Chuan Shi, Rajesh Jugulum, Harold Ian Joyce, Jagmet Singh, Bob Granese, Raji Ramachandran, Donald Gray, Christopher H Heien and John R. Talburt
This paper aims to propose a funnel methodology that selects business data elements for data quality improvement practices at a financial company. Data quality is crucial in…
Abstract
Purpose
This paper aims to propose a funnel methodology that selects business data elements for data quality improvement practices at a financial company. Data quality is crucial in post-crisis recovery of the financial services industry. This allows the bank to monitor its critical data assets and improve its business operation by Six Sigma engagement that benefits from the good quality of data.
Design/methodology/approach
A funnel methodology is invented. It utilizes a rationalization matrix and statistical methods to identify critical data elements (CDEs) for data quality efforts from numerous candidates across business functions. The “Voice of the Customer” is achieved by including subject matter experts, whose knowledge and experience contribute to the entire process.
Findings
The methodology eliminates redundancy and reduces the number of data elements to be monitored, so that attention becomes focused on the right elements. In addition, the methodology ensures that the conduct of the data quality assessment is framed within a context of the functional area’s business objectives.
Originality/value
Measuring and improving data quality form a solid foundation of every Six Sigma engagement. When presented with large data elements, determining what to measure can be an arduous task. Having a proven systematic and valid process to reduce the CDE candidate pool becomes an operational necessity of paramount importance, and this justifies the value of the proposed methodology. Its implementation is described by a Basel II case study. The methodology is not restricted to financial services industry, and can be used readily in any other industry that requires data quality improvement.
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Christopher M. McDermott, Gideon D. Markman and David B. Balkin
This paper presents a theoretical framework that extends the benefits of some core elements of operations strategy to the field of entrepreneurship. We show that the field of…
Abstract
This paper presents a theoretical framework that extends the benefits of some core elements of operations strategy to the field of entrepreneurship. We show that the field of operations strategy, with its predominant focus on fit among configuration, competencies, and logistics, offers valuable insights into many strategic and tactical challenges that entrepreneurs face as they try to create business models and enter new markets or establish footholds in existing, but well‐defended markets. It is our aim to highlight the need for future endeavors linking the two fields.
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Paul James Harrison and Robin N. Shaw
The measurement of both marketing culture and behaviour provides the opportunity to gain more insight into the overall market focus of organisations. This article seeks to…
Abstract
The measurement of both marketing culture and behaviour provides the opportunity to gain more insight into the overall market focus of organisations. This article seeks to determine the market orientation and marketing culture of all staff within organisations, to ascertain to what extent other members of an organisation support or create barriers to the successful implementation of the marketing concept. This paper will provide a brief overview of the existing literature in the field of market orientation and marketing culture. After detailing the research design and methodology, a summary developed from 11 focus group sessions – consisting of all staff in one public library service in Victoria, Australia – is presented. The findings indicate that while all areas within this organisation are committed to marketing, there are various interpretations of marketing and how it should be implemented. In addition, the research finds a number of factors that could be instrumental in the successful implementation of the marketing concept in public libraries.
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Yonca Yıldırım, Mustafa Amarat and Mahmut Akbolat
This study aims to reveal the mediating role of patient satisfaction on the impact of relationship marketing on hospital loyalty.
Abstract
Purpose
This study aims to reveal the mediating role of patient satisfaction on the impact of relationship marketing on hospital loyalty.
Design/methodology/approach
The scale questionnaires used in the study was the Relationship Marketing, Hospital Loyalty and the Patient Satisfaction Scale. The population of the study is made up of the patients who received in-hospital services in private hospitals operating in Kocaeli province. The field study was conducted between August 1 and October 31, 2019. After determining the sample size, the study was conducted on 401 patients in private hospitals primarily using the purposive sampling method. Descriptive statistics, correlation analysis and statistical package for the social sciences Process Macro were used to analyze the data.
Findings
According to the findings of this study, patient satisfaction has an effect on hospital loyalty. Relationship marketing has an impact on hospital loyalty, and this effect is further enhanced by patient satisfaction. In other words, patient satisfaction has a mediating role in the impact of relationship marketing on hospital loyalty. Relationship marketing plays an important role in creating hospital loyalty and patient satisfaction. For this reason, it is recommended that health institutions adopt relationship marketing practices. Hospital loyalty and patient satisfaction will be ensured through relationship marketing. This will allow the health-care institution to continue to exist and to be more advantageous than other institutions.
