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There is concern that management and business research favours rigour and theory over relevance and practice. There are pressures from funding councils for researchers to show more impact. The paper shows how the bridge between the academic world and the world of practice can be served by action learning. Consideration is given to the difficulties that sustain the disconnection of business and management research before recent ideas on theories of knowledge translation are presented. Using the example of an article published for an academic journal relating to futures and foresight in organisations, the paper shows how action learning provides a vehicle to complete the process of application. Two examples of the introduction of Futures and Foresight Learning are presented, including how impact was made during the COVID-19 pandemic.

This article attempts to build a cross-reference between a Doctoral program in Business and Administration (DBA) and the concept of 'Action Learning' made known within this programme, while also highlighting the relevance for 'Action Learning' in the authors professional daily life. The experiences made during the studies, when the concept of Action Learning was first introduced and applied, are gleaned and thus compared to the professional problems encountered by consultants in the financial industry. The chances and benefits for the professional life are highlighted, and suggestions are made to enrich the student experience while attending a DBA-program.

Professional learning is a critical component of ongoing improvement and innovation and the adoption of new practices in the workplace. Professional learning is often achieved through learning embedded in everyday work tasks. However, little is known about how professionals self-regulate their learning through regular work activities. This paper explores how professionals in the finance sector (n-30) self-regulate their learning through day-to-day work. Analysis focuses on three sub-processes of self-regulated learning that have been identified as significant predictors of good self-regulated learning at work. A key characteristic of good self-regulation is viewing learning as a form of long-term, personalised self-improvement. This study provides a foundation for future policy and planning in organisations aiming to encourage self-regulated learning.

This paper contrasts the prevailing individualistic approach of financial literacy measurement and financial education with an educational framework that seeks to equip young people to play an active democratic role and to develop a broader understanding of the financial world. In particular, the framework suggests how important dimensions of financial literacy may be addressed in terms of the individual, the financial industry and government.

A group of postgraduate accounting and finance students were asked to participate in a three-phase exercise: sit an unseen past examination question; mark a fully anonymised previous student solution (exemplar); and then mark their own work. The marking process was facilitated by explaining and discussing the marking guide, assessment systems and process, and grade descriptors. Levels of marking accuracy significantly improved through the phases of the exercise, demonstrating a calibration of standards. Students' perceptions of the exercise were explored via questionnaires and focus groups. Respondents gave a strong indication that the exercise was useful and identified several learning benefits. The introduction of transparency was found to contribute towards increased stakeholder confidence in the rigour and robustness of assessment systems and processes. It also made participants less cynical about marking veracity and integrity. Another consequence of this increased transparency was that while some concerns were alleviated, others emerged. Through this exercise, students came to understand some of the difficulties assessors face when completing examination setting and marking exercises.

The main controversy as a result of the commercialisation of international education markets is that international students especially those from China are unable to perform as well as UK students in UK universities. So far, research has yet to identify the influence of placements on the academic performance of Chinese students from entry to graduation. Using four cohorts of accounting and finance students in a UK university, this present work is the first to find that Chinese students who undertake placements in the third year are seven times more likely to achieve good degrees (2.1 or 1st) than those who opt out of work placements. It is also found that Chinese students who have a high prior academic achievement and better academic results from years 1 and 2 are likely to undertake placements. Finally, the results show that the academic performance of international students is influenced by domicile.

Introduction: We describe a simple and rapid screening test for basic financial knowledge that is suitable for administration to people with mild intellectual disabilities. Method: The Coins and Costs test asks respondents to name coins, and to estimate prices of objects ranging between 1 British Pound (an ice cream) and 100K British Pounds (a small house). The test was administered, alongside a battery of neuropsychological tests, to 40 people attending day services (mean Full-Scale IQ = 59.1). Results: Total scores were normally distributed, and correlated significantly with receptive language ability and performance on memory tests, but not with IQ or executive functioning. Conclusion: The test provides a rapid (less than 5 min) screening test that has good psychometric properties and appears very suitable for assessing basic financial knowledge of people with mild intellectual disabilities.

