Tetiana Goncharenko, ORCID: https://orcid.org/0000-0001-6298-4517
PhD, Associate Professor, Sumy College of Economics and Trade, Sumy, Ukraine
The analysis of approaches to defining the banking business model showed that digital financial technologies, e-commerce, information management are important factors that form the model of leadership and innovation in business. The development of risk management, risk assessment, profitability-risk-stability triangle balancing, which create relevant trends in the formation of business leadership models, has increasing importance for managers, clients and shareholders. The article identifies the dominant tendencies in the development of scientific thought (based on 6377 articles from 1991-2019 in journals indexed by Scopus and Web of Science) regarding the transformation of business models in banks and the future research directions with the help of bibliometric analysis (VOSviewer). The conducted analysis showed that in 2012-2017 the number of scientific articles about the transformation of banks’ business models began to increase. It proves the relevance of business modelling for leadership and innovation in business. At the same time, the focus of research has shifted from general strategic management issues to risk management issues. In 2017, the number of articles studying the banking business model increased by 148% compared to 2012. Therefore, these articles in the subject area observe such areas as business, management, economics, econometrics, finance, social and computer sciences. Among the scientists who studied the banks’ business models, most are scientists from the US, UK and India. In 2018, there was a significant increase in the number of articles on banking strategic management published in high impact journals, such as the Journal of Banking and Finance, the International Journal of Bank Marketing and Economic Modeling. The use of the VOSviewer has identified 8 research clusters exploring the issue from different perspectives. The first (largest) cluster consists of studies that examine banks’ business models through decision-making and information management technologies, risk assessment and minimization mechanisms, the relationship between banking sales dynamics and the information databases etc. The second-largest cluster brought together researchers examining banks’ business models in terms of the financial crisis effects, regulatory changes, business efficiency and stability (z-score), etc. The third-largest cluster is the study of business models through the dynamics of transformations in the financial market, in lending behaviour and business cycles. These three largest clusters confirm that the key to leadership and innovation in banking is the balance between the profitability-risk-stability triangle and information technology.
Keywords: Bank, Banking, Business Model, Leadership and Innovations in Business.
JEL Classification: E5, M2, O3.
Cite as: Goncharenko, T. (2020). From Business Modelling to the Leadership and Innovation in Business: Bibliometric Analysis (Banking as a Case). Business Ethics and Leadership, 4(1), 113-125. http://doi.org/10.21272/bel.4(1).113-125.2020.
- Accenture (2015). Banking Customer 2020. Rising Expectations Point to the Everyday Bank. [Online] Available at: https://www.accenture.com/t20150710T130243__w__/us-en/_acnmedia/Accenture/Conversion-Assets/DotCom/Documents/Global/PDF/Dualpub_17/Accenture-Banking-Consumer-Pulse.pdf.
- Alani, E., Kamarudin, S., Alrubaiee, L. & Tavakoli, R. (2019). A model of the relationship between strategic orientation and product innovation under the mediating effect of customer knowledge management. Journal of International Studies, 12(3), 232-242. doi:10.14254/2071-8330.2019/12-3/19.
- Agarwal, Sumit, John C. Driscoll, Xavier Gabaix and David Laibson (2009). The age of reason: financial decisions over the life-cycle with implications for regulation. Brookings Papers on Economic Activity, 2, 51-117. Available at: https://www.brookings.edu/wp-content/uploads/2016/07/2009b_bpea_agarwal.pdf.
- Ayadi, R., Arbak, E., and de Groen, W.P. (2011). Business Models in European Banking: A pre and post-crisis screening, Centre for European Policy Studies (CEPS), Brussels. Available at: https://www.ceps.eu/ceps-publications/business-models-european-banking-pre-and-post-crisis-screening/.
- Ayadi, R., Arbak, E., and de Groen, W.P. (2012). Regulation of European Banks and Business Models: Towards a new paradigm? Centre for European Policy Studies (CEPS), Brussels. Available at: https://www.ceps.eu/ceps-publications/regulation-european-banks-and-business-models-towards-new-paradigm/.
- Ayadi, R. and de Groen, W.P. (2014). Banking Business Models Monitor 2014: Europe, Montreal, Joint Centre for European Policy Studies (CEPS) and International Observatory on Financial Service Cooperatives (IOFSC) publication. Available at: https://www.ceps.eu/ceps-publications/banking-business-models-monitor-2014-europe/.
