IDEAS home Printed from https://ideas.repec.org/a/bdd/journl/v15y2021i1p1-26.html
   My bibliography  Save this article

Idea Evaluation in Innovation Management for the New Normal in Banking: A Case Study in Vakýfbank

Author

Listed:
  • Senay DEMÝREL
  • Suha Erdem YABAS
  • Caglar UCLER
  • Sait SENER
  • Metin Recep ZAFER

Abstract

Banking environment, traditional with an established physically collocated work culture, has been disrupted by the COVID-19 pandemic. It triggered the evolution of innovation management processes to handle the issues related to spatial spread, fuzziness and collective information development during idea evaluation. In this paper, Vakýfbank Innovation Management System (V-IMS) was exemplified utilizing ICT for virtual collaboration, MCDM (Multi Criteria Decision Making) methods within stage-gates, transforming knowledge and exploiting collaboration at the fuzzy front end. There, physically collocated work culture was transformed into delocated collaboration with an agile approach utilizing lean information flow, which emphasizes the people exchanging tacit into explicit knowledge on the move rather than long documentations. Moreover, the culture of innovation has been fostered, innovation management metrics were improved significantly and both the number of sessions and ideas presented in the sessions were found to be increased. It was observed that the satisfaction level and innovation commitment of the employees were increased with the new system as well.

Suggested Citation

  • Senay DEMÝREL & Suha Erdem YABAS & Caglar UCLER & Sait SENER & Metin Recep ZAFER, 2021. "Idea Evaluation in Innovation Management for the New Normal in Banking: A Case Study in Vakýfbank," Journal of BRSA Banking and Financial Markets, Banking Regulation and Supervision Agency, vol. 15(1), pages 1-26.
    • Handle: RePEc:bdd:journl:v:15:y:2021:i:1:p:1-26
    as

