Managing Product Innovation in Financial Services Firms
By: VERMEULEN, Patrick
.
Material type: 
ArticlePublisher: Oxford : Elsevier, February 2004European Management Journal 22, 1, p. 43-50Abstract: Developing new products is of the highest importance for organizations. The financial sector has also reconized the increasing importance of new products However, research on the management of innovation has mainly been conducted in manufacturing industries. Based on an empirical study in the financial services sector this paper first describes how financial companies organize their innovative processes and what barriers to innovation can be identified in banks and insurance companies. Next, the two main reasons for the persistence of these barriers are outlined. The paper ends with some conclusions
Developing new products is of the highest importance for organizations. The financial sector has also reconized the increasing importance of new products However, research on the management of innovation has mainly been conducted in manufacturing industries. Based on an empirical study in the financial services sector this paper first describes how financial companies organize their innovative processes and what barriers to innovation can be identified in banks and insurance companies. Next, the two main reasons for the persistence of these barriers are outlined. The paper ends with some conclusions
Click on an image to view it in the image viewer
There are no comments for this item.