This is an MBA research about Implementing SAMA Guidelines to Achieve Business Sustainability at ASSSCO in Saudi Arabia. Here is the introduction and literature review. "Chapter 1: Introduction


Background of the topic
Saudi Arabia has one of the world's strongest economies, and ranked seventh among the G20 countries. There is a considerable impact left by the economy on multiple sectors including the services sector. The financial services industry, particularly banking and cash management services, contributes heavily too the Kingdom's economy. In this context, ASSSCO, a private financial services company, provides cash management services to banks, private companies, and government organizations. In order to increase the efficiency of cash management services and achieve business sustainability, ASSSCO needs to adhere to the guidelines set by the Saudi Arabian Monetary Authority (SAMA).
The primary focus of this research is to explore the challenges faced by ASSSCO and possible opportunities ASSSCO has in implementing SAMA’s guidelines, specifically in establishing Multi-Bank Cash Centers (MBCCs) throughout Saudi Arabia. The research also emphasizes the importance of aligning ASSSCO’s services with SAMA’s guidelines, the impact on the company’s operations, finances, and growth, and the implications for the banking and financial sector.


1.1 Background Information
ASSSCO is a leading private security services company that offers manned guarding and cash logistics services in Saudi Arabia. Established in 1984, it has grown substantially over the years by providing a variety of services, which include Security solutions, cash in transit, ATM replenishment and maintenance, Facility Management, and more. ASSSCO has gained significant experience in cash logistics and strict compliance with SAMA’s regulations. The company ensures the stability and soundness of its operations by applying strict corporate governance practices that maintain efficient oversight, risk management, and internal controls and prioritizing information security and cybersecurity measures.
1.2 Research Rationale
This research is crucial and timely as the implementation of MBCCs can have significant implications for various stakeholders, including the banking industry, private sector companies like ASSSCO, and government organizations. It aims to provide valuable insights into business sustainability concerning cash management services in Saudi Arabia. By examining SAMA’s guidelines and their impact on ASSSCO’s operations, the research can offer a better understanding of the challenges and opportunities associated with implementing MBCCs.
1.3 Problem Questions
The research addresses the following problem questions:
- What are SAMA’s new guidelines for cash logistics companies in Saudi Arabia, and how do these affect ASSSCO’s operations?
- How can ASSSCO effectively establish and manage MBCCs in selected cities across Saudi Arabia, in line with SAMA’s directives? What challenges and opportunities may arise during their implementation?
- What impact will the adoption of SAMA’s guidelines and the establishment of MBCCs have on the long-term sustainability and growth prospects of ASSSCO in the cash management industry?
1.4 Research Intent
The research aims to achieve business sustainability for ASSSCO by implementing SAMA’s new guidelines and establishing its own MBCCs across Saudi Arabia. By focusing on the close relationship between the service sector, the banking industry, and cash management services provided by ASSSCO, the study seeks a deeper understanding of the challenges and opportunities in establishing MBCCs.
1.5 Research Methods
This study will adopt a qualitative approach to answer the research questions. Multiple case studies will be conducted, analyzing the implementation of SAMA’s guidelines by private security and cash services companies like ASSSCO in Saudi Arabia. A combination of primary and secondary data collection methods will be used, including interviews with relevant stakeholders, a review of documents and guidelines issued by SAMA, analysis of internal reports, and an examination of relevant literature. The gathered data will be analyzed using thematic analysis, seeking patterns and themes related to the challenges, opportunities, and implications of establishing MBCCs.

Chapter 2- LITERATURE REVIEW

The literature review is very descriptive. Please make sure you are not explaining on the topic and its elements. You must mention what various journals, discuss on your research topic.   You have to mention and critically analyse those literature review. Request you to kindly amend the same as your grades are dependent on literature review. Please doo rework and not showcase the stages  or steps. 

Chapter 2 : Literature Review 
Introduction
Theoretical approach that is adopted In the Current Literature
Theory
Model Literature Stream
Methodologies Literature Stream
Summary of Literature Findings 
Limitations of the Literature
Research Replication Towards Research Question 
Conclusion
2.1 Introduction
The research aims to address the company’s challenges and the need for a new approach in the cash logistics sector. This involves establishing multi-bank cash centers to offer a range of cash management services, including money and cash transfers, precious metals and valuable document transfers, ATM management and replenishment, cash sorting and processing, and cash treasury and financial settlement management. The MBCC project also aims to expand electronic payment services to keep pace with the Kingdom’s progress and digital transformation.

