Real-time new product development in financial services: Some managerial implications

A review of the various models of New Product Development (NPD) process shows that although different approaches have been proposed, they are in fact all variants on a linear theme: some may include feedback loops, but they all essentially advocate that certain steps precede, or are preceded by, others. An inevitable consequence on the Internet/World Wide Web (WWW or Web) is that such models are no longer applicable. Based on the lessons learned from the development of a new financial service offered via the Internet, we show how such assumptions of linearity need no longer be a constraint. In addition, innovativeness is not related to firm size. But the fact that the Web allows for the real-time development of new financial services based on on-going feedback from potential and current customers raises a new set of managerial issue that have to be tackled. The objective of this paper is to use the context of the recent launch of an innovative financial services product via the Web to explore the managerial changes that are starting to affect the banking industr

Going beyond customers - a business segmentation approach using network pictures to identify network segments

Existing approaches to segmentation, in particular business segmentation, are often conceptualized and applied in a limiting way, providing a narrow interpretation of the surrounding business network. This could be attributed to a rather myopic view of the multiple complexities and indirect links inherent in networks of business exchange relationships. The task for companies developing innovative segmentation approaches is to simultaneously enhance the company’s understanding of downstream as well as upstream preferences and resources, while going beyond immediate interaction partners to include relevant indirect business partners. The challenge is therefore not to identify attractive customer segments, but attractive network segments. As such, the managerial challenge becomes one of creating a business network segmentation from the perspective of a focal company within this network, taking a far wider interpretation of the concept of segmentation. Using the concept of network pictures, we outline the different dimensions that are important within a business network segmentation, and exemplify their use through a case study of an entrepreneurial company. Our study contributes to the literature by providing a detailed example of a practical application of abstract concepts, in this case the translation of the network picture concept into a way to apply a business network segmentation to an entrepreneurial context

Evaluation of some optimum moisture and binder conditions for coal fines briquetting

Coal mining is a thriving industry and 53% of the coal mined in South Africa is used for electricity generation. Mechanization has made coal mining more efficient, but fines generation has subsequently increased. Up to 6% of the run of mine material can report to the -200 μm fraction. Common problems associated with fines handling include dust formation, storage problems, and high moisture levels. A method to turn this material into a saleable product instead of stockpiling it can add value to a company. Briquetting is a pressure agglomeration method where loose material is compacted into a dense mass (FEECO International, 2014). The briquettes must be able to withstand rigorous handling and transport operations without disintegrating. This study aims to investigate the optimum binder and moisture conditions required to produce a mechanically strong briquette using two different binders – a PVA powder (binder A) and a starch powder (binder B). It was found that for binder A the optimum moisture level was 12% to 14%. At this moisture level the greatest compression strength gains were observed, and low amounts of fines produced in impact and abrasion tests. The minimum amount of binder added while still obtaining a strong briquette was 0.5% binder A. For binder B the optimum moisture level was also 12% and the minimum amount of Binder B to be added was found to be 1%. Briquettes that were dried outside reached their peak strength after about four days, whereas the briquettes that dried inside took about 20 days to reach their strength plateau. Hardly any degradation took place on the surface of the binder A film after exposure of 300 hours of artificial weathering. Thermogravimetric analysis confirmed that neither binder A nor binder B will add to the ash content of the coal fines, as both binders totally decompose above 530°C. Binder B yielded stronger briquettes after 15 days and also generated less fines. It is therefore superior to binder A and would be recommended for further use.Paper written on final year project work carried out in partial fulfilment of B.Eng degree in Coal Beneficiationhttp://www.saimm.co.za/journal-papersam201

Relationships and Networks as Examined in Industrial Marketing Management

The importance of the study of relationships and networks within business-to-business marketing is clear from the numerous articles written over the years that aim to give us greater insight into these two concepts. This paper reviews six of these articles. What sets these six apart from others is that they are the most highly cited articles on relationships and networks published in Industrial Marketing Management between 1995 and 2004. We examine each of these articles in terms of their scholarly impact and identify what researchers have learnt from these highly cited papers. Our conclusions show some interesting similarities that we feel has led to these articles being so highly cited. We conclude that the key to citation success is the identification of new research avenues. In addition, the chances of writing excellent papers seems to be improved when collaborating with others, rather than writing alone. By introducing new ideas these authors have not only been successful in their own work, but have given others the platforms to build on, thereby generating much more research in this area

