Exploring perceived effects of 4IR on leadership strategies in South African Mobile Financial Services firms
Date
2022
Authors
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Publisher
University of the Witwatersrand, Johannesburg
Abstract
The Fourth Industrial Revolution (4IR) has brought about significant changes in the finance sector, including the rise of Fintechs and the growth of mobile financial services (MFS). The changing business landscape driven by 4IR, and its associated technologies is leading to a shift in the skills required for leaders. The skill sets owned by traditional leaders may become redundant due to the new technology-driven business environment. Understanding the effects of 4IR on leaders and how the associated 4IR technologies impact leadership strategies in the MFS sector is crucial.
The study focused on exploring the subjective experiences of leaders in an MFS organisation in Johannesburg, South Africa, taking a phenomenological approach. Nine leaders were sampled using purposive sampling. Semi-structured interviews were used as the data collection method, and thematic analysis was used to analyse the data. The findings highlight the critical role of leadership in driving the adoption and effective use of 4IR technologies. Leaders must be ready, willing, and equipped to drive the adoption of 4IR technology in their organisations while having a growth mindset and being comfortable with ambiguity.
Considering the Fourth Industrial Revolution's perpetual and transformative nature, leaders must align with the concept of future-proofing. Future-proofing is the process of anticipating and adapting to change, which involves identifying and mitigating potential risks, as well as seizing opportunities for growth and innovation. Therefore, leaders must embrace future-proofing to successfully prepare themselves and their organisations to navigate the Fourth Industrial Revolution.
Description
A research report submitted in partial fulfillment of the requirements for the degree of Master of Management in the field of Digital Business to the Faculty of Commerce, Law and Management, Wits Business School, University of the Witwatersrand, Johannesburg, 2022
Keywords
Fourth Industrial Revolution (4IR) technologies, Leadership strategies, Leadership, Mobile Financial Services (MFS), Future-proofing, UCTD
Citation
Gray, Michael. (2022). Exploring perceived effects of 4IR on leadership strategies in South African Mobile Financial Services firms [Master’s dissertation, University of the Witwatersrand, Johannesburg]. https://hdl.handle.net/10539/38956