (published from 1984 to 2014). These articles are organized into four periods to improve the analyses from an evolutionary perspective: Early Writings (1984-1995), Advancing of Literature (1996-2001), Progressive Literature (2002-2008), and Recent Works (2009-2014).
Findings
The scientific production in the NSD field has grown significantly over these four periods, and the entry of new authors has extended the social structure. However, collaboration networks seem disconnected from one another. Nonetheless, the intellectual structure has shown great progress, making NSD an independent area of research and discovery from the new product development domain, with its own foundations and expansions into new topics. Although the NSD research field has not yet reached maturity, it is consistently moving toward it.
Originality/value
This study delivers a multiperspective view of research on NSD using a mixed quantitative and qualitative approach. It provides new insights into the discussion of the field’s maturity and can be used as a roadmap for academics and practitioners who would like to understand the state of existing knowledge and are looking for research opportunities.
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This special “Anbar Abstracts” issue of the Marketing Intelligence & Planning is split into seven sections covering abstracts under the following headings: Marketing Strategy;…
Abstract
This special “Anbar Abstracts” issue of the Marketing Intelligence & Planning is split into seven sections covering abstracts under the following headings: Marketing Strategy; Customer Service; Sales Management; Promotion; Marketing Research/Customer Behaviour; Product Management; Logistics and Distribution.
Eric Stevens and Sergios Dimitriadis
When compared with the field of new product development, research on new services has seen fewer developments and offers less comprehensive insights. This paper tries to fill this…
Abstract
Purpose
When compared with the field of new product development, research on new services has seen fewer developments and offers less comprehensive insights. This paper tries to fill this gap by providing empirical findings from two qualitative longitudinal case studies of new service development. Knowledge on the management issues for developing new bank offerings efficiently is limited. Furthermore, recent research suggests that organisational learning can contribute greatly to the success of innovation projects. The aims of this paper are to provide a detailed description of the development process of a new financial product and to identify learning actions that may contribute to its effectiveness.
Design/methodology/approach
The paper reports findings from a qualitative, longitudinal case study of a well‐known French bank, and of a retailer. The research focuses on the description of the process, the organisational issues involved and the decision making during the development process.
Findings
The findings lead to the proposition of a model of new service development comprising a strong organisational learning component. Research and managerial implications are discussed for ways to better understand the new service development process and to enhance its effectiveness. The results reveal an informal development process consisting of a sequence of issues to solve and decisions to make. Multiple learning actions and strategies are identified that enhance the process's effectiveness and efficiency.
Research limitations/implications
Generalisation of the proposed NSD model will require further qualitative and quantitative investigations. For the qualitative part, observations of the development of standardised offers are necessary to enrich the initial framework. Furthermore, non‐standardised offers would constitute a specific research field, given the dimensions of complexity and divergence of the delivery processes. For the quantitative part, the impact of learning process on results of the development may be assessed on the basis of measurements used in similar contexts, such as the impact of learning on the success of joint ventures.
Originality/value
Findings suggest that learning during innovation should be supported for banks and retailers. Several opportunities for further research are therefore suggested.
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Addresses a number of issues concerning racial discrimination in UK public libraries. It examines Black librarianship in the UK in 2001; records the development of the Quality…
Abstract
Addresses a number of issues concerning racial discrimination in UK public libraries. It examines Black librarianship in the UK in 2001; records the development of the Quality Leaders Project which focuses on policy development, management and leadership issues in the context of Black workers and community needs; and discusses the potential contribution of this approach.
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Heiko Gebauer, Regine Krempl and Elgar Fleisch
The primary objective of this paper is to explore antecedents for developing different types of services. A second objective is to address the neglected role of service development…
Abstract
Purpose
The primary objective of this paper is to explore antecedents for developing different types of services. A second objective is to address the neglected role of service development in manufacturing firms.
Design/methodology/approach
A qualitative research approach is used. While the study is qualitative due to its context, it is positioned between deductive and inductive qualitative studies, being neither a test of an already developed theory nor a development of a new theory. Rather, it is an extension of existing theories on service development through dialectic interaction between field studies and existing theory.
Findings
The findings suggest that three types of service (customer service, product‐related services, and customer support services) differ in their configuration of antecedents for service development.
