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Validating internal barriers towards radical and disruptive innovation in the Dutch Financial Services and Banking sector.

Koopmans, C.S. (2021) Validating internal barriers towards radical and disruptive innovation in the Dutch Financial Services and Banking sector.

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Abstract:Firms in the Dutch financial services sector fully recognizing the necessity and importance of radical and disruptive innovation. Yet at the same time, banks face considerable (internal) barriers when attempting to embrace disruptive innovative trends oreven new business models.Das, Verburg, Verbraeck, & Bonebakker, (2018)have explored a case study within this sector regarding internal barriers towards disruptive and radical innovation. They procreated a framework for large Financial Services firms, consisting of sixkey barriers towards disruptive innovation: a lack of exploiting new idea’s, inertia caused by (local) systems architecture, an unsupportive organizational structure, too much focus on risk avoidance, absence of fundamental research and development as well as the not-invented-here-syndrome.This researchfocuses on further validating that framework. To enrich this framework six innovative projects within three large firmswithin the Dutch Financial Services and Bankingsector that failed were researched.Interestingly, this study found evidence of subsistence of those barriers within these firms with the exception of inertia caused by (local) systems architecture. The enriched framework was then measured against innovative projects that were deemed successful resulting in the nuancing of the two barriers: an unsupportive organizational structureand a lack of exploiting new idea’s.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics, 85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/85954
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