Search results

Recent changes in the financial services industry have placed unprecedented pressure on senior managers to develop and launch new services. Presents the results of a study into the development activities of new financial services through a comparison of successful and unsuccessful new services. It was discovered that the development activities are more rigorous and comprehensive for successful new services than for failures. Institutions which used a systematic process of well‐defined development stages tended to have higher chances of successful outcomes.

The purpose of this paper is to explore the role of marketing, sales, EDP/systems and operations in the ultimate success of new‐to‐the‐market vs “me‐too” retail financial services.

To collect the data, the “dropping off” method was followed using a self‐administered questionnaire. Respondents were new service development project leaders. The unit of analysis was the service innovation project. After two follow‐up contacts, 114 usable questionnaires were returned from 64 companies, yielding a company response rate of 76 per cent and a project response rate of 68 per cent.

There are significant differences in the involvement of marketing in the stages of business analysis and marketing strategy, technical development, testing and launching, and the involvement of EDP/systems during technical development between “me‐too” and new‐to‐the‐market retail financial services. Further, in the case of new‐to‐the‐market projects, the involvement of marketing and sales positively influences performance. By contrast, the performance of “me‐too” retail financial services is positively affected by the involvement of the technical‐related functions, namely EDP/systems and operations.

The study offers only indirect evidence of a strong link between market orientation adoption and performance of innovative retail financial services. Future research attempts should incorporate a measurement of market orientation and examine directly its relation with the performance of major innovations. Also, the development process is only one of the many factors, which may explain variations in the performance of different new services. Future research is again needed in order incorporate in the analysis measures of such factors and refine the links that this study has revealed.

On the basis of the study's findings, middle and top management may reconsider their new service development process and possibly reassess their practices regarding the different roles that various functions hold during the development process.

Provides a review and ready reference to recent writings on new service development (NSD), especially for the financial services sector. Discusses the types of new service development, the purposes served by them and the processes. Refers to the key activities of NSD and measures its success. An annotated bibliography supplies a very useful guide to the new service development literature.

New services design and development are difficult to plan, execute, measure and evaluate. Particularly, new services that are capital-intensive and involve a long gestation and development time are considered extremely risky. The purpose of this paper is to discuss a list of innovative practices in various managerial aspects in designing, planning and development of a large scale infrastructure intensive public transportation service. A contemporary new public transportation service development is discussed as evidence of proven and benchmarked criteria.

This is a technical paper, where theoretical foundations of best practices in new service development project are discussed and supported by practice-based evidences from a real-life urban transportation project. A case study approach is adopted with secondary data.

Worldwide during and after economic recession of 2008, several projects were stalled or abandoned. The inference through this work is that through efficient management practices, a large capital-intensive new service development project can be made successful even during a turbulent economy in a region marred by more challenges than elsewhere.

Several issues in large scale services development, such as urban transportation are domain specific. Some of the issues faced in urban transportation are common to several Gulf countries; therefore the policy guidelines, managerial practices and development strategies reported in this paper can be replicated in many of them. The commercial impact of the service project is a significant drive towards fuel conservation and to save huge amounts of productive time.

Public transportation with a high quality of networked service improves the quality of life to a large extent. Unless certain measurable demands are not met, an affluent society is less likely to endorse public transportation. In addition, endorsement of public transportation is been promoted in several parts of the world as a drive towards a green, energy efficient, low-carbon emission and sustainable environment.

To the best of the authors’ knowledge, new services planning and development is a key operations management topic, on which very little is written about. Particularly no other paper has presented a real-world large scale infrastructure intensive project development to this detail, and along with a theoretical background to benchmark performance and development practices.

The aim of this research is to examine the key determinants influencing the success of new service development projects (NSDPs) across four service typologies context.

The researchers used the scenario-based survey method in an NSDP setting. Structural equation modelling (SEM) was used to test the proposed hypotheses based on survey data from 570 managers under four service typologies.

Service firms' cross-functional integration (CFI) and internal project team efficiency (IPTE) positively influenced NSDPs. The results also indicated that both technology infrastructure (TI) and IPTE mediated the relationship between CFI and NSDPs. In addition, the mediation effect of TI existed between the relationship of IPTE and NSDPs. Furthermore, the proposed model confirms that, for NSDPs, the role of knowledge-sharing behaviour (KSB), authentic leadership (AL) and firm's culture (FC) across the four service typologies moderated the relationship.

With a better understanding of the dynamics of the aforementioned variables, service managers and the project team can more effectively develop and execute strategies for an NSDP. The article enables practitioners to expand their current understanding of NSDPs by providing insights of the unique antecedents that are significant for new service development across four service types.

