How artificial intelligence can help banks improve the customer experience of buying a house

The focus of this thesis is to understand how artificial intelligence can help banks in general to improve the customer journey of buying a house. Since the financial crisis, banks have been struggling to maintain profitability. The drivers for change in the industry are now the new competitors emerging in the financial landscape, new regulations implemented in the industry and the new customers’ expectations regarding technology. This thesis argues that banks could use their natural advantage with mortgage loans and their investments in artificial intelligence to improve the customer journey of buying a house. After conducting research, dept interviews and customer research, the customer journey was outlined and concluded that overall, the buying of a house is a complicated and unfamiliar process. Followed AI focused research, a new and enriched customer journey was drawn and complemented. It is suggested that banks implement AI to make the process more transparent and easier to navigate. A virtual real-estate agent powered by AI would assure the bank that the process is completed and guarantee the banks revenues for customer loans. Leveraging AI algorithms and customer information the bank can help the customer narrow down its searches presenting viable housing options to the customer which allows the bank to increase customer satisfaction, reduce customer churn, reduce the banks operational costs and ensure the revenues from mortgage loans.O foco desta tese é entender como a inteligência artificial pode ajudar os bancos em geral a melhorar a jornada do cliente de comprar uma casa. Desde a crise financeira, os bancos têm sindo desafiados para se manterem lucrativos. Os impulsionadores da mudança no setor são agora os novos concorrentes que emergem no cenário financeiro, novas regulamentações implementadas no setor e as novas expectativas dos clientes em relação à tecnologia. Esta tese argumenta que os bancos poderiam usar a sua vantagem natural com empréstimos bancários e seus investimentos em inteligência artificial para melhorar a jornada do cliente na comprar de casa. Depois de conduzida pesquisa através de entrevistas e pesquisa de clientes, a jornada do cliente foi delineada e concluiu que, em geral, a compra de uma casa é um processo complicado e desconhecido. Seguindo a pesquisa focada em IA, uma jornada de clientes nova e enriquecida foi desenhada e complementada. Sugere-se que os bancos implementem IA para tornar o processo mais transparente e mais fácil de navegar. Um agente imobiliário virtual impulsionado pela IA garantiria ao banco que o processo está concluído e garantiria as receitas dos bancos para empréstimos a clientes. Alavancando algoritmos de IA e informações de clientes, o banco pode ajudar o cliente a restringir buscas apresentando opções de habitação viáveis ao cliente, o que permite ao banco aumentar a satisfação do cliente, reduzir a rotatividade de clientes, reduzir os custos operacionais e garantir as receitas de empréstimos bancários

Costs and benefits of superfast broadband in the UK

This paper was commissioned from LSE Enterprise by Convergys Smart Revenue Solutions to stimulate an open and constructive debate among the main stakeholders about the balance between the costs, the revenues, and the societal benefits of ‘superfast’ broadband. The intent has been to analyse the available facts and to propose wider perspectives on economic and social interactions. The paper has two parts: one concentrates on superfast broadband deployment and the associated economic and social implications (for the UK and its service providers), and the other considers alternative social science approaches to these implications. Both parts consider the potential contribution of smart solutions to superfast broadband provision and use. Whereas Part I takes the “national perspective” and the “service provider perspective”, which deal with the implications of superfast broadband for the UK and for service providers, Part II views matters in other ways, particularly by looking at how to realise values beyond the market economy, such as those inherent in neighbourliness, trust and democrac

Implementing automated decision systems to optomise customer life cycle management in the retail furniture industry in South Africa.

Thesis (MBA)-University of Natal, Durban, 2003.The origins of the retail furniture industry commenced with family run stores, traditionally known as "momma and poppa" stores as they were entrenched in certain families. A feature of these stores was that they traded with people that they knew and enjoyed a great deal of loyalty. As the businesses grew there was a need to supply furniture to their clientele with a facility to repay the full price over a number of months. Such arrangements were typically concluded on trust as the customers were well known by the owners. The industry has evolved from this type of operation to a multi-billion rand industry. In terms of the size of business that is transacted and the size of the major furniture retailing organisations, it is simply not possible to continue doing business in accordance with the same ethos that prevailed during the early days. However, given the decentralised nature of the industry, the philosophy of knowing their customers has prevailed and this notion of wanting to conduct business on this basis has largely been responsible for a many critical functions remaining under the control of the individual stores within the broader network. In terms of the high volume of transactions that are currently concluded, it is extremely difficult to ensure that the application of policy and risk-based decisions are made on a consistent basis. From a cost effectiveness and productivity point of view, it is not possible to realise efficiencies and economies of scale that could be enjoyed if certain business processes were centralised. The intention of this research is to evaluate how the introduction of automated decision making business processes can contribute towards managing the organisation's exposure to risk with the view to achieving required levels of organizational performance and also sustainable value creation through a customer-centric philosophy

