Pre-Empting Implementation Barriers: Foundations,Processes and Actions - The Need for Internal Relationships

For close to two decades the leading exponents of marketing planning have warned of the cultural, operational, managerial and communications hurdles which so frequently impede the effective implementation of marketing planning programmes. Similar forces have been shown to impede the progress of market segmentation initiatives. Relationship marketing, through its examination of internal relationships, considers many of the barriers cited in the popular marketing planning and segmentation processes. However, recent research indicates that in spite of the extensive current coverage and growing body of marketing literature highlighting internal and organisational issues, the principal forces impeding implementation of marketing plans and segmentation schemes remain those central to the rationale of relationship marketing. Along with other foundations and process requisites, building effective internal relationships is a fundamental part of facilitating the implementation of marketing recommendations. Insufficient guidance is offered to practitioners regarding the impediments to implementation likely to be encountered and how best to pre-empt these barriers. This paper first reviews the core impediments to implementation, offering a summary of these issues, before suggesting various measures for overcoming these difficulties.     

Mature Consumers in the Financial Services Marketplace - Potential Market Segments

Mature consumers are becoming the object of increasing interest and importance to both researchers and professionals in the financial services industry. This paper, using a segmentation approach, seeks to understand these consumers with regard to the decision processes underlying their choice of financial services and financial service institutions. The findings suggest that mature consumers are not homogeneous with respect to the types of services they consider important and their choice criteria. The segmental approach provides unique opportunities for designing differentiated appeals and in obtaining a profitable market position.     

Industry drivers of global strategy and organization

This article reports on a research study of how 18 worldwide businesses belonging to some of the largest American multinational companies responded in their strategies to industry globalization forces. The findings reveal some effective approaches, but at the same time show that most of these businesses lagged in their response. In particular, organizational, managerial and cultural barriers to implementation hampered efforts to change. This article develops a series of lessons on how multinational companies can improve their formulation and implementation of global strategy. © 1995 John Wiley & Sons, Inc.     

全能银行范围经济的实证分析

从实证角度分析全能银行范围经济的存在。通过收入增长模型实证并回归检验了全能银行的范围经济特性,并计量出其范围经济系数,得到全能银行存在范围经济的有力证据。实践中对全球著名五家全能银行进行回归分析,并拟合中国自己的全能银行进行回归验证,得到拟合程度非常高的回归检验结果。由此得出结论:中国是可以发展自己的全能银行的,不仅具有现实基础且可产生显著的范围经济。     

Marketing of Financial Servies to the Elderly in the Retail Banking Industry

Dramatic changes in the financial services industry have accelerated the search for feasible and profitable market seg- ments. Increased corporate attention is being focused on the finan- cial needs of the elderly market. This article examines the viability of the elderly market using the criteria for effective segmentation and focuses on actions retail bankers can take in the component ar- eas of the retail marketing mix-product, price, place, and promo- tion-to meet the financial needs of the elderly.     

Self-employment entry across industry groups

Highly educated individuals possessing a net worth exceeding $100,000 are the most likely to enter self-employment. Recent studies have linked personal wealth holdings positively to self-employment entry, but educational attainment has been a weak and erratic determinant of self-employment status. Although barriers such as financial capital constraints clearly shape self-employment entry decisions, the nature of these barriers varies substantially across small business industry groups. The strong role often played by education and work experience in identifying self-employment entrants is often obscured by inappropriate aggregation across industries.Entry barriers shape not only the decision to enter self-employment but also the types of industries that potential business owners are likely to enter. The likelihood of self-employment in skilled services increases greatly as level of education rises, whereas the opposite situation prevails in construction. The major barriers to self-employment entry in manufacturing and wholesaling are clearly financial in nature. In contrast, the primary route to self-employment in the growing skilled services industries is the attainment of advanced educational credentials; personal wealth holdings are secondary.Several factors perform consistently in identifying self-employment entry across industries. The likelihood of entry increases with age, peaking as people approach age 40 and then leveling out. African-Americans are less likely to pursue self-employment than nonminorities.Factors associated with self-employment entry among women are quite different than those that predict male entry, but this partially reflects the differing industry concentrations among men and women. Women are more likely to enter self-employment in skilled services fields. Thus, advanced education and work experience—the human capital variables—are the strongest predictors of female entrants.Barriers to self-employment are most binding to those who possess neither the human capital nor the financial capital traits associated with entry. For others, barriers need not deny access to self-employment—rather, they may simply shape the industry choice. This study is based upon the 1984 Survey of Income and Program Participation (SIPP), a longitudinal survey of households carried out by the U.S. Bureau of the Census. Entry into self-employment was observed over a 32-month period for a sample of 24,428 adults.     