This research is the first of its kind to examine the mediating role of KSB and TI in determining NSDPs. This study provides one of the first empirical examinations on NSDPs in the context of four service typologies from the perspective of a developing country, where the service industry is competitive. The study demonstrates that the critical success factors of NSDPs do not differ across service types, thereby confirming the “One Basket Fits all” assumption in the current NSDP research study.

Service companies in high tech sectors frequently implement decentralized decision architectures in their innovation processes to improve responsiveness under extremely dynamic and uncertain business conditions. As a corollary to the empowerment of decision makers at the product management level, the success of new service development projects depends increasingly on individual managers’ information processing and decision‐making performance. This article investigates antecedents of decision‐making effectiveness in high tech NSD projects, and report on a case study performed in the mobile telecommunication services industry. NSD managers’ unique task conditions are articulated, and antecedents and moderators of effective decision making are identified in a study of four innovation projects. A theoretical framework integrates the findings. The study reveals the crucial role of decision makers’ flexible use of various cognitive strategies, their proactive attitude, and their capability to mentally represent various interfaces between service, customer, technology and firm. Managerial implications and suggestions for further research are provided.

The current study examines the negative moderating effects of team’s prior experience and technological turbulence on the antecedents and consequences of using information provided by customers involved in new service development (NSD). It also examines one way to mitigate the proposed negative effects.

The unit of analysis was NSD projects in which customers had been involved during the development process. A self-administered mail survey was used to collect the data. The proposed model was tested using hierarchical path analysis.

Results show that team’s prior experience reduces the extent to which recorded and shared information from customers involved in NSD is used for project-related decisions during the development process. Findings also reveal that technological turbulence can reduce the positive effect of using information provided from customers involved in NSD on new service advantage and service newness. Finally, results show that involving lead users in NSD can help reduce the negative moderating effects of team’s prior experience and technological turbulence.

The literature on information use suggests that availability of information does not guarantee its use. In keeping with this argument, the current study reveals that for NSD projects with customer involvement, team’s prior experience and technological turbulence are part of the challenge of making effective use of the new knowledge that customers bring to the development project. Firms are advised to collaborate with lead users as a way to attenuate this problem.

The purpose of this paper is to examine whether managers should have a different approach for the development of very innovative services from that of incremental new services.

This paper is based on a large‐scale survey to examine hotel innovation projects to gain insight about the impact of level of innovativeness on the factors that are linked to new service success and failure.

The research results show that there are two global success factors regardless of their degree of newness – market attractiveness and strategic human resources management. Several other factors, however, are found to influence the outcome of incremental projects, such as: service advantage, empowerment, training of employees, behavior‐based evaluation, tangible quality and marketing synergy. For very innovative new hotel services, market responsiveness and pre‐launch activities are found to be related to success.

Further research should investigate whether the results are applicable to other countries and other service segments as well as to consider a staff or customer outcome perspective.

Managers who design new service development processes that are tied to the key success features in innovative or incremental new service development (NSD) increases the likelihood of success.

The differences in success factors between innovative and incremental new services has not been clearly articulated to date. Innovativeness is linked to levels of risk, ambiguity, necessary resources and complexity and this paper shows that firms should have different priorities and approaches when developing new services.

The purpose of this research is to answer the question: how can a new service development (NSD) program in the financial services industry be managed? More specifically, this research has two objectives: to explore the stages in the NSD process; and to explore how customer input may be obtained in the various stages of the development process. After a review of the new product development literature, the case study methodology involving in‐depth interviews with managers and their customers is described. Analysis of the data showed that there were ten stages in the NSD process, and whether those stages were managed linearly or sequentially was a function of the size of the firm. In addition, how NSD managers obtained customer input in each stage, was uncovered. Implications for NSD managers include which stages to concentrate on, and how to capture customer input.

Customer involvement has been recognized as a key factor for successful service development. One important aspect affecting the outcome of new service development (NSD) projects in whose development customers are involved is the choice of the appropriate participating customer. This study aims to examine the effect of two customer characteristics (relational closeness and lead‐userness) on four indicators of new service performance.

The paper uses data from 102 NSD projects. Covariance‐based path analysis is used to test the model.

The results reveal that involving close customers in the NSD process has a positive direct effect on service advantage and speed to market and a positive indirect effect on market performance. The involvement of lead users, on the other hand, has a positive effect on service newness and service advantage, and a negative effect on market performance.

The focus on Spanish companies puts constraints on the generalizability of the results to other national contexts. Future research should replicate this study in different countries. Also, future research could explore more deeply the performance impact of close customers and lead users by collecting data on the roles that customers can play in NSD.

The findings from this study suggest that firms need to make conscious choices about the types of customers to involve in service innovation as different types of customers affect new service performance differently.

This study makes an original contribution by investigating the effect of customer's relational closeness and customer's lead userness on four indicators of NSD performance.