北大MBA原文案例库.docx

北大MBA原文案例库.docx

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北大MBA原文案例库

HowFinancialFirmsDecideonTechnology，介绍国际大银行在决定对信息技术投资时的考虑要点和他们具体的实施过程。

HowFinancialFirmsDecideonTechnology

（Abstract）

Thefinancialservicesindustryisthemajorinvestorininformationtechnology（IT）intheU.S.economy;thetypicalbankspendsasmuchas15%ofnon-interesteexpensesonIT.Apersistentfindingofresearchintotheperformanceoffinancialinstitutionsisthatperformanceandefficiencyvarywidelyacrossinstitutions.NowhereisthisvariabilitymorevisiblethanintheoutcomesoftheITinvestmentdecisionsintheseinstitutions.ThispaperpresentstheresultsofanempiricalinvestigationofITinvestmentdecisionprocessesinthebankingindustry.Thepurposeofthisinvestigationistouncoverwhat,ifanything,canbelearnedfromtheITinvestmentpracticesofbanksthatwouldhelpinunderstandingthecauseofthisvariabilityinperformancealongwithpointingtowardmanagementpracticesthatleadtobetterinvestmentdecisions.UsingPCbankingandthedevelopmentofcorporateInternetsitesasthecasestudiesforthisinvestigation,thepaperreportsondetailedfield-basedsurveysofinvestmentpracticesinseveralleadinginstitutions

HowFinancialFirmsDecideonTechnology

（PartOne）

信息技术对金融服务业的影响正在增加，不仅仅表现在银行的15%无息开支上，而且对金融服务业的运做和战略也有很强的影响。

　　一个对金融机构的长期研究表明，不同的机构的效率和表现也不同。

其决定的因素有以下一些其中的一个因素就是对投资的决定和管理。

SBS是一个失败的例子，但是成功的公司也不少。

本文注重解答以下的问题：

　　１.银行对ＩＴ投资的评估和管理过程？

　　２.在对ＩＴ的管理过程中，理论和实际操作的结合如何？

　　３.ＩＴ投资的管理和银行性能的关系如何？

1.0Introduction

　　Informationtechnology（IT）isincreasinglycriticaltotheoperationsoffinancialservicesfirms.Todaybanksspendasmuchas15%ofnon-interestexpenseoninformationtechnology.Itisestimatedthattheindustrywillspendatleast$21.1billiononITin1998,andfinancialinstitutionscollectivelyaccountforthemajorityofITinvestmentintheU.S.economy.Inadditontobeingalargecomponentofthecoststructure,informationtechnologyhasastronginfluenceonfinancialfirmsoperatonsandstrategy.Fewfinancialproductsandservicesexistthatdonotutilizecomputersatsomepointinthedeliveryprocess,andafirms'informationsystemsplacestrongconstraintsonthetypeofproductsoffered,thedegreeofcustomizationpossibleandthespeedatwhichfirmscanrespondtocompetitiveopportunitiesorthreats.

　　Apersistentfindingofresearchintotheperformanceoffinancialinstitutionsisthatperformanceandefficiencyvarieswidelyacrossinstitutions,evenaftercontrollingforfactorssuchassize（scale）,productbreadth（scope）,branchingbehaviorandorganizationalform（e.g.stockversusmutualforinsurers;banksversussaving&loans）.Giventhecentralrolethattechnologyplaysintheseinstitutions,atleastsomeofthisvariationislikelytobeduetovariationsintheuseandeffectivenessofITinvestments.WhilesomeauthorshavearguedthatthevalueofITinvestmenthasbeeninsignificant,particularlyinservices,recentempiricalworkhassuggestedthatITinvestment,onaverage,isaproductiveinvestment.Perhapsmoreimportantly,thereappearstobesubstantialvariationacrossfirms;somefirmshaveveryhighinvestmentsbutarepoorperformers,whileotheresinvestlessbutappeartobemuchmoresuccessful.BrynjolfssonandHittfoundthatasmuchashalfthereturnstoITinvestmentareduetofirmspecificfactors.

　　OnepotentiallyimportantdriverofdifferencesinITvalue,andoffirmperformancemorebroadly,islikelytobethedecisionandmanagementpeocessedforITinvestments.HorrorstoriesofbadITinvestmentdecisionsabound.Considertheexampleofthenewstrategicbankingsystem（SBS）atBancOne（AmericanBanker1997）.BancOneCorp.andElectronicDataSystemsCorp.agreedlastyeartoendtheirjointdevelopmentofthisretailbankingsystemafterspendinganestimated$175milliononit.AsstatedintheAmericanBankerarticle,SBS"wasjustsooverwhelmingandsocompletethatbythetimetheyweregettingtomarket,itwasgoingtotaketoolongtoinstallthewholething,"saidAlanRiegler,principalinErnst&Young'sfinancialservicesmanagementconsultingdivision.However,notallthestoriesarenegative.NewITsystemsareplayingavitalroleinreshapingthedeliveryoffinancialservices.Forexample,newcomputer-telephonyintegration（CTI）technologiesaretransformingcallcenteroperationsinfinancialinstitutions.Byinvestingintechnology,moreandmoreinstitutionsaremovingoperationsfromhigh-costbranchoperationstothetelephonechannel,wherethecostpertransactionisone-tenththecostofatellerinteraction.ThisITinvestmentnotonlyreducesthecostofservingexistingcustomers,butalsoextendsthereachoftheinstitutionbeyonditstraditionalgeographicboundaries.

