Accelerating innovation in financial services

Drew, Stephen

doi:10.1016/0024-6301(95)00031-d

Cited by 56 publications

(44 citation statements)

References 7 publications

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“…Third, their NPD and NSD programs tend to be more formalized, better structured, and proactive compared to those of their less successful counterparts (Easingwood, 1986;Johne, 1993). Fourth, high quality development staff and other resources complement these successful innovators' new product and service organizations (Drew, 1995;Edgett, 1994;Johne, 1993;Johne & Storey, 1998).…”

Section: Previous Research On Nsd and Npdmentioning

confidence: 94%

“…First, it has the mechanism of differentiation involving R&D strength. A positive relationship between R&D strength and new products and services is anticipated (Cooper, 1983;De Brentani, 2001;Drew, 1995;Li & Calantone, 1998). Second, there is the mechanism of organization contextual influence.…”

Section: A Baseline Model Of Innovationmentioning

confidence: 97%

“…5 For empirical support for the relationships in a NPD context seeAtuahene- Gima (1996),Chandy and Tellis (1998),Cooper (1983),Kleinknecht and Mohnen (2002),Griffin (1997),Li and Calantone (1998),Nijssen et al (2005),Tidd and Bodley (2002). For empirical support for the relationships in a NSD context seeAtuahene-Gima (1996),Avlonitis et al (2001), De Brentani (2001,Drew (1995),Froehle, Roth, Chase, and Voss (2000),Griffin (1997),Menor et al (2002),Storey and Easingwood (1998),Tax and Stuart (1997),Thomke (2003).…”

mentioning

confidence: 93%

See 2 more Smart Citations

Exploring product and service innovation similarities and differences

Nijssen

Hillebrand

Vermeulen

et al. 2006

International Journal of Research in Marketing

327

251

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Section: Previous Research On Nsd and Npdmentioning

confidence: 94%

Section: A Baseline Model Of Innovationmentioning

confidence: 97%

mentioning

confidence: 93%

See 1 more Smart Citation

Exploring product and service innovation similarities and differences

Nijssen

Hillebrand

Vermeulen

et al. 2006

International Journal of Research in Marketing

327

251

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“…New products and services are important for growth in the banking industry and speed-to-market is critical in securing competitive advantage for a bank. The adoption of new technology has been a key in new product development and a new software platform can support rapid innovations, for example, in a bank´s credit card business (Drew, 1995).…”

Section: Competitive Advantages In the Banking Industrymentioning

confidence: 99%

Shaping Elements while Maintaining Fit

Ritakallio

Vuori

2015

AMPROC

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ISBN 978-952-60-7023-0 (printed) AbstractOrganizational performance is a result of doing many activities well and consistently with one another. While existing research has recognized that the fit between organizational activities is an important determinant of success, there is a need for more study of the processes that organizations use to develop and maintain fit in the presence of environmental change. This thesis set out to elaborate theory on fit development. I used the previous theory as a starting point and to formulate open-ended research questions rather than specific hypotheses. I then used empirical material to build on top of the prior literature and to challenge the prior literature. I did this to extend and refine the existing theories on fit development. To investigate how strategic fit is developed over time and how emergent and behavioral processes might be related to the process of developing and maintaining fit between organizational elements, I conducted a longitudinal case study of one of the most successful European banks covering its performance from 2000 to 2011. I modeled the organization´s activities by using qualitative organizational-system maps to determine how the activities evolved over time and how the fit between them was maintained. My primary data source was public information about the company´s activities and these data were complemented by private interviews.In contrast to what the previous theory would suggest, I found that the company´s core elements themselves underwent major changes through a process that I call shaping, during which the elements´ relationships between one another continued to have a fit-like character. This highlights that to understand strategy as a constellation of organizational elements, it is not sufficient to focus on the relationships between the elements, one must also to be mindful of the qualitative nature of the elements themselves and changes in them. Many of these changes are better characterized as "emergent" rather than as "designed." My findings contribute to the research on the processes that allows companies to evolve toward fit. Siggelkow recognized four processes that a company uses: thickening, patching, coasting, and trimming. I identified a fifth one-shaping-which refers to the process of transforming a core element while maintaining its identity and relationships with other elements. My conclusion is that shaping strategic core elements is an essential way through which companies maintain fit between their core elements and yet transform and grow radically during the periods of volatility and turbulence in the surrounding environment. Therefore, my findings are essential for the research on the processes that allow companies to evolve toward fit.Keywords Strategic fit, strategic change, activity systems, organizational elements, banking Organisaation toiminnot mallinsin hyödyntäen kvalitatiivista systeemikarttaa, jonka avulla pääsin havainnoimaan toimintojen pitkän aikavälin kehittymistä ja niiden välisen yhteensopivuuden sä...

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“…A review of the literature (Reidenbach and Moak, 1986;Drew, 1995;Beard and Dougan, 2006) suggests that most financial innovations have a significantly shorter lead time (on average, 12 months) compared to technological innovations with lead times of years to decades: Odgers and Nimmervoll (1988) suggest that significant technological innovations normally have an average lead time of twenty years. Associated with short lead times for most financial innovations is rapid diffusion in society.…”

Section: Financial Innovations Have a Short Lead Timementioning

confidence: 99%

Can we have a general theory of financial innovation processes? A conceptual review

Khraisha¹,

Arthur

2018

Financ Innov

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Introduction: Since the financial crisis of 2008, the theory of financial innovation has been a focus at a time of re-evaluation and re-conceptualization. However, little has been done to evaluate the current state of research considering the increasing complexity of financial innovation. This paper examines the hypothesis of a general theory that encompasses increasing complexities in the financial innovation process.

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Accelerating innovation in financial services

Cited by 56 publications

References 7 publications

Exploring product and service innovation similarities and differences

Exploring product and service innovation similarities and differences

Shaping Elements while Maintaining Fit

Can we have a general theory of financial innovation processes? A conceptual review

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