Faculty of Commerce, Law and Management

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Emotional intelligence: A critical success factor for selling funeral policies
(2014) Shiri, AT; Chitakunye, P; Fields, Z
This study contributes to a deeper understanding of emotional intelligence as a critical success factor in the selling of funeral insurance policies. Insights are drawn from a quantitative study that adopted a convenience sampling approach. The study tested the extent to which emotional competencies are related to job performance of funeral policy sales agents. Thirty Eight (38) agents from an insurance firm in the Midlands province of Zimbabwe participated in this study. A Schutte emotional intelligence test was used to test their overall emotional intelligence as well as their four competencies of emotional intelligence. Agents also responded to questions that tested their ability to handle client rejection and supplied other relevant data, such as age and work experience. The data was analysed using SPSS, and the output revealed that there was a positive relationship between emotional intelligence and performance. The results also revealed that some of the competences on emotional intelligence were insignificantly related to sales agents’ performance while others, such as appraisal of emotion and social skills, were significant. The results confirm that emotional intelligence is an important critical success factor in the insurance industry and management should utilise it in planning.
CRITICAL SUCCESS FACTORS IN THE
(2011-04-15) Hosany, Feroz
This research report evaluates the critical success factors in the relationship of multi-national franchises as identified by authors in franchise systems. Specifically, this research seeks to validate the critical success factors in the relationship between multi-national Franchisors and Franchisees identified in the literature review. The research was conducted amongst Experts, Franchisors, and Franchisees operating within Africa. The questionnaire-based survey asked the participants to rate 16 statements, in order of importance, in order to verify if they would also select the 6 factors that had been identified in the literature review. Subsequently the data elicited was analysed by various statistical techniques including descriptive statistics and inferential statistics. The findings of the research indicate consensus of the three groups of respondents on five factors: These are as follows: · Partner selection is crucial to the success of a franchise relationship · The deal must create mutual benefit and value · Both parties must share common goals and a common vision · There must be trust and transparency in all dealings between the two parties · Effective communication between the two parties is essential A conceptual model is formulated that outlines the critical success factors in the relationship between multi-national Franchisors and Franchisees. The study also provides consultants in franchise systems a means to develop programs and guidelines to enhance these relationships. The findings are valuable both for existing franchise systems and new ones. Recommendations are also made for further research in order to provide guidance to specific franchise sectors.
Critical Success Factors for a Board of Directors in South Africa
(2011-03-31) Coovadia, Zaheer
The purpose of the research was to determine the critical success factors that are needed to ensure the optimal functioning of an organisation’s board of directors. In the process, attributes of effective boards have been identified with the view of improving their abilities to make corporate governance and their organisations a success. A literature review was completed in order to apply existing theory to the research problem. From the literature review, it was found that the following critical success factors exist: understanding the roles and functions of the board, the role of the CEO and chairperson (duality versus role separation); the composition of the board (proportion of executive, non-executive and independent directors); the size of the board; relationship dynamics amongst board members and board “process”; structured and effective board meetings, management development, board diversity (educational, functional and industry background, race and gender, length of service on the board) and compensation. The methodology for the research is then described. Qualitative research was used with the research instrument being in-depth interviews. Twenty four interviews were completed with top management and board members of major South African companies within the communications, banking, auditing, consulting, retail, IT, financial, technology and educational sectors. Interviews were transcribed and content analysis performed on them to extract recurring themes related to the questions asked. The results of the interviews are then presented and interpreted. Of the propositions formulated (which formed the basis of the research), the following were proved:- · Successful boards understand what their key roles and functions are. ii · Boards where the roles of CEO and Chairman are split function more effectively. · A majority of non-executive and independent directors on the board ensures that the board functions more effectively. · Smaller boards function more effectively. · Constructive conflict amongst board members improves the effectiveness of the board. · Staging structured board meetings improves board effectiveness. · In order for a board to be successful, a good relationship between the board and management is needed. · The degree of diversity (in terms of race, gender, functional experience, industry experience, director experience and education) on the board is positively associated with their successful functioning. The research found no definitive link between the two propositions listed below and board effectiveness:- · Boards where members have served together for long periods of time are less effective. · High levels of incentives in compensation are an effective means of ensuring superior board member performance. The research also identified board appraisals as crucial to creating and maintaining an effective board. The modest contribution of the research has added to the existing knowledge of critical success factors for corporate boards.

Faculty of Commerce, Law and Management

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