Corporate long-range planning in South Africa: its extent and nature

This thesis was written in response to the increasingly evident need for the most complete information possible on planning activity and practices among South African firms. It was also dictated by an urgent necessity to clarify the methodologies, techniques and frameworks used at present in business planning. Alas, only too often scholars and practitioners alike assume that a comprehensive and general theory on planning exists, complete with methodologies, models, frameworks and so forth. But anyone examining the vast amount of literature on planning and related subjects published during the past twenty years would find this to be a fallacy, and may experience the same desire for the clarification of the present status of the planning art as we did. This desire became one of the principal stimuli for our investigation. Some studies may be built on already well-established foundations, but this is unfortunately not the case in our enquiry as there is as yet no appreciable base consisting of a distinct body of knowledge and relevant theories. In attempting to delineate this knowledge, a necessary point of departure is an appraisal of the current state of human knowledge. We shall, therefore, start with a broad review of this knowledge and narrow it down to areas which are particularly relevant to business planning. This attempt will, hopefully, point to a body of distinct knowledge indispensable to modern planners and show that, - whilst a large body of this knowledge lies within a discipline called 'management science', other relevant knowledge is found in economics, organisation theory and theory of knowledge. This analysis will, at the same time, highlight the present status of the relevant theory of planning, and indicate gaps between the state of the art and the needs of the business. We shall suggest that a general planning theory must come from an interdisciplinary approach. The aim of these efforts is to develop a broad framework and guide for our analysis of planning activity, concepts and methodologies at present used by South African firms. On the basis of these findings we shall than make judgements on the manner in which South African planners address each of the descriptive and normative planning topics, and suggest possible directions for further research. Finally, we shall attempt to formulate a conceptual long-range planning model as we see it, and discuss the usefulness of formal, mathematical planning models as revealed by our study and survey

Traits of today\u27s CFO : a handbook for excelling in an evolving role

https://egrove.olemiss.edu/aicpa_guides/2684/thumbnail.jp

Influencing the Front-End of Innovation: A Study of Resource Challenges in The Banking Sector

Abstract Title: Influencing the Front-End of Innovation: A Study of Resource Challenges in The Banking Sector Date of Hand-in: 17/05/2017 Course: Corporate Entrepreneurship and Innovation: Internship and degree project ENTN 39 (Master’s Thesis 15 ECTS) Author: Adam Kachra-Johansson and Ross Mckinlay Supervisor: Joakim Winborg Examiner: Sotaro Shibayama Keywords: Resources, Resource challenges, Resource scarcity, Front-end of innovation, New Service Development Research Question: How do resource challenges influence the front-end of innovation in the banking industry? Methodology: An inductive approach, with deductive elements as well, was used within this case study. Semi-structured interviews were the main method of data collection, and the qualitative data analysis was done in line with Gioia et al. (2012). Theoretical Perspectives: In terms of epistemology, an interpretivist approach was utilised to allow for the potentially subjective nature of the data to be considered. The ontological considerations of this paper are centred around constructionism. Conclusions: The resource challenges - in terms of type, level and flexibility - within the case company influence several different constraints; Poor Cross-Functional Collaboration; Lack of Engagement; Limited Dynamic Development; Lack of an Efficient Structure; and Unsupportive Front-End Strategy. This study goes into a new level of depth, previously unexplored in related literature. The constraints identified can have negative effects on the output of the front-end and have various relationships with each other. These constraints can also lead to a change in working practices to mitigate their effects. The Resource Challenges Model provides a visualisation of the study’s findings

Business model innovation for sustainable development: green technologies and BOP (Bottom of Pyramid) in emerging countries: South Africa and India

