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Sustainability and Readiness for Change: Insights from a Banking Case Study in Serbia

Author

Listed:
  • Ljiljana Kontic

    (Faculty of Legal and Business Studies, Novi Sad, Serbia)

  • Jovan Kontic

    (Eurobank EFG a.d., Belgrade, Serbia)

Abstract

This paper examines the issues of sustainable banking and readiness for change using the mixed methods research approach. The research setting consisted of an international bank which operates in Serbia. Serbia is one of Western Balkan countries. The concept of sustainability is well explored in developed countries. The financial institutions from Serbia have not been included in those studies. This paper suggests key issues which need to be addressed related to the sustainability and change in the banking sector in Serbia. The main aim of this study is to assess sustainability and readiness for change in transition environment. This paper contributes to the existing literature by assessing readiness for change in selected bank. Regarding different characteristics of national cultures, the construct validity of research methodology developed in one society will be investigated for a Serbian sample. The qualitative data about sustainability were sourced from publicly available information about bank. The Organizational Diagnosis Questionnaire (ODQ) developed by Preziosi (1980) is used to assess the bank's readiness for change. The sample consisted of 137 managers different socio demographic variables from bank. The research findings revealed possible practical implementation of ODQ in Serbia. The sustainable attitude of the bank is rewarded by different organizations in Serbia. The results revealed that changes in the bank should be led top down. The findings add to the existing literature on factors causing organizational effectiveness in cross-cultural organizational contexts. The practical implementation and study limitation are suggested.

Suggested Citation

  • Ljiljana Kontic & Jovan Kontic, 2012. "Sustainability and Readiness for Change: Insights from a Banking Case Study in Serbia," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 537-548, June.
    • Handle: RePEc:aes:amfeco:v:14:y:2012:i:32:p:537-548
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    References listed on IDEAS

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    Cited by:

    1. Nemanja Berber & Agneš Slavić & Marko Aleksić, 2020. "Relationship between Perceived Teamwork Effectiveness and Team Performance in Banking Sector of Serbia," Sustainability, MDPI, vol. 12(20), pages 1-15, October.
    2. Katarzyna Piwowar-Sulej, 2022. "Sustainable development and national cultures: a quantitative and qualitative analysis of the research field," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(12), pages 13447-13475, December.

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    More about this item

    Keywords

    sustainability; bank; management; organizational change; national culture; Serbia;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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