The purpose of this literature review is to critically examine the existing research on the factors affecting the establishment of Multi-Bank Cash Centers (MBCCs) and their relevance to the cash logistics sector. The review will cover the theoretical approach adopted in the current literature, the theories and models discussed in the literature, the methodologies employed in these studies, and a summary of the literature findings. The limitations of the existing literature and the potential for research replication towards the research question are also discussed.

2.2 Theoretical Approach in the Current Literature

The theoretical approach adopted in the current literature on MBCCs largely focuses on the operational efficiency of cash logistics, the role of technology in cash management, and the strategic management of cash resources.

In the realm of operational efficiency, several studies examine the impact of centralized cash management systems on cost savings, process improvements, and the effectiveness of cash management practices (Carvalho and Sobreiro, 2016; Lai, 2017). This research emphasizes the importance of efficient cash logistics in facilitating the flow of cash and reducing operational risks and costs.

Regarding technology, the literature highlights the significance of embracing digitization in the cash logistics sector. The implementation of advanced technological solutions, including internet banking, mobile transactions, electronic wallets, and automated systems, has been linked to improvements in service provision, customer satisfaction, and operational productivity (Stulz, 2019; Wenzel, 2018).

Lastly, strategic management of cash resources is another important aspect discussed in the literature. This includes the development of comprehensive cash management strategies and effective decision-making in meeting the evolving needs of the banking and services sectors (Bossone and Honohan, 2002; Prager, 2011).

2.3 Theory

The existing literature on MBCCs and cash logistics, in general, is rooted in three main theories: operations management, technological innovation, and strategic management.

Operations management theory focuses on the efficiency and effectiveness of business processes. In the context of cash logistics, this theory emphasizes the importance of efficient cash handling, processing, and transportation to minimize costs and optimize performance (Thaçi and Vokshi, 2017).

Technological innovation theory posits that the adoption and incorporation of cutting-edge technology in business processes can lead to significant performance improvements and competitive advantages (Patel and Beyene, 2018). In relation to cash logistics, this theory underscores the role of digitization, automation, and other technological advancements in streamlining cash management processes and enhancing the quality of services provided by MBCCs.

Strategic management theory concerns the alignment of business objectives with the external environment and internal resources to facilitate sustainable growth and performance (López-Pérez et al., 2017). For MBCCs, this theory emphasizes the necessity of developing robust strategies to adapt to the changing needs of the cash logistics sector and to leverage internal resources for achieving operational excellence.

2.4 Model Literature Stream

Several models have been proposed in the literature to guide the establishment and operation of MBCCs. These models primarily focus on the cash management process, the integration of technology, and the development of strategic cash management practices.

For instance, the Cash Management Maturity Model (CMM) proposed by Gormley (2012) offers a framework for assessing the maturity level of an organization’s cash management practices and identifying areas for improvement. This model allows organizations operating in the cash logistics sector, such as MBCCs, to benchmark their practices against industry best practices.

Similarly, the Innovation Adoption Model (IAM) put forward by Rogers (2003) provides a theoretical framework for understanding the factors that influence the adoption and diffusion of technological innovations in organizations. The implementation of this model in the context of MBCCs can help cash logistics service providers to identify the factors that influence the adoption of technology-driven cash management solutions.

Lastly, the Strategic Alignment Model (SAM) articulated by Henderson and Venkatraman (1993) emphasizes the importance of aligning an organization’s strategic, operational, and technological goals with the demands of their environment. The application of SAM to the cash logistics sector can help MBCCs in developing strategies that cater to the evolving needs of their clientele and in leveraging their internal resources for optimal performance.

2.5 Methodologies Literature Stream

Different methodologies have been employed by researchers in investigating the various dimensions of cash logistics and MBCC operations. A common methodological approach in this field involves the use of quantitative research methods, such as surveys, to gather data from participants, including bank employees, cash logistics service providers, and other stakeholders.