生产性服务业集聚对绿色全要素生产率的影响——基于不同集聚视角下面板门槛模型的实证分析

基于产业集聚的理论研究和绿色发展的环境诉求,本文以2004-2016年中国30个省(市)的绿色全要素生产率为研究样本,运用面板门槛模型探讨供给侧视角下生产性服务业集聚对绿色全要素生产率的影响,从专业化集聚和多样化集聚角度证实了生产性服务业集聚对绿色全要素生产率存在结构突变效应,并鉴于内部细分行业集聚特征展开进一步探讨。结果表明:在不同集聚视角下,能源强度、经济发展水平对绿色全要素生产率存在不同程度的门槛效应;就全国层面,专业化集聚对绿色全要素生产率具有一定程度上的抑制作用,多样化集聚表现出较明显的促进作用;就行业层面,细分行业专业化集聚存在明显的行业异质性特征,金融业是提升绿色全要素生产率的重点行业。     

运输服务贸易比较优势的构成及变迁——基于美中两国1992-2008年贸易数据的比较

作为服务贸易一个具体的产业部门,运输服务产业比较优势的测度一般基于国际收支统计数据。本文基于1992-2008年的贸易数据,对美中两国运输服务贸易产业竞争力的指标做了比较分析;并通过美中双边运输服务贸易分项数据,对美中两国在客运服务、货运服务和港口服务三个分部门的比较优势做了深入论述,认为美中两国在运输服务产业内部各具优势、各有分工;对服务贸易产业国际竞争力的测度不能仅仅依靠BOP数据,更应该结合经济发展水平、产业化程度、贸易的自由化进程和要素资源禀赋等综合考虑。     

财务管理创新的一般路径探索

企业管理创新有可遵循的规律,其中一个很重要的线索就是管理科学进步的一般规律。归纳财务管理进步的一般规律,包括:财务管理的对象从单一要素到多要素的综合、从企业内部到企业外部;管理的方法从定性到定量再到定性与定量相结合、从注重物到注重人;管理的手段从手工到应用各种工具,等等。由此可开拓出企业财务管理创新的一般路径。     

探索中国式小微金融发展之路的尝试——关于温州金改中小微金融实践的调查

温州金融综合改革是全国首个国家级区域金融改革试点,经过五年多实践,最初预定的改革任务基本完成。该项改革可以总结的经验有很多,经过实地调研,文章从小微金融角度对温州金改进行了总结。调查发现,温州金改在解决“两多两难”、构建地方金融“四大体系”、规范民间金融、创新对小微企业的金融服务、构建小微金融背景下的信用环境、形成反映民间（小微）金融综合利率水平的“温州指数”等方面做出了许多创新探索,一些做法已经在浙江省乃至全国进行了推广。文章认为,温州金融改革为探索小微金融的中国方案提供了一个样本。     

Aggressive and Prudential Marketing Strategy for Financial Services

In the light of poor performance, there is debate about the benefits marketing has brought to the UK financial services industry. This argument is assessed in the light of marketing concepts and the findings of a study investigation the focus of marketing strategy in successful financial service companies. Based on qualitative data from rigorously identified companies, the article finds that the balancing of aggression and prudence in strategy, which is emphasised in marketing theory, is one of the factors which sets apart successful financial service companies. The findings suggest that the successful companies are those focusing on strategies embracing the key marketing concepts of selectivity and profit orientation.     

Business Incubators in China: A Financial Services Perspective

The business incubation industry in China has been booming since the mid-1990s. However, the lack of a well-developed financial services sector has become a major bottleneck to the growth of the industry. Based on our visits to 12 Chinese business incubators around the country and interviews with their executives, we present our perspective on the state of the incubator industry in China with special emphasis on incubators' financial services for their incubatees.     

New business entrepreneurship in the Japanese economy

This article presents the results of a study focused on the role of new business entrepreneurship in the Japanese economy. Particular attention is paid to the activities of various government agencies in relation to new business entrepreneurship and to the barriers to this activity in Japan. New business entrepreneurship was defined as the formation and rapid growth of a business enterprise through unique approaches to the firm's activities.In contrast to the American stereotype of Japan as an economy of a few large, interconnected firms, it is, in fact, characterized by small- and medium-sized enterprises. Over 99% of all Japanese enterprises are categorized as small or medium and over 80% of all employed Japanese are employed by such firms. However, very few of these firms are entrepreneurial in nature. The vast majority are small firms that are either subcontractors to a single larger firm or small retail, wholesale, or restaurant establishments.The start-up rate for all types of businesses in Japan has been declining for the past 10 to 15 years. More importantly, the rate of start-up s for independent firms, as opposed to firms started by a larger firm to serve primarily as a subcontractor, declined even more sharply. This indicates a significant weakness in Japan's otherwise strong economy.The low and declining rate of new business entrepreneurship in Japan is a function of structural, governmental, and cultural barriers. Structural barriers include an acute, long-term labor shortage, high financial start-up costs due in large part to high land prices, and a shortage of venture capital funding. Government barriers include “red tape,” financial and other support for small firms that is withdrawn as they enter rapid growth, and the persistent protection of inefficient industry structures. Cultural barriers involve Japan's strong group/collective orientation, the traditional career path in Japan, bounds on creativity, and the fact that entrepreneurship is not assigned a high social value.While the government provides an extensive, well-developed network of services for small- and medium-sized firms, these programs are not designed to facilitate rapid growth into the large firm phase. The Japanese experiences and programs offer useful insights for policy and tactics by other governments.     