    Download full text from publisher

    File URL: https://www.bddk.org.tr/Content/docs/bddkDergiTr/dergi_0029_03.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ale Ebrahim, Nader & Ahmed, Shamsuddin & Taha, Zahari, 2009. "Virtual R & D teams in small and medium enterprises: A literature review," MPRA Paper 27045, University Library of Munich, Germany, revised Oct 2009.
    2. Hagedoorn, John, 2002. "Inter-firm R&D partnerships: an overview of major trends and patterns since 1960," Research Policy, Elsevier, vol. 31(4), pages 477-492, May.
    3. Lyons, Richard K. & Chatman, Jennifer A. & Joyce, Caneel K., 2007. "Innovation in services: corporate culture and investment banking," LSE Research Online Documents on Economics 26940, London School of Economics and Political Science, LSE Library.
    4. Ale Ebrahim, Nader & Ahmed, Shamsuddin & Taha, Zahari, 2008. "Virtual teams: A literature review," MPRA Paper 27001, University Library of Munich, Germany, revised Jan 2009.
    5. Casanueva, Cristóbal & Castro, Ignacio & Galán, José L., 2013. "Informational networks and innovation in mature industrial clusters," Journal of Business Research, Elsevier, vol. 66(5), pages 603-613.
    6. Raul O. Chao & Stylianos Kavadias, 2008. "A Theoretical Framework for Managing the New Product Development Portfolio: When and How to Use Strategic Buckets," Management Science, INFORMS, vol. 54(5), pages 907-921, May.
    7. Saaty, Thomas L., 1990. "How to make a decision: The analytic hierarchy process," European Journal of Operational Research, Elsevier, vol. 48(1), pages 9-26, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ale Ebrahim, Nader & Ahmed Shamsuddin & Abdul Rashid, Salwa Hanim & Taha, Zahari, 2012. "Effective Virtual Teams for New Product Development," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 7(21), pages 1971-1985.
    2. Sema Nur Batırlık & Yasin Galip Gencer & Ulas Akkucuk, 2022. "Global Virtual Team Leadership Scale (GVTLS) Development in Multinational Companies," Sustainability, MDPI, vol. 14(2), pages 1-20, January.
    3. Linden, Erik, 2021. "Pandemics and environmental shocks: What aviation managers should learn from COVID-19 for long-term planning," Journal of Air Transport Management, Elsevier, vol. 90(C).
    4. Ale Ebrahim, Nader & Ahmed, Shamsuddin & Abdul Rashid, Salwa Hanim & Taha, Zahari, 2010. "Virtual R&D Teams: A potential growth of education-industry collaboration," MPRA Paper 27414, University Library of Munich, Germany, revised 28 Jul 2010.
    5. Huynh Thi Minh Chau & Nguyen Manh Tuan, 2018. "A conceptual framework of virtual team effectiveness from the socio-technical perspective," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 8(2), pages 65-94.
    6. Nader Ale Ebrahim & Shamsuddin Ahmed & Zahari Taha, 2010. "Virtual R&D Teams and SMEs Growth: A Comparative Study Between Iranian and Malaysian SMEs," Post-Print hal-00593364, HAL.
    7. Sylvaine Castellano & Philippe Davidson & Insaf Khelladi, 2017. "Creativity techniques to enhance knowledge transfer within global virtual teams in the context of knowledge-intensive enterprises," The Journal of Technology Transfer, Springer, vol. 42(2), pages 253-266, April.
    8. Caputo, Francesco & Soto-Acosta, Pedro & Chiacchierini, Claudio & Mazzoleni, Alberto & Passaro, Pierluigi, 2021. "Smashing local boundaries for sustain companies’ innovativeness: The role of international R&D teams," Journal of Business Research, Elsevier, vol. 128(C), pages 641-649.
    9. Ale Ebrahim, Nader & Ahmed, Shamsuddin & Taha, Zahari, 2010. "Critical factors for new product developments in SMEs virtual team," MPRA Paper 26936, University Library of Munich, Germany, revised 15 Jul 2010.
    10. Marina Papanastassiou & Robert Pearce & Antonello Zanfei, 2020. "Changing perspectives on the internationalization of R&D and innovation by multinational enterprises: A review of the literature," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(4), pages 623-664, June.
    11. Jasper R. De Vries & Séverine Van Bommel & Karin Peters, 2018. "Trust at a Distance—Trust in Online Communication in Environmental and Global Health Research Projects," Sustainability, MDPI, vol. 10(11), pages 1-14, November.
    12. Gilli, Katharina & Veglio, Valerio & Gunkel, Marjaana & Taras, Vas, 2022. "In search of the Holy Grail in global virtual teams: The mediating role of satisfaction on performance outcomes," Journal of Business Research, Elsevier, vol. 146(C), pages 325-337.
    13. Davaei, Mahboobeh & Gunkel, Marjaana & Veglio, Valerio & Taras, Vas, 2022. "The influence of cultural intelligence and emotional intelligence on conflict occurrence and performance in global virtual teams," Journal of International Management, Elsevier, vol. 28(4).
    14. Mattarelli, Elisa & Tagliaventi, Maria Rita & Carli, Giacomo & Gupta, Amar, 2017. "The Role of Brokers and Social Identities in the Development of Capabilities in Global Virtual Teams," Journal of International Management, Elsevier, vol. 23(4), pages 382-398.
    15. Naz Abdulkareem Arif & Moha Asri Bin Abdullah, 2020. "Problems and Global Challenges of Small and Medium Enterprises (SMEs) in Iran," International Journal of Science and Business, IJSAB International, vol. 4(12), pages 80-92.
    16. Flavio Martins & Maria Fatima Almeida & Rodrigo Calili & Agatha Oliveira, 2020. "Design Thinking Applied to Smart Home Projects: A User-Centric and Sustainable Perspective," Sustainability, MDPI, vol. 12(23), pages 1-27, December.
    17. Thuy Linh Nguyen & Chisato Asahi & Thi An Tran & Ngoc Hanh Le, 2022. "Indicator-based approach for flood vulnerability assessment in ancient heritage city of Hoi An, Central Region of Vietnam," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 114(2), pages 2357-2385, November.
    18. Hasan, Tahseen & John, Kose & Teng, Haimeng & Wu, Qiang, 2024. "Creative corporate culture and corporate tax avoidance," The British Accounting Review, Elsevier, vol. 56(3).
    19. Kupfer, David & Avellar, Ana Paula, 2011. "Innovation and cooperation: evidence from the Brazilian innovation survey," Documentos de Proyectos 3900, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    20. Jochen Wulf, 2020. "Development of an AHP hierarchy for managing omnichannel capabilities: a design science research approach," Business Research, Springer;German Academic Association for Business Research, vol. 13(1), pages 39-68, April.

    More about this item

    Keywords

    Banking; Innovation management; Ideation; Idea evaluation; New normal; Virtual collaboration; Fuzzy front end.;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bdd:journl:v:15:y:2021:i:1:p:1-26. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sumeyye Azize CENGIZ (email available below). General contact details of provider: https://edirc.repec.org/data/bddgvtr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.