Publicação
Can innovation be a sustainable competitive advantage for a bank?
| Resumo: | In recent years, organizations have experienced a fast digital and organizational revolution in their industries. The strategic long-term planning model is losing its applicability and organizations should continually seek new sources of competitive advantage if they want to stay "in-the-game". This case study exemplifies how innovation can be used as a sustainable competitive advantage in a bank's business model and how this can be critical to its future success by helping define corporate strategy. The case is built around BNP Paribas, a leading European bank with a global presence, in order to make it possible to have a practical application and to observe tangible results. When developing the case, a descriptive research was carried out using both primary and secondary data regarding the transformation plan that BNP Paribas Bank is promoting. As for the outcomes of the transformation plan and of the new strategy implemented, it was found that innovation is a known buzzword, but requires profound transformations throughout the organization. It is necessary to place the customer at the center of the business model, change the organization’s culture, promote new ways of working, as well as the requalification of employees and also continually seek new business opportunities, so that the bank can have a business model that persistently best adapts to market trends and changes in the business environment. The case study will contribute to the identification of key success factors of digital transformation and will seek to make the evaluation of the realization of the transformation plan, by assessing its impact in terms of obtained results. |
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| Autores principais: | Andrade, Pedro Manuel Vaz |
| Assunto: | Innovation Strategic management Organizational change Business environment Strategic analysis Banking industry Inovação Gestão estratégica Mudança organizacional Ambiente empresarial Análise estratégica Setor bancário |
| Ano: | 2019 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | ISCTE |
| Idioma: | inglês |
| Origem: | Repositório ISCTE |
| Resumo: | In recent years, organizations have experienced a fast digital and organizational revolution in their industries. The strategic long-term planning model is losing its applicability and organizations should continually seek new sources of competitive advantage if they want to stay "in-the-game". This case study exemplifies how innovation can be used as a sustainable competitive advantage in a bank's business model and how this can be critical to its future success by helping define corporate strategy. The case is built around BNP Paribas, a leading European bank with a global presence, in order to make it possible to have a practical application and to observe tangible results. When developing the case, a descriptive research was carried out using both primary and secondary data regarding the transformation plan that BNP Paribas Bank is promoting. As for the outcomes of the transformation plan and of the new strategy implemented, it was found that innovation is a known buzzword, but requires profound transformations throughout the organization. It is necessary to place the customer at the center of the business model, change the organization’s culture, promote new ways of working, as well as the requalification of employees and also continually seek new business opportunities, so that the bank can have a business model that persistently best adapts to market trends and changes in the business environment. The case study will contribute to the identification of key success factors of digital transformation and will seek to make the evaluation of the realization of the transformation plan, by assessing its impact in terms of obtained results. |
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