Scale development for the inter-firm market orientation concept

Purpose: The objective of this paper is to develop and validate a scale for inter-firm market orientation (IMO) based on an original conceptualization by Elg (2008). Building on the MARKOR scale development work, the inter-firm market orientation (IMO) scale is introduced in order to better understand the market orientation efforts that occur within business relationships. Design/methodology/approach: After establishing a conceptualization of IMO, an initial list of scale items was developed by adapting the original MARKOR scale. Several phases of qualitative pre-tests were conducted with both academic experts and several manufacturer and reseller partner executives in order to assess the applicability and clarity of the instrument. Using a quantitative survey design, the survey instrument was validated with relationship partner managers in a combination of both manufacturer and reseller companies. Findings: The results of the analysis reveal that IMO is a second-order formative construct consisting of two first-order reflective constructs labelled joint intelligence cooperation and joint customer responsiveness. Practical implications: The operationalization of IMO suggests to manufacturers and their partners that the market intelligence cooperation efforts between them should be more focused on intelligence about the end-users, and less on the general market trends. Furthermore, the customer responsiveness efforts between the partners tend to be more reactive in nature, unlike the proactive stance in intra-firm market orientation. 2 Originality/value: The paper extends the notion of focal firm market orientation to IMO, which exists between partners in business relationships, and does so by developing a conceptualization and measurement items for IMO. This newly developed construct and scale can be used in future research to explore in greater depth the interplay between IMO and firm performance

Evaluating a financial service opportunity via judgemental modelling

The financial services market is currently undergoing tremendous change, due to the twin influences of developments in the field of Electronic Data Interchange (EDI) and changes in the legislation determining how banks will be allowed to operate after 1992. Describes research whose objective was to evaluate the viability of introducing a new service to handle cross-border payments, undertaken for a large multinational bank, and focused on respondents from a variety of firms within the European Community. Uses a combination of a PC-based judgemental modelling package and in-depth interviews to develop a clear understanding of the needs of both the originators′ and the vendors′ requirements. Although based on a relatively small sample, the detailed findings permit development of an effective approach to segmenting the market for the particular service

The development of trust over time in the Tunisian Automotive Sector

This paper examines how trust develops over time in business relationships between a number of Tunisian SMEs operating in the automotive sector. Trust has long been considered as a core element of relationship quality, which in turn has a moderating role in affecting the negotiation process between the actors. Our paper is based on a qualitative study of ten relationships in the Tunisian automotive industry. We take a monadic view, having interviewed local spare-parts resellers about their relationships with their wholesalers. Given the relatively simplistic structure of the automotive spare-parts industry, the mutual integration of needs between wholesalers and the resellers is relatively easily understood. The decision to undertake the research in Tunisia is twofold. On the one hand, there is a paucity of research based in the Maghreb countries, and hence a need to understand how business operates in this region. On the other hand, the Tunisian market structure is relatively simple, with most spare-parts being imported because of the low level of local production. Our results show that there is a mutual but not symmetric or balanced influence of trust on the behavior of the partners involved. The influence of the different parties is dependent on the power architecture, the history of the relationship and the network position of the actors. We find that different kinds of trust play different roles over the dynamics of the relationship. Perceived trust is more important at the emergent stage of a relationship, and experienced trust becomes more important in the established relationships. The perceive trust creates the possibility of building trust, and when mutual trust exists between the parties, it motivates them to maintain the relationship

Supportive networks among companies: Key factors of success and failure

The role of entrepreneurial networks in the development of Small and Medium-sized Enterprises (SMEs) and the associated entrepreneurial activities are a core topic in both the networks and IMP literature. However the effectiveness of these networks remains little understood. This paper investigates a specific form of formal entrepreneurial network: the supportive networks among companies. More precisely, it seeks to identify the key factors of success and failure of these networks in their actions to support small and new business development by focusing on the interactions between the three categories of actors embedded in these networks. Eleven case studies were undertaken focusing on three French supportive networks between companies. The results showed that convergent interests - altruistic as well as economic - shared both between and within companies is the overarching reason why supportive action succeeds. We also found that interactions driven by non-trading interests contribute favourably to the development of the dynamics of these networks

La dinámica de un territorio en Yucatán

El hilo conductor del proyecto en Yucatán partió de las preguntas surgidas del Programa Dinámicas Territoriales Rurales (DTR): ¿Cuáles han sido los fenómenos endógenos y exógenos que han influenciado la dinámica del territorio a estudiar en los últimos 20 años?; ¿Cuáles son los fenómenos que podrían explicar el resultado de una mejora de 1990 a 2005 en el nivel de bienestar de los hogares de cuatro municipios en el estado de Yucatán? A las estas dos preguntas hemos añadido la que sigue:¿ha cambiado el bienestar de los hogares de estos municipios en 2009? Un paso previo, necesario para llevar a cabo el estudio, fue indagar si los cuatro municipios yucatecos pueden considerarse como un territorio. Con base en los resultados obtenidos consideramos que los municipios de Cuzamá, Huhí, Acanceh y Homún forman un territorio, que denominamos CHAH a partir de la primera letra de sus nombres. Nuestra investigación se ha basado en el uso de dos metodologías: cualitativa y cuantitativa.Yucatán, México, economías rurales, Latín América, dinámicas territoriales