Skip to main content
Article thumbnail
Location of Repository

Internet and competitive advantage: an empirical study of UK retail banking sector

By Qing Amie Porter


There is wide agreement that the Internet has had a significant impact on the retail banking sector. However, no consensus has formed as to whether the Internet can provide retail banks with competitive advantage and if so, whether this competitive advantage is sustainable. \ud This research project examines the provision of Internet usage in the UK retail banking sector. The goals of this study are threefold: 1) to explore the notion of "competitive advantage" in retail banking, 2) to understand why managers of retail banks invest in the Internet and what they consider are the advantages of Internet banking and 3) to ascertain why some managers of retail banks are more convinced of the benefits of the Internet as a generator of competitive advantage than others and whether this relates to the characteristics of their bank and/or its Internet strategies. \ud A model of the use of the Internet in retail banking was developed. An analysis framework, based on the competitive advantage that the use of the Internet may produce, was also built up. In addition, a combination of qualitative and quantitative methodologies was utilised. Interviews were formulated and undertaken in order to extend the findings in the extant literature, and to further confirm and refine the theoretical framework of this study. Then utilising the results of the interviews, a survey was conducted and 151 senior managers responded. The responding mangers came from both small and large retail banks and, in addition, from building societies. They held a variety of different positions within their organisations. \ud The thesis produced a number of significant findings. The concept of `competitive advantage' was defined in the UK retail banking sector. Key factors that provide retail banks with competitive advantage were identified; namely; "differentiation", "cost leadership" and "product uniqueness". These resembled Porter's generic strategies, however, the results rejected his concept of the "stuck-in-the-middle" competitive situation. He had indicated that an integrated strategy using more than one form of competitive advantage is likely to fail to achieve advantage. The results indicate that combined strategies are not only possible, but are likely to be the most successful overall Internet strategy for retail banking firms to pursue. \ud The research concluded that the size and type of retail bank has direct impact on Internet strategy. Managers' perceptions of competitive advantage provided by the Internet is affected, both by the characteristics of their firms, and also by the Internet strategies that their banks employed. Internet strategies are confirmed to be mediation variables and have a good fit with the resource based view. This indicates that resource and core competences are crucial to the decision about which Internet strategies to employ to achieve maximum competitive advantage. The research therefore found that, in the Internet arena, the market-based view and the resource based perspective of competitive advantage may be seen as complementary as they are concerned with different domains (i. e. external and internal respectively). \ud However when considering the issue of sustainability, a hypercompetitive view is more appropriate. It suggests that constantly being flexible, innovative and quickly responding to the changing environment are the foundations required for firms to achieve sustainable competitive advantage. Further, a number of issues were identified to be important for the future of Internet banking

Topics: HG
OAI identifier:

Suggested articles


  1. 1) How fast is too fast? The McKinsey Quarterly 3,
  2. 1) The virtual logistics department: Next Generation Logistics Exchanges. Descartes System Group. Ascet Volume 3. WWW-document [ref.
  3. (1964). 4cademy ofManagement
  4. (2000). A
  5. (2004). A 1. (200 1) Determinants of Website Development:
  6. (2003). A comparison of online and postal data collection methods in marketing research.
  7. (2000). A Conceptual Framework for Understanding e-Service Quality: Implications for Future Research and Managerial Practice Marketing science insfituic
  8. (1985). A conceptual model of service quality and its implications for future research.
  9. (1988). A contingency view of Porter's -Generic Strategies". Academy ofManagement Review 10,192-205.
  10. (1976). A Cost/Benefit View of Prepaid Monetary Incentives in Mail Questionnaires.
  11. (1994). A Course in Game Theory. In: Anonymous Cambridge,
  12. (2003). A Delphi study of Internet banking. Marketing Intelligence& Planning 21,272-28 L(Abstract)
  13. (2000). A general theory of competition, Thousand Oaks:
  14. (2004). A guide to multivariate techniques [Web Page].
  15. (2002). A longitudinal price comparison for music CDs in electronic and brick-and-mortar markets: Pricing strategies in emeqrent electronic commerce.
  16. (2003). A model of trUSt in online relationship bankin-,
  17. (1979). A Paradigm for Developing Better Measures of Marketin,:, Constructs.
