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Purpose -The purpose of this paper is to report the state-of-the-art of servitization by presenting a clinical review of literature currently available on the topic. The paper aims to define the servitization concept, report on its origin, features and drivers and give examples of its adoption along with future research challenges. Design/methodology/approach -In determining the scope of this study, the focus is on articles that are central and relevant to servitization within a wider manufacturing context. The methodology consists of identifying relevant publication databases, searching these using a wide range of key words and phrases associated with servitization, and then fully reviewing each article in turn. The key findings and their implications for research are all described. Findings -Servitization is the innovation of an organisation's capabilities and processes to shift from selling products to selling integrated products and services that deliver value in use. There are a diverse range of servitization examples in the literature. These tend to emphasize the potential to maintain revenue streams and improve profitability. Practical implications -Servitization does not represent a panacea for manufactures. However, it is a concept of significant potential value, providing routes for companies to move up the value chain and exploit higher value business activities. There is little work to date that can be used to help practitioners. Originality/value -This paper provides a useful review of servitization and a platform on which to base more in-depth research into the broader topic of service-led competitive strategy by drawing on the work from other related research communities.

In an effort to further explain why manufacturing firms that move towards service provision often fail to achieve the financial benefits they would expect, the purpose of this paper is to examine empirically the impact of service provision on the bankruptcy risks facing manufacturing firms. Methodology Using data drawn from a sample 129 bankrupt manufacturers (75 servitized and 54 non-servitized) and a framework categorising bankruptcy risks, the study explores the relationship between service provision and the environmental (external) and internal bankruptcy risks that manufacturing firms face. Findings The study finds that the presence of a service business leads to a greater number of bankruptcy risks for the supplying firm. This is essentially because of greater internal risks. In addition, two types of service offerings are identified-demand chain and product support services. When firms offer demand chain services, they are also exposed to greater environmental (external) risks. Research limitations/implications The study provides empirical evidence about the relationship between servitization and bankruptcy risks, and on how this is influenced by the type of services offered. The research could be extended through a more comprehensive assessment of organisational risks in order to further validate and develop its conclusions. Practical implications The study suggests that, as adding services introduces new risks for firms, managers have to seek means of mitigating these risks to ensure successful introduction of services. Originality/value The paper addresses the gap in the literature for structured analyses of the risk consequences of service strategies.

forthcoming). "Characterizing customer experience management in business markets", Journal of Business Research.