Design thinking-based Data Analytic Lifecycle for improving management control in banks.

In developing countries, banks have been looking out for new ways to improve their performance using digital transformation. This research bases itself on critical methodology, in which, a Data Analytics Lifecycle based on the Design Thinking concept (DAL-DT) has been used to support management control systems, and propose ways to optimise employee incentives, capital budgeting, workforce planning systems, in the context of a commercial bank in Vietnam. In addition, our study also examines the organisational actors engaged in the application of DT initiatives through the social practice theoretical lens of Bourdieu, regarding habitus, capitals, and fields. The results reveal that although DAL-DT, in principle, provides effective strategic plans along with a cohesive corporate culture that supports the implementation of DT initiatives, there are some constraints to this innovative reform. For instance, the top management of commercial banks in developing nations seem to display a lack of willingness and misunderstanding of the concept of DT, add to that the lack of suitable resources coupled with over-expectations. [ABSTRACT FROM AUTHOR]