Troy A. Festervand, Stephen J. Grove and R. Eric Reidenbach
In recent years the importance of market‐related information obtained by the sales force and used in marketing decision making has been recognized, but seldom studied. Where…
Abstract
In recent years the importance of market‐related information obtained by the sales force and used in marketing decision making has been recognized, but seldom studied. Where investigations have explored the sales force intelligence‐gathering function, researchers have focused on selected aspects of this activity and generally ignored the overall system in which information collection and transfer take place. This article attempts to satisfy the need for such a system by presenting a model of the sales force intelligence‐gathering function.
Christopher A. Nelson, Michael F. Walsh and Annie Peng Cui
The purpose of this paper is to identify the impact of analytical customer relationship management (CRM) on salesperson information use behavior.
Abstract
Purpose
The purpose of this paper is to identify the impact of analytical customer relationship management (CRM) on salesperson information use behavior.
Design/methodology/approach
To achieve the aim of this paper, a vignette experiment was undertaken. The data used for the final analysis included 125 professional salespeople across multiple industries.
Findings
This paper focuses on the personal use of competitive intelligence. The authors find that to maximize the effectiveness of using competitive intelligence, the salesperson must become adept at both choosing the correct pa`rtners to trust and properly valuing information. Properly valuing information can be accomplished through the use of analytical CRM.
Practical implications
The managerial implications of this paper are straightforward yet important. CRM providers have improved the tools available to salespeople (e.g., heat maps) and have partnered with other large scale providers of customer and market information (e.g., global marketing research firms) to provide a analytical tool that is user friendly to salespeople. Yet, many firms still use simplified CRM platforms, which do little more for the salesperson than offer an opportunity to document notes. Sales firms should move toward this analytical CRM system because it improves the salesperson’s ability to value information and increases the salesperson’s ability to use intelligence to link products to buyer needs.
Originality/value
This paper contributes to theory through confirming the importance of analytical CRM on salesperson’s information use behavior by using a motivation, opportunity and ability framework. Additionally, a methodological contribution was made through the development of an information value scale.
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Eric Stevens and Sergios Dimitriadis
When compared with the field of new product development, research on new services has seen fewer developments and offers less comprehensive insights. This paper tries to fill this…
Abstract
Purpose
When compared with the field of new product development, research on new services has seen fewer developments and offers less comprehensive insights. This paper tries to fill this gap by providing empirical findings from two qualitative longitudinal case studies of new service development. Knowledge on the management issues for developing new bank offerings efficiently is limited. Furthermore, recent research suggests that organisational learning can contribute greatly to the success of innovation projects. The aims of this paper are to provide a detailed description of the development process of a new financial product and to identify learning actions that may contribute to its effectiveness.
Design/methodology/approach
The paper reports findings from a qualitative, longitudinal case study of a well‐known French bank, and of a retailer. The research focuses on the description of the process, the organisational issues involved and the decision making during the development process.
Findings
The findings lead to the proposition of a model of new service development comprising a strong organisational learning component. Research and managerial implications are discussed for ways to better understand the new service development process and to enhance its effectiveness. The results reveal an informal development process consisting of a sequence of issues to solve and decisions to make. Multiple learning actions and strategies are identified that enhance the process's effectiveness and efficiency.
Research limitations/implications
Generalisation of the proposed NSD model will require further qualitative and quantitative investigations. For the qualitative part, observations of the development of standardised offers are necessary to enrich the initial framework. Furthermore, non‐standardised offers would constitute a specific research field, given the dimensions of complexity and divergence of the delivery processes. For the quantitative part, the impact of learning process on results of the development may be assessed on the basis of measurements used in similar contexts, such as the impact of learning on the success of joint ventures.
Originality/value
Findings suggest that learning during innovation should be supported for banks and retailers. Several opportunities for further research are therefore suggested.
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Denise Linda Parris, Jennifer L. Dapko, Richard Wade Arnold and Danny Arnold
The purpose of this paper is to critically review the relevant literature on transparency, provide a comprehensive definition of transparency, and present a new framework for…
Abstract
Purpose
The purpose of this paper is to critically review the relevant literature on transparency, provide a comprehensive definition of transparency, and present a new framework for facilitating the adoption of transparency as an ethical cornerstone and pragmatic strategy for organizational responsible business management.
