1st Edition
Innovations and Institutions An Institutional Perspective on the Innovative Efforts of Banks and Insurance Companies
Using institutional theory to explain innovation and merging academic and critical analysis with practical recommendations, this book provides a full and rich account of how new products are brought to market; considering both the successes and failures in equal measure.
This book takes the meeting point of two seemingly incongruous schools of theoretical thought to enlighten the debate surrounding product innovation. In doing so it:
- illustrates how institutional forces come to shape the interest, priorities and behaviour of organizational members in the development and implementation process of incremental product innovation
- investigates the failed innovative attempts of established organizations
- demonstrates the importance of organizational and intra-organizational forces for innovative success.
The insight it offers into the organization of product innovation processes in the financial services sector and the guidelines it sets up for their improvement makes Innovation and Institutions essential reading for those working in or studying the banking, finance and insurance sector who have an interest in innovation studies.
Table of Contents
Chapter One
Introduction *
1.1 Introduction *
1.2 Managing innovation *
1.3 An institutional perspective *
1.4 Relevance of the study *
1.5 Outline of the book *
Chapter Two
Institutions and Innovations *
2.1 Introduction *
2.2 Innovation *
2.3 Defining incremental product innovation *
2.4 Organizing for sustained innovation *
2.5 Institutional theory *
2.6 Do institutions change? *
2.7 Institutional forces affecting incremental innovation *
2.7.1 Regulative forces *
2.7.2 Normative forces *
2.7.3 Cultural-cognitive forces *
Chapter Three
Intermezzo: A Service Environment *
3.1 Services *
3.2 Developing New Services: an overview of the literature *
3.3 Consequences of service features for developing new services *
Chapter Four
Methodological Considerations *
4.1 Qualitative research *
4.2 Qualitative research strategies *
4.3 The use of literature *
4.4 Data collection *
4.5 Data analysis procedures *
Chapter Five
Exploring New Service Development *
5.1 Organizing New Service Development; some basic notions *
5.1.1 Project organization *
5.1.2 The development approach *
5.1.3 Teamwork *
5.2 Results of the exploratory study *
5.2.1 Project organization *
5.2.2 Product development approach *
5.2.3 Teamwork *
5.3 Barriers for incremental product innovation *
5.4 Preliminary conclusions *
Chapter Six
Organizing New Service Development *
6.1 Introducing financial firms *
6.2 Project organization *
6.3 Integration of departments *
6.4 Conflicting interests and priorities *
6.5 Use of NPD methods and tools *
6.6 Conclusion *
Chapter Seven
An Institutional Perspective on Persistent Innovation Problems *
7.1 Organizational institutional forces *
7.2 Intraorganizational regulative forces *
7.3 Intraorganizational normative forces *
7.4 Intraorganizational cultural-cognitive forces *
Chapter Eight
Towards an institutional theory of innovation *
8.1 Introduction *
8.2 A model for innovation *
8.2.1 Institutional forces *
8.2.2 Precipitating dynamics *
8.2.3 Enabling dynamics *
8.3 Concluding remarks *
Chapter Nine
Conclusion *
9.1 Introduction *
9.2 Developing new financial services *
9.3 The impact of institutional forces *
9.4 Contributions *
9.5 Limitations and future research *
Notes *
References *
Biography
Patrick Vermeulen is Associate Professor of Organization Studies at Tilburg University in the Netherlands. Jorg Raab is Assistant Professor of Policy and Organization Studies at Tilburg University in the Netherlands.
