ABSTRACT
The previous chapter presented the case study results and provided some in-depth information concerning the organization of new service development. It was shown how three financial companies organize their product innovation processes. In Chapter 5, four problematic aspects related to product innovation were briefly described. The main goal of this chapter is to develop more generalized insights into the problem areas in the banks and insurance companies. In order to structure our analysis, we used the theoretical framework presented in Chapter 2. Hence, we make a distinction between regulatory, normative and cultural-cognitive institutional forces that affect the development of new financial services. We take into account institutional forces at the organizational (macro) and intraorganizational (micro) level. The macro data were collected at the organizational level, whereas the micro data were collected at the business unit and project level. Therefore, we will distinguish between successful and unsuccessful projects, as explained in Chapter 4, only for the intraorganizational-level forces. We will start this chapter with the organizational forces and then turn to the intraorganizational forces.