  18. (2001). A preliminary investigation of the relationships between employee motivation/vision, service learning, and perceived service quality.
  19. (1983). A Quantitative Review of Research Design Effects on Response Rates to Questionnaires.
  20. (2000). A reliable and valid measurement scale for the perceived service quality of banks
  21. (1996). A Resource-based Theory of the Firm: Knowledge vs.
  22. (2004). A Resource-based View of Strategic Alliances and Firm Value in the Electronic Marketplace.
  23. (2004). A Sample Selection Model of Consumer Adoption of Computer Banking.
  24. (2001). a The Governance of WtLiality.
  25. (1969). A Two-Dimensional Concept of Brand Loyalty.
  26. (2004). A winning Wales - The Financial Services Sector. Welsh development agency report (Abstract)
  27. (2003). Accessed
  28. (1999). Accessed Ist June2004. Available at: http: //www. cheskin. com
  29. (1997). Adding value to retail financial services.
  30. (1992). Adoption of the Marketing Concept by UK Building Societies .
  31. (1997). Advertising, Promotion, and SLIpplement Aspects of Integrated Marketing Communications. The Dryden Pre, ys, Orlando, United States ofAmerica.
  32. (1983). Agency problems and residual claims.
  33. (2004). Alternative Banking [Web Page],
  34. (1997). An analysis of the difference between organisation, identification and professional commitment: a study of Certified Public Accountants.
  35. (2003). An empirical evaluation of US bank customer perceptions of the impact of technology on service delivery In the banking sector.
  36. (2001). An empirical investigation of the Turkish consumers' acceptance of Internet banking services.
  37. (1982). An evolutionary theory of economic change, Cambridge:
  38. (1998). An exploration of customer exit in retail banking International Journal ofBank Marketing 16,6-14
  39. (1998). Another look at strategy? Structure relationships: The resource-Based view .
  40. (2001). Antecedents of commitment and trust in customer- supp lie r relationships in high technology markets.
  41. (1989). Applied Regression Models,
  42. (2001). Apr; Accessed
  43. (1999). Are Online Banks Profitable? Computerworld 34,33
  44. (1990). Assessing Corporate Performance, Business Strategy Review 1-16
  45. (1982). Asymptotic intervals for indirect effects in structural equations models.
  46. (2005). Available at:
  47. (1999). Available at: http: //news. bbc, co. uk/l/hi/business/your money/401244. stm
  48. (1999). Available at: http: //news. bbc. co. uk/l/hi/business/your_money/401244. stm 11feld,
  49. (1996). Bank strategic positioning and some determinants of bank selection
  50. (2004). Banking Revolution -a survey [Web Page].
  51. (1956). Barriers to New Competition
  52. (1996). Brand development versus new product development: towards a process model of extension decisions Marketing Intelligence and.
  53. (1996). Brand Loyalty: The Link Between Attitude and Behavior.
  54. (1993). Branding in Action Maidenhead,
  55. (2001). Branding Matters More on the Internet.
  56. (1999). Bricks and mortar banks could struggle in cyberspace.
  57. (2001). Brits take their bank accounts on-line. Business view
  58. (1999). Browsers or Buyers in Cyberspace? An Investigation of Factors Influencing Electronic Exchange.
  59. (2000). Building banks with mouse clicks, not bricks [Web Pagel.
  60. (1998). Building consumer trust online.
  61. (2000). Building Digital Brands. The McKinsey Quarterly 2,42-51 Debling,
  62. (2001). Building Profitable Online Customer-Brand Relationsbips.
  63. (2000). Building trust to develop competitive advantage in e-business relationships. Competitiveness Revielt,
  64. (1987). Business Strategy and Retailing Chichesier,
  65. (2001). Business Transformation on the Internet: Results form the 2000 Study.
  66. (1993). Can banks succeed in the current marketplace?
  67. (1998). Can First-Mover and Early -Mover Advantages be Sustained in an Industry with Low Barriers to Entry /Imitation?
  68. (1950). Capitalism, Socialism and Democracy, 3rd edn.
  69. (2001). Case study methodology as a means of theory building: performance measurement in facilities management organisations.
  70. (1989). Case Study Research: Design and Methods.
