Improving productivity of a financial firm: business model evolution in the Caribbean

Parker, David and Lawrence, William W. (2021) Improving productivity of a financial firm: business model evolution in the Caribbean. International Journal of Productivity and Performance Management, 70 (2). pp. 277-296. ISSN 1741-0401

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Abstract

Purpose – This study explores the role of business model as a state variable during transformation of a
financial institution to become a multinational enterprise. Prior studies of the Uppsala model overlooked
business model evolution for cross-border productivity and performance.
Design/methodology/approach – The research design employs the resource-based view for an in-depth
case study of JMMB, a family-managed Jamaica-based financial firm, using data from primary and secondary
sources, covering the period 1992 to 2014.
Findings – JMMB’s business model was the channel through which resources and capabilities gave rise to an
innovative product for successful positioning in an international network. This was augmented by strong
family orientation toward customer service, a distinctive asset that shaped the nature and trajectory of the
business model. Cross-border alliancing and risk management were crucial dynamic capabilities for replicating
the business model in foreign markets.
Research limitations/implications – While the observations are not generalizable to other firms, they
indicate that a business model is a key unit of analysis for understanding how the firm makes the transition to
become a multinational enterprise.
Practical implications – Financial institutions may internationalize in a small island, developing stages
through a strategy of focused product differentiation based on disruptive innovation with cross-border
partnerships for ease of market entry and experiential learning.
Social implications – The research has identified opportunities for effective and efficient work methods in
pursuit of productivity gains.
Originality/value – The study is the first to illustrate business model as a state variable in the Uppsala model
of multinational enterprise evolution for a financial firm.

Item Type:	Journal Article
Subjects:	H Social Sciences > HG Finance
Divisions:	School of Business and Management (SBM)
Depositing User:	David Parker
Date Deposited:	27 Sep 2021 00:19
Last Modified:	27 Sep 2021 00:19
URI:	https://repository.usp.ac.fj/id/eprint/13017

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• Improving productivity of a financial firm: business model evolution in the Caribbean. (deposited 21 Sep 2021 02:29)
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