This paper investigates the implementation and use of an internal organisational blog by several departments in the HR division in a large public sector financial organisation in the UK. This qualitative study adopts a case study approach and examines the experiences of staff using the blog to explore whether it can facilitate organisational learning. The thinking and decisions that informed the pilot study are also investigated. Initial findings indicate that implementing an internal organisational blog does not revolve around the technology itself, but the work required to inform and educate staff about the idea of using a blog for working purposes. This paper has practical implications for the practitioner community with reference to organisational management informing them of issues to consider prior to implementing new technology in team environments. The paper also examines approaches towards maintaining technology initiatives (in this case blogs) once they are up and running. The unique focus of this paper is that it explores blog use from the perspective of individuals who have never used them before as opposed to a department that is already familiar with the technology.

Purpose: The purpose of this study is to examine the under-researched subject of the role of mentoring relationships within and outside of organizational boundaries as individuals make the career transition from being a corporate employee to becoming an entrepreneur. Design/methodology/approach: Using structured interviews, the authors collected data from 24 men and women in the financial services industry in the UK about their experiences in making the transition from a corporate organization to a new venture work context. All interviews were transcribed and systematic Nvivo coding was used. Findings: Developmental relationships with structural, relational, and cognitive embeddedness were most likely to transfer from the individual's corporate workplace to their new venture. Support for both the recent literature on multiple mentors and for gender differences in the patterns of these mentoring relationships was also found. Originality/value: This is the first published study to examine whether mentor relationships from previous corporate employment transfer to the protege's new entrepreneurial venture and whether other types of relationships (e.g. coworkers, clients) are transformed into mentor-protege relationships after the career transition to entrepreneurship. It is also among the few studies to examine mentoring of entrepreneurs and gender differences in mentoring within the entrepreneurial work context. (Contains 5 tables.)

Purpose: The purpose of this paper is to explore the underlying reasons why providing process improvement training, by itself, may not be sufficient to achieve the desired outcome of improved processes; and to attempt a conceptual framework of management training for more effective improvement. Design/methodology/approach: Two similar units within the same financial service group are studied specifically through online surveys, follow up interviews and a subsequent comparative study focusing on the disparity of outcome following the same training activities. Findings: The research reveals three underlying reasons for the failure of the process improvement training: an un-sound prerequisite knowledge basis, too short a time span for the feedback dynamics to take effect, and weak cultural commitment in the management population. A training provision framework that put those factors into a structure has been developed. Practical implications: The study clarifies the relations between many factors and puts emphasis on more fundamental organisational culture change. The developed framework provides direct guidance to process design and implementation to achieve the desired results. Originality/value: The study represents the original firsthand empirical research over the last three years in a leading edge financial service organisation in the UK, which results in a novel conceptual framework that improves managerial practice. (Contains 3 tables and 5 figures.)

This paper examines the ways in which credentials from a range of education providers are used to (re)produce transnational financial elites in London's international financial district. Extant research has examined the long-standing relationship between educational background and entry into these financial labour markets. Far less attention has been paid to how the relationship between education and financial elites has changed more recently as financial labour markets have become increasingly transnational in nature and education and learning increasingly extend beyond higher education into the workplace. In response, this paper combines work on transnational elite labour markets with work from the sociology of education on the intersection between work and workplace education in order to understand the different strategies used by individuals (from both the UK and overseas) to acquire a range of credentials following their first degree in an effort to advance their careers within contemporary financial services labour markets. We argue that this research reveals the comparatively neglected trans-local qualities of workplace learning and education as individuals acquire both international and local academic credentials in what are often assumed to be global elite labour markets. The paper concludes by considering the implications of this research for work on the role of education in the (re)production of transnational elites more generally. (Contains 1 note and 1 table.)

Reporting on research into two major employers recruiting to the financial services industry, this article draws on data collected from interns, recruitment professionals and graduate employees in their first year of employment. It poses a number of strategy- and outcome-related questions in an attempt to determine whether recruitment advisers are acknowledging a new breed of undergraduate with various skills and diverse histories. The research, involving two large employers, 172 trainees and their personnel managers, set out to explore the impact of life experiences on employment opportunities in the financial services industry. The evidence reveals that despite the fact that graduates entering the labour market have changed, becoming more diverse in terms of age, gender, previous education experience, interest and ambition, employers in the industry still recruit from the elite specifically in terms of their fast track to leadership programmes, known as internships. (Contains 8 tables.)

