| Title | Sustainable business model archetypes for the banking industry |
|---|---|
| ID_Doc | 33880 |
| Authors | Yip, AWH; Bocken, NMP |
| Title | Sustainable business model archetypes for the banking industry |
| Year | 2018 |
| Published | |
| Abstract | Sustainable business model innovation is increasingly viewed as a lever for systems change for sustainability across businesses and industries. Banks hold a unique intermediary role in sustainable development, but also have a difficult position after the 2008 financial crisis. This paper aims to explore business models for sustainability in the service industry, particularly banking. It explores the receptiveness of customers towards sustainable business models pursued by banks. The retail banking industry in Hong Kong is the focus of this work. First, a practice review and semi-structured interviews are used to develop and validate a set of sustainable business model archetypes for the banking industry. Second, surveys are conducted to test customer receptiveness for the archetypes. Eight sustainable business model archetypes for banking are developed and validated. "Substitute with digital processes", "adopt a stewardship role" and "encourage sufficiency" are most welcomed by customers. Some archetypes seem at direct odds with current business practice, such as "encourage sufficiency". This study gives an insight to how to "do good and do well" in the banking industry. Further research on the attributes of these archetypes can be conducted to gain a deeper understanding why customers prefer banks to use these archetypes. (C) 2017 The Authors. Published by Elsevier Ltd. |
| https://doi.org/10.1016/j.jclepro.2017.10.190 |
Similar Articles
| ID | Score | Article |
|---|---|---|
34036
|
Nosratabadi, S; Pinter, G; Mosavi, A; Semperger, S Sustainable Banking; Evaluation of the European Business Models(2020)Sustainability, 12, 6 | |
| 34231
|
Treptow, IC; Drago, HF; Kneipp, JM; de Moura, GL Sustainable Business Model In The Banking Services Sector: A Study In Public Banks(2020)Revista Metropolitana De Sustentabilidade, 10, 2 | |
| 33856
|
Grijalvo, M; García-Wang, C Sustainable business model for climate finance. Key drivers for the commercial banking sector(2023) | |
| 78036
|
Karkowska, R Business Model as a Concept of Sustainability in the Banking Sector(2020)Sustainability, 12, 1 | |
| 33984
|
Bocken, NMP; Short, SW; Rana, P; Evans, S A literature and practice review to develop sustainable business model archetypes(2014) | |
| 33872
|
Hope, A Sustainable Business Model Design: A Review of Tools for Developing Responsible Business Models(2018) | |
| 73568
|
Costa-Climent, R; Martínez-Climent, C Sustainable profitability of ethical and conventional banking(2018)Contemporary Economics, 12, 4 | |
| 25633
|
Dentchev, N; Rauter, R; Jóhannsdóttir, L; Snihur, Y; Rosano, M; Baumgartner, R; Nyberg, T; Tang, XF; van Hoof, B; Jonker, J Embracing the variety of sustainable business models: A prolific field of research and a future research agenda(2018) | |
| 33893
|
Corrales-Estrada, M Sustainable Business Models and Value Creation(2019) | |
| 33951
|
Geissdoerfer, M; Vladimirova, D; Evans, S Sustainable business model innovation: A review(2018) |