Designing a Strategic Entrepreneurship Model: with a Sustainable Development Approach in Specialized Bank

Document Type : Original Article

Author
PhD, Department of Entrepreneurship, Qazvin Branch, Islamic Azad University, Qazvin, Iran.
Abstract
The growth and rapid changes of technology and the complexity of interactions are proceeding to a wide and uncontrollable extent that specialized banks are forced to adopt strategic entrepreneurship models as a competitive advantage and gain value in order to maintain and improve their position. This combination of entrepreneurship and strategic management knowledge enables banks to create wealth through recognizing opportunities and developing competitive advantages to exploit them so that it will lead to a sustainable growth and development in society. The purpose of this research is to extract the effective categories and subcategories that make up the strategic entrepreneurship model with a sustainable development approach for adopting an effective strategy in specialized banks. Accordingly, the data was extracted through semi-structured interviews with 15 bank managers and experts, and the inductive content analysis method and MAXQDA2020 software were used in the data analysis. The research model contains three main components and a comprehensive subset which has been born through other models that can provide a perspective for the banking industry by codifying a sustainable strategy to develop capacities and balance economic, social and environmental goals.  

Keywords

Subjects


Adams, P; Freitas, I. M. B & Fontana, R (2019). “Strategic orientation, innovation performance and the moderating influence of marketing management,” Journal of Business Research, vol. 97: 129-140.
Amalia, R; Rakhmawati, L; Afrida, A. & Pribadi, J (2020). “New venture competitive advantage and performance: The Role of strategic entrepreneurship”. In Proceedings Ache Global Conference-Business, Economics, and sustainable Development Trends, 2: 42-46.
Amini, T., Nasiri, M., Saidi, P., Abbasi, A. (2019). "Strategic entrepreneurship model based on financial development with fuzzy AHP approach", Karafan Scientific Quarterly, 17 (3): 123-137.
Amir, A; Auzair, S. M & Amiruddin, R (2016). “Cost management, entrepreneurship and competitiveness of strategic priorities for small and medium enterprises”. Procceda-Social and Behavioral Sciences, 219: 84-90. 
Asteriou, D. & Spanos, K (2019). “The relationship between financial development and economic growth during the recent crisis: Evidence from the EU”. Finance Research Letters, 28: 238-245.
Brokman, P; Khurana, I. K. & Zhong, R. I (2018). “Societal trust and open innovation”. Research Policy, 47(10): 2048-2065.
Charhchi, R., Toloui, A., Alborzi, M. (2018). "Designing a dynamic model for the strategic evaluation of innovation with the approach of multiple scenarios", Strategic Management Research Quarterly, 72 (25): 13-40.
Chu, L. K. (2021). “Economic structure and environmental Kuznets curve hypothesis: new evidence from economic complexity”. Applied Economics Letters, 28(7): 612-616.
Creswell, J. W & Poth, C. N (2016). Qualitative inquiry and research design: choosing among five approaches. 
de Guimaräes, J. C. F; Severo, E. A & de Vasconcelos, C. R. M (2018). “The influence of entrepreneurial, market, knowledge management orientations on cleaner production and the sustainable competitive advantage”. Journal of Cleaner Production, 174: 1653-1663.
Dhahri, S & Omri, A (2018). “Entrepreneurship contribution to the three pillars of sustainable development: What does the evidence really say?”. World Development, 106: 64-77.
Doghan, N (2015). “The intersection of entrepreneurship and strategic management: strategic entrepreneurship”. Procceda-Social and Behavioral Sciences, 195: 1288-1294.
Duran, D. C; Artene, A. L; Gogan, M & V. Duran, “The objectives of sustainable development – Ways to achieve welfare”. Procedia Economics and Finance, 26: 812-817.
Galindo-Martin, M.Á; Castaño-Martinez, M. S & Méndez-Pcazo, M. T (2021). “Effects of the pandemic crisis on entrepreneurship and sustainable development”. Journal of Business Research, 137: 345-353.
Gölgeci, I; Larimo, J & Arslan, A (2017). “Institutions and dynamic capabilities: Theoretical insights and research agenda for strategic entrepreneurship”. Scandinavian Journal of Management, 33(4): 243-252.
Gregori, P. & Holzmann, P (2020). “Digital sustainable entrepreneurship: A business model perspective on embedding digital technologies for social and environmental value creation”. Journal of Cleaner Production, 272: 122817.
Gu, W & Zheng, X (2021). “An empirical study on the impact of sustainable entrepreneurship: Based on the environmental Kuznets model”. Journal of Business Research, 123: 613-624.