  71. (2000). Caught in the web of customer service.
  72. (2000). Changes in the banking sector - the case of Internet banking
  73. (2001). Clicks vs. Bricks in the Emerging Online Financial Services Industry. Long Range Planning
  74. (1996). Co-operateto Compete -Building Agile Business Relationships,
  75. (2001). Combining IS Research Methods: Towards a Pluralist Methodology.
  76. (1988). Combining Qualitative and Quantitative Methods in Information Systems Research: A Case Study.
  77. (1996). Communication: a key factor in strategy implementation.
  78. (1992). Competing on Capabilities: the Nev. " Rules of Corporate Strategy.
  79. (1998). Competing on the Edge,
  80. (1994). Competing paradigms in qualitative research. In: Dezin,
  81. (2003). Competition and Efficiency in UK Banking; The Impact of Corporate Ownership Structure. Nottingham and Loughborough.
  82. (1992). Competition between banks and building societies in the retailing of financial services.
  83. (1985). Competitive Advantage: creating and sustaining superior 447 performance,
  84. (1997). CompetitIve and corporate strategy. Iriv,,,,
  85. (1992). Competitive marketing strategy. Englewood Cliffs,
  86. (1998). Configuring value for competitive advantage: on chains, shops and networks.
  87. (1986). Connecting systems objectives to business strategy with BSP.
  88. (2004). Consumer acceptance of online banking: an extension of the technology acceptance model. Internet Research.
  89. (2001). Consumer Complaints by E-Mail: An Exploratory Investigation of Corporate Responses and Customer Reactions.
  90. (1988). Consumer Perceptions of Price, Quality, and Value: A Conceptual Model and Synthesis of
  91. (2000). Consumer trust in an Internet store.
  92. (2001). Consumers' Perceptions of Service Quality in Internet commerce: Strategic Implications.
  93. (1991). Contem orary Strategy Analysis.,
  94. (1995). Contemporary Strategy Analysis,
  95. (1985). Corporate distinctive competence, strategy, industry and performance.
  96. (2004). Corporate image meastirement: A further problem for the tangibilisation of Internet bankIng services.
  97. (2000). Cost Transparency: The Net's Real Threat to Prices and Brands.
  98. (1999). Creating a High-Impact Digital Customer Exper0we,
  99. (2000). Creating and Managing Brand Experience on the Internet.
  100. (2000). Creating and Nurturing a Premier E-Business.
  101. (2003). Cross-selling in UK Financial Services
  102. (2001). Current issues in e -banking.
  103. (1999). Current status and plans for Internet banking as reported by CEOs.
  104. (2000). Customer Relationship Management (CRM) in Financial Services.
  105. (2003). Customer-focused Technology and Performance in Small and Large Banks.
  106. (2005). Customer-Orientated Banking and Account Origination [Web Page].
  107. (2000). Customer/Brand Loyalty in an Interactive Marketplace.
  108. (2002). Defining marketing information needs: an exploratory study of senior marketing executives.
  109. (1996). Determinants of customer satisfaction in retail banking.
  110. (1994). Determinants of Long-Term Orientation in Buyer-Seller Relationships.
  111. (1988). Differentiation versus low cost or differentiation and low cost: a contingency framework. Academy ofManagement Review
  112. (1982). Dilemmatics: The Study of Research Choices and Dilemmas.
  113. (1989). Discovering your firm's strongest competitive advantages. In:
  114. (1996). Divided by the Banking: Implications of Branding and Loyalty',
  115. (2001). Does the Internet compete with or complement bricks-andmortar bank branches?
  116. (2000). Dynamic Capabilities: What Are They?
  117. (2000). E-banking yet to hit the right note with everyone. The Straits Times
  118. (2001). E-Business: Revolution, Evolution or Hype? California Management Review 44,
  119. (2000). E-loyalty: your secret weapon on the Web.
  120. (1999). E-mail and snail mail face off in rematch.
  121. (2001). E-marketing , Upper Saddle River:
  122. (2001). E-Supply Chain. - Using the Internet to Revoltionise Your Business. - How Market Leaders Focus,
  123. (1998). Early adopters of the web as a retail medium: small company winners and losers. European Journal q1'
  124. (1996). Eating your own Lunch: Protection through preemption.