Originality/value
The uniqueness of the paper lies not only in the only regression findings but also in the methodology used to capture the impact of the lagged effect of marketing relationships on hospital loyalty. Specifically, a regression model is based on both direct and indirect effects.
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This study examines the association between behavioral loyalty and satisfaction scores for banks. Past work has generally viewed the link between satisfaction and loyalty to be…
Abstract
Purpose
This study examines the association between behavioral loyalty and satisfaction scores for banks. Past work has generally viewed the link between satisfaction and loyalty to be one way – satisfaction causes or induces loyalty. This study suggests the relationship may not be just one-way, and that current loyal behavior towards banks (measured as using 1, 2 or 3 banks) may be related to satisfaction scores: the more banks used, the lower the satisfaction score.
Design/methodology/approach
The study employs large-scale survey data from the UK YouGov panel. It analyses satisfaction scores for 16 banks, from consumers who use either 1, 2 or 3 banks.
Findings
Banks receive lower satisfaction scores from their customers who use one other bank, compared to customers who do not use one other bank. Furthermore, users of two banks are less satisfied with either of them compared to users of one, and users of three banks are, on average, less satisfied with each of them compared to users of two.
Practical implications
The results will help managers and researchers better understand satisfaction scores. For example, part of the reason why a bank obtains low satisfaction scores could be that it has a large proportion of dual or multi-bank customers. Next, knowing that satisfaction scores differ according to the number of banks currently used may contribute to a more nuanced understanding of the link between satisfaction and future loyalty.
Originality/value
The study is highly original in proposing a novel hypothesis relating to bank usage and how it relates to satisfaction scores.
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The growth in literature on relationship marketing which accelerated during the 1990s continues apace in the twenty‐first century. However, as a number of authors have noted, to…
Abstract
The growth in literature on relationship marketing which accelerated during the 1990s continues apace in the twenty‐first century. However, as a number of authors have noted, to date, little empirical evidence of relationship marketing strategies has been presented. This article focuses on Romalia (a pseudonym used to protect the anonymity of the company), a large (£8 billion turnover) UK distribution service supplier. Between 1999 and 2002, Romalia implemented a key account management (KAM) strategy targeted at its top 50 UK corporate clients. A designated KAM unit was created, configured to a large extent as virtual KAM teams. This article offers empirical evidence of a large service supplier's relationship marketing strategy and the problems it encountered in its implementation. The purpose of this study will be to offer insights into Romalia's approach to B2B relationships and to locate the phenomenon in the extant literature. In particular, the literature on internal marketing and market orientation will be evaluated in the light of the evidence from this case study.
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Daniel I. Prajogo and Christopher M. McDermott
This paper aims to examine the relationship between the four cultural dimensions of the competing values framework (CVF) (group, developmental, hierarchical, and rational…
Abstract
Purpose
This paper aims to examine the relationship between the four cultural dimensions of the competing values framework (CVF) (group, developmental, hierarchical, and rational cultures) and four types of performance: product quality, process quality, product innovation, and process innovation. Theoretically, this represents the contrasts among the four quadrants of CVF in terms of their respective outcomes, with quality and innovation reflecting the contrast between control and flexibility orientations, and product and process reflecting the contrast between external and internal orientations.
Design/methodology/approach
Data were collected from 194 middle and senior managers of Australian firms who had knowledge of past and present organizational practices relating to quality and innovation‐related aspects in the organization.
Findings
Developmental culture was found to be the strongest predictor among the four cultural dimensions, as it shows relationships with three of the performance measures: product quality, product innovation, and process innovation. Rational culture shows a relationship with product quality, and along with group and hierarchical cultures, it also plays a role in predicting process quality.
Practical implications
The results provide key insights for managers to appropriately understand the fit between the culture and the strategic direction of the firm. The findings also encourage firms to appreciate the balanced view on what seems to be multiple cultural characteristics within the same organization.
Originality/value
By simultaneously examining the relationships between different cultural dimensions and different types of performance, this paper extends the previous empirical studies which linked CVF with a specific measure of performance.