Gwet, K. L (2014). Handbook of inter-rater reliability: The definitive guide to measuring the extent of agreement among raters. Advanced Analytics LLC.
Hoque, M. E; Hashim, N. M. H. N & Azim, M. H. B (2018). “Moderating effects of marketing communication and financial consideration on customer attitude and intention to purchase Islamic banking products: A conceptual framework”. Journal of Islamic Marketing, 9: 799-822.
Hughes, M; Hughes, P; Morgan, R. E; Hodgkinson, I.R & Lee, Y (2021). “Strategic entrepreneurship behavior and the innovation ambidexterity of young technology-based firms in incubators”. International Small Business Journal, 39(3): 202-227.
Izzo, M. F; Ciaburri, M & Tisccini, R (2020). “The challenge of sustainable development Goal Reporting: The first evidence from thalian listed companies”. Sustainability, 12(8): 3494.
Kalabi, A. (1400). "Designing a model of entrepreneurial strategic renewal in media organizations", scientific quarterly of interdisciplinary studies of communication and media, 4 (13): 123-145.
Kalabi, A. (1401). "Strategic innovation in entrepreneurship with research combination method", Entrepreneurship Development Quarterly, 15 (1): 161-180.
Kantola, J; Liu, Y; Peura, P; de Leeuw, T; Zhang, Y; Naaranoja, M; Segev, A & Huisingh, D (2017). “Innovation products and services for sustainable societal development: Current reality, future potential and challenges”. Journal of Cleaner Production, 162: S1-S10.
Kantur, D (2016). “Strategic entrepreneurship: mediating the entrepreneurial orientation performance link”. Management Decision, 54(1): 24-43.
Ketchen, Jr. D. J. & Craighead, C. W (2020). “Research at the intersection of entrepreneurship, supply chain management, and strategic management: Opportunities highlighted by covid-19”. Journal of Management, 46(8): 1330-1341.
Khodaei, A., Rezaei, B., Del Anjian, S. (2017). "Effect of market turbulence on business model innovation", 6th national conference of modern studies and researches in the field of human sciences, management and entrepreneurship of Iran. Tehran, https://civilica.com/doc/866207.
Kock, A. & Gemünden, H. G (2021). how entrepreneurial orientation can leverage innovation project portfolio management (IPPM).
Lekovic, B & Bobera, D (2018). “Use of latest technologies as a mediator between entrepreneurial aspiration and open innovation development”. engineering economics, 29(2): 205-214. 
Mardani Shahr Babak, M., Solati, Sh. (2019). Development of a strategic entrepreneurship model with a focus on key competence in the organization, Industrial Technology Development Quarterly, 18 (41): 12-3.
Nazaifi, S., Shujaei, S., Maksati, M.R. (2019). Presenting the entrepreneurial banking model in Sepeh Bank with the foundation data approach, Future Management Research Quarterly, 2 (series 121) 
Obydenkova, A (2022). “Strategies and challenges of sustainable development in Eurasia”. Post-Communist Economies, 1-12.
Pratap, S. & Saha, B (2018). “Evolving efficacy of managerial capital, contesting managerial practices, and the process of strategic renewal”. Strategic Management Journal, 39(3): 759-793.
Qui, T (2022). “The effects of opportunity motivation and environmental contingencies on market growth strategies of African early – stage entrepreneurs”. Market growth strategies of entrepreneurs.
Rostami, M., Azar, A., Dehghan Neiri, M. (2018). "Designing a dynamic model of cost analysis in the banking industry, Quarterly Journal of Financial Studies and Islamic Banking", 5 (Autumn and Winter): 1-28.
Schröder, K; Tiberious, V; Bounken, R. B & Kraus, S (2022). “Strategic entrepreneurship: mapping a research field,” International Journal of Entrepreneurial Behavior & Research.
Shahramfar, Sh., Alam Tabriz, A., Zandhasami, H., Sakhdari, K. (2019). "Presentation of strategic entrepreneurship model in public institutions (case study: municipalities of Qazvin province)", Scientific Quarterly of Economics and Urban Management, 34 (9): 1-8.
Shirmohammadi, Y., Azaasi, M. A. (2019). "Designing a strategic entrepreneurship model in the tourism industry", Journal of Tourism and Development Research, 9 (3): 1-6.
Talebi, K., Sakhdri, K., Tazike, M. (2018). "How to create strategic entrepreneurship for the growth of businesses in Iran's food industries", two quarterly innovation and value creation, 14 (7): 1-20.
Warner, K. S. & wäger, M. (2019). “Building dynamic capabilities for digital transformation: An ongoing process of strategic renewal”. Long Range Planning, 52(3): 326-349.
Zhao, E. Y; Ishihara, M & Jennings, P. D (2020). “Strategic entrepreneurship’s dynamic tensions: Converging (diverging) effects of experience and networks on market entry timing and entrant performance”. Journal of Business Venturing, 35(2): 105933.
Volume 3, Issue 4
Winter 2023
Pages 56-69

  • Receive Date 16 April 2022
  • Revise Date 28 June 2022
  • Accept Date 05 September 2022