  125. (2002). EFF's Top 12 Ways to Protect Your Online Privacy.
  126. (2004). Electronic Banking and Information Assurance Issues: Survey and Synthesis.
  127. (1996). Electronic commerce: Structures and issues,
  128. (2004). Electronic marketing, the new kid on the block.
  129. (2002). Employee engagement and manager selfefficacy .
  130. (1988). Environment, Generic Strategies, and Performance in a Rapidly Developing Country: A Taxonomic Approach Academy of
  131. (1996). Establishing and maintaining security on the Internet.
  132. (1993). Estimating mediated effects in prevention studies. Evaluation Revieit,
  133. (2003). Europe's online banking population to rise [Web Page].
  134. (1981). Evaluating structural equation models with unobservable variables and measurement error.
  135. (1999). Evaluating the use of exploratory factor analysis in psychological research.
  136. (2002). Evidence of the effect of trust building technology in electronic markets: price premiums and buyer behavior,
  137. (2000). Expanding to the Internet: Pricing and Communications Strategies When Firms Compete on Multiple Channels.
  138. (1999). Experiential Marketing: How to Get Customers to Sense, Feel, Think, Act and Relate to Your Company and Brands.
  139. (1999). Experts' views about defining services brands and the principles of services branding
  140. (1997). Exploring the Implications of the Internet for Consumer Marketing.
  141. (1997). Extranets: Great EC strategies don't die; they get recycled.
  142. (2002). Factors underlying attitude formation towards online banking in Finland.
  143. (1987). Financial returns and strategic interaction.
  144. (1991). Firm resources and sustained competitive advantage.
  145. (1988). First mover advantages.
  146. (2003). Forecasting expenses related to SBLA and CSBFA
  147. (1993). Foundations of Corporate Success,
  148. (1989). Fourth generation ei, alualion.
  149. (2000). Frictionless commerce? A comparison of Internet and conventional retailers.
  150. (2000). From Unemployment to Self-Employment: Developing an effective structure of micro-finance support. NIESR publications Discussion paper 170
  151. (1996). Frontiers of Electronic Commerce,
  152. (1996). Gaining and Sustaining Competitive Advantage,
  153. (1986). Generic business strategies, organisational context and performance: An empirical investigation.
  154. (2000). Get the Right Mix of Bricks & Clicks. Harvard Business Review May-June,
  155. (1999). Getting Real about Virtual Commerce.
  156. (2001). Giving Europeans an on-line push. McKinsey Quarter4i, Special Edition,
  157. (2004). Global Round-up.
  158. (1998). How Affluent Investors Use The Internet-A Look At Millionaires And Their Money From
  159. (2000). How digital is your business? Available at http: //www.
  160. (2002). How Do UK Financial Institutions Really Price Their Banking Products?
  161. (1988). How Firms Compete: a New Classification of Generic Strategies
  162. (1999). How the Internet Redefines Banking. The Banker 149,75
  163. (2000). How to acquire customers on the Web. Harvard Business Review May-June,
  164. (1999). How to build trust online.
  165. (2004). http: //www. jupiterresearch. com/bin/item. p [/home
  166. (1994). Hypercompetition,
  167. (2004). Identifying and sustaining services brands' values.
  168. (1992). Identifying Mobility Barriers. Strategic Management.
  169. (1982). Impact of consultants on computerisation success in small businesses.
  170. (1986). Improving response rates in industrial mail surveys.
  171. (2004). In search of the Intemet-banking customer: Exploring the use of decision styles.
  172. (1998). Industrial Mail Surveys - Foot-In-Door and Prepaid Monetary Incentives .
  173. (1996). Industrial mail surveys: techniques for inducing response.
  174. (1970). Industrial market structure and economic performance,
  175. (1968). Industrial Organisation. 2 nd edition
  176. (1999). Information privacy concerns, procedural fairness, and impersonal trust: an emplrlcal Investigation.
  177. (1999). Information Rules: A Strategic Guide to the Network Economy.,
  178. (2001). Infornediation and Competitive Advantage in 132b Digital Marketplace.
  179. (2003). Insights into customer motivations for switching to Internet banking.
  180. (2001). Interactive Money Transmission and Banking Mintel report [Web Page].
