Digital Business Model, Digital Transformation, Digital Entrepreneurship: Is There A Sustainable “Digital”?

Bican, Peter M.; Brem, Alexander

doi:10.3390/su12135239

Cited by 187 publications

(87 citation statements)

References 56 publications

(74 reference statements)

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“…Digitalisation plays a major role in contributing towards the United Nations Sustainable Development Goals. Without transformation of existing businesses, both economic and environmental challenges of the future cannot be solved sustainably [39]. Digital transformations will produce new social groups-partly human, semi-human, or nonhuman-some of which already exist, and some which can be foreseen by extrapolating from recent developments in the field of brain wearables, robotics, and software engineering.…”

Section: Literature Reviewmentioning

confidence: 99%

Digital Transformation in Banking: A Managerial Perspective on Barriers to Change

Diener

Špaček

2021

Sustainability

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The digitalisation of banks is seen as the omnipresent challenge which the banking industry is currently facing. In this digital change process, banks are facing disruptive innovation that requires adaptation of almost all cooperative processes. Digital transformation in the financial industry is associated with obstacles that seem to hinder smooth implementation of digital approaches. This issue has not been adequately addressed in the current academic literature. The main purpose of this qualitative exploratory study is to identify the main perceived obstacles to digital transformation in both the private and commercial banking sectors from a managerial point of view and to analyse them accordingly. The methodology is based on a methodological approach using a combination of contextual interviews with German board members of banks, inductive content analysis, and the exploration of best-practice approaches. The findings revealed that elements of strategy and management, technology and regulation, customers, and employees receive a high level of attention within the digital transformation. The other main barriers can be found in the areas of market knowledge and products, employee and customer participation, and public benefit. Each main barrier is characterised by several sub-barriers of varying importance for the digital transformation of banks and is described in detail.

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Section: Literature Reviewmentioning

confidence: 99%

Digital Transformation in Banking: A Managerial Perspective on Barriers to Change

Diener

Špaček

2021

Sustainability

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“…Thus, financial innovations should lead to better investor decisions and, hence, greater investment [17]. Using big data and digitized solutions [22], fintechs present several key advantages: reduced costs for both companies and fintechs and the ability to conduct and see all actions in real-time [13]. Financial technologies strive to make financial services more accessible, efficient, and affordable for customers and change the way traditional services are provided.…”

Section: Fintechs and The Traditional Banking Marketmentioning

confidence: 99%

Digital Entrepreneurship in Finance: Fintechs and Funding Decision Criteria

Hommel

Bican

2020

Sustainability

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After the 2007–08 global financial crisis, research flourished on entrepreneurship through digital innovation in the financial market as well as on investors’ influence on digital technology-based entrepreneurs’ funding decisions. This study combines these two research streams to analyze the decision-making criteria for funding financial technology companies (fintechs), hybrid companies that combine digital entrepreneurship, technology, and banking. The study first uses prior literature to derive important characteristics to define fintechs and then uses 12 expert interviews to elaborate on decision-making criteria in funding. Except for smaller peculiarities, fintech funding does not appear to differ from that of other digital entrepreneurship in different markets, and—as with most digital business models—scalability was identified as a key criterion. Additionally, by serving as a major provider of money for young companies, banks have changed their role and positioning in funding new financial technology entrepreneurs. Through developments in digital technology, banks have shifted from traditional money-lending activities (i.e., debt-financing) to becoming stakeholders in fintechs and, hence, equity investors. We also describe how these formerly distinct fields have converged due to regulatory requirements, digital newcomers, and a need for constant innovation, with their future sustainable development dependent on sharing and collaboration.

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“…Meanwhile, going on an even more interesting path, Bican et al, in agreement with the changes that are taking place worldwide regarding digital transformations, analyzed the implications of these transformations in entrepreneurship. The authors discuss the sustainability of digital entrepreneurship, presenting an extremely favorable perspective on this type of entrepreneurship [13].…”

Section: Theoretical Context For Entrepreneurship and Entrepreneurial Eco-sitementioning

confidence: 99%

Implications of Entrepreneurial Intentions of Romanian Secondary Education Students, over the Romanian Business Market Development

2021

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The study investigates the Romanian entrepreneurial education training program emphasizing the secondary education student entrepreneurial intents included in technical and professional Vocational Education Training (VET) programs, in order to identify its role in increasing student intention in the process of choosing a career as an entrepreneur among graduates of the vocational and technical Romanian education system. The study research methodology was based on the interpretation of two questionnaires consisting of 23 questions, which were applied to a population of 253 and 159 respondents. The survey period was conducted between 2019 and 2020. The respondents were students from the vocational and technical education system in Romania, mostly from the Central Region of Romania, but the results of the study could be extended to the entire Romanian education system. The data were processed using SPSS software, and the results of the study revealed direct, positive, and significant links between psychological and behavioral traits and entrepreneurial intentions of the student surveyed, moderated by the entrepreneurial education acquired through the school curriculum. These results could also be the basis for developing future policies and programs to encourage entrepreneurial behavior, especially for secondary education students from the Romanian education system, specifically on pre-university education.

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Digital Business Model, Digital Transformation, Digital Entrepreneurship: Is There A Sustainable “Digital”?

Cited by 187 publications

References 56 publications

Digital Transformation in Banking: A Managerial Perspective on Barriers to Change

Digital Transformation in Banking: A Managerial Perspective on Barriers to Change

Digital Entrepreneurship in Finance: Fintechs and Funding Decision Criteria

Implications of Entrepreneurial Intentions of Romanian Secondary Education Students, over the Romanian Business Market Development

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