Doctoral research dissertation in the fulfilment of the requirements for the degree Doctor of Philosophy in Marketing at the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, South Africa, 2016Globally, a vision exists of an economy which produces social, environmental and economic benefits, viz-a-viz three pillars of sustainable development, for all the individuals, communities and society at large. It also focuses on the development of the sustainable use of natural resources, to achieve a greater enviable society, therefore giving rise to the green economy (Bigg 2011). To make businesses sustainable, companies are increasingly focusing on green innovation, sustainable business solutions and re-inventing their business models, and expanding to untapped markets such as the bottom of the pyramid (BOP), consisting of more than four billion potential consumers (Farinelli, Bottini, Akkoyunlu & Aerni, 2011). Most research shows growth opportunities of green products in the bottom of pyramid (Olsen & Boxenbaum, 2009), and has increasingly created deliberations all over the world. Also, companies from both developed and developing countries are becoming increasingly interested in BOP. To successfully target the BOP with ‘green’ technologies, companies focus their business models on innovation, sustainability and economic profit, instead of gross margins (Prahalad & Hart, 2008). Very limited research evidence is present that links all these concepts together. And therefore, created an interest to examine how integration of green technology bring changes in business model innovation (BMI) for sustainability at BOP markets. The linkage between concepts - BMI, BOP and green technology, to bring sustainable development, has not been sufficiently explored, and especially with focus on emerging economies like South Africa and India. Therefore, the present research has three fold purposes. Firstly, to analyse and understand factors affecting the existing business models of various companies with green technologies targeting BOP markets for sustainable development. Secondly, the research brings an identification and understanding of number of key factors related to BMI, BOP markets and green technologies for sustainable development, and proposes a conceptual framework based on a series of underpinning relationships among these factors. Thirdly, it testifies the conceptualized theoretical framework on green business model innovation for sustainable development for BOP markets, among large companies. The primary objective of research study is to design a right green business model innovation across companies with green technologies for BOP markets. The secondary objective is to identify and compare the differences and similarities of green business model innovation for BOP markets of both South Africa and India. The present research undertakes a sequential exploratory mixed method approach, and is carried out in three phases: Phase 1: Exploration and study of business model innovation of identified industries/sectors with green technologies, targeting BOP segment for sustainable development, using qualitative research methods to formulate multiple cases. Phase 2: Identification of underpinning factors related to BMI, sustainable development and BOP consumers for green technologies; using qualitative methods and content analysis of results from phase 1, leading to design and development of theoretical framework of green business model innovation for South Africa and India. Phase 3: Testing of conceptualized framework of green business model innovation for sustainable development, using quantitative research methods. The present research tests underpinning factors of emerging green business model innovation for sustainable development, resulting from the qualitative phase, and is used to expand and generalize qualitative findings by using quantitative methods. The findings resulted in linking three theoretical emerging topics in the literature: business model innovation (BMI), green technology for sustainability and BOP. Four cases are developed through 33 face-to-face in-depth interviews with company top executives, using multiple case study approach. Each case comprised of sustainable business model innovation, representing comparison between South Africa and India, across four industries, namely, Energy, Banking, FMCG/Durable sectors and Cloud Computing. Qualitative content analysis and findings resulted in formation of themes and sub-themes and proposed prepositions, depicting the relationship between BMI, BOP, and green technology for sustainability. These prepositions aided in development of conceptual framework and proposed nine hypotheses. The conceptual model is quantitatively surveyed on 206 employees of large companies with focus on BOP markets. The quantitative findings supported all nine hypotheses. Therefore, indicating that integration of green technology is associated with performance of green product/service innovation and green process innovation in a company. Likewise, business model innovation variables; customer interface, infrastructure management and financial aspects, positively impacts sustainability of business model. The contribution of this thesis is in the development of green business model innovation for sustainable development, with focus on BOP markets. This adds to the contextual knowledge and empirical literature on business model innovation, green technologies and BOP markets. Theoretically, it brings better understanding of these concepts, and provides a basis of further research highlighting the importance of innovation while taking account of green economy and BOP. The findings provide marketing practitioners with better understanding of strategies that can be employed to innovate and change their own business models to incorporate green and sustainable initiative for BOP markets.XL201

Risk management in emerging fashion markets

Apparel retailers operating in global markets need to consider all kind of risks associated with their expansion strategies. Emerging markets present a unique profile of risks including geopolitical, regulatory, financial, currency and governance. Companies operating in emerging markets must protect their investment and develop safeguards against risks. This can be achieved through an understanding of the country‘s requirements for business and by tailoring their supply chain strategies to meet the unique needs of each market. The European integration allows countries with emerging and developing economies to offer opportunities for business growth and high returns. However, as they conceal greater risk than mature markets, a coherent strategy is necessary with strong communication links within the supply chain and an effective risk management framework is needed. Through the initial literature review it was hypothesised that countries at different stages of becoming emerging markets would present different levels of risks for fashion apparel firms. The meaning of risk within the business environment is evaluated and the tools that organisations have developed according to companies‘ risk appetite. A deductive qualitative approach to this research employs case studies of three Eastern European Countries - Hungary, Czech Republic and Greece and four fashion retailers – Esprit, Mango, H&M and Zara. Risks, uncertainties and disruptions that the companies had reported were connected with the risks identified in the selected markets. Twelve models were developed in order to test the hypothesis and satisfy the objectives. The models were based on the impact of, and the frequency of the risks identified by measuring the risk factors of Political, Economical, Social, Technological, Legal, Environmental and Supply Chain (PESTLE). First of all, the evaluation of the risk factors in each set of companies and countries was presented by creating a generic model showing the different levels of risk and following with an identification of risks concealed in each country for each company. On the basis of risks and uncertainties, each of the selected companies presented information regarding risks according to its nature and its risk appetite. The generic model was developed using IRM, COSO and ONDD frameworks. The risk factors were measured qualitatively and were determined by multiplying the impact and the PhD Risk Management in Emerging Fashion Markets Manchester Metropolitan University iv likelihood presented in additional tables, and expressed as ratios. The results of this study do not show significant differences in the examined risk areas as it was expected. However, Greece presented a slightly riskier character than Hungary and Czech Republic which are still developing. This can easily be seen in the models