New Entrants versus Incumbents in the Emerging On-Line Financial Services Complex

Manuel Hensmans, Frans Van Den Bosch and Henk Volberda

ERIM Report Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam

Abstract: The emergence of electronic commerce complexes raises important questions regarding competence building and leveraging, both for practitioners and strategy scholars. Competences of brick-and-mortar incumbents (large and mature players) are being challenged by new entrants' click-and-mortar or click-and-click business models. The implications of this challenge for the financial services industry - as for many other industries - are only starting to become clear. In this paper we contribute to these initial understandings by developing a conceptual framework that considers which strategies incumbents and new entrants might adopt to improve their competitiveness. We identify four relevant organizational types in the emerging on-line financial services complex. For each of these types we outline how ties to sponsoring organizations can be used as a buffer against environmental turbulence and as a bridge towards changing stakeholder perspectives.

Keywords: co-evolution; competence building and leveraging; e-commerce; legitimacy; on-line financial services complex (search for similar items in EconPapers)
JEL-codes: M (search for similar items in EconPapers)
Date: 2000-10-10
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Citations: View citations in EconPapers (2)

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