Managing Product Innovation in Financial Services Firms

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Title:	Managing Product Innovation in Financial Services Firms
Author(s):	Vermeulen, P.A.M.
Publication year:	2004
Source:	European Management Journal, vol. 22, iss. 1, (2004), pp. 43-50
Number of Pages:	8 p.
ISSN:	0263-2373
DOI:	https://doi.org/10.1016/j.emj.2003.11.012
Publication type:	Article / Letter to editor
Please use this identifier to cite or link to this item : http://hdl.handle.net/2066/157337
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Subject:	Other research Onderzoek overig
Organization:	Strategie
Journal title:	European Management Journal
Volume:	vol. 22
Issue:	iss. 1
Page start:	p. 43
Page end:	p. 50
Abstract:	Developing new products is of the highest importance for organizations. The financial sector has also recognized the increasing importance of new products. However, research on the management of innovation has mainly been conducted in manufacturing industries. Based on an empirical study in the financial services sector this paper first describes how financial companies organize their innovative processes and what barriers to innovation can be identified in banks and insurance companies. Next, the two main reasons for the persistence of these barriers are outlined. The paper ends with some conclusions.