scholarly journals An analysis of the impact of liquidity constraints on new financial product development: case of ZB bank

2017 ◽  
Vol 7 (3) ◽  
pp. 65-76
Author(s):  
Newman Wadesango ◽  
L. Nani ◽  
Charity Mhaka ◽  
Ongayi Vongayi Wadesango
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Commercial Banks ◽  
Financial Regulation ◽  
Negative Impact ◽  
Liquidity Constraints ◽  
Sampling Technique ◽  
New Product ◽  
Financial Products ◽  
The Impact

The study investigated the impact of liquidity constraints on development of new financial products in commercial banks. The descriptive research design was adopted and a case study of ZB Bank employed. A census sampling technique was adopted and questionnaires and interviews were self-administered by the researchers. Research outcomes proved that liquidity constraints are a major impediment to firm`s innovativeness. Financial project innovations are either not started, delayed or abandoned, but mostly the distribution and delivery of developed services for financial products are highly affected. The results of this study have contributed to existing literature in revealing that financial regulation tends to be another constraint for commercial banks discouraging product innovations. Rapid technological changes seem to fuel the need for new software and hardware for new product development thus necessitating the employment of a skilled workforce for new product development. Furthermore, customer demands are changing on a daily basis due to rapid changes in information technology thus making customer maintenance difficult for commercial banks. Based on the data gathered, the researchers concluded that there is a negative impact on new financial product development due to liquidity constraints. In such constrained times, we recommend that commercial banks should emphasize more the best technique suitable for successful new product development or invest their available funds in the development thereof.

ACTION AT THE FRONT END OF INNOVATION

2012 ◽  
Vol 16 (06) ◽  
pp. 1240010 ◽  
Author(s):  
FIONA SCHWEITZER ◽  
IRIS GABRIEL
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Negative Impact ◽  
New Product ◽  
Project Planning ◽  
Customer Integration ◽  
Front End ◽  
Collaboration Quality ◽  
The Impact ◽  
Early Phases

In recent years, the front end of innovation has drawn a great deal of attention as an important driver of new product development (NPD) success. In this study, we analyze the impact of knowledge gathering, project planning, interfunctional collaboration and formalization on the ability to reduce technical and market uncertainties, creativity, and the efficiency of the early stages. 352 Austrian B2B-companies from technology-intensive sectors participated in the study. The results indicate that collaboration quality, formalization of the different phases of the front end and identification of customer-needs are fundamental for front-end performance, while collaboration quantity is less important. Moreover, planning was found to be central for efficiency and did not have a negative impact on creativity. Managerial recommendations from the study include scrutinizing the way in which interfunctional collaboration takes place, increasing customer integration and formalizing the early phases.

Cultivating product innovation performance through creativity: the impact of organizational agility and flexibility under technological turbulence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wilert Puriwat ◽  
Danupol Hoonsopon
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Product Innovation ◽  
New Product ◽  
Innovation Performance ◽  
Incremental Innovation ◽  
Organizational Agility ◽  
Content Type ◽  
Technological Turbulence ◽  
The Impact

PurposeThis study is to compare the impact of organizational agility and flexibility on performance of each type of product innovation (radical vs incremental innovation). Additionally, the moderating effect of technological turbulence on the relationship between the two types of organization is examined.Design/methodology/approachBased on gaps in the existing literature, the survey data are collected from managers who are in charge of developing new products in three industries: food and beverage, chemical and machinery (N = 431). Confirmatory factory analysis is used to verify measurement items and regression analysis is used to test hypotheses.FindingsThe results show that organizational agility increases performance in radical innovation both in a certain situation and an environment with technological turbulence. In contrast, the impact of organizational flexibility is limited to increasing performance in both radical and incremental innovation performance in a certain situation.Originality/valueOur study extends the knowledge of organizational agility and flexibility in the domain of product innovation. Adaptation of organization to respond the technological turbulence will stimulate creativity of new product development teams to produce new useful ideas and transform these ideas to product innovation. The different types of organizing a new product development team to handle technological turbulence will provide different results in product innovation performance. In addition, the findings provide a recommendation on how the organization of a new product development team can improve performance in each type of product innovation under technological turbulence.

scholarly journals A multi-dimensional approach for managing open innovation in NPD

2017 ◽  
Vol 37 (10) ◽  
pp. 1366-1385 ◽  
Author(s):  
Hanna Bahemia ◽  
Brian Squire ◽  
Paul Cousins
Keyword(s):  
Product Development ◽  
Competitive Advantage ◽  
New Product Development ◽  
New Product ◽  
Three Dimensions ◽  
Longitudinal Impact ◽  
Product Innovativeness ◽  
Content Type ◽  
The Impact ◽  
Positive Effect

