Level	Quantity	from the company	From outside the company		fully agreed	agreed	disagreed	not sure
COO	2	1	1		2	0	0	0
GM	10	7	3		9	1	0	0
Senior Manger	6	4	2		6	0	0	0
Manger	20	15	5		15	2	1	2
Department Head	15	13	2		8	4	0	3
deputy Manager	10	8	2		8	2	0	0
Cash operation supervisor	8	6	2		8	0	0	0
other specialist employees	12	12	0		6	2	0	4
	83	66	17		62	11	1	9
					75%	13%	1%	11%

Task: write Chapter 4: Results and Discussion.

Use the previous data retrieved from interviews done with experts in cash management reporting how many were supporting or non supporting the establishment of MBCCs and their respective positions and that establishing MBCCs will serve as a valuable investment and profitability opportunity, and how companies can get out of the market if they don’t establish MBCCs. Use online data from reports, data, tables, guidelines from SAMA, Saudi Arabian government institutions, and other sources that you find helpful to answer the research questions and prove how Implementing SAMA Guidelines can Achieve Business Sustainability at ASSSCO in Saudi Arabia. Build a coherent, in depth, text that uses detailed info and specific numbers to resolve the research process and cover the following points :	1. Introduction, 2. Critical discussion on the research question, and 3. Critical discussion on the linkages between literature and findings. You may use tables, graphs, outside resources, or anything you find useful. You may add, delete, or modify anything in the text. The following text is the first three chapters, keep them in mind during the writing of chapter 4. “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

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, the methodologies employed, 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 actual methodological approaches needed to generate empirical evidence regarding the factors influencing success or failure of MBCCs. Additionally, a reason why the generalization of the findings from existing literature may be limited is due to the small sample sizes in most research studies.
Lastly, much of the literature reviewed is directed heavily towards the role of technology in cash logistics, with little focus on 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 still needed to fill this gap in order to provide 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 produce more 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.


Chapter 3: Research Methodology

3.1 Introduction
Research methodology is a systematic approach to problem-solving and includes various steps generally adopted by a researcher in studying their research problem, along with the logic behind them (Kothari, 2004). This chapter covers the research methods, research approach, data sources, data collection methods, validity and reliability, ethical considerations, and data analysis involved in this study.

3.2 Research Method
In order to answer the research questions, the study adopts a mixed-method approach. It utilizes both quantitative and qualitative research methods. This approach allows us to provide a comprehensive understanding of the challenges and opportunities in implementing SAMA’s guidelines, the impact on ASSSCO’s operations, finances, and growth prospects, and the implications for the banking and financial sectors.

3.3 Research Approach
The research approach consists of two main components: primary data collection through interviews and secondary data collection from various sources. This combination of data sources will allow for triangulation and a richer understanding of the research questions.

3.4 Data Sources
The data for this study will be obtained from various sources, including the official websites of SAMA, banks, Ministry of Statistics, Ministry of Population, journals, newspapers, global and internal reports on the economy, and interviews with experienced employees in the cash management sector.

3.5 Data Collection Method
3.5.1 Primary Data
Primary data will be collected through semi-structured interviews with experienced employees in the cash management sector. These interviews will provide valuable insight into the challenges and opportunities associated with implementing SAMA’s guidelines and establishing MBCCs.
3.5.2 Validity and Reliability
To ensure the validity and reliability of the primary data, the interview questions will be carefully designed and piloted with a smaller sample of participants. In addition, the interview process will be recorded and transcribed to minimize the risk of misinterpreting or misrepresenting the participants’ responses.

3.6 Secondary Sources
Secondary data will be collected through a systematic literature protocol, which will involve a comprehensive search and review of existing research related to the research questions. This will include research articles, reports, company reports, journals, newspapers, and government publications available on various websites.

3.7 Data Analysis
The data analysis process will involve the use of thematic analysis to identify patterns and themes related to the challenges, opportunities, and implications of establishing MBCCs. This will enable a deeper understanding of the data and allow for the development of valuable conclusions and recommendations relevant to ASSSCO and other stakeholders in the cash management industry. Marketing analysis, SWOT analysis, and the examination of the expected volume of demand for MBCC services were used to draw conclusions and inform future strategies.

3.8 Ethical Considerations
Ethical considerations are crucial in ensuring the integrity and professionalism of the study as well as maintaining the confidentiality of the participants. Throughout the whole research process, these considerations will be taken into consideration. Participants are going to be informed about the purpose and objectives of the study. Their consent will also be obtained before conducting any interviews. Additionally, the anonymity of the responses will be maintained to protect the participants’ privacy and personal information. Additionally, credit was given to all the sources of secondary data used in the study, ensuring that intellectual property rights were respected.

3.9 Conclusion
This chapter has provided an overview of the research methodology employed to address the research questions in this study. The mixed-method approach and combination of primary and secondary data sources will enable a comprehensive understanding of the challenges and opportunities in implementing SAMA’s guidelines and establishing MBCCs. Through the careful consideration of data validity, reliability, and ethical concerns, this research aims to provide valuable insights that can contribute to the growth and sustainability of ASSSCO and the wider cash management industry in Saudi Arabia.”

Also please write down any references used in writing chapter 4.