Recent advances in manufacturing and communication technology have made it possible for firms to offer products that are personalized to individual customers’ specifications. While personalizing products leads to benefits for firms, it also requires significant resources, calling into question the financial efficacy of this practice. This situation is especially salient in the pharmaceutical industry, where drugs are personalized to individuals. This type of medicine is expected to account for approximately 50% of drug spending in the U.S. market by 2022; however, the rising costs of producing and delivering such medications make their viability uncertain. In this study, we present a framework that conceptualizes a nonlinear inverted U‐shaped relationship between product personalization and financial performance. We further investigate the role of supply‐chain disintermediation in enhancing the benefits of personalization. Analysis of data from the pharmaceutical industry confirms that product personalization improves financial performance only up to a point, beyond which firms experience negative performance effects. Furthermore, supply‐chain disintermediation moderates this relationship such that the inverted U‐shape is steeper with increasing disintermediation levels. Together, these findings provide important guidelines for managers formulating their firms’ product personalization strategies.
This study explores the challenges facing the US population regarding financial security, particularly as it relates to retirement security. It extends the review of the literature regarding financial literacy education based on previous literature, investigating the role of financial literacy education as it relates to managing bills on time, budgeting techniques, and saving regularly, and investing in retirement accounts. Previous research on financial literacy knowledge is explored. Lack of knowledge may be a reason for not following recommended practices. Research shows that financial literacy knowledge may explain better cash-flow management, and savings and investment behaviors. The research focuses on a number of areas in which there is a disparity among White, Black, and Hispanics in the USA and it further investigates number of issues related to financial security related to minorities, including household income, savings and asset allocation issues, home ownership, pension plans, and retirement savings and retirement security issues. It presents recent information on a number of relevant financial variables that relate to minority retirement security.
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