Joachim Stocker, Nils Herda and Jan Jürjens
Enterprises often face a wide variety of adverse events. Adverse events can have negative effects on organizations like failures of resources. In case resources fail, they are not…
Abstract
Purpose
Enterprises often face a wide variety of adverse events. Adverse events can have negative effects on organizations like failures of resources. In case resources fail, they are not available and cannot perform the assigned work. Enterprises are therefore especially interested in how resilient processes and workflows are in case adverse events occur and resources may fail. For this purpose, process resilience measurement approaches are needed.
Design/methodology/approach
To measure the resilience of processes and workflows, a life cycle and five quantitative metrics have been developed. The metrics have been validated using five real-world production and logistics cases to show their applicability on process models and paths. Furthermore, workshops have been conducted with professionals to get additional feedback on the contributions.
Findings
Based on the results obtained from applying the metrics to five real-world cases, view-based resilience improvements can be derived. Overall, only one of the five real-world cases can be considered as completely resilient. Furthermore, the metrics and life cycle have been especially valued by professionals with respect to transparency, independency, comparability as well as the ability to determine critical process paths.
Originality/value
Several authors have dealt with different aspects related to the measurement of business processes, resilience or a combination thereof. However, a life cycle or metrics to quantitatively measure the resilience of processes by considering resources has not been found yet. The life cycle and metrics are therefore novel. As a future research direction, they can be applied in different domains for further validation purposes.
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Harrison Stewart and Jan Jürjens
The purpose of this study is to empirically analyse the key factors that influence the adoption of financial technology innovation in the country Germany. The advancement of…
Abstract
Purpose
The purpose of this study is to empirically analyse the key factors that influence the adoption of financial technology innovation in the country Germany. The advancement of mobile devices and their usage have increased the uptake of financial technology (FinTech) innovation. Financial sectors and startups see FinTech as a gateway to increase business opportunities, but mobile applications and other technology platforms must be launched to explore such opportunities. Mobile application security threats have increased tremendously and have become a challenge for both users and FinTech innovators. In this paper, the authors empirically inspect the components that influence the expectations of both users and organizations to adopt FinTech, such as customer trust, data security, value added, user interface design and FinTech promotion. The empirical results definitely confirm that data security, customer trust and the user design interface affect the adoption of FinTech. Existing studies have used the Technology Acceptance Model (TAM) to address this issue. The outcomes of this study can be used to improve the performance of FinTech strategies and enable banks to achieve economies of scale for global intensity.
Design/methodology/approach
In this paper, the authors empirically consider factors that influence the expectations of both users and organizations in adopting FinTech, such as customer trust, data security, value added, the user design interface and FinTech promotion. The results confirm that customer trust, data security and the user design interface affect the adoption of FinTech. This research proposes a model called “Intention to adopt FinTech in Germany,” constructs of which were developed based on the TAM and five additional components, as identified. The outcomes of this study can be used to improve the performance of FinTech strategies and enable banks to achieve economies of scale for global intensity.
Findings
The authors demonstrated that the number of mobile users in Germany is rapidly increasing; yet the adoption of FinTech is extremely sluggish. It is intriguing to reckon that 99 per cent of respondents had mobile devices, but only 10 per cent recognized FinTech. Further, it is significantly discouraging to perceive that only 10 of the 209 respondents had ever used FinTech services, representing under 1 per cent of the surveyed respondents. It is obvious that the FinTech incubators and banks offering FinTech services need to persuade their customers regarding the usefulness and value added advantages of FinTech. This study has been carried out to determine the key factors that influence and provoke FinTech adoption.
Research limitations/implications
There are a few limitations in this study. Initially, this study focuses on FinTech implementation in Germany and not the whole of Europe. In addition, demographic and regional factors could be consolidated to inspect their particular impact on the intention to use FinTech services, particularly among younger users with a high interest in technology. Without these constraints, the authors could have gathered additional data for a more robust result and obtained new knowledge to further upgrade polices to enhance the FinTech adoption process. Future analysts can assist exploration of this topic by altering determinants in the unified theory of acceptance and use of technology model. Additionally, because the cluster sampling technique was used, the reported outcomes are not 100 per cent generalized to the German population. To accomplish a complete generalization, a basic random sampling strategy for the whole population is essential. The authors could also alleviate some limitations by examining how online vendors are performing with regard to FinTech to satisfy the needs of customers via case studies.
Practical implications
This study was conducted in Germany and might have produced different results if held in other countries, as technology acceptance is different in a different environment. For instance, the authors suspect that the results would be somewhat different, were the research to be conducted in the United Kingdom, where take-up of FinTech appears to be far greater than in Germany. Therefore, the authors’ results are only generalized for the country of Germany and not other geographical areas. Furthermore, respondents may have been influenced by past experiences about FinTech usage which might have led them to neglect to answer some questions. In spite of this, this study did not consider the influence of moderating variables such as age, education and FinTech services experience. The authors also neglected social impact and control factors, as their corresponding items disregarded the instrument dependability. Accordingly, the authors could not quantify social impact and control factors on FinTech use.