Purpose: The purpose of this paper is to introduce a case study that identifies the practical issues and implications of employer engagement through course design, delivery and employee commitment in a higher education course delivered in the financial services sector. Design/methodology/approach: Using a case study the paper draws on the course team (employer and university) experience of a higher education course delivered at a financial services institution over a two cohort period. Student application data and student feedback are used to identify the practical issues arising from course. Findings: The paper emphasises the importance of understanding the business of the employer, bespoke delivery models and employee commitment for increasing employer participation in higher skills in the work place, particularly for employers not traditionally engaging with universities for course delivery at undergraduate level. Originality/value: The paper explores issues for employers and universities for design, delivery and sustainability of higher skills in the work place. (Contains 4 figures and 1 table.)

In the early 1980s the Conservative Administration introduced legislation to promote private personal pension plans for public sector workers. An army of commission-driven sales staff from the financial services industry sought to persuade teachers and others to abandon their inflation-proof pension schemes for those offered by private companies. It took some time before it was realised that this was a retrograde step for most employees taking this advice. Fortunately, trade unions were well represented within the public sector and they interceded on behalf of their members and exposed the fraudulent behaviour of established financial companies. The Financial Services Authority not only fined the financial services companies thousands of pounds but forced them to restore employees to the situation they would have been in if they had ignored the advice given earlier. This financial scandal took nearly 20 years to resolve satisfactorily. Teachers and other employees learned a hard lesson: most private companies put the profit motive before service to customers, they are not necessarily more efficient than the public sector and financial consultants are, in effect, sales persons whose advice is usually motivated by commission and bonus payments. Painful though the experience of many teachers had been, by the Autumn of 2008 the whole country would be shaken by the disastrous effects of a weakly regulated free market financial system. (Contains 1 table.)

Technologies of payment rather than technologies of connection are the real trigger for the expansion of electronic commerce on the Internet. This article discusses "smart cards," highlighting Mondex, the electronic purse developed in the United Kingdom. Predicts that cash will be replaced by "e-cash," which is cheaper to make, more portable, and more versatile. (PEN)

This commentary discusses the relationship between the UK Labour Party and the financial services sector in the context of an approach to economic policy and growth. It highlights the historical scepticism of the Labour Party towards financial services, rooted in ideology and practical experience alongside a recognition of the need to engage with the sector to promote economic growth and investment. The Labour Party's evolving stance towards financial services is outlined, which has oscillated between support in the 1990s and early 2000s, to a more critical view in the 2010s, with a more recent return to advocacy. The commentary draws attention to a tension in the party's encouragement of an industry that can provide economic growth at home, while at the same time being wary of developing policies designed to provide necessary growth in other areas, such as in green technologies, but that might incur the disapproval of global financial investors. Labour's dilemmas are illustrative of the contemporary problems of policy formation in a relatively small but open economy, where options to promote growth and green investment are constrained in the face of the disciplinary power of global financial capital. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to show how financial services firms determine whether customer transactions or behaviours meet the threshold for suspicious activity reporting mandated by the Terrorism Act 2000 and the Proceeds of Crime Act 2002, and how suspicious activity reporting is executed in practice. Design/methodology/approach: Semi-structured interviews have been carried out among compliance professionals in UK financial services. Findings: Two issues related to suspicious activity reporting have been identified. Firstly, a widespread misunderstanding about the tipping-off offence under s. 333 Proceeds of Crime Act 2002 has been identified, which appears to be a root cause for poor quality as well as over-reporting of suspicious activity. Secondly, issues related to the notice and moratorium periods used by the UK's National Crime Agency appear to deter reporting of suspicious activity related to live transactions. Practical implications: The paper makes suggestions for changes financial services firms and the UK's National Crime Agency can make to improve the effectiveness of suspicious activity reporting. Originality/value: The paper provides valuable insights which can be used to limit the flow of criminal funds, improve the quality of suspicious activity reporting and enhance the effectiveness of law enforcement agencies. [ABSTRACT FROM AUTHOR]