Purpose This paper explores openness within new product development (NPD) projects. The purpose of this paper is to examine the impact of breadth, depth and partner newness on product innovativeness and product competitive advantage. The authors also seek to examine the contingent effects of the appropriability regime. The authors make suggestions to academics and practitioners based on the findings. Design/methodology/approach The authors use a structured survey instrument producing an empirical analysis of 205 NPD projects in the manufacturing sector in the UK. The authors use an ordinary least squares regression model to test hypothesised relationships between openness (breadth, depth and partner newness), product innovativeness, product competitive advantage and the appropriability regime. Findings The authors find that each of the three dimensions of openness, depth, breadth and partner newness, have a significant but differing impact on product innovativeness. Specifically, the study indicates that breadth has a positive effect but only in the presence of a strong appropriability regime, partner newness has a direct positive effect, and depth a direct negative effect. The authors also find that product innovativeness has a positive impact on product competitive advantage. Research limitations/implications Further research should focus on replicating the findings in other countries, search for further moderating factors, such as the stage of the NPD process, and analyse the longitudinal impact of openness within NPD projects. Practical implications Organisations are encouraging managers to be more open in their approach to NPD. The authors’ findings suggest that managers need to think about the three dimensions of openness, breadth, depth and partner newness. Their engagement with each of these dimensions depends on the desired outcomes of the innovation project and the strength of patents. Originality/value The research extends the extant supplier involvement in new product development literature to examine the effect of up to 11 types of external actor in NPD projects. The authors test a new multi-dimensional measurement scale for the openness construct. The authors show that each dimension has a different relationship with product innovativeness.

scholarly journals The impact of information management in developing new products in bank – an empirical analysis

2021 ◽  
Vol 54 (3-4) ◽  
pp. 197-206
Author(s):  
Zoran Najdanović ◽  
Natalia Tutek
Keyword(s):  
Product Development ◽  
Information Management ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Business Decisions ◽  
Customer Preferences ◽  
The Right ◽  
The Impact

Successful information management is big challenge for any organization. In this paper the emphasis is on information management in new product development in bank. Under strong pressure from competition and new technological changes, as well as the turbulent changes in the environment, financial institutions must continuously develop new products and services. In order to make the services more interesting to the users, it is necessary to collect data about the users, their wishes and preferences. The data should then be converted into useful information that will result with developing the right product or service that users will recognize as necessary. Products become personalized, user-friendly, and the emphasis is on the importance of long-term company relationships with customers. Only with well-organized information, managers can make the right business decisions and companies can react in time to market changes. When creating their strategy, successful companies analyze and identify elements that significantly contribute to creating a competitive advantage and ensuring long-term growth and development. The paper presents an empirical research of customer preferences which lead to new product development in bank.

To tell or not to tell? The impact of communicating consumer participation in new product development

2018 ◽  
Vol 27 (2) ◽  
pp. 158-171 ◽  
Author(s):  
Claudia Costa ◽  
Rita Coelho do Vale
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Critical Role ◽  
New Product ◽  
Consumer Involvement ◽  
Consumer Participation ◽  
Product Complexity ◽  
Content Type ◽  
Innovation Ability ◽  
The Impact

Purpose This paper aims to analyze the implications of communicating customer involvement in the ideation and concept stage of new product development (NPD). This paper assesses the extent to which the awareness that a product was co-created jointly by company professional designers and consumers affects observer consumers’ attitudes toward the product and the company. While earlier research has mainly emphasized the positive and desirable consequences of consumer participation in NPD, the present set of studies shows that labeling products as having been co-created is not always valuable; rather, it is dependent on the level of perceived complexity of the products. Design/methodology/approach The hypotheses are tested in four experimental studies using several categories of product complexity (low, medium and high). The data have been collected on young adult samples, measuring the participants’ perceptions of a firm’s innovation ability and product purchase intentions. Findings The results suggest that there are benefits at the corporate level (higher perceptions of innovation ability) to inform the market about consumer involvement, particularly when consumers and company professionals work together. The findings also indicate that product complexity plays a critical role in translating the perceptions of greater corporate abilities (innovation) in purchase intention, and it is particularly beneficial for low-complexity products. Originality/value The previous research has mainly focused on the impact of involving consumers in firms and participating consumers; however, it has neglected the role of observer consumers. This study adds to the innovation literature by showing that the value of learning about other consumers’ involvement in firm NPD is not universally beneficial and that product complexity is a critical boundary condition.

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