Business Technology Forecasting & Strategic Positioning in the new digital era
There is a rapidly growing interest in new technological innovations, which have lead to the conversion of traditional, established business models in many industries. Across, the world-wide banking sector, the current implication of technological innovation is concerning, among others, a fundamental change in the established payment services. This dissertation will investigate the technological initiative of contactless mobile payments and the strategic imperative for banking institutions to address the challenge of forecasting the timeline of its future adoption. Furthermore, the strategic positing of banks in the new business landscape will be examined and a number of alternatives scenarios will be presented. The analysis will be based on the integration of the existing business literature review on the subjects of technology forecasting and strategic positioning of corporations in the new technology market. The Marketing Engineering for Excel software will be used to run forecasting analysis and information collected from published resources will be analyzed to draw conclusions on a qualitative level about bank’s alternative paths of strategic positioning in the future NFC mobile payment market. The dissertation will conclude that banks should harness the upcoming evolution in payments innovation and develop optimal strategic initiatives for strengthening their traditional role at payment into the new digital payment era. I would like to express my thanks to my professor Dr. Dimitrios Karalekas for all the input and valuable advisory, during the dissertation development and for always being on hand to provide helpful comments. I am also very grateful to the Course Office of School of Economics, Business Administration & Legal Studies of IHU for giving me the opportunity to work more extensively for the purposes of this dissertation.