Can small banks lead the way out of the crisis in the OECD area

Abstract

The economic shock of 2008, and the Great Recession that followed, created uncertainty of the direction of the global economy. With slow economic growth in the OECD area, political unrest and lack of a clear direction from academics there is a need for new organizational models helping executives out of the financial crisis. The article illustrates how small banks can achieve a competitive advantage by focusing on economic growth through radical innovations by using tacit knowledge in a marketing context. Such an entrepreneurial orientation will, in turn, lead to tailoring of services which will, we argue, lead to growth in the banking industry in the OECD area. We claim that small banks are leading the way in the race for innovation and an entrepreneurial orientation.