Social implications
The outcomes of this study can be used to improve the performance of FinTech strategies and enable banks to accomplish economies of scale for global intensity. The authors do hope that this paper will serve to encourage FinTech innovators in their approach to FinTech and enable FinTech researchers to use past work with more prominent certainty, resulting in rigid hypothesis improvement in the future.
Originality/value
A considerable amount of revenue has been invested in the information technology (IT) infrastructure of banks to enhance their performance, but investment in IT remains a substantial risk regarding the return on investment (Carlson, 2015). Most banks and financial organizations around the globe are engaging in an extreme pressure from their customers and competitors to enhance IT.
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Harrison Stewart and Jan Jürjens
The aim of this study is to encourage management boards to recognize that employees play a major role in the management of information security. Thus, these issues need to be…
Abstract
Purpose
The aim of this study is to encourage management boards to recognize that employees play a major role in the management of information security. Thus, these issues need to be addressed efficiently, especially in organizations in which data are a valuable asset.
Design/methodology/approach
Before developing the instrument for the survey, first, effective measurement built upon existing literature review was identified and developed and the survey questionnaires were set according to past studies and the findings based on qualitative analyses. Data were collected by using cross-sectional questionnaire and a Likert scale, whereby each question was related to an item as in the work of Witherspoon et al. (2013). Data analysis was done using the SPSS.3B.
Findings
Based on the results from three surveys and findings, a principle of information security compliance practices was proposed based on the authors’ proposed nine-five-circle (NFC) principle that enhances information security management by identifying human conduct and IT security-related issues regarding the aspect of information security management. Furthermore, the authors’ principle has enabled closing the gap between technology and humans in this study by proving that the factors in the present study’s finding are interrelated and work together, rather than on their own.
Research limitations/implications
The main objective of this study was to address the lack of research evidence on what mobilizes and influences information security management development and implementation. This objective has been fulfilled by surveying, collecting and analyzing data and by giving an account of the attributes that hinder information security management. Accordingly, a major practical contribution of the present research is the empirical data it provides that enable obtaining a bigger picture and precise information about the real issues that cause information security management shortcomings.
Practical implications
In this sense, despite the fact that this study has limitations concerning the development of a diagnostic tool, it is obviously the main procedure for the measurements of a framework to assess information security compliance policies in the organizations surveyed.
Social implications
The present study’s discoveries recommend in actuality that using flexible tools that can be scoped to meet individual organizational needs have positive effects on the implementation of information security management policies within an organization. Accordingly, the research proposes that organizations should forsake the oversimplified generalized guidelines that neglect the verification of the difference in information security requirements in various organizations. Instead, they should focus on the issue of how to sustain and enhance their organization’s compliance through a dynamic compliance process that involves awareness of the compliance regulation, controlling integration and closing gaps.
Originality/value
The rapid growth of information technology (IT) has created numerous business opportunities. At the same time, this growth has increased information security risk. IT security risk is an important issue in industrial sectors, and in organizations that are innovating owing to globalization or changes in organizational culture. Previously, technology-associated risk assessments focused on various technology factors, but as of the early twenty-first century, the most important issue identified in technology risk studies is the human factor.
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Stefan Taubenberger, Jan Jürjens, Yijun Yu and Bashar Nuseibeh
In any information security risk assessment, vulnerabilities are usually identified by information‐gathering techniques. However, vulnerability identification errors – wrongly…
Abstract
Purpose
In any information security risk assessment, vulnerabilities are usually identified by information‐gathering techniques. However, vulnerability identification errors – wrongly identified or unidentified vulnerabilities – can occur as uncertain data are used. Furthermore, businesses' security needs are not considered sufficiently. Hence, security functions may not protect business assets sufficiently and cost‐effectively. This paper aims to resolve vulnerability errors by analysing the security requirements of information assets in business process models.
Design/methodology/approach
Business process models have been selected for use, because there is a close relationship between business process objectives and risks. Security functions are evaluated in terms of the information flow of business processes regarding their security requirements. The claim that vulnerability errors can be resolved was validated by comparing the results of a current risk assessment approach with the proposed approach. The comparison is conducted both at three entities of an insurance company, as well as through a controlled experiment within a survey among security professionals.
Findings
Vulnerability identification errors can be resolved by explicitly evaluating security requirements in the course of business; this is not considered in current assessment methods.
Originality/value
It is shown that vulnerability identification errors occur in practice. With the explicit evaluation of security requirements, identification errors can be resolved. Risk assessment methods should consider the explicit evaluation of security requirements.
