The Role of Sustainability and Innovation in Financial Services Business Transformation

Saeed Mousa and Taoufik Bouraoui
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Saeed Mousa: ESC Rennes School of Business - ESC [Rennes] - ESC Rennes School of Business
Taoufik Bouraoui: ESC Rennes School of Business - ESC [Rennes] - ESC Rennes School of Business

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Abstract: Purpose: This study discusses the effects of transformative service in the financial sector. Unlike conventional research, it reports how business transformation can play a vital role in human well-being. The main objective is to reveal how financial services can affect the welfare of people, communities, regions, and worldwide perspectives. Design/Methodology/Approach: The study used Confirmatory factor analysis and Structural Equation Modeling using SPSS (Amos). Findings: While appreciating the role of consumers as agents of service-driven business transformation, the study demonstrates how service transformation can promote an ecosystem that helps to accomplish rising sustainability goals. Originality: The main focus was to explain how social and environmental sustainability, responsible consumption and innovativeness are related to a firm's attractiveness, value creation and customer satisfaction. Research Limitations: This study uses a cross-sectional survey design and it doesn't have a holistic approach for all stakeholders. Predominantly, it considers the customer as a change agent in business transformation. Practical Implications: The study discusses a broader customer perspective instead of an extremely narrow and limiting traditional dyadic firm-customer perspective. It can enhance responsible production and consumption. It develops a comprehensive framework to help academicians, service leaders, and policymakers to recognize and solve service systems' unsustainability. Social Implications: The research contributes to addressing, understanding, upgrading, and integrating the financial service system for business transformation, which can positively influence individuals and collectives. Source : editor.

Date: 2023
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Published in Theoretical Economics Letters, 2023, 13 (01), pp.84-108. ⟨10.4236/tel.2023.131005⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03997020

DOI: 10.4236/tel.2023.131005

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