  181. (2004). Internet banking in the UK: Why are there not more customers? Journal ofFinancial Services Marketing 9,49-56
  182. (2002). Internet Banking.
  183. (1999). Internet strategy: Why banks may be getting it wrong--and how to get it right.
  184. (2003). Internet Traffic Growth: Sources and Implications.
  185. (2002). Internet, interaction and implications for marketing.
  186. (1996). Intranet strategic deployment - building on
  187. (1996). Intranets: a new world order.
  188. (2001). Introduction to e-commerce Irwin A'-ew
  189. (1976). Introduction to Statistics for the Behavioral Sciences,
  190. (2002). Introduction to Survey Methodology and Design [Web Page].
  191. (2001). Is internet banking profitable yet?
  192. (2003). Issues and dilemmas in teaching research methods courses in social and behavioral sciences.
  193. (1993). IT and competitive advantage. ITStrategyfor Business.
  194. (1996). IT strategic planning and architecture: methodologies reengineered .
  195. (2002). Know your customer" marketing, governmental ity. and the 11 new consumer" of financial services. Management Decision.
  196. (2005). Lessons in outsourcing; The Texas Instruments experience [Web Page].
  197. (1993). Let's get intimate.
  198. (1998). Leveraging the potential of strategic systems.
  199. (1999). Mail myopia: or examining financial services marketing from a brand commitment perspective.
  200. (1975). Mail Surveys and Response Rates: A Literature Review.
  201. (2000). Making trust the center of your Internet strategy.
  202. (2002). Management Research. - An Introduction,
  203. (1994). Managerial Representations of Competitive Advantage.
  204. (1998). Market-based assets and shareholder value: A framework for analysis,
  205. (1996). Marketing in Hypermedia ComputerMediated Environments: Conceptual Foundations .
  206. (2004). Marketing online banking to the indifferent consumer: A longitudinal analysis of banks' actions.
  207. (1986). Marketing Research: Meaning, Measurement, and Method: A Text with Cases,
  208. (1999). Marketing Strategy: An Assessment of the State of the Filed and Outlook.
  209. (1998). Matching Electronic Distribution Channels to Product Characteristics: The Role of Congruence in Consideration Set Formation.
  210. (2000). Measuring perceived service quality using integrated conjoint experiments.
  211. (1992). Measuring Service Quality: A Re-Examination and Extension
  212. (1999). Measuring the biodegradability of nonylphenol ether carboxylates octylphenol ether carboxylates and nonylphenol.
  213. (2002). Mellon, afew parts make a better whole.
  214. (1998). Merger enforcement guidelines as applied to a bank merger Letter to the Canadian competition bureau Clarke, K. (200 1) What price on loyalty when a brand switch is just a click away? Qualitative Market Research..
  215. (2002). Methodolgy for collecting dtat about survey non-respondencts Institute ofsocial and economic research workingpapers 2002-05,
  216. (1979). Mixing qualitative and quantitative methods: triangulation in action.
  217. (1994). Modern competitive analysis, 2 edn.
  218. (1993). More than 60 million Europeans bank online etc. (2003.2004)
  219. (1998). Mutuals in the financial system.
  220. (1985). Naturalistic inquiry,
  221. (1997). Net. gain: Expanding Markets ThrOLIgh 431 Virtual Communities.
  222. (1992). Nonresponse and delayed response to competitive moves: The roles of competitor dependence and action irreversibility.
  223. Offshoring and Cross-Border Outsourcing by Banks. A presentation at the International Supervision Conferencefor Developed Nations. Much of the material in the presentation related to Deloitte's
  224. (2000). On risk, convenience, and Internet shopping behaviour.
  225. (1997). On-line banking: Strategic and management challenges. Long Range Planning 30,890-898.
  226. (2004). Online banking information: what we want and what we get.
  227. (2001). Online banking: a field study of drivers, development challenges, and expectations.
  228. (2004). Online Banks Continue to Improve [Web Page]. 2003,2004; Accessed
  229. (2002). Online banks have reason to Smile. http: //www.
  230. (1990). Organisatie Onderzoek. Leerboek voor de praktijk: het ontwerpen van onderzoek in organisatie. Assen Va Gorcun 43-44. (Abstract)
  231. (1996). Organisational complexity and innovation: developing and testing multiple contingency models.
