Short answer
Develop and implement a comprehensive organizational renewal and self-regeneration framework to proactively address market volatility and ensure long-term viability.
- Field
- Innovation & Design
- Source
- Journal of Management and Science (2023)
- Method
- Qualitative research
- Evidence
- Strong effect
Financial institutions can bolster their long-term sustainability and continuity by adopting a structured organizational renewal and self-regeneration model, particularly during periods of market turbulence. This innovation & design research insight is drawn from a 2023 study published in Journal of Management and Science. Using Qualitative research, researchers explored how this design variable affects real-world outcomes. The key design takeaway: Develop and implement a comprehensive organizational renewal and self-regeneration framework to proactively address market volatility and ensure long-term viability.
Organizational Renewal Model Enhances Bank Sustainability Amid Market Discontinuities
Financial institutions can bolster their long-term sustainability and continuity by adopting a structured organizational renewal and self-regeneration model, particularly during periods of market turbulence.
Journal of Management and Science · 2023
Key Findings
- 01Key organizational renewal strategies employed by Caribbean banks include financial service innovation, digital transformation, value-based marketing, and CSR-based banking models.
- 02Significant impediments to the effectiveness of these strategies are the substantial costs of change and organizational inertia.
- 03An 'Organisational Renewal and Self-Regeneration Model' is proposed to enhance adaptability, continuity, and sustainability.
Application
Design takeaway
Develop and implement a comprehensive organizational renewal and self-regeneration framework to proactively address market volatility and ensure long-term viability.
How to apply
Financial institutions should assess their current renewal strategies, identify barriers, and consider adopting a structured model that promotes agility and self-regeneration.
Project actions
- 01When researching organizational strategies, consider the context and specific market challenges.
- 02Analyze the trade-offs between innovation and the costs/resistance associated with implementing change.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Addresses a critical need for organizational resilience in financial markets.
- +Provides practical strategies and a conceptual model for renewal.
Limitations
Generalizing findings from a specific regional market (Caribbean) to other contexts may require further validation.
Reliability & validity
The qualitative nature of the study might limit generalizability, but the focus on real-world strategies in a specific context enhances ecological validity.
Think critically
To what extent can a standardized 'renewal model' be universally applied across diverse financial markets, considering varying regulatory environments and cultural contexts?
Design Principles
"Continuous organizational adaptation is critical for sustained success in dynamic environments."
This research highlights that proactive and strategic adaptation is not just beneficial but essential for financial entities facing unpredictable market conditions. Implementing a robust renewal model can help banks navigate challenges, maintain operational integrity, and ensure sustained relevance.
What This Means for Your Design
Banks need a plan to change and improve themselves when the market gets tough, using things like new technology and being socially responsible, but they need to watch out for high costs and resistance to change.
How to use in your project
- 1.This research can inform the justification for a design project focused on improving organizational efficiency or adaptability in a specific sector.
Add to My Project
Quick Cite
Paragraph starter
This study by Davis-Adesegha (2023) explored how financial institutions can achieve organizational renewal and self-regeneration to ensure sustainability during market discontinuities. It identified key strategies such as digital transformation and CSR, while also noting challenges like high costs and organizational inertia. The research proposes a model for enhancing adaptability, which is crucial for designing resilient systems in dynamic environments.
Source
Journal of Management and Science
Organisational renewal model for leveraging a bank’s sustainability and continuity during periods of discontinuities: a perspective from the caribbean financial markets
journal · 2023
View sourceQuestions About This Research
- What does the research say about organizational renewal model enhances bank sustainability amid market discontinuities?
- Develop and implement a comprehensive organizational renewal and self-regeneration framework to proactively address market volatility and ensure long-term viability. Evidence: Journal of Management and Science (2023).
- Why does "Organizational Renewal Model Enhances Bank Sustainability Amid Market Discontinuities" matter for design?
- This research highlights that proactive and strategic adaptation is not just beneficial but essential for financial entities facing unpredictable market conditions. Implementing a robust renewal model can help banks navigate challenges, maintain operational integrity, and ensure sustained relevance.
- How can designers apply this research?
- Develop and implement a comprehensive organizational renewal and self-regeneration framework to proactively address market volatility and ensure long-term viability.
- What were the main findings?
- Key organizational renewal strategies employed by Caribbean banks include financial service innovation, digital transformation, value-based marketing, and CSR-based banking models.. Significant impediments to the effectiveness of these strategies are the substantial costs of change and organizational inertia.. An 'Organisational Renewal and Self-Regeneration Model' is proposed to enhance adaptability, continuity, and sustainability.
- What research method was used?
- Qualitative research.
- How strong is the evidence?
- Evidence strength is rated Strong effect, based on a 2023 journal from Journal of Management and Science.
- What should I do differently in my next project?
- Financial institutions should assess their current renewal strategies, identify barriers, and consider adopting a structured model that promotes agility and self-regeneration.
- What are the limitations?
- The study focused specifically on Caribbean financial markets, and the impact on liquidity risks was not explored.