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The Role of Financialization When Moving up the Service Ladder

In: The Palgrave Handbook of Servitization

Author

Listed:
  • Bart Kamp

    (Orkestra-Basque Institute of Competitiveness)

  • Ibon Gil de San Vicente

    (Orkestra-Basque Institute of Competitiveness)

Abstract

Servitization is an organizational change process. As organizations move from offering base services to advanced services, the relevance of financial changes increases. Against this backdrop, this chapter puts the spotlight on the concept of financialization, as the increasing preponderance of financial motives, markets, actors and institutions in the conduct of business. Accordingly, it argues that outcome-based services can be characterized as complex financial products, which require financial security, routines and know-how to be built-in by the firms offering them due to the uncertainties and risks inherent to these services. Consequently, it reveals four spheres of doing business that may require adjustments when providing outcome-based services, i.e.: accountancy and financial management practices; access to external financial actors and novel financial technologies; development and leveraging of financial management and engineering skills within the firm; and customer or B2B relationship management.

Suggested Citation

  • Bart Kamp & Ibon Gil de San Vicente, 2021. "The Role of Financialization When Moving up the Service Ladder," Springer Books, in: Marko Kohtamäki & Tim Baines & Rodrigo Rabetino & Ali Ziaee Bigdeli & Christian Kowalkowski & Rogeli (ed.), The Palgrave Handbook of Servitization, pages 215-228, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-75771-7_14
    DOI: 10.1007/978-3-030-75771-7_14
    as

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