  232. (1999). Organisational Configurations and Performance: The Role of Statistical Power in Extant Research.
  233. (1978). Organisational strategy, structure and process
  234. (2001). Organising for the effective introduction of new distribution channels in retail banking. European Journal o Marketing 35,661-686. ýf Mora, C. Internet Banking: A Dual Strategy [Web Page].
  235. (2000). Patterns of Disruption in Retailing Harvard Business Review
  236. (1994). Perceived attributes of ATMs and their marketing implications.
  237. (2000). Personal End-User Tools Association for computing Machinery.
  238. (2000). Planning is key to cyberbanking success Bank System and Technology 37(2) Ramsaran,
  239. (2002). Policy in an Uncertain Global Economy.
  240. (1984). Porter's generic strategies as determinants of strategic group membership and performance.
  241. (2001). Privacy and security concerns as major barriers for e-commerce: a SUrvey study.
  242. (2005). Private Businesses and Their Banks
  243. (1981). Process analysis: Estimating mediation in treatment evaluations.
  244. (1998). Processes of a case study methodology for postgraduate research in marketing.
  245. (1992). Product introduction with network externalities.
  246. (2001). Property Rights and Corporate Governance Report preparedfor the Building Societies Association and the Norwich & Peterborough Building Society (Cambridge,
  247. (1999). Provision of electronic banking in the UK and the Republic of Ireland.
  248. (1997). Qualitative Research in Information Systems.
  249. (1997). Quantitative Data Analysis with SPSS for Window.,
  250. (2005). Ranking banks cross-selling opportunities.
  251. (2001). Re-Weaving the Web: Integrating Print and Online Communications.
  252. (1998). Redefining industry structure for the infon-nation age.
  253. (1988). Relation of sample size to the stability of component patterns,
  254. (2005). Relationship management in banking [Web Page].
  255. (1998). Relationship marketing and its synergy with Web based technologies.
  256. (2003). Relationship marketing in the banking sector: the impact of new technologies.
  257. (1996). Relationship marketing: how market research can help build better relationships with your customers Research International,
  258. (1997). Research Methods for Business Students London.
  259. (1995). Research Methods in Management Accounting Melbourne: Coopers
  260. (2003). Research Methods. -Paradigms [Web Page].
  261. Research. Research reliability.
  262. (2001). Resource-based theories of competitive advantage: A ten-year retrospective on the resource-based view.
  263. (2004). Retail Direct. Analyst conference (Abstract)
  264. Retail Direct. Analyst conference. http: //www.
  265. (1994). Retail Management, 2 nd edition.
  266. (1998). Retail's Growth Spiral. The Forrester Report 1(8)., Melewar,
  267. (1998). Retaining profitable customers. US Banker [Web Page].
  268. (1999). Rethinking research methods for the resource-based perspective: isolating sources of sustainable competitive advantage
  269. (2001). Review of Pacific Basin Financial Markets & Policies.
  270. (2001). Revisiting an identity-based view of sustainable competitive advantage.
  271. (2003). Security for Internet banking: a framework.
  272. (1983). Separation of ownership and control.
  273. (1999). Service quality in the banking sector: the impact of technology on service delivery.
  274. (1988). SERVQUAL: A multi item scale for measuring consumer perception of service quality.
  275. (1998). Seven deadly website sins ZDNetAnchorDesk
  276. (2004). Shattered Myths. Bank Director Magazine
  277. (1996). Slow craw I on the Internet.
  278. (1999). Some Attitudinal Predictors of Home Shopping Through the Internet .
  279. (1983). Some tests of the effectiveness of functional attributes of Miles and Snow's strategic types
  280. (1997). Strategic channel design.
  281. (1994). Strategic resources: Traits, configurations, and paths to sustainable competitive advantage.
  282. (2000). Strategies for Value Creation in ECommerce: Best Practice in Europe.
  283. (1990). Strategy, complexity and economic rent.
  284. (1998). Strategy: Process, Content,
  285. (2000). Structural Equation Modeling and Regression: Guidelines for Research Practice. Comm un icatioi is ofthe Associationsfor Information Systems
  286. (1999). Superstars or shooting stars. BIA Banking strategies [Web Page].