These surveys typically use structured questionnaires to explore participants’ perceptions, attitudes, and experiences regarding cash management processes, technological advancements, and other factors influencing the cash logistics sector (Radcliffe and Voorhies, 2012; Woods et al., 2016).

In addition to surveys, some researchers employ case studies to provide in-depth analysis and insights into the cash logistics industry and the development of MBCCs (Arnone and Stulz, 2015; Lai, 2017). Furthermore, secondary data sources, such as annual reports, financial statement analysis, and industry benchmarks, have been used to evaluate and compare the performance of cash logistics companies and MBCCs across different operational and financial metrics (Carvalho and Sobreiro, 2016).

2.6 Summary of Literature Findings

Key themes that emerge from the literature findings include the critical role of operational efficiency, technological innovation, and strategic management in shaping the competitiveness, sustainability, and performance of MBCCs and the cash logistics sector more broadly.

In particular, the efficient handling, processing, and transportation of cash are identified as integral components of a well-functioning cash logistics system (Tthaçi and Vokshi, 2017). The incorporation of advanced technological solutions, such as digitization and automation, is also noted in the literature as critical in enhancing the quality and efficiency of cash management services (Patel and Beyene, 2018).

Additionally, the development of comprehensive cash management strategies and the alignment of business objectives with external and internal factors are identified as key components for achieving sustainable growth and performance for MBCCs (López-Pérez et al., 2017).

2.7 Limitations of the Literature

The literature on MBCCs and cash logistics is limited in several aspects. First, there is a dearth of empirical studies focusing specifically on the establishment and operation of MBCCs; much of the existing research tends to address cash logistics more broadly and does not provide in-depth analysis concerning the unique characteristics and challenges facing MBCCs.

Second, the literature is primarily descriptive and lacks rigorous methodological approaches to generate robust empirical evidence about the factors influencing the success or failure of MBCCs. Additionally, the generalizability of findings from the existing literature may be limited due to the small sample sizes employed in most research.

Lastly, much of the literature is heavily focused on the role of technology in cash logistics, with little consideration given to non-technological factors that may influence the performance of MBCCs, such as organizational culture, employee competencies, and regulatory environments.

2.8 Research Replication Towards Research Question

The literature review reveals that while there has been significant research on cash logistics and cash management, there is limited empirical evidence specifically related to the establishment and operation of MBCCs. Further research is needed to address this gap in order to inform decision-making processes for companies considering the establishment of MBCCs.

Additionally, future research should incorporate more rigorous methodologies, including both quantitative and qualitative data collection techniques, to generate robust empirical evidence on the factors influencing MBCC performance and sustainability. This research should also take into account the unique challenges facing MBCCs, such as regulatory requirements, market dynamics, and stakeholder expectations.

2.9 Conclusion

This literature review has provided an overview of the existing research on cash logistics and the establishment of Multi-Bank Cash Centers. The literature highlights the importance of operational efficiency, technological innovation, and strategic management in shaping the competitiveness and performance of MBCCs. However, the review also underscores the need for further empirical research specifically focused on the factors influencing the establishment and operation of MBCCs, employing rigorous methodologies and incorporating both quantitative and qualitative data collection techniques."
Use the following text to write chapter 3: Research Methodology, and cover the following points:Research Method 
Research Approach
Data Sources
Data Collection Method
Primary Data 
Validity and Reliability 
Secondary Sources
Systematic Literature Protocol
RQ1 and RQ2
Data Analysis
Ethical Consideration 
"3.1 Introduction 
Research methodology is a way to systematically solve the problem and include the various steps that are generally adopted by a researcher in studying his research problem along with the logic behind them (Kothari, 2004)
3.2 Data collection strategy:
 From the official sites of SAMA, banks websites, ministry of statices, Ministry of population, journals, and newspapers. 
The global and internal reports issued regarding the economy.
Interviews with some employees who have experience in the cash management sector.

