An exploratory examination of the barriers to innovation and change as perceived by senior management

Abstract

The banking industry has undergone significant shifts as innovations have enabled new banking services and created new customer requirements. While banks strive to incorporate innovation and change systems, they also face various obstacles. The primary aim of this qualitative exploratory case study is to determine the key perceived barriers to change and innovation in a Jordanian commercial case bank from the perspective of senior management. Nuanced interpretations were investigated, resulting in new insights that have not been previously obtained from research in this field. The analysis used a qualitative systematic approach to grounded theory articulation that inductively generated new concepts while adhering to highly rigorous standards. The methodology was based on interviews with eight senior managers. The emergent findings revealed that high bureaucracy, lack of communication, lack of employee involvement, middle managers' resistance, and risk aversion were major barriers to innovation and change. Overall, this study contributes to developing a thorough understanding of top managers' perceptions of barriers to innovation and change and offers managers and practitioners guidance on improving organizational conditions to support innovation and change in the banking industry. Finally, this study provides avenues for future research in this area.

Keywords

• Innovation
• Change
• Formalized organizations
• Senior management
• Qualitative research