  287. (1980). Survival Strategies in a Hostile Environment.
  288. (1986). Sustainable Advantage. Harvard Business Review September-October,
  289. (2005). Sustainable competitive advantage [Web Page].
  290. (1993). Sustainable competitive advantage in service industries.
  291. (1999). Sustainable competitive advantage: towards a dynamic resourced-based strategy.
  292. (1986). Sustainable Competitive Advantage: What It Is, What It Isn't.
  293. (1997). Sustainable competitive advantage:. Combining institutional and resource-based views.
  294. (2000). Syndication - the ernerging business model for business in the Internet era. HarvardBusiness Review May-June,
  295. (1998). The account snatchers [Web Page].
  296. (1997). The adoption of direct banking services
  297. (1999). The adoption of virtual banking: and empirical study.
  298. (1983). The Anatomy of Competition.
  299. (2001). The Application of a Relationship Marketing Perspective in Retail Banking Service Industries
  300. (1998). The bank of tomorrow with today's technology.
  301. (1994). The capabilities of market-driven organisations.
  302. (1987). The Case Research Strategy in Studies of Information Systems.
  303. (2001). The changing competitive landscape of retail banking in the ecommerce age.
  304. (1994). The commitment-trust theory of relationship marketing.
  305. (1995). The Comparative Advantage Theory of Competition.
  306. (1995). The Competition Heats UO in Online Banking. Formne Seybold,
  307. (1990). The Competitive Advantage of Nations. Free press
  308. (1993). The Cornerstones of Competitive Advantage: A ResourceBased View .
  309. (2000). The customer speaks: 3,300 Internet users tell us what they want from retail financial services http: //ýww.
  310. (1984). The debate about quantitative and qualitative research: a question of method or epistemology?
  311. (2000). The determinants of success in the new financial services environment: now that firms can do everything, what should they do and why should regulators Economic Polic, i, ReOcli% FC(It! l-al Reserve Bank ofNew
  312. (2001). The Diffusion of Financial Innovations: An Examination of the Adoption of Small Business Credit Scoring by Large Bank Organisations,
  313. (1995). The discipline of market leaders. - choose your customers, narrow your focus, dominate your market,
  314. (1994). The dynamic capabilites of firms: an introduction Industrial and Corporate Change,
  315. (1992). The dynamics of compelitille Strategy,
  316. (1995). The effect of introducing important incremental innovations on market share and business survival.
  317. (1999). The effects of technology in the EU banking systems. Frankfurt am
  318. (1998). The effects of variable and subject sampfing on factor pattern recovery.
  319. (1999). The electronic "go-between service provider" A new 'middle'role taking centre stage.
  320. (2000). The Electronic Delivery Channel for Financial SerN ices The European Union Finance and Banking News Nelivork
  321. (2001). The emerging landscape for retail e-commerce.
  322. (2004). The European Wealth Management and Private Banking Market Outlook: Optimising customer value in a demanding marketplace.
  323. (1978). The Forum of Private Business (Abstract)
  324. (1996). The Future of Interactive Marketing. HarvardBlIsiness Review (Novem ber-Decem ber) p 151
  325. (1997). The Future Role of Bank Branches and Their Managers:. Comparing Managerial Perceptions in Canada and Spain,
  326. (2002). The impact of initial trust on intentions to transact with a web site: a trust building model.
  327. (1986). The impact of internal marketing on consumer service in a retail bank.
  328. (1996). The impact of Service Quality and Service Characteristics on Customer Retention: Small Businesses and their Banks in 427 the UK.
  329. (1998). The Importance of Trust
  330. (2000). The Internet and services marketing--the case of Danish retail banking.
  331. (1998). The Internet and the banks' strategic distribution channel decisions.
  332. (1999). The Internet will shake banking's medieval foundations.
  333. (2000). The Internet: A New Era in Customer Service.
  334. (2001). The key determinants of Internet banking service quality: a content analysis.
  335. (1996). The Loyalty Effect,
  336. (2004). The Missing Link: The Mediating Role of Collective and Self-efficacy between Trans formational Leadership and Work-related Outcomes. Applied Psychology ofJournal
  337. (1986). The moderator-mediator variable distinction in social psychological research: conceptual, strategic, and statisfical consideration.
