Co-Creation of Shared Value in Open Innovation for Sustainability: Banking Industry in Oman

The objectives of the current research are to examine the effect of organizational antecedents; namely openness for innovation, organization structure, knowledge management system, IT resources, absorptive capacity on co-creation of shared value in open innovation for sustainability and digital financial innovation. Further, it aims to study the effect of co-creation of shared value in open innovation for sustainability on digital financial innovation of banking industry in Oman. To achieve the objectives of this research, the study will employ both qualitative and quantitative methods. In the qualitative method interviews, focus group discussion, and literature review will be carried out. Moving next, as part of the quantitative research method the study will also carry out cross sectional surveys among the bank managers in the Sultanate of Oman with structured questionnaires and run the analysis with statistical software. This research is expected to have several important implications to the banking industry in Oman. Open innovation is currently of interest to practitioners and academicians. Thus, the study will offer a contextualized conceptual model that can contribute to the banking industry in Oman in the area of innovation practices. The model can be used to formulate policies for the banking industry and other stakeholders by the Central Bank of Oman and the Ministry of Finance, who are deeply engaged in prospering innovation practices for sustainability in the banking industry.