Faculty of Commerce, Law and Management (ETDs)
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Item Critical success factors for strategy implementation within the South Africa short-term insurance sector(University of the Witwatersrand, Johannesburg, 2023) Moloisane, Obakeng Mohanoe; Rangasamy, LoganThe objective of this research is to determine a common set of considerations that underpin strategy implementation in the short-term insurance sector in South Africa. This paper will seek to analyse the factors which influence the successful implementation of strategy against the backdrop of these common considerations. This paper is split up into 5 chapters, with Chapter 1 providing a background to the study, context to the research question and highlighting the significance of the study. Chapter 2 consists of a literature review of all of the leading scholars on strategy implementation, highlighting the key conceptions of strategy implementation contained in the literature to date. Chapter 3 provides an explanation of the research methodology applied to the study, while Chapter 4 sets out the key findings drawn from the research conducted on the defined research population. Finally, Chapter 5 sets out an explanation of the key findings contained in Chapter 4, and concludes this paper by providing recommendations and areas for potential future research in the subject areaItem Inhibitors of digital transformation in a multinational retail bank(2021) Chittigadu, SachinThis research report investigates the inhibitors of digital transformation strategy in a multinational retail bank with the case of Bank X. The study focuses on this topic from a view of a traditional bank as opposed to new entrants or digital banks as these institutions need to navigate existing operating models between Founding Organisations and Subsidiaries. The focus of this research is on the Southern African context wherein the Founding Organisation is based in South Africa and the Subsidiaries are based in Namibia, Botswana, Zambia, eSwatini, and Lesotho, The existing theoretical framework is that multinational organisations need to leverage open resources, linkages, and integration between the Founding Organisation and the Subsidiaries to achieve successful digital transformation. Literature specifies that there needs to be open and effective communication to successfully formulate and implement digital transformation strategy in addition to the deep market understanding that must be provided to customise the strategy for each Subsidiary. The challenge that traditional banks are faced with is factors that must be considered during the strategic process to ensure that the strategy is successful in all their markets. Qualitative research in the form of semi-structured interviews with executive and senior management that is directly involved in the development and implementation of digital transformation strategy of a multinational retail bank was conducted. The population of the study consisted of participants situated in Subsidiaries as well as participants situated in the Founding Organisation with direct involvement into the Subsidiary operations. The study found that there is misalignment in the understanding of what digital transformation entails, and this misalignment is perpetuated by ineffective communication and adoption of strategy by the Subsidiaries. There is siloed development of strategy and implementation of strategy, resulting in nuances among the Subsidiaries not being fully incorporated. It is found that a leadership style similar to transformational leadership is necessary to empower Subsidiary leadership to own the strategy for their market. The conditions of technology regulation and availability in the market as well as organisational culture are important to consider when aiming to successfully implement digital transformation strategy in a multinational retail bank. In order to digitally transform a multinational retail bank successfully, there are recommendations that are made in this study. The recommendations are to align the transformation vision across the Founding Organisation and the Subsidiaries; leverage leadership roles and styles that benefit the transformation journey; understand the regulatory and technological landscapes of the markets that the transformation is targeting; communicate effectively among the Founding Organisation and the Subsidiaries; leverage data for enhanced decision making; decentralise development capabilities for system enhancements; and embrace national differentiation as a strategy.