David R. Harness and Norman E. Marr
This paper examines product elimination in the UK's financial services sector. Specifically it considers how success is defined and measured. The literature explains that in…
Abstract
This paper examines product elimination in the UK's financial services sector. Specifically it considers how success is defined and measured. The literature explains that in financial services the ability to fully eliminate a product is difficult due to contractual and legislative barriers. This has resulted in the use of two forms of elimination – partial and full. An empirical study of retail banks, building societies and insurance organisations was undertaken. It was identified that success is defined by the specific objectives used in implementing either of these strategies. The study identified that success was measured by the extent to which product removal was achieved in line with the set objectives of elimination, and how removal resulted in performance gains for other business activities.
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David R. Harness and Norman E. Marr
As the UK’s retail financial services sector discovers the value of retaining customers it is also becoming aware that product elimination has the potential to damage existing…
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As the UK’s retail financial services sector discovers the value of retaining customers it is also becoming aware that product elimination has the potential to damage existing purchasing relationships. Unlike physical goods, where elimination is often undertaken with scant regard for the customer, in financial services the customer is central to the elimination action. The nature of the product and the existence of operational constraints have created two levels of elimination. The first, partial elimination, removes the product from some but not all customers, and requires the organisation to provide on‐going support. Full elimination occurs only when all customers cease to own the product and production is terminated. These two levels of elimination are comprised of different processes that impact on customers in different ways. The way they impact will determine whether wider organisational objectives such as customer retention as an outcome of a product elimination action can be achieved.
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David R. Harness, Norman E. Marr and Tina Goy
This paper revisits the causes of product deletion, an important if somewhat neglected part of product management theory. The causes of product deletion are important in the way…
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This paper revisits the causes of product deletion, an important if somewhat neglected part of product management theory. The causes of product deletion are important in the way they compromise a product manager’s ability to pursue the organisation’s product objectives. Without a knowledge of when or why a product may become sick, it is doubtful that proactive product management can be successfully accomplished. The documented causes of why products become terminally ill are explored to provide a conceptual background for the reported study. The findings of a qualitative study into the factors that cause product deletion in the financial services sector are presented. The key issues relating to both the financial services and the physical goods sector are analysed and discussed. The outcome of this is a realisation that the development of a universal model for the identification of why products become weak is unsafe. The results of this study suggest that there is a clear need for research that explores the relationship between the causes of product decline and the formulation of triggers of deletion.
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This paper examines product elimination in the UK's financial services industry. The literature review establishes that physical goods elimination theory has only limited…
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This paper examines product elimination in the UK's financial services industry. The literature review establishes that physical goods elimination theory has only limited application to the financial services sector. A three‐stage methodology is employed to find out how products are eliminated in retail banks, building societies and insurance organisations. A model is formulated that provides an overview of the different stages involved in eliminating a product and how each stage is brought together within a process. It is identified that each stage of elimination is influenced by the extent to which full elimination (terminating production and support liability) can be achieved. This is dependent upon the existence of external barriers – legislative controls, contractual obligations, and internal constraints created by the organisation's desire to maintain customer relationships post‐elimination. By outlining the elimination process and key influences the ability to plan product termination to achieve wider objectives, such as customer retention, should become easier.
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David R. Harness and Stephen Mackay
Discusses the options available to financial service companies to accomplish product removal or elimination. Reports the findings of a two year study into the practices and…
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Discusses the options available to financial service companies to accomplish product removal or elimination. Reports the findings of a two year study into the practices and processes of financial service sector product elimination activity. Outlines why product elimination is relevant to product management and indicates the extent to which previously reported elimination theory can embrace service sector‐specific elimination issues. Presents the withdrawal options for the financial services sector and discusses their usage. Finally, gives the implications that these strategies have for current product management theory.
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In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of…
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In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.
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This introduction unpacks the key question that informs the articles in this special issue. How does a social sphere inform regulation and, more specifically, how can the…
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This introduction unpacks the key question that informs the articles in this special issue. How does a social sphere inform regulation and, more specifically, how can the regulatory capacity of a social sphere be harnessed, as an alternative or significant complementary force to state regulation and reliance on the self-regulatory capacity of markets? This question is salient and topical also in light of the search for new regulatory strategies and perspectives in the aftermath of the 2007 financial and subsequent EU sovereign debt crises, which have led to a major realignment of economy and society in a number of countries.
This introduction argues that economic sociology is a crucial reference point for understanding more about the social practices that constitute business behavior. It enables to explore the scope and significance of often interlinked social and legal norms for regulating various transnational risks that economic activity can give rise to. The introduction therefore locates the quest for understanding more about the regulatory capacity of a social sphere in debates that draw on Karl Polanyi’s analysis of the embedding, disembedding, and re-embedding of economic activity into social norms. The introduction highlights one of the key themes developed in this special issue, the idea of society within economy which questions an assumed conceptual distinction between economy and society.
This introduction concludes by specifying how the accounts of risk regulation developed in this special issue chart a path that is different from recent explorations of the role of a social sphere in regulation, which were conducted under the banner of “the sociological citizen,” “regulatory sociability,” and “collaborative governance.”
