Business model innovation, digital organizational culture, and bank performance: The role of digital technologies and top management mindfulness

Abstract

Digital technologies have changed our lives. This digital move is not limited to a particular area or a sector. It has also changed the way of doing business, but the opportunities associated with this digitalization are not yet appropriately identified. Appropriate action to respond to new avenues can substantially change business performance. This research presents a framework that suggests that the development of digital organizational culture and innovation in business models support digital technology value development and digitization, ultimately improving business performance. The collected data from banks working in Pakistan were analyzed with smart PLS. The results revealed that business model innovation, business digitization, and top management mindfulness boost the banks' performance. In contrast, digital organizational culture and digital technologies value development have no association with bank performance. Further, top management mindfulness has no moderating effect on studied relationships. By adopting innovation and necessary developments, banks can improve their performance significantly.