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The paper intends to comprehend the pattern of usage of FinTech services among bank customers during the COVID-19 pandemic. The paper also examines the factors influencing the…
Abstract
Purpose
The paper intends to comprehend the pattern of usage of FinTech services among bank customers during the COVID-19 pandemic. The paper also examines the factors influencing the adoption of FinTech services by using the constructs from the technology acceptance model (TAM) together with highlighting the issues faced in using FinTech services in Assam.
Design/methodology/approach
The research is empirical in nature. Data have been collected from 1,066 prime earners of the households having a bank account.
Findings
There has been an upsurge in the use of FinTech services in the area of study. Apart from government and private service employees, businessmen, self-employed professionals, many daily-wage earners and agriculturists have also experienced an increase in their frequency of usage of FinTech services thereby making technology-based financial services an indispensable tool in enhancing access, improving inclusivity in the times of crisis and aftermath. Government support, trust, perceived usefulness (PU), attitude and social influence have a positive influence on FinTech adoption; however, perceived risks impact respondents’ trust towards FinTech services thereby requiring necessary measures to evaluate organizations’ preparedness to deal with cyber threats.
Originality/value
The paper provides insight into the factors impacting the adoption of FinTech services to stimulate superior connectivity infrastructure, robust security measures and maintaining financial stability with adequate supervisory and monitoring regulations to enhance trust towards FinTech services during the crisis and aftermath.
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Jude Jegan Joseph Jerome, Disha Saxena, Vandana Sonwaney and Cyril Foropon
The pandemic crisis has resulted in global chaos that had caused massive disruption to the supply chain. The pharmaceutical industry, in particular, has been working tirelessly to…
Abstract
Purpose
The pandemic crisis has resulted in global chaos that had caused massive disruption to the supply chain. The pharmaceutical industry, in particular, has been working tirelessly to ensure that they can cater to the people who need them. With restrictions being imposed to prevent the spread of the COVID-19 virus, the movement of raw materials required has been affected, thus creating the need for the procurement function to be innovative. This study proposes the application of Industry 4.0 concepts into the procurement activities of an organization to make it more resilient and efficient.
Design/methodology/approach
To study the intensity of the challenges, Total Interpretive Structural Modelling is used alongside the “Matrice des Impacts Croises Multiplication Appliquee a un Classement” (MICMAC) technique.
Findings
Resilience can be achieved through the collaboration between the organization and its network of suppliers. This is however easier said than done. High and unclear investments have been identified as the challenge that is taking a toll on all technological investments in the pandemic era. The study also shows that organizational inertia which is present in established and structured firms are a deterrent as well.
Originality/value
This study is based on the application of procurement 4.0 to ensure that pharmaceutical supply chains stay least affected since they are essentials. This study using a multi-criteria decision-making approach to prioritize the challenges. This will help practitioners make decisions faster.
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Thong Quoc Vu and Malik Abu Afifa
This study aims to investigate the factors affecting technological innovation intentions at banks listed in Vietnam, a developing country, to develop business activities and…
Abstract
Purpose
This study aims to investigate the factors affecting technological innovation intentions at banks listed in Vietnam, a developing country, to develop business activities and accounting benefits according to the trend of the 4th Industrial Revolution.
Design/methodology/approach
To collect and analyze the data for this study, qualitative and quantitative methods were used. Specifically, 20 finance and banking experts and 45 managers in the field of information technology were interviewed in qualitative research over a period of three months. Then, 1,000 questionnaires were sent to banks within six months, with the final sample for quantitative research being 324 respondents. Finally, the structural equation modeling (SEM) was used to check the hypotheses. Regarding the tools used, the qualitative study used a semistructured questionnaire to collect information. Meanwhile, SPSS software was used to analyze quantitative research information, including checking common method bias, nonresponse bias, evaluating scale quality and checking SEM.
Findings
The findings show that the usefulness, ease of application, credibility, innovation and efficiency of technology have certain impacts on technological innovation intentions at banks listed in Vietnam. Using the SEM analysis, the results showed that the five factors had a favorable influence on the technological innovation intentions. More specifically, this study proposed adding an efficiency factor, and the results showed that it has the greatest impact on technological innovation intentions.
Research limitations/implications
This study would be considered a continuation of prior studies because it provides empirical evidence for business models at banks listed in developing countries (for example, Vietnam) and so provides useful advice for bank management not only in Vietnam but across Asia. In fact, bank managers should consider introducing new technology as appropriate to make their reports more clear and up-to-date, therefore improving their performance. Banking managers, in particular, should focus on enhancing the bank’s application technology indicators to obtain a competitive edge.
Originality/value
This is a pioneering study that uses a combination of the reasoned action theory, planned behavior theory, transaction cost theory and unified theory of acceptance and use of technology to expand knowledge about technological innovation intentions at listed banks in the context of a developing country. The study also discovered and added the efficiency factor as a key factor affecting the intention to innovate technology at listed banks. These contribute to improving the literature of technological innovation intentions.