Theoretical and Methodological Basis for Determining Vectors of the Development of Strategic Management of Banks and the Formation of Their Business Models

Abstract

In the work, the theoretical principles of determining trends and vectors of scientific research on issues of strategic management and the formation of the business model of banks are formed, which, unlike the existing ones, are based on the results of the structuring of the existing research work using the VOSviewer v toolkit. 1.6.10, Web of Science Results Analysis Tool, Scopus Citation Overview tool. The structuring of the scientific work on issues of strategic management and the business model of banks was carried out in the following sequence: 1) determination of the quantitative trend of articles; 2) identification the main subject areas; 3) determination of the most cited articles and journals; 4) clustering of articles in relation to the main directions of research in order to determine further analysis options. A dynamic analysis of the number of scientific publications on the issues of strategic management and business models of banks proved that during 1991–2004, the focus of scientific attention was on issues related to business models of banks, in the period 2005–2010, the issues of the formation of business models of banks were studied simultaneously with issues of strategic management, and since 2015, the focus of scientific research has been on the topic of strategic management of banks. The results of the bibliometric analysis proved the presence 5 clusters summarizing the context of research on strategic management of banks, as well as 7 clusters - on issues of business models of banks. The identified trends proved that the triangle "profitability - risk - reliability" and information technologies and regulation are becoming an important part of the banking business model, while financial technologies, information management are an important part of the strategic management of banking activities. At the same time, the development of a business strategy, business model, balancing the profitability-risk-stability triangle in the trend of strategic management of banking activities is becoming more and more important for the bank due to the growing demands of customers and shareholders. The conducted research made it possible to determine the phases of concentration of attention of scientists on the issues of strategic management and the business model of banks, to describe the vectors summarizing the meaningful context of research, as well as to substantiate the dominant tasks that arise during the formation and transformation of business strategies of banks at the current stage of the development of banking.