Design/methodology/approach
A systematic literature review – a methodology adopted from medical sciences to eliminate research bias – was conducted. In doing so, the definitions, antecedents, and consequences of transparency are accessed and synthesized.
Findings
Based upon this process transparency is defined as the extent to which a stakeholder perceives an organization provides learning opportunities about itself. A conceptual framework emerged from the data. It describes when transparency is especially important, what organizations can do to be more transparent, and the potential benefits of transparency.
Practical implications
The transparency framework can be used as a guide for organizations attempting to change their behavior, image, and performance by adopting transparency as a value in their organization. In addition, the framework can be used to create and adopt a universal (i.e. industry-wide or even societal-wide) code of conduct. Furthermore, this review, definition, and framework provide a template for academics to advance transparency theory, and empirically test the construct’s application.
Originality/value
As a new research field, transparency has lacked a concise definition as well as a conceptual framework. This is the first comprehensive summary of transparency. In addition, this study contributes to the methodology of evaluating construct definitions to advance empirical research.
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Eric Stevens and Sergios Dimitriadis
Knowledge of the management issues for developing new bank offerings efficiently is limited. Furthermore, recent research suggests that organisational learning can contribute…
Abstract
Purpose
Knowledge of the management issues for developing new bank offerings efficiently is limited. Furthermore, recent research suggests that organisational learning can contribute greatly to the success of innovation projects. The aims of this paper are to provide a detailed description of the development process of a new financial product and to identify learning actions that may contribute to its effectiveness.
Design/methodology/approach
Reports findings from a qualitative, longitudinal case study of a well‐known French bank.
Findings
The results revealed an informal development process consisting of a sequence of issues to solve and decisions to make.
Research limitations/implications
Though observations fit with the theoretical model, the findings cannot be generalized due to the use of a qualitative methodology. Thus, selecting a development project that brings variance to the scope and degree of innovativeness could enrich the observed learning mechanisms. Second, as services are very heterogeneous, further research should be done on the development processes of different new services, for example standardised versus customised. Third, mechanisms of adoption or avoidance of learning procedures remain to be explored extensively. Understanding the reasons of choice and adoption of learning strategies according to the environment and nature of the project could lead to further managerial recommendations.
Practical implications
Implications for banks to encourage learning during innovation are discussed and several opportunities for further research are suggested.
Originality/value
An informal development process is revealed, consisting of a sequence of issues to solve and decisions to make. Multiple learning actions and strategies are identified that enhance process effectiveness and efficiency.
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Linda Brennan and Theresa Savage
The purpose of this paper is to propose guidelines for business enterprises engaging with indigenous communities to protect their intellectual property rights, particularly…
Abstract
Purpose
The purpose of this paper is to propose guidelines for business enterprises engaging with indigenous communities to protect their intellectual property rights, particularly indigenous art works produced for the souvenir industry.
Design/methodology/approach
Literature on indigenous art and souvenirs demonstrating exploitation of indigenous communities’ intellectual property was facilitated by a lack of knowledge of how to otherwise behave. The proposed guidelines for commercial entities wishing to engage ethically with indigenous communities draws on international exemplars.
Findings
A twelve‐point framework for ethical commerce in indigenous souvenirs between indigenous communities and businesses is proposed to ensure populations lacking economic and social power are not disenfranchised by limited experience in a market society.
Social implications
The proposed guidelines contribute to achieving reconciliation between mainstream and indigenous people in various countries throughout the world.
Originality/value
This paper assists development of guidelines enabling ethical decision‐making in the souvenir industry applying a critical approach to the principles of corporate responsibility.
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Rama K. Malladi, Theodore P. Byrne and Pallavi Malladi
We propose an alternative rationale for why some firms employ veterans, driven not solely by benevolence but also by the prospect of enhanced outcomes. Financially, hiring…
Abstract
Purpose
We propose an alternative rationale for why some firms employ veterans, driven not solely by benevolence but also by the prospect of enhanced outcomes. Financially, hiring veterans could correlate with improved stock market performance for the hiring company while aligning with corporate social responsibility (CSR) initiatives. Our study centers on the stock market performance of companies hiring veterans. It aims to underscore a lesser-known facet of the veteran employment discourse and its connection to the hiring firm's financial performance.
