Innovation Management in the German Savings Banks Association - Appraisal and Perspectives
Year: 2010
Type: article
Abstract: In the European public (financial) service industry the innovation management has not been systematically investigated yet, although this sector is highly important for economic growth and employment in Europe. Due to the financial crisis this industry is currently receiving additional attention by European policy makers and researchers. We studied German savings banks using a quantitative survey in order to contribute to a more systematically empirical investigation of the current status of innovation management in one of the most important service industries in Europe. The central result of our empirical study highlights that highly innovative financial service companies differ from less innovative companies in the way the top management supports the innovation development activities and how customer focuses on the companies. Based on these findings we put forward recommendations on how to investigate and plan holistic innovation management in the European financial and (public) service industry in general. We present evidence relating to the growing need for innovation management in financial institutions by the example of German savings banks. Our survey investigated the innovation activities in German savings banks for the first time. Our study is based on the question “How innovative are German savings banks and their corresponding associations?” The presented findings are based on descriptive and multivariate statistical analyses. The recommended procedures can be transferred to other public welfare companies.
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: gold
OpenAlex ID: W2282237204