　　Inthispaper,weutilizedetailedcasestudiesofsixretailbankstoinvestigateseveralinterrelatedquestions:

　　１.WhatprocessesdobanksutilizetoevaluateandmanageITinvestments?

　　２.HowwelldoactualpracticesalignwiththeoreticalargumentsabouthowITinvestmentsshould

　　　bemanaged?

　　３.WhatimpactdoesthatmanagementofITinvestmentshaveonperformance?

HowFinancialFirmsDecideonTechnology

（PartTwo）

Forthefirstquestion,wedevelopastructuredframeworkforcatalogingITinvestmentpracticesandthenpopulatethisframeworkusingacombinationofsurveysandsemi-structuredinterviews.WethencomparetheresultsofthisexercisewithasynthesisoftheliteratureonITdecisionmakingtounderstandinghowpracticesvaryacrossfirmsandtheextenttowhichthisisconsistentwith"bestpractices"asdescribedinpreviousliterature.Finally,wewillcomparetheseprocessestointernalandexternalperformancemetricstobetterunderstandwhichsetsofpracticesappeartobemosteffective.

　　Tomakethesecomparisonsconcrete,weexamineboththegeneraldecisionprocessaswellasthespecificprocessesusedfortworecentITinvestmentdecisions:

theadoptionofcomputer-basedhomebanking（PCbanking）,andthedevelopmentofthecorporatewebsite.Thesedecisionswerechosenbecausetheywererecentandarerelatedbutprovidesomecontrast;inparticular,PCbankingisafairlywelldefinedproductinnovation,whilethecorporatewebpresenceismoreofaninfrastructureinvestmentwhichislesswell-definedintermsofobjectivesandbusinessownership.

　　Overall,wefindthatwhilesomeaspectsofthedecisionprocessarefairlysimilaracrossinstitutionsandoftenconformto"bestpractice"asdefinedbypreviousliterature,thereareseveralareaswherethereislargevariationinpracticeamongthebanksandbetweenactualandtheoreticalbestpractice.Mostbankshaveastrongandstandardizedprojectmanagementforongoingsystemsprojects,andformalstructuresforinsuringthatline-managersandsystemspeopleareincontactattheinitiationoftechnologyprojects.Atthesametime,manybankshaverelativelyweakprocesses（bothformalandinformal）foridentifyingnewITinvestmentopportunities,allocatingresourcesacrossorganizationallines,andfundingexploratoryorinfrastructureprojectswithlongtermoruncertainpayoffs.

　　Thereminderofthispaperisorganizedasfollows.Section2describesthepreviousliteratureonperformanceoffinancialinstitutionsandtheeffectsofITonperformance.Section3describesthemethodsanddata.Section4describesthecurrentacademicthinkingonvariouscomponentsofthedecisionprocessandcomparesthattoactualpracticesatthebankswevisited.Section5describestheresultsofourin-depthstudyofPCbankingprojectsandthesummary,Section6containsasimilaranalysisfortheCorporateWebSiteanddiscussionandconclusionappearinSection7.

HowFinancialFirmsDecideonTechnology

（PartThree）

2.0　　PreviousLiterature

2.1　　PerformanceofFinancialInstitutions

　　Therehavebeenanumberofstudiesthathaveexaminedtheefficiencyofthebankingindustryandtheroleofvariousfactorssuchascorporatecontrolstructure（typeofboard,directors,insiderstockholdings,etc.）,economiesofscale（size）,economiesofscope（productbreadth）,andbranchingstrategy;seeBerger,KashyupandScalise（1995）andHarkerandZenios（forthcoming）forareviewofthebankingefficiencyliterature.Whilethereissubstantialdebateastotheroleofthesevariousfactors,thereisoneunambiguousresult:

thatmostofthe（in）efficiencyofbanksisnotexplainedbythefactorsthathavebeenconsideredinpriorwork.Forexample,BergerandMester（1997）estimatethatasmuchas65-90%ofthex-inefficiencyremainsunexplainedaftercontrollingforknowndriversofperformance.Asimilarstoryalsoappearsininsurancewhere"x-efficiency"variessubstantiallyacrossfirmswhensize,scope,productmix,distributionstrategyandotherstrategicvariablesareconsidered.Ithasbeenarguedthatonemustget"insidetheblackbox"ofthebankotconsidertheroleoforganizational,strategicandtechnologicalfactorsthatmaybemissedinstudiesthatrelyheavilyonpublicfinancialdata.

2.2　　InformationTechnologyandBusinessValue

　　EarlystudiesoftherelationshipbetweenITandproductivityorothermeasuresofperformanceweregenerallyunabletodeterminethevalueofITconclusively.Loveman（1994）andStrassmann（1990）,usingdifferentdataandanalyticalmethodsbothfoundthattheperformanceeffectsofcomputerswerenotstatisticallysignificant.Barus,KriebelandMukadopadhyay（1995）,usingthesamedataasLoveman,foundevidencethatITimprovedsomeinternalperformancemetricssuchasinventorytrunover,butcouldnottiethesebenefitstoimprovementsinbottomlineproductivity.Althoughthesestudieshadanumberofdisadvantages（smallsamples,noisydata）whichyielde