3.4 Techniques & Procedures: data collection 
Demography of respondents: people who have experience in this business sector and other random samples inside Riyadh city.
Type of sampling technique used: quantitative and qualitative.
Data collection tool: Primary and Secondary (reports, company reports , journals and newspapers , some government publication through the websites in google and by 	investigation).
Data Analysis:
3.5.1 Marketing analysis summary: - 
By analyzing the economic situation of the Kingdom, it is one of the strongest economies in the world, and it ranked seventh among the G-20, and 24th globally in the global competitiveness criterion, and second globally among the G-20 countries within the digital competitiveness of 2021. The banking sector in the Kingdom is witnessing significant growth and has a share of the Kingdom’s Vision 2030, as it seeks to achieve total banking assets of 4.553 billion riyals in 2030. 
3.5.2 The volume of expected demand for MBCC project services 
The following is an explanation of the market size for the target groups: 
A) The banking sector: 
The company targets the branches of commercial banks in the Kingdom, where the number of branches in the Kingdom reached 2,014 in 2020, and a cumulative growth rate of 2.4%, 


and accordingly, the number of branches was expected for the coming years and targets the ATMs of banks located in various regions in the Kingdom, where the ATMs in the Kingdom reached 18,299 “Table 2”, and the cumulative growth rate is 5.4%.

B) The size of the retail company’s sector: 
According to the statistics of the Ministry of Municipal and Rural Affairs, the total number of commercial activities licenses issued for wholesale and retail trade activity and licenses for companies and institutions in the Kingdom amounted to about 142,389 licenses in 2019, with a cumulative growth rate of 59% during the period 2017-2019 (Affairs, 2020), These commercial activities are among the target groups of the MBCC project to provide money and document transfer services to them in addition to other cash management services.  
C) The volume of demand for commercial companies: 
According to the data of the Saudi Central Bank (SAMA), the number of existing commercial records for companies reached 185,116 companies in  2020 compared to 175,725 companies in 2019 and through the number of companies in the period from (2018-2020) the growth rate was calculated, which amounted to 59% “Table 4”, so that the estimates are not exaggeration, the growth rate of 10% is relied on, as it is expected that their number will reach 223,990 companies in 2022  .

3.5.3 SWOT analysis points  
3.5.3.1 Strengths Points: -
• Strong market reputation
• Solid financial position
• Extensive experience in money transportation and handling precious metals, which are part of the cash management services provided by the cash centers.
• Numerous existing clients, making it easier to promote the cash management services offered through the centers.
• Establishing 10 cash centers in various cities across the Kingdom, enabling the company to reach a wide range of targeted sectors and become one of the largest cash management service providers in the country.
• The MBCC project aims to expand in the future and enhance electronic services in the banking sector.
• Cash withdrawals through ATMs in the Kingdom reached approximately 140.7 billion riyals in the third quarter of 2021.
• The Kingdom's commitment to developing a thriving financial sector as a key facilitator in achieving the goals of Vision 2030.
• The MBCC project targets a significant segment of Saudi society, including the banking sector and other industries, as its services cater to retail traders, government institutions, commercial companies, healthcare providers, and other economic entities dealing with cash.
3.5.3.2 Weaknesses 
• Entry of new competitors with huge investments, which leads to a decline in the number of customers and a decrease in the project's revenues.  
• Implementation of a pricing plan less than the prevailing prices for services, which will reduce the targeted profits.  
• The permanent lack of recreation of the project, which leads to the lack of popularity of the project's name among the target groups, and thus lower profits.
3.5.3.3 Opportunities Available
• A huge boom in the banking sector.
• Benefiting from the Kingdom's vision 2030 regarding the development of the service and banking sectors.  
• Remarkable economic growth in the Kingdom serving the project's trends.  
• Ease of marketing and advertising due to the availability and prevalence of digital marketing.  
• The increased volume of bank branches and ATMs in the Kingdom that aim to provide the services.  
3.5.3.4 Threats 
The introduction of new competitors with significant investments beside existing competitors.
 The unavailability of sufficient funds for the targeted marketing range.
 The limited number of trained workers specialized in the field. 
Through SWOT analysis, there are the opportunities and threats that can be addressed: 
Providing services in an innovative and attractive way.  
Focusing on delivering high-quality services to customers and continuously improving to establish a strong position.  
A strong marketing team that can implement marketing strategies, advertisements, and publicity campaigns to persuade the target audience. 
Executing the project and launching it quickly to occupy the first and major space in the market before new competitors enter. "
Take into consideration the supervisor's comment "Please do not show the research onion. Just mention the choice of methodology . Please omit the swot analysis in this section." You may add, remove, or modify anything in the text.