A Systemic Framework for Business Model Design and Development -Part B: Practical Perspective
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A Systemic Framework for Business Model Design and Development -Part B: Practical Perspective Payam Hanafizadeh 1
& Mohammad Mehrabioun
1
# Springer Science+Business Media, LLC, part of Springer Nature 2019
Abstract Profit-making requires innovation in the design of a successful business model that brings about sustainable competitive advantage for the organization. Given the increasing use of mobile phones in financial affairs, the design and development of mobile banking business model is one of the major concerns of the banking sector. Since there are a multitude of stakeholders with different viewpoints on what and how value can be added through mobile, the development of mobile banking business model has turned into a complex problem. In light of this, this study aims at developing a mobile banking business model, using a new framework based on Soft Systems Methodology (SSM). This framework consists of 18 steps, ranging from finding out the problem situation to the implementation of the model. One of the Iranian private banks was selected as the case of the current study. The results revealed that in the context of the problem, the development of mobile banking business model requires the interaction among 7 sub-systems. Which emerge out of the accommodation between three different mindsets involved in the development of mobile banking business model. Keywords Mobile banking business model . Business model development . Soft systems methodology . Systemic framework . Mobile banking
Introduction As with other industries, the banking sector has been influenced by the development of new technologies, resulting in fierce competition and directing the customers’ attitude toward the ebanking services (Hanafizadeh et al. 2014b). Consequently, digital banking is now viewed as
* Payam Hanafizadeh [email protected] Mohammad Mehrabioun [email protected]
1
Department of Industrial Management, Faculty of Management and Accounting, Allameh Tabataba’i University, West End Hemmat Highway, Dehkadeh-ye-Olympic, Tehrān 1489684511, Iran
Systemic Practice and Action Research
more essential than traditional banking. The emergence of non-financial agents such as MNOs (Mobile Network Operators), telecommunication companies, startups, as well as non-banking companies including Google, PayPal, and Amazon have complicated the competition for banks. In the traditional banking, the fundraising was based on the relationships between the bank managers and the clients while in the modern banking sectors, the relationship-based investment has been overshadowed by investment in technology (King 2012). On top of that, the traditional approach to banking lacks the following: the introduction of virtual currencies, cloud computing-based services, and transactions related to hidden payments, among others (Shaikh et al. 2017). Mobile financial services allow the users to receive the financial services ubiquitously at their place far from the financial institute, using their mobile devices. These services embrace the following: rea
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