New product development in financial services companies: the role of the corporate centre

Doctoral thesis English OPEN
Vermaak, L.
  • Subject: HG

This thesis reports a study examining how the corporate centres of UK financial services companies involve themselves in product development in constituent businesses. Herein lies a key challenge for corporate managers - deciding on the appropriate balance between corporate nvolvement and granting autonomy to business units. Analysis of 16 businesses in large UK banks, building societies and insurers shows that in successful product development businesses the corporate centre becomes more intensely involved than in less successful businesses. In addition to providing expert product development advice, a corporate centre can provide leadership in the agreement of objectives based on a long-term vision of market opportunities. The results show that successful businesses are helped by their corporate centres to capitalize more fully on their entrepreneurial efforts. This is so particularly when businesses are allowed autonomy in performing operational tasks. Less successful product development businesses, on the other hand, are distinguished from winners by a distinctly different type of corporate involvement which at the extreme amount to unnecessary meddling in their affairs.
  • References (52)
    52 references, page 1 of 6

    2.1 THE CONCERN: CONTROL VERSUS AUTONOMY IN MANAGING FROM THE CENTRE . . . . . . . . . .

    2.2 CORPORATE INVOLVEMENT IN MANAGING CONSTITUENT BUSINESSES . . . . . . . . 2.2.1 Types Of Corporate Planning And Control Systems. . . . . . . . 2.2.2 Intensity Of Corporate Involvement . 2.2.3 Business Complexity . . . .

    2.3 PORTFOLIO LEVEL CORPORATE INVOLVEMENT .

    2.4 THE CORPORATE CONTRIBUTION . 2.4.1 Introduction . . . . . . 2.4.2 Analytical Framework: The McKinsey 7Ss . 2.4.3 Similarities Between Products and Services 2.4.4 The Corporate Contribution . . 2.4.4.1 New Product Strategy . . 2.4.4.2 New Product Shared Values 2.4.4.3 New Product Style . . 2.4.4.4 New Product Structure 2.4.4.5 New Product Skills . 2.4.4.6 New Product Staff . 2.4.4.7 New Product Systems

    2.5 THE PROPOSED RESEARCH .

    Ackroyd, S. & J.A. Hughes (1981) Data Collection In Context. London: Longman.

    Alexander, J.A. (1991) Adaptive change in corporate control practices. Academy Of Management Journal, 34,1: 162-193.

    Andrews, B. (1975) Creative Product Development: an approach to new product innovation and revitalization. London: Longman.

    Andrews, K.R. (1980) The Concept of Corporate Strategy. Homewood, Illinois: Richard D. Irwin.

    Ansari, M.A. (1990) Managing People at Work: Leadership Styles and Influence Strategies. London: Sage Publications.

  • Metrics
    No metrics available
Share - Bookmark