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This chapter presents a spiritual or wisdom-based approach to development, its rationale, conceptualization, methods and examples of applications. The politics of being proposes…
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This chapter presents a spiritual or wisdom-based approach to development, its rationale, conceptualization, methods and examples of applications. The politics of being proposes that societies explicitly make the fulfillment (‘being’) of all its members – humans and non-humans – their main goal, which should guide the development and implementation of public policies. It stands in opposition to the current development paradigm focused on economic growth or ‘having’, and rooted in a set of modern western values – individualism, materialism, reductionism, anthropocentrism, etc. By nourishing our relational nature, the politics of being can address the root causes of the meta crisis the world is facing, reconciling human flourishing with sustainability and supporting the cultural evolution that is needed. It proposes a dialogue between wisdom and science, the two main areas of knowledge, to guide its design and implementation. It conceptualizes ‘being’ as the actualization of our truest ‘being’ and our highest ‘being’. This means that societies should provide the right conditions for their human members to express themselves and fulfil their healthy aspirations, as well as to develop human virtues and qualities. Wisdom traditions and spiritual teachings offer relevant insights into the nature of human fulfilment and the process of spiritual evolution that can be applied to societies. They emphasize the cultivation of spiritual values and qualities such as love, peace, happiness, life, mindfulness, mystery and the understanding of interconnectedness. In recent decades, these qualities have become areas of scientific research and been at the core of social change and development initiatives. Together they can serve as the foundations of the politics of being and allow to identify actionable public policy agendas in many sectors mainly based on existing examples.
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Tawseef Ayoub Shaikh and Rashid Ali
Tremendous measure of data lakes with the exponential mounting rate is produced by the present healthcare sector. The information from differing sources like electronic wellbeing…
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Tremendous measure of data lakes with the exponential mounting rate is produced by the present healthcare sector. The information from differing sources like electronic wellbeing record, clinical information, streaming information from sensors, biomedical image data, biomedical signal information, lab data, and so on brand it substantial as well as mind-boggling as far as changing information positions, which have stressed the abilities of prevailing regular database frameworks in terms of scalability, storage of unstructured data, concurrency, and cost. Big data solutions step in the picture by harnessing these colossal, assorted, and multipart data indexes to accomplish progressively important and learned patterns. The reconciliation of multimodal information seeking after removing the relationship among the unstructured information types is a hotly debated issue these days. Big data energizes in triumphing the bits of knowledge from these immense expanses of information. Big data is a term which is required to take care of the issues of volume, velocity, and variety generally seated in the medicinal services data. This work plans to exhibit a survey of the writing of big data arrangements in the medicinal services part, the potential changes, challenges, and accessible stages and philosophies to execute enormous information investigation in the healthcare sector. The work categories the big healthcare data (BHD) applications in five broad categories, followed by a prolific review of each sphere, and also offers some practical available real-life applications of BHD solutions.
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This paper deals with the organizing of interactive product development. Developing products in interaction between firms may provide benefits in terms of specialization…
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This paper deals with the organizing of interactive product development. Developing products in interaction between firms may provide benefits in terms of specialization, increased innovation, and possibilities to perform development activities in parallel. However, the differentiation of product development among a number of firms also implies that various dependencies need to be dealt with across firm boundaries. How dependencies may be dealt with across firms is related to how product development is organized. The purpose of the paper is to explore dependencies and how interactive product development may be organized with regard to these dependencies.
The analytical framework is based on the industrial network approach, and deals with the development of products in terms of adaptation and combination of heterogeneous resources. There are dependencies between resources, that is, they are embedded, implying that no resource can be developed in isolation. The characteristics of and dependencies related to four main categories of resources (products, production facilities, business units and business relationships) provide a basis for analyzing the organizing of interactive product development.
Three in-depth case studies are used to explore the organizing of interactive product development with regard to dependencies. The first two cases are based on the development of the electrical system and the seats for Volvo’s large car platform (P2), performed in interaction with Delphi and Lear respectively. The third case is based on the interaction between Scania and Dayco/DFC Tech for the development of various pipes and hoses for a new truck model.
The analysis is focused on what different dependencies the firms considered and dealt with, and how product development was organized with regard to these dependencies. It is concluded that there is a complex and dynamic pattern of dependencies that reaches far beyond the developed product as well as beyond individual business units. To deal with these dependencies, development may be organized in teams where several business units are represented. This enables interaction between different business units’ resource collections, which is important for resource adaptation as well as for innovation. The delimiting and relating functions of the team boundary are elaborated upon and it is argued that also teams may be regarded as actors. It is also concluded that a modular product structure may entail a modular organization with regard to the teams, though, interaction between business units and teams is needed. A strong connection between the technical structure and the organizational structure is identified and it is concluded that policies regarding the technical structure (e.g. concerning “carry-over”) cannot be separated from the management of the organizational structure (e.g. the supplier structure). The organizing of product development is in itself a complex and dynamic task that needs to be subject to interaction between business units.