- Ayadi, R. and de Groen, W.P. (2016). Banking Business Models Monitor 2015: Europe, Montreal, IRCCF. Available at: https://www.ceps.eu/ceps-publications/banking-business-models-monitor-2015-europe/.
- Ayadi, R. (2019). Banking Business Models: Definition, Analytical Framework and Financial Stability Assessment. Springer. Available at: https://rymayadi.com/banking-business-models-definition-analytical-framework-and-financial-stability-assessment/.
- Ayadi, R., Cucinelli, D., de Groen, W.P. (2019). Banking business models monitor 2019: EuropePerformance, Risk, Response to Regulation and Resolution: 2005-2017. Centre for European Policy Studies (CEPS), Brussels. Available at: https://www.ceps.eu/ceps-publications/banking-business-models-monitor-2019-europe/.
- Bain & Company (2015). Customer Behaviour, Experience and Loyalty in Retail Banking. [Online] Available at: http://www.bain.com/publications/articles/customer-loyalty-in-retail-banking-2015-global.aspx.
- Beltratti, Andrea and Stulz, Rene M. (2009). Why Did Some Banks Perform Better during the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation (July 13, 2009). Fisher College of Business Working Paper, No. 2009-03-012. Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1433502.
- Björk, S. (2015). Corporate customer loyalty within the banking Sector: The case of SEB. [Online] Available at: http://www.diva-portal.org/smash/get/diva2:886167/FULLTEXT01.pdf.
- DaSilva, C.M. and Trkman, P. (2014). Business Model: What It Is and What It Is Not. Long Range Planning, 47(6), 379-389. Available at: https://mycourses.aalto.fi/pluginfile.php/415539/mod_folder/content/0/DaSilva_Trkman_2013.pdf?forcedownload=1.
- Demirgüç-Kunt, A., Huizinga, H. (2010). Bank activity and funding strategies: the impact on risk and returns. Journal of Financial Economics 98, 626-650. Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1350235.
- Hryckiewicz, A., Kozlowski, L. (2015). Banking business models and the nature of financial crises. MPRA Paper 64072, University Library of Munich, Germany (2015). https://ideas.repec.org/p/pra/mprapa/64072.html, revised 09 Mar 2015.
- Financial services (2015). The fintech revolution. A wave of startups is changing finance- for the better. [Online] Available at: http://www.economist.com/news/leaders/21650546-wave-startups-changing-financefor-better-fintech-revolution.
- Lautenschläger, S. (2017). Digital native? Fintechs and the future of banking. [Online] Available at: https://www.bankingsupervision.europa.eu/press/speeches/date/2017/ html/se170327_1.en.html.
- Magretta, J. (2002). Why Business Models Matter. Harvard Business Review, 8. Available at: https://hbr.org/2002/05/why-business-models-matter.
- Ogden, J. (2017). The Biggest Challenge Facing Banks in 2017 and a Checklist to Overcome It. [Online] Available at: https://www.mx.com/moneysummit/the-top-5-consumer-wants-in-banking-and-a-checklist-to-meet-them.
- Osterwalder, A. (2004). The Business Model Ontology − A Proposition in a Design Science Approach. PhD Thesis, University of Lausanne, Switzerland. Available at: http://www.hec.unil.ch/aosterwa/PhD/Osterwalder_PhD_BM_Ontology.pdf.
- Wirtz, B.W., Pistoia, A., Ullrich, S. and Göttel, V. (2016). Business Models: Origin, Development and Future Research Perspectives. Long Range Planning, 49(1), 36-54. Available at: https://pdfs.semanticscholar.org/1bca/3bb962761b1165dfbf42ef658bf7c179bb8b.pdf.
- Zott, C., Amit, R. and Massa, L. (2011). The Business Model: Recent Developments and Future Research. Journal of Management, 37(4), 1019-1042. Available at: http://www.cse.tkk.fi/fi/opinnot/T-109.4300/2013/luennot-files/Zott%20et%20al.%20-%202011%20-%20The%20Business%20Model%20Recent%20Developments%20and%20Future%20Research.pdf.