This paper examines the impact of Brexit on UK financial services policy, explaining recent reforms to the domestic financial regulatory framework and assessing the prospects for future divergence from EU rules. Deploying the lens of de-Europeanisation, we show that the failure to include financial services in the final UK-EU Trade and Cooperation Agreement necessitated major institutional changes. By contrast, there has been very limited change to date with respect to policy, while the government's ambitions for a 'Big Bang 2.0' package of regulatory reforms have been significantly scaled back. Drawing on insights from the political economy of finance, we argue that this process has been shaped by contested adaptational pressures mediated by three key variables: business unity, financial stability, and administrative capacity. The result is an emerging pattern of differentiated de-Europeanisation in financial services, ranging from intentional regulatory divergence to active alignment with EU rules. [ABSTRACT FROM AUTHOR]

The financial services sector is a major contributor to the UK economy. This article considers how collective redress and the financial sector have collided to date, by traversing the various procedural mechanisms by which collective claims can be brought in this jurisdiction, and how that relationship might be more harmonious in the future. [ABSTRACT FROM AUTHOR]

This three-part series of articles critically appraises whether our current ethical, legal and regulatory standards for Al in financial services are fit for purpose, and makes some proposals for implementation in the UK. [ABSTRACT FROM AUTHOR]

The aim of this research was to investigate the perceptions of senior compliance professionals in Irish organisations regarding potential connections between the area of diversity and compliance. The research followed a qualitative design to address the research questions and to gather and summarise the data. Semi-structured interviews were used to gather primary data from senior compliance professionals based in five organisations spanning the public sector and the financial services sector. The Central Bank of Ireland ('Central Bank') report Behaviour and Culture of the Irish Retail Banks (2018a) was reviewed alongside Irish and UK Corporate Governance Codes and Corporate Governance Reviews in the UK. The Central Bank in their reviews of retail banking following the financial crises of 2007 - 2008, have suggested that increasing diversity on boards is related to an improvement in culture and behaviours. The variables in the research are diversity in the form of gender and compliance in public sector organisations as opposed to private financial services companies. The following themes emerged from the results found. Diversity is not a topic in Compliance Programmes and companies are largely not making the link with improvements in diversity having a positive effect on compliance. However, in assessing future risks, financial services companies are aware of the changing regulatory environment and are taking account of diversity in the Compliance Programmes. Analysis of the interviews suggested that a collaborative type of leadership model is viewed as conducive to an inclusive culture where diversity can be embedded. The future focus now needs to move from not alone having diversity in the workplace but to the proactive inclusion of those diverse people in the organisation. [ABSTRACT FROM AUTHOR]

This three-part series of articles critically appraises whether our current ethical, legal and regulatory standards for Al in financial services are fit for purpose, and makes some proposals on implementing aspects of ethical decision-making in Al systems in the UK. [ABSTRACT FROM AUTHOR]

The UK Competition & Markets Authority has closely scrutinised M& A deals in the FinTech sector in recent years. This article provides an overview of the UK regulatory framework and key themes regarding the approach by regulators to FinTech M& A deals. It concludes by reflecting on the policy decisions which regulators will need to make as activity in this sector increases. [ABSTRACT FROM AUTHOR]

Though the literature on perceptions of inequality and studies of 'elites' have identified the importance of meritocratic beliefs in legitimating inequality, little is known about the role of pay setting processes in sustaining ideals of meritocracy. Drawing on 30 in-depth interviews with UK-based top income earners working mainly in finance, I analyse how top income earners perceive economic inequality. My study highlights the crucial role of performance pay for perceptions that top incomes are meritocratically deserved. Participants expressed the view that performance pay, an increasingly prevalent pay-setting practice, ensures that top incomes reflect a share of economic 'value created' for shareholders, clients or investors. Focusing on narrow, economic criteria of evaluation perceived as objective, the majority of respondents ('performance pay meritocrats') justified any income difference as deserved if it reflects economic contribution. Meanwhile, a minority of respondents ('social reflexivists') applied broader evaluative criteria including distributive justice and social contributions. [ABSTRACT FROM AUTHOR]

The article discusses three new regulations published in the United Kingdom. The Securitisation Regulations 2024 designate certain securitisation activities undertaken by firms in the UK. The Data Reporting Services Regulations 2024 replace the Data Reporting Services Regulations 2017 and set the regulatory perimeter for data reporting service providers. The Fifth Commencement Regulations under the Financial Services and Markets Act 2023 introduce reforms related to regulatory accountability, particularly for the Financial Conduct Authority and Prudential Regulation Authority. [Extracted from the article]