  338. (2000). The NetOffer model: a case example from the virtual marketspace Managemeni Decision
  339. (1989). The Origin of Strategy. Harvard Business Review
  340. (2003). The Past, Present, and Probable Future for Community Banks. Working Papers, Federal Reserve Bank
  341. (2003). The preferences of high speed Internet customers [Web Page].
  342. (2003). The relationship between consumer characteristics and attitude toward online shopping.
  343. (1997). The relationship between generic and time based strategies and performance.
  344. (1998). The relationship between qualitative and quantitative research: paradigm loyalty versus methodological eclecticism. In: Anonymous Handbook of Qualitative research methods for psychological and the social sciences. United Kingdom:
  345. (2001). The resource-based view and marketing: The role of market-based assets in gaining competitive advantage.
  346. (2005). The Revolution that hasn't come [Web Page].
  347. (2000). The Revolution Will Not Be Televised: Introduction to the Special Issue on Marketing Science and the Internet. Marketing Scielice
  348. (1999). The role of competitive action in market share erosion and industry dethronement: a study of industry leaders and challengers.
  349. (2002). The role of trust, quality, value and risk in conducting e-business.
  350. (2004). The Saliency and Significance of Generic Identity: An Exploratory Study of UK Building Societies. Working Paper series No 04118 He. Hong-Wei
  351. (1996). The simplicity of strategic repertories.
  352. (1991). The Strategy Handbook,
  353. (1960). The Strategy of Conflict,
  354. (1959). The Theory of The Growth OF the Firm,
  355. (1996). The Two Faces of Competition: Dynamic Resourcefulness 455 and Hypercompetitive Shift.
  356. (2003). The Value of Multi-Channel Banking [Web Page].
  357. (2004). The Voice of the Customer in e- banking relationships.
  358. (1994). The Web as a Distribution Channel.
  359. (2000). Through the loop consulting (TTLC).
  360. (2003). Total Global Strategy 11: Updated for the Internet and Service Era, Upper Saddle River,
  361. (2002). Traditional vs. virtual service
  362. (2001). Transformative Power of e-Business Over Consumer Brands.
  363. (1999). Trust: A Sociological Theory Cambridge:
  364. (2002). Trustworthiness in electronic commerce: the role of privacy, security and site attributes.
  365. (1982). Uncertain imitability: An analysis of interfirm differences in efficiency under competition.
  366. (1997). Understanding competitive advantage in retail financial services.
  367. (2000). Understanding digital markets: 452 review and
  368. (1991). Understanding mail survey response behavior.
  369. (2000). Understanding the Consumer Experience: Its 'good to talk'
  370. (2004). use in sheltered housing: Older people's access to new media and online service delivery. Joseph Rowntree Foundation; Digital Age
  371. (1995). USENET Readership Report for
  372. (1996). Using multivariate statistics .
  373. (1989). Using multivariate statistics (2nd ed).
  374. (1997). Value-driven Relational Marketing: from Products to Resources and Competencies.
  375. (2000). We must talk face to face, customers tell bankers. The Daily Mail 37,
  376. (1998). Web banking in
  377. (2004). Web site [Web Page].
  378. (2003). Web site characteristics and business performance: some evidence form international business-to-business organisations.
  379. (2003). What in the World is. Competitive Advantage? Policy Working. Paper 105 edn The Anderson School at. UCLA Sabbagh,
  380. (1998). What Makes Commercial Web Pages Popular?
  381. (1990). What we know about the Strategic Management of Technology California
  382. (2000). Who Offers Internet Banking.
  383. (1999). Why banks may be getting it wrong - and how to get it right.
  384. (2002). Why onllne banking users give up. Business view brief,
  385. (2001). Wide Web Marketing.;
  386. (2004). Working Group: Internet Banking Issues paper [Web Page].
  387. (1999). www. your-community-bank. com: community banks are going online. Community and Banking Boston: Federal Reserve Bank of Boston.
  388. (1998). ýA fidiii-arit Ile Data Analysis, 5th edn. Upper Saddle River,
  389. (2005). Your money - Personal Bnaking and Internet Banking [Web Page].

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.