Research limitations/implications
The study is based on case‐study research, but the external validity (generalisability) of the antecedents could not be assessed. Future research would benefit from insights obtained from quantitative data.
Practical implications
The combination of different service types and antecedents forms a model that can guide managers in typical product manufacturing companies who wish to extend the service business by developing services successfully.
Originality/value
Based on three in‐depth case studies and 18 bi‐polar mini cases, this paper explores the relationship between types of services in manufacturing companies and typical antecedents that are necessary for service development.
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Qiang Wang, Ilan Oshri and Xiande Zhao
This study aims to examine value cocreation in terms of interfirm collaborations between service firms, their business customers and business partners at different stages of a new…
Abstract
Purpose
This study aims to examine value cocreation in terms of interfirm collaborations between service firms, their business customers and business partners at different stages of a new service development (NSD) process.
Design/methodology/approach
The study develops and tests hypotheses that examine the roles played by business customers and partners in NSD, assuming resource dependency of the focal firm during three NSD stages (ideation, development and deployment). Empirical data were collected from 200 NSD projects and structural equation modelling was used to test the hypotheses.
Findings
The results show that business customer collaboration has a positive effect on ideation performance and development performance, whereas business partner collaboration has a positive effect on deployment performance. These finding support the notion that the value cocreating roles of business customers and partners vary across NSD stages.
Research limitations/implications
Future research should focus on how business partners can be actively involved in the NSD process and how the interests of different parties can be safeguarded. The use of longitudinal data will allow a better examination of the process dynamics.
Practical implications
The study provides managerial implications for service managers in terms of acquiring and allocating resources needed from business customers and partners during different NSD stages.
Originality/value
The study contributes to the growing literature on value cocreation in NSD by empirically demonstrating the respective performance contributions of business customers and partners during different stages of NSD. Moreover, the results also shed light on interfirm collaboration mechanisms from the perspective of resource dependence theory.
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This paper generates a network perspective of the development of new services. Service development within a network environment is at an early stage of understanding and has…
Abstract
This paper generates a network perspective of the development of new services. Service development within a network environment is at an early stage of understanding and has received little attention. The authors contribute to greater understanding of the new service development process by conceptually developing and integrating two themes: the development of new services and the innovation process within networks, rooted in the study of industrial networks. The conceptual discussion is further strengthened by a case study of network‐based new service development in the financial services sector.
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Bo Edvardsson, Lars Haglund and Jan Mattsson
Given the increasing importance of the service sector in westerneconomies, not enough research has been carried out in the field of newservice development. Reports studies which…
Abstract
Given the increasing importance of the service sector in western economies, not enough research has been carried out in the field of new service development. Reports studies which explore the process of developing new services. Nine different new services launched in the Swedish market were studied in detail. Based on these studies, draws conclusions on the process.
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This work was originally commissioned during 1982, the year that was designated Information Technology Year; the year that the personal computer replaced the space invader machine…
Abstract
This work was originally commissioned during 1982, the year that was designated Information Technology Year; the year that the personal computer replaced the space invader machine as a focus for teenage obsession; the year of the library symbol, the Hunt Report on cable TV; the year the US Post Office issued two stamps celebrating American libraries, and the British Post Office issued a stamp for IT year suggesting that libraries were a thing of the past. The work was intended to look at “the background to the IT revolution, the benefits of applying technology to library services and the reasons for its relatively slow progress”. It was envisaged at the time that what would have been effectively a state‐of‐the‐art report on the technology available to libraries, and who was doing what with it, would be a useful tool for library managers introducing or extending library technical services. It might usefully have complemented the LA publication, The impact of new technology on libraries and information centres (LA, 1982). However, for a variety of reasons it was not possible to produce the publication in 1983 as intended; the person commissioned to write it was unable to do so; and eventually, in 1984, it was realised that the speed of development and availability of technology was such that any such work would be useless as a practical guide within months of publication. The growth, during the period, of journals on the subject of library applications of IT of all kinds; the appearance of regular updates in the generalist professional press; the formation of, for example, the Library Association IT Group: all these developments clearly offered better opportunities of current awareness to the library manager than could be achieved by a single monograph.