Successive UK governments have blamed poor rates of relative social mobility on the tendency of elite occupations to exclude according to social class. Organisational programmes implemented in response aim to identify talented young people from less privileged socio-economic backgrounds, help them identify as 'legitimate' professionals, and equip them with relevant knowledge and skills. Based on interviews with 35 participants in one programme and drawing on Foucauldian perspectives on governmentality and disciplinary power, the current study explores how these programmes may reproduce inequalities rather than challenge the status quo. It shows how a dominant discourse of merit invites participants to adopt a subject position that conforms with an idealised professional identity and how they shape their conduct in response. The core contribution is to suggest that social mobility initiatives framed by organisations as mechanisms to empower disadvantaged young people, might be read as expressions of neo-liberal governmentality, unequal power and corporate control. [ABSTRACT FROM AUTHOR]

Copyright of Max-Planck-Institut für Gesellschaftsforschung Discussion Papers is the property of Max Planck Institute for the Study of Societies and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Jurídica (0103-3506) is the property of Revista Juridica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This case study uses document and market outcomes analysis of the UK's technology-focused self-regulatory Midata and co-regulatory Open Banking programmes. It examines how effectively these voluntary and regulator-overseen industry-led actions increased competition and created better-functioning, more innovative and diverse markets for personal accounts and small business banking in the UK. It focuses on the use of two technical mechanisms to increase competition: data portability, and interoperability. These programmes went further than the EU's second Payment Services Directive, including a co-regulatory obligation for the nine largest retail and small business banks to agree a common technical interface and standards for security, user experience, and other areas identified as important to customers, overseen by a trustee appointed by the Competition & Markets Authority (CMA). We explore how these requirements evolved from an ineffective voluntary portability regime to in-depth interoperability obligations imposed by the CMA, which have enabled hundreds of firms to create a thriving UK "fintech" market of complementary financial services. [ABSTRACT FROM AUTHOR]

The 23rd June 2016 referendum on UK's prolonged participation in the European Union sowed seeds of another political turmoil and economic instability when 51.9% of the voters voted to leave the European bloc. The uncertainty surrounding the British withdrawal from EU finally ended on 31st Jan 2020, as the UK withdrew from the EU and was granted the third country status. This historic event has been dubbed as "Brexit". This paper examines the impact of Brexit on the financial sector of UK since the announcement of its possible exit from the EU. Further, the paper reviews the operation of banking and financial services in pre-Brexit era and brings out the challenges looming over the industry after the end of the transition period on 31st December, 2020. Finally, the paper explores the pros and cons of Brexit on financial entities operating in the EU and the third countries. [ABSTRACT FROM AUTHOR]

The article discusses the publication of the Fifth Commencement Regulations under the Financial Services and Markets Act 2023 in the UK. These regulations bring about major reforms in regulatory accountability, particularly for the Financial Conduct Authority and Prudential Regulation Authority. The regulations include requirements for the Payment Systems Regulator to take certain steps before taking action that may pose a risk to international trade obligations, consultations, review of general requirements, and the implementation of remaining provisions on accountability. The article provides an overview of the key changes and their effective dates. [Extracted from the article]

This paper frames trustworthiness as the key upstream construct of trust and recognises that trust operates at two levels in services relationships, with a number of key drivers that are mediated by trustworthiness. Our findings are supported by survey data from customers of UK financial services, with the data points captured over a number of years which allow for fluctuations in trust level. Empirically we find that trustworthiness impacts both the cognitive and affecting dimensions of trust, with the impact being greatest on cognitive trust. As a result of our findings it is possible for practitioner to implement policies to not only build trust but also deal with issues where there is a need to rebuild it, as in the case of our research setting. [ABSTRACT FROM PUBLISHER]

The United Kingdom's (UK) withdrawal from the European Union (EU) will reshape the geography of European finance. From January 2021, the UK will no longer be able to sell financial services cross-border into the EU's Single Market as it has done as a Member State. Through what are called passporting rights, these financial services exports from London to the EU have been central to London's competitiveness as an international financial centre and the wider importance of financial services in the UK's political economy. They have also provided a range of financial services to businesses and individuals in Europe. In this commentary, we examine the implications of Brexit for the financial services sector and for conceptual understandings of finance in economic geography and cognate social sciences. We argue that at the European scale, Brexit is giving rise to growing fragmentation of financial services to a range of European financial centres. Meanwhile, within the UK, finance is likely to become more concentrated in London as renewed processes of spatial concentration that have characterised previous economic shocks develop. Our analysis shows that that in order to understand these seemingly diverging geographies it is necessary to understand financial services as both economic and political practices. [ABSTRACT FROM AUTHOR]

