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Please use this identifier to cite or link to this item: http://bura.brunel.ac.uk/handle/2438/3764

Title: The managerial implications of real-time new product development in financial services
Authors: Naude, P
Blackman, ID
Dengler, S
Keywords: Innovation of online financial services
Development of online financial services
Online services reduce barriers to entry
Niche online financial services
Global delivery of online financial services
Growth of online financial services
Rapid development of online information systems
Managerial implications of online financial services
Non linear development of online financial services
Publication Date: 1998
Publisher: Wiley
Citation: Creativity and Innovation Management. 7(2): 54-61
Abstract: 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 An inevitable consequence on the Internet/World Wide Web (WWW or Web) is that such models are no longer applicable.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 issues that have to be tackled. The objective of this paper is to use the context of the recent launch of an innovative financial service product via the Web to explore the managerial changes that are starting to affect the banking industry.
URI: http://bura.brunel.ac.uk/handle/2438/3764
http://www3.interscience.wiley.com/journal/119131034/abstract?CRETRY=1&SRETRY=0
Appears in Collections:School of Information Systems, Computing and Mathematics Research Papers
Computer Science

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