IDEAS home Printed from https://ideas.repec.org/a/eee/eurman/v22y2004i1p43-50.html
   My bibliography  Save this article

Managing Product Innovation in Financial Services Firms

Author

Listed:
  • Vermeulen, Patrick

Abstract

Developing new products is of the highest importance for organizations. The financial sector has also recognized 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.

Suggested Citation

  • Vermeulen, Patrick, 2004. "Managing Product Innovation in Financial Services Firms," European Management Journal, Elsevier, vol. 22(1), pages 43-50, February.
  • Handle: RePEc:eee:eurman:v:22:y:2004:i:1:p:43-50
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0263237303001609
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Joanna Błach, 2020. "Barriers to Financial Innovation—Corporate Finance Perspective," JRFM, MDPI, vol. 13(11), pages 1-23, November.
    2. Henri Teittinen & Markku Kaperi, 2022. "Exploring dishonest vulnerability in digital finance platforms ? an actor?network theory approach," International Journal of Business and Management, International Institute of Social and Economic Sciences, vol. 10(2), pages 67-79, November.
    3. António Porfírio, José & Augusto Felício, José & Carrilho, Tiago, 2024. "Factors affecting digital transformation in banking," Journal of Business Research, Elsevier, vol. 171(C).
    4. Niemand, Thomas & Rigtering, J.P. Coen & Kallmünzer, Andreas & Kraus, Sascha & Maalaoui, Adnane, 2021. "Digitalization in the financial industry: A contingency approach of entrepreneurial orientation and strategic vision on digitalization," European Management Journal, Elsevier, vol. 39(3), pages 317-326.
    5. Eliana Lauretta & Sajid M. Chaudhry & Daniel Santamaria, 2023. "Unveiling the black swan of the finance‐growth Nexus: Assumptions and preliminary evidence of virtuous and unvirtuous cycles," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 3749-3773, October.
    6. Dieter De Smet & Anne-Laure Mention & Marko Torkkeli, 2016. "Involving High Net Worth Individuals (HNWI) for financial services innovation," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 21(3), pages 226-239, September.
    7. Riikkinen, Mikko & Pihlajamaa, Matti, 2022. "Achieving a strategic fit in fintech collaboration – A case study of Nordea Bank," Journal of Business Research, Elsevier, vol. 152(C), pages 461-472.
    8. Flikkema, Meindert, 2005. "Exploring service development for understanding Schumpeterian innovation in service firms: the deduction of special case criteria," Serie Research Memoranda 0001, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    9. Feldmann Anna & Teuteberg Frank, 2019. "Understanding and Assessing the Implications of Co-Creation in the Banking Industry: A Case Study," Zeitschrift für das gesamte Genossenschaftswesen, De Gruyter, vol. 69(3), pages 179-203, December.
    10. Daniel Ruiz-Palomo & Julio Diéguez-Soto & Antonio Duréndez & José António C. Santos, 2019. "Family Management and Firm Performance in Family SMEs: The Mediating Roles of Management Control Systems and Technological Innovation," Sustainability, MDPI, vol. 11(14), pages 1-22, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eurman:v:22:y:2004:i:1:p:43-50. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/115/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.