Customer value creation in financial services

Customer value creation is allegedly at the centre of relationships between service recipients and service providers (such as financial service organisations in general, and commercial banks in particular). This research considers the role of customer value creation in the strategic response of banks to external changes in their growth opportunities. The analysis established that there had been changes in the framework in which banks' pursued synergy since 1980 (or 1990 in Mexican and 1992 in Estonian interviews). As a response to external change banks have created new synergies in the pursuit of greater growth and interviewees expected that changes in synergy creation should be reflected in banks' diversification and market positioning moves. New synergies required new capabilities and participants from all countries agreed that the current wave of change in synergy creation had carried through greater emphasis on customer profitability. All countries recorded a shift from a supply-oriented strategic stance to the development of skills to retain customers and even becoming a one-stop financial service institution for their customers. However, greater emphasis on customer profitability was seldom followed by recognition of the key capabilities required for high customer value creation. This as most interviewees failed to provide an articulated account of how to achieve that profitability

New perspectives on not-for-profit financial institutions: organisational form, performance and governance

Post-print version. Final version published by Routledge; available online at http://www.tandfonline.com/The guest editors discuss the context for this special edition, introduce the contributions, consider a number of key themes which link the articles and suggest areas for future research, in particular they make a case for the link of organisational diversity and the stability of the financial system

The Adoption of US-Style Business Education in Mexico, 1945-2005

This article maps the idiosyncratic features in the development of graduate and postgraduate management education in Mexico City. The emergence of these degrees is partly in response to the globalization of higher education but also to the transformation of Mexican business organisations into a more hierarchical structure. The evolution of the institutional setting thus offers an indirect study of the appearance of professional managers in a region otherwise dominated by family run firms. As a result, this article contributes to contemporary Mexican business history by linking the forms of interaction between multinationals, indigenous businesses and management education

Local Adaptation of Work Practices: The Case of BancoEstado’s “CajaVecina” Correspondent Banking System

This article contributes to the discussion of everyday domestic finance technologies by looking at CajaVecina, a correspondent banking network coordinated by BancoEstado, a leading Chilean financial institution. Differences in perceptions between actual users and designers of ICT for development projects (ICT2D) emerged from structured interviews with executives of financial intermediaries, customers, and shopkeepers. The extent to which independent merchants operating CajaVecina’s bespoke terminals confront and solve the “design-actuality gap” questioned whether the CajaVecina system enabled neighborhood retail stores to act as a de facto bank branch. Empirical results suggested that was not the case. Instead of following strict contractual behavior, participants in the correspondent banking network addressed a design gap through social interaction and leveraging relationships with repeat customers. This behavior builds on information emanating from what they called “operating quotas.” Operating quotas enabled BancoEstado to diversify risk, document financial services habits, and forecast the performance of merchants (particularly small, independent retail shops). Merchants used trends in operating quotas to tailor services offered through the CajaVecina terminal while aiming to increase the loyalty of trusted customers. These results further the understanding of correspondent banking services aiming to increase financial inclusion by providing evidence of a previously unexplored aspect of these networks, where social dimensions take precedence over economic, financial, and technological aspects

Barclaycard: still the king of plastic

Exploring Corporate Strategy has established a reputation as a pre-eminent textbook in its field, based upon the expertise of authorship, range of cases, depth of commentary and wealth of supporting resources. The 7th edition builds on these strengths with the introduction of a new author, Richard Whittington. The enhanced coverage of international strategy and the resource-based view, as well as improved visual presentation, ensure that this book continues to lead the way in exploring strategic management. This version of the text includes 35 long case studies from a variety of industries worldwide

A Dainty Review of the Business and Economic History of Chile and Latin America

Esta introducción provee un marco a la edición especial sobre la historia económica y de la empresa en Chile y América Latina. Se hace hincapié acerca de la agenda y el método de investigación en historia de la empresa así como invitar a que esta área se desarrolle en Chile.This introductory piece provides some context to the special edition on business and economic history of Chile and Latin America. It also provides an introduction to better understanding research and method in business history while inviting for this field to be further developed in Chile