Design/methodology/approach
This paper evaluates the stock market performance of three VETS portfolios (made of companies that hire veterans) compared to the benchmark SPDR S&P 500 ETF. Using a modular approach, we create three VETS passive indices: VETSEW (equal-weighted index), VETSPW (price-weighted index) and VETSVW (value-weighted index). The study analyzes the annual returns, portfolio allocations, risk-adjusted performance metrics and style analysis of the portfolios from January 1, 2020, to December 31, 2022.
Findings
The findings indicate that all three VETS portfolios outperformed the benchmark, with higher ending balances and superior risk-adjusted ratios such as the Sharpe and Sortino ratios. Notably, the portfolios demonstrated resilience during challenging periods, including the COVID-19 pandemic, subsequent recovery and an inflationary period.
Research limitations/implications
Limitations include the paper's focus solely on stock returns, suggesting a need for broader financial and management ratios. Moreover, a deeper exploration into how veterans contribute during turbulent times is suggested for further investigation. Although the study touches upon the financial performance of veteran-focused companies during challenging economic times, it does not extensively delve into the specific ways in which veterans add value under such circumstances, presenting an opportunity for further exploration.
Practical implications
Firms that employ veterans amid the COVID-19 pandemic demonstrate favorable risk-adjusted returns, underscoring the potential of veterans as valuable crisis-time assets. Our research further underscores the correlation between veteran hiring and enhanced financial prowess. These insights carry significant policy implications, including CSR initiatives for hiring veterans, skill translation and training and collaboration with veteran organizations.
Social implications
The paper's findings suggest significant implications: (1) Policymakers could incentivize firms to hire veterans through tax benefits or grants, leveraging their skills for organizational resilience. (2) Collaborative efforts between policymakers and firms can promote responsible hiring, boosting a company's reputation through diversity and inclusion, positively impacting society. (3) Support for skill translation from military to civilian jobs is crucial. Programs certifying skills and tailored education aid veterans' successful transition into the workforce. (4) Collaborations between policymakers, veteran organizations and private sector entities can create networks, job placements and support systems for veterans' employment.
Originality/value
Numerous prior studies within the domain of corporate social responsibility have predominantly neglected the contributions veterans offer to businesses and the underlying reasons behind firms' decisions to employ them. Our research uniquely concentrates on the stock market performance of companies that choose to hire veterans.
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The purpose of this paper is to extend and apply the systems model of the household proposed by Dixon, his colleagues, and his students to situations in which vulnerable consumers…
Abstract
Purpose
The purpose of this paper is to extend and apply the systems model of the household proposed by Dixon, his colleagues, and his students to situations in which vulnerable consumers are not able to follow the purely rational models of economics. The case of homeless families is examined.
Design/methodology/approach
The paper presents a literature review, an introduction of Baker et al.'s concepts of consumer normalcy and consumer vulnerability, and an application of expanded model to consumer studies of homeless persons published by Ronald Hill and his colleagues.
Findings
The same household systems models might be used to unfold the complex problems that can undermine the functioning in a household, causing it to be unproductive and potentially fail. Applications of the concepts of “consumer normalcy” and “consumer vulnerability” provide a useful platform to develop public policy recommendations, the example of homeless persons will be considered as an illustration.
Research limitations/implications
The extension and application is limited in that it is applied to analyze data collected approximately 20 years ago. The research should be extended to actual homeless households in the present day, and to additional “types” of households who are likely to encounter vulnerabilities as consumers (e.g. persons with disabilities).
Practical implications
The four levels of household processes (employment, purchasing, home‐production, and consumption) provide a useful framework for examining households in which vulnerabilities occur. This approach is useful in identifying the gaps in the household processes that can slow down productivity and instead introduce confusion and demoralization, plus continue the spiral of economic deprivation.
Social implications
For over 50 years, the work of Goffman has played an important role in identifying individuals and households that did not fit societal norms, resulting in their possibly experiencing conditions of stigmatization. Examining specific household types in terms of the functionality or dysfunctionality of their use of inputs may allow researchers to recommend various types of support, training, or assistance related to the household as a system, rather than focusing on the individual without considering the household dynamics.
Originality/value
This paper takes a general systems approach in applying the concepts of consumer normalcy and consumer vulnerability, both based in behavioral theories in the social sciences, to the economic approach to the household emphasizing rational decision making and orderly production functions.