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.

If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -The purpose of this paper is to elucidate on specific risk mitigation approach which is known as "scenario approach". Description of stepwise process of their elaboration, which is worth considering for managers, offers feasible tool not only for company risk management improvement but also for significant enhancement of the quality of company strategic planning. Authors also draw attention to advantages and disadvantages of investment and strategic scenario planning. Theoretical implications of using scenario approaches are exemplified both by the set of investment projects and company strategic planning process where method in question was applied. Design/methodology/approach -As for methods applied which fulfilled research strategies, it is worth mentioning following items: analysis which explores particular parts of methodology of scenario elaboration and application, the way of obtaining information, impact on strategy, working with risks and organizational support of outcomes in company environment; synthesis observing context and natural relation of problems solved which supports research hypotheses formulation; induction generalizing facts acquired from results in companies; deduction to be grounds on which conclusion of this paper was drawn up; abstraction used upon evaluation of case studies; comparison assessing consistency and inconsistency of phenomena and objects; description inevitable for characterization of companies and environment in which they operate; interview collecting information inevitable for the evaluation of the way of working with scenarios and company knowledge standards; modelling was used upon consideration about possible future development of factors observed. Findings -The paper arrived at conclusion, that scenario approach, when used appropriately, may significantly mitigate risk exposure of the company. Conclusions which have been made on selected industrial companies can be extended to other industrial branches. Practical application of scenario planning method confirmed that this approach was superior to deterministic single scenario model. Scenario technique thus compensates for deficiencies and omissions which are inherent in si...

Company value creation is considered a significant metric to measure corporate success. One possible method is the launch of innovative products that potentially attract new customers and capture a reasonable market share. This discussion highlights examples wherein heightening innovation activities through incremental increases in Research and Development spending, the number of innovative products in the sales funnel, as well as those innovative products in the marketplace impact company value. Yet, another company value driver, worthy of consideration, is the effective management of innovation processes. The Stage Gate Control Process embodies a recognized framework for effective innovation process management.  Central to this manuscript is the case of PharmaComm, a pharmaceutical company that developed a customized version of the Stage Gate Control Process.  By this way PharmaComm accelerated new products development and shortened time to launch.  In adapting this methodology, it multiplied company value during the acquisition process.

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Shaped by the current turbulent era of macroeconomic forces, inclusive of the technological challenges of Industry 4.0, and ubiquitous uncertainties, the business environment and its stakeholders hold high expectations for sustainable organizational practices, including harmonized and comprehensible sustainability reporting. Increasingly, responsible behavior towards internal stakeholders comes from within organizations, valuing employees as a key asset and introducing sustainable human resource management (S-HRM) practices to motivate their workforce. Reporting on these S-HRM practices and sustainability is in the highest interests of managers and investors alike. Focusing on the involved parties, employees most particularly, the paper contributes to the stakeholder theory. The literature review, previous S-HRM studies’ interpretation and their critical assessment, the GRI standards’ comparative analysis, and Lawshe’s content validity approach have been applied as the methodological framework. With the purpose to extend the scientific literature on S-HRM and its reporting, the authors aim to close the gap between purely theoretical S-HRM treaties and more practically oriented studies on reporting. The findings on the key areas of S-HRM practices give rise to the S-HRM Practices Model, the main goal of this study. This comprehensible model may serve as a harmonized instrument for sustainable HRM reporting analysis and auditing for academia and practitioners alike.