Designing Innovation Excellence Model in Banking and Monetary Institutions of Islamic Republic of Iran

This paper has been compiled with the aim of presenting the innovation management excellence model in Iranian banks, in which while identifying the core values of innovation excellence, criteria for evaluating innovation performance and improvement planning in this field are presented.

The mixed method has been used in this research. In the qualitative part, the grounded theory method was used, and in the quantitive part, structural equation modeling was used. Qualitative instrument included interviews with banking industry experts but the researcher-made questionnaire as used as the quantitive data collection instrument.

Innovative leadership, Intellectual capital management, information technology management, market and customer management, innovation opportunity management, innovation process management and innovation results are the main components of the innovation management model in banking institutions. Sub-criteria related to each of the criteria of the excellence model are also identified and the final innovation excellence model is presented.

The results of this paper can help banks and financial and credit institutions in evaluating of effective components in innovation management and provide the necessary basis for designing current improvement measures.