Managing Innovation Cases from the Services Industries (1988) / Chapter Skim
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Managing Innovation in Services
Managing Innovation in Services
Pages 1-8
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The trading day closes on an average day at the New York Stock Exchange 250 million shares changed hands. The reconciliation process documenting trades, accounting for securities documents, verifying values the exchange process has set-continues into the evening and by morning of the next day the process begins all over again.
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The chapters provide some useful examples of how successful services enterprises such as AT&T, Federal Express, Citicorp, Bell & Howell, and the New York Stock Exchange have proceeded. NEW PRODUCTS AND PROCESSES The chapter by Carl Nehls describes the development and implementation of Federal Express's COSMOS IIB system that allows tracking of packages
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From a product innovation perspective, COSMOS IIB allows Federal Express to offer customers real-time, precise information about the location of a package anytime between pick-up and delivery. As a production process innovation, electronic custodial tracking substantially increases Federal Express's ability to control and transport packages efficiently.
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Christopher Keith and Allan Grody describe the incremental process of innovation at the New York Stock Exchange spanning more than 100 years from the Morse code ticker to modern program trading. Process innovations often occurred in response to pressures for more Exchange capacity, which when achieved generally led to new "product" or services innovations, which in turn created dramatic increases in demand.
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In the case of bridges the government affects innovation primarily through its standard setting and procurement processes' Virtually all bridges are bought by governments and, as public works, these must meet strict cost, safety, and durability criteria as defined by public policy processes. Procurement practices and liability concerns have combined with outmoded standard setting practices to erode seriously providers' ability to innovate.
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The chapter concludes with an analysis of the barriers to effective implementation of information technologies in professional services firms, particularly noting how the partnership structures, which most professional services firms use, exacerbate problems in implementing technological change. The introductory chapter by James Brian Quinn summarizes some measures of the importance of technology in the services industries broadly and then focuses on the particular interactions between services and manufacturing.
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From these chapters one can conclude that successful exploitation of the new services technologies will require development of an array of new organizational forms and relationships-including new coalition modes, government-industry consortia, cross-industry competition, disintermediation possibilities and moves to transactional and functional (versus industry) regulation modes.
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economic performance through intelligent and systematic application of advanced technologies in the services industries and at the services-manufacturing interface. A companion volume to this bookTechnology in Services: Policies for Growth, Trade, and Employmentfocuses on the public policy questions that affect services industry growth and performance.
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