University of Twente Student Theses
Digitalization at a Family Business in the Financial-Services Industry : A Case Study
Pluim, E. (2024) Digitalization at a Family Business in the Financial-Services Industry : A Case Study.
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| Abstract: | Digitalization is a requirement for businesses to succeed in today’s competitive and rapidly evolving business environment. Despite this, approximately 70% of all change initiatives fail. This low success rate may indicate a lack of a valid model or method for implementing and managing digitalization. Although family businesses represent most businesses worldwide, the specific opportunities and challenges that family businesses face regarding digitalization have received little research attention. Therefore, the aim of this research was to provide a model suitable for implementing organizational changes – specifically, digitalization – among family businesses in the financial-services sector. For this purpose, 12 semi-structured interviews of employees, managers, and top managers at a family business were conducted and analyzed using the Gioia Method. The findings showed several points of attention in the organization’s business process. For example, in addition to the stakeholders influencing the business, the stakeholders were influenced by the business’ choices and actions. The way of working for the business changed after the implementation of the change process. Implementing digitalization in the family business required a more detailed and recent model than the known change models. This resulted in a new model containing phases, which can guide other family businesses through organizational changes such as digitalization. |
| Item Type: | Essay (Master) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | Business Administration MSc (60644) |
| Link to this item: | https://purl.utwente.nl/essays/97934 |
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