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Expertise and Innovation : Information Technology Strategies in the Financial Services Sector - Robin Fincham

Expertise and Innovation

Information Technology Strategies in the Financial Services Sector

Hardcover

Published: 5th January 1995
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The nature of technical expertise has become increasingly important and problematic in the post-modern era, as structured hierarchies and production methods are revised. Financial services, one of our most important economic sectors, has also been confronting very high degrees of uncertainty that reflect great institutional and market changes. In this fluid and competitive environment technological change - in particular the widening scope of information technology (IT) - has become vitally important.This study is about the strategic uses of IT in retail financial services. It is based on the Scottish part of the industry, a highly cohesive sector in its own right, but one with universal linkages to UK and global finance. A set of seven case studies forms the empirical base, while the study also focuses on key strategic projects within these case companies. The purpose is to arrive at an understanding of how firms develop a strategic approach to IT.This hinges on the management of expertise - the ability to integrate detailed technological expertise with wider organizational and marketing goals. The study examines a number of themes around this key issue: the process of formation of IT strategy, sectorial influences on the implementation of computer-based systems, and the occupational and career factors that shape IT expertise.

`This study paints a picture of an almost complete lack of dynamism within the industry, and of largely sluggish and hidebound corporate responses to the competitive environment.' Work, Employment and Society `This book is a timely contribution to our understanding of this process ... the book makes a significant contribution to our understanding of the innovation process in an industrial sector that has experienced significant structural and technical change.' Technovation `This is a solid and scholarly volume, well crafted and carefully researched ... This is a comprehensive and immensely valuable study which makes an important contribution to the debates on technological inovation ... It can be thoroughly recommended and deserves wide attention.' New Technology, Work and Employment `This book is a timely contribution to our understanding of this process ... the book makes a significant contribution to our understanding of the innovation process in an industrial sector that has experienced significant structural and technical change.' Technovation `For those who are curious and want to learn about a new multidisciplinary field of research which nowhere fits into the patterns of traditional compartmentalized disciplines, the book is highly interesting ... the book includes a helpful index, which invites the reader to work with the book and to continue to learn much from it after having read it for the first time.' Organization

List of Figuresp. x
List of Tablesp. x
Abbreviationsp. xi
Expertise And Innovationp. 1
Introductionp. 1
Strategyp. 9
Technologyp. 14
Expertisep. 19
Structure of the Bookp. 23
Context And Methods Of The Studyp. 25
Retail Financial Servicesp. 26
Sectoral Change in the 1980sp. 34
Methodologyp. 38
The Case Studiesp. 43
Introduction and Reviewp. 43
Bank of Scotland's Cabinet projectp. 47
Royal Bank of Scotland and the Royline Corporate Cash Management Systemp. 56
Clydesdale Bank and the Telebank System of Home Bankingp. 61
Mutual Life and the Customer Care Projectp. 67
Home and Auto's Management Information Systemp. 75
Premier Financial Services' Index Packagep. 80
Bank of Scotland Visa Centrep. 85
Strategyp. 95
The Negotiation Of The Sectorp. 99
Sectoral Structure and Competencesp. 100
Social Networks and Knowledge Exchangep. 104
Structural Position Of The Is Functionp. 112
Organizational Structure of Expertisep. 113
Structure of the IS Functionp. 119
Control over the IS Functionp. 123
The Managerial Claims of ISp. 127
Strategy And Innovationp. 133
Project Scopep. 133
Political Interestsp. 138
Structural Positioningp. 141
Technologyp. 149
Information Technology And Financial Servicesp. 151
Evolution of It in the Sectorp. 152
Current Trends in Technologiesp. 156
Current Trends in Applicationsp. 161
Conclusion: Applications and Implementationp. 165
Software Development Practicesp. 168
The Management of Software Expertisep. 169
The Emergence of Software Engineeringp. 170
Development Practices and the Case Materialp. 179
Conclusionp. 187
Implementation And Innovationp. 189
The Nature of Implementationp. 189
The Exploitation of Expertisep. 206
User Relations And It Integrationp. 209
The Changing Role of Usersp. 210
Integration Strategies and User Participationp. 214
Conclusionp. 225
Expertisep. 227
The Dimensions Of Expertisep. 229
Expert Knowledgep. 232
Power and Expertisep. 237
The Tradeability of Expertisep. 240
Managing Expertise in Financial Service Firmsp. 243
It Careers: Organizational And Occupational Strategiesp. 247
Introductionp. 247
MSD and the Cabinet Projectp. 252
Survey Findingsp. 258
It-Skilled Careersp. 268
The Economy Of Is Expertisep. 278
Black-boxing and the Conmmodification of Itp. 280
Collaborative Development in the Case Firmsp. 285
Provision by Markets and Hierarchiesp. 290
Conclusionsp. 297
Introductionp. 297
Strategy and the Sectoral Contextp. 300
Technology and Expertisep. 305
The Management of Expertisep. 308
Referencesp. 315
Indexp. 327
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780198289043
ISBN-10: 0198289049
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 288
Published: 5th January 1995
Country of Publication: GB
Dimensions (cm): 23.57 x 16.05  x 2.77
Weight (kg): 0.71