Copyright of Max-Planck-Institut für Gesellschaftsforschung Discussion Papers is the property of Max Planck Institute for the Study of Societies and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: This study aims to investigate the applicability of Ritter's (2000) framework of interconnectedness in a triadic relationship between a provider, intermediaries and customers and to extend the framework by considering how the state of the relationships in a triad influences the relationship dynamic. Design/methodology/approach: A qualitative case study research method with multiple sources of evidence was adopted in this study. The case study focusses on a triadic relationship of one of the largest UK-based financial services institutions, Provider XYZ, with independent financial advisers and customers. Findings: The findings confirm that the synergy effect, lack effect, competition effect and by-pass effect exist in the triadic relationship. The findings also acknowledge that the state of the relationships in a triad, whether they are positive (+), negative (−) or neutral (0), combined with the identified interconnectedness effect determine the dynamic of the triadic relationship network. Originality/value: This paper extends the existing framework of interconnectedness by considering how the change of the relationship state changes the relationship dynamic in a triad. By evaluating both the effect of interconnectedness and the state of the relationships in a triad, managers can identify and manage possible conflicts in a triad and enhance the effectiveness of the triadic relationship. [ABSTRACT FROM AUTHOR]

Over the last decade, scandals within the UK Financial Service sector have impacted their legitimacy and raised questions whether a compliance culture exists or not. Several institutional changes at the regulatory and normative levels have targeted stakeholders' concerns regarding compliance culture and led to changes in the legitimation process. This paper attempts to address a gap in the literature by asking the following question: How is the UK financial institutions' compliance culture shaped by the institutional environment and changing legitimacy claims? Towards achieving this objective, the paper draws on the institutional theory and pays attention to the various configurations of the legitimacy notion (property vs process Suddaby et al. Acad Manag Ann 11(1):451–478; 2017). The paper utilises a longitudinal interpretive design and undertakes a qualitative content analysis of fines issued by the UK regulator and the communicated response of violating firms as well as non-sanctioned firms. Our findings indicate that there is a cyclical 'evolutionary compliance' rather than the more widely recognised state of 'compliance culture'. This culture is fuelled by interchangeable isomorphic forces where the majority of violating firms are seen to issue similar responses to the regulators sanction to maintain their reputation and legitimacy in the market. Notably, legitimacy is now defined within an interactive process between the regulator and firms rather than being static and achieved by ticking the box. [ABSTRACT FROM AUTHOR]

Research in services marketing has recognised the role of brands as aids to customers' decision making, particularly in situations where credence qualities and perceived risk may be high. In practice, there is limited empirical evidence for the role played by brands in highly intangible contexts such as financial services. This paper explores the role of the brand in relation to bank selection by small business customers in two culturally distinct countries, namely Egypt and the UK. The results indicate that there is considerable similarity in the role played by brands in both countries and suggest that greater emphasis should be placed on brands when developing marketing strategies for the small business market [ABSTRACT FROM AUTHOR]

This paper fills theoretical gaps in the scholarly discourse of organisational ambidexterity (OA) by focusing on the concepts of balanced dimension (BD) and combined dimension (CD) of OA. Through a qualitative cross‐comparative case study method it investigates BD/CD at corporate level within the dynamic and competitive UK financial services sector. The study brings greater clarity on the construct of OA and its use in real practice. It shows that forms of OA, CD and BD, are influenced by the firm's strategic choice in specific market segments. Niche players pursuing focused differentiation attain a CD, whereas large players pursuing cost leadership attain a BD of ambidexterity. Exploitation‐exploration efforts are triggered by sets of firm's contingencies that are distinctive to each dimension. Resource flexibility moderates the attainment of desirable ambidexterity's dimensions in contexts of munificent resources. At the corporate level, managers' long tenure facilitates OA. Theoretical and practical implications are offered. [ABSTRACT FROM AUTHOR]