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Journal Article

Knowledge as a Foundation of Resilience on Polish Banking Market  pp58-72

Monika Klimontowicz

© Mar 2016 Volume 14 Issue 1, Special Issue on Is KM in Decline?, Editor: Andrea Garlatti and Maurizio Massaro, pp1 - 88

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Abstract: During the last few decades, banking market has changed significantly. Systematically increasing the complexity of new technology, development of information and communication’s techniques, economy’s networking, globalization and growth of customers’ expectations combined with regulatory requirements make banks face new challenges. The most crucial of them is answering the question how to meet regulatory requirements (remain stable) and develop market performance (obtain a competitive advantage and gain profits). As a result, the concept of resilience must accommodate and balance the public interest focused on safety with individual bank’s aims focused on value’s creation, market position and profits. Defining the foundation for banking market resilience needs discussing these contradictory aspects. It is especially important as banks play a special role in society. They are crucial in financing the economy, settling payments and providing products that allow other entities to manage their financial risk and to develop their market activity. The resilience of the banking market influences not only financial system stability but the sustainable economic growth and the economy as a whole. That is why regulatory schemes should support it. On the other hand, creating value for customers and other stakeholders makes bank to keep customer experience and wider brand perceptions central to all strategic thinking. Meeting customers’ needs and expectations requires flexibility, creativity, and innovativeness what today quite often means taking a risk. Thus, a resilient banking sector should create the conditions for the integration of safety and competitiveness. The purpose of the article is to define knowledge factors that influence resilience on banking market, from both perspectives. The paper presents the theoretical foundations for banking market resilience concept, knowledge factors used to establish resilience on Polish banking market and their impact on the banking sector and main challenges facing the Polish banking sector in the nearest future.


Keywords: Keywords: banks’ resilience, banks’ stability, banks’ efficiency, knowledge flows


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