ABSTRACT
In developing countries, banks have been looking out for new ways to improve their performance using digital transformation. This research bases itself on critical methodology, in which, a Data Analytics Lifecycle based on the Design Thinking concept (DAL-DT) has been used to support management control systems, and propose ways to optimise employee incentives, capital budgeting, workforce planning systems, in the context of a commercial bank in Vietnam. In addition, our study also examines the organisational actors engaged in the application of DT initiatives through the social practice theoretical lens of Bourdieu, regarding habitus, capitals, and fields. The results reveal that although DAL-DT, in principle, provides effective strategic plans along with a cohesive corporate culture that supports the implementation of DT initiatives, there are some constraints to this innovative reform. For instance, the top management of commercial banks in developing nations seem to display a lack of willingness and misunderstanding of the concept of DT, add to that the lack of suitable resources coupled with over-expectations.
Disclosure statement
No potential conflict of interest was reported by the author(s).
Additional information
Funding
Notes on contributors
Anh Huu Nguyen
Anh Huu Nguyen is an Associate Professor at the School of Accounting and Auditing, National Economics University, Hanoi, Vietnam. His research focuses on financial innovation, financial management, and management accounting. His work has been published widely in many international journals such as the European Journal of Development Research, Business Strategy and the Environment.
Thinh Gia Hoang
Thinh Gia Hoang is a Senior Researcher at the Institute of Economics and Strategic Management, Hanoi, and an Associate Lecturer at the School of Business and Management, RMIT University, Vietnam. His research focuses on the acceptance of new technologies, green technology transfer, financial innovations, and sustainability. His work has been published widely in many international journals, and books such as Business Strategy and the Environment, Technological Forecasting and Social Change, Service Business, The Routledge Companion to Accounting Information Systems, and The Palgrave Handbook of Corporate Social Responsibility. He also serves as an editorial member for The SAGE Handbook of Qualitative Research in the Asian Context.
Loan Quynh Thi Nguyen
Loan Thi Quynh Nguyen is a lecturer at National Economics University, Hanoi, Vietnam. Her research focuses on banking and finance, financial accounting, and financial innovation. Her work has been published widely in many international journals, including Technological Forecasting and Social Change, International Journal of Organizational Analysis and International Journal of Managerial Finance.
Hong Minh Thi Pham
Hong Minh Thi Pham is a lecturer at the School of Accounting and Auditing, National Economics University, Hanoi, Vietnam. Her research focuses on accounting, financial management, and management accounting.