SFDI与中国服务业增长关系的实证分析

本文借助于计量经济模型,采用1994-2003年的相关统计数据,对服务业利用外国直接投资(SFDI)与我国服务业增长的关系进行了实证分析。首先利用普通最小二乘法对模型进行回归分析,发现R2值较高,而DW值却很低,说明模型可能存在伪回归。因此,采用广义差分法对模型进行修正,得到了较好的拟合结果。结果表明:服务业利用外国直接投资与我国服务业增长之间存在显著的正相关关系。但是由于我国的服务业基础比较差,在引进外国直接投资的过程中,应该采取谨慎开放的政策,有限制、有引进地逐步放宽服务业领域。     

Retaining customers in traditional retail financial services: interviewing 'les responsables'

This paper explores organizational concerns with retaining customers in traditional retailing of financial services. Managers, charged with retaining customers ('les responsables') in banks and building societies, are interviewed seeking their views on how their organizations retain customers. The study finds that there are a number of shared themes in the sample of informants, which are evolution/flux, customer information systems, a product/sales orientation, delivering financial services, staff and relationships with customers. Underlying these themes, however, appears some equivocation as these organizations try to retain customers when customer acquisition seems to be the thrust of their marketing.     

Strategic and Marketing Implications of Consumer Behaviour in Financial Services

As competitive liberalisation and the application of technology in the creation and distribution of financial services have increased consumer choice in the UK personal financial service industry, so consumer choice in the UK personal financial services industry, so consumer behaviour has assumed a greater role in determining the strategic environment in which financial service providers operate. This paper explores the reltionship between consumer behaviour and the strategic choices facing financial consumer behaviour and the strategic choices facing financial service firms by developing a framework of consumer behaviour and linking the forms of behaviour and type of financial service instrument that determines the strategic environment within which financial service providers operate. Based on that interaction the paper develops a contingency view of financial services strategy and argues that to be successful, financial service providers will need to move away from broad service provision and adopt more focused strategies that reflect far more closely the strategic environment in which they operate.     

Applying latent trait analysis in the evaluation of prospects for cross-selling of financial services

Identification of the order in which households acquire financial services has important implications for market segmentation and cross-selling strategies. This study illustrates a procedure by which financial institutions, based on internal records, can estimate the likelihood that a customer will purchase/use additional services. The methodology discussed in this study positions financial services and investors along the same continuum according to the particular ownership pattern. The location of an investor indicates his financial expertise and resources, while the location of a financial service measures the level of expertise/resources needed for ownership of that service.A key feature of the methodology is its ability to predict the probability of ownership of some financial services given information on (non-)ownership of other services. This study concludes with an illustration applying the methodology for targeting customers for cross-selling efforts.     

对外直接投资与美国服务贸易的发展

一般认为,对外直接投资活动(FDI)对贸易的持续增长将起到十分重要的支撑和推动作用。本文选用了美国1970年至2003年的相关数据,通过建立自回归模型,拟合后发现这个结论在美国的服务业领域也成立。进一步运用Granger因果检验方法,发现两者之间还存在着互为因果的关系。然而,通过对统计数据的分析,同时也直观地发现,在美国服务业内的对外直接投资与对外贸易在进出口上的同向相关性并不明显。其原因可能是各国对服务业的限制措施所造成的扭曲和直接投资的贸易替代效应所致。     

我国房地产宏观金融风险研究

本文通过对房地产业中资金循环的三个环节以及影响房地产金融风险的宏观经济因素和制度因素的分析,研究了存在于我国房地产业中的宏观金融风险.通过与国际经验的比较,发现存在于我国房地产业中的宏观金融风险主要集中在开发企业环节,但是仍处于比较合理的范围内;宏观经济的繁荣带动了房地产业的本轮上升;制度因素对房地产宏观金融风险影响较大.从供给和需求两个层面的分析发现,存在着对房地产业金融风险的误读,对此需要进行客观评价.最后提出了从制度建设方面防范房地产宏观金融风险的建议.