WWW.THESES.XLIBX.INFO
FREE ELECTRONIC LIBRARY - Theses, dissertations, documentation
 
<< HOME
CONTACTS



Pages:     | 1 |   ...   | 98 | 99 || 101 | 102 |   ...   | 156 |

«VOLUM E 1 1, N UM B E R 1 I S SN 2 1 6 8 - 0 6 1 2 F L ASH DR I V E I S SN 1 9 4 1 - 9 5 8 9 ON L I N E T h e In s t it ut e f o r Bu s i n e s s an ...»

-- [ Page 100 ] --

Dwyer, Hill, and Martin (2000) defined critical success factors as the “skills, tasks and/or behaviors that influence an employee’s performance” (p. 151). Critical success factor analysis has been used in numerous industries to determine those areas in which management must concentrate or identify as areas that should be isolated in order to move the organization forward. Prior to the development of CSF methods, Rockart (1979) identified four possible means of disseminating information to top executives: total study, null approach, key indicators, and by-product. Rockart (1979) stated that “critical success factors are the limited number of areas in which if results are satisfactory will ensure successful competitive performance for the organization” (p. 85) and must be tied to the goals of the organization (Cherian et al., 2008). Critical success factors require constant monitoring and changes due to the changes in the organization. There are four prime sources of CSFs: structure, competitive, environment, and temporal (Rockart, 1979). Structure factors are those things that are determined by the characteristics of the industry. Competitive strategy refers to such things as market niche, location, distribution of key resources, and managerial support.

Environmental factors refer to areas associated with the economy, political factors, and demographic issues.

Temporal factors are those items that are critical for a period of time (i.e., staffing issues, loss of management, etc.; Stein & Voehl, 1997). Work conducted by Amberg et al. (2005) extended previous research regarding CSFs by determining that CSFs have different dimensions. Critical success factors can be hierarchal versus group, temporary versus ongoing, internal versus external, building versus monitoring, strategic versus tactical, or perceived versus actual (Amberg et al.).

GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 455 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 Social Capital Theory Social capital theory is “the ability of actors to secure benefits by virtue of membership in social networks or other social structures” (Portes, as cited in Akdere, 2005, p. 1). Social capital provides individuals access to resources that can enhance the probability of success. From a business perspective, social capital refers to “resources such as information, ideas, business opportunities, financial capital, power, emotional support, goodwill, trust and cooperation” (Baker, as cited in Akdere, p. 3). Access to social capital provides individuals with a competitive advantage only if information is not readily available (Burt, 2007). Harris et al. found that workplace social capital support through mentoring, collegial support, and task support predicted job tenure. Social capital theory links employees with information. Viewing social capital from a structural perspective focuses on relationships and connections between actors, such as friendship and trust. Per Kase and Zupan (2007), the structural lens results in “opportunities for access to diverse resources and information, and to enjoying greater autonomy due to less strict normative control” (p. 217).

According to Kase and Zupan, organizations that are knowledge-intensive provide an informational environment that helps employees solve complex and often ambiguous problems that significantly contribute to job performance. The access to knowledge was highlighted in lawsuits as being critical to opportunities for success in the brokerage industry. However, within the financial services sector, competition for fewer positions has eroded the traditional model of social capital (Tempest, McKinlay, & Starkey, 2004). Tempest et al. determined that there exists a limited number of studies that evaluate how individual careers can benefit from social capital. The researchers argued that the “traditional financial services career is associated with ‘strong and unified’ organizational social capital that encourages cooperation at the expense of innovation” (p. 1524).

Implications of the Literature

A review of the literature indicated that EEO laws and diversity initiatives alone are ineffective for eliminating disparities in the workplace. Organizations and individuals must work in conjunction to facilitate career success. The brokerage industry is just one of many that have experienced financial assessments due to the lack of advancement of women and minorities. The literature indicated that there is a definite need for additional information with regards to critical success factors within the personal financial services industry. Additional career factor analysis could be instrumental in resolving retention issues that are prevalent in the brokerage industry. Although there have been numerous diversity initiatives, there remain areas in which scholarly research may have a valuable impact. The literature review indicated that an evaluation of factors affecting career success can be determined through the use of critical success factor research.

METHODOLOGY

The sample for this study consisted of 15 Black personal financial advisors who have obtained the position of vice president or above in the brokerage industry. These personal financial advisors were considered highly successful based on assets under management, revenue generated, and length of service in the industry. In order to obtain the desired number of participants, the researcher employed a nonprobability sampling technique, collecting names from the public documents that list the corporate officers. The study was conducted using theoretical sampling, which allows for the selecting and studying of a homogeneous sample of individuals (Creswell, 2007) such as Black personal financial advisors. The introduction to the study was accomplished through an invitation to participate. Each respondent was given the opportunity to express his or her understanding and role in the study. Once participants had signed and returned the Informed Consent letter, the researcher made arrangements to interview each individual respondent using the structured interview guide, for data collection. To protect participants, the researcher assigned identification numbers to all documents regarding participants. The interview guide was designed as an GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 456 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 expansion of the literature from Pinto and Slevin (as cited in Stroman, 2007), Dobbins (2002), Warriner (2005), and Stroman. The resulting CSFC categories extended Rockart’s (1979) research, and addressed external factors such as political, environmental, cultural, and external relationships. The researcher modified Stroman’s (2007) structured interview guide for the study of personal financial advisors. The modifications included specific language that defines success, eliminated categories that were unrelated to being a personal financial advisor, and added categories that are relevant to investigating the personal financial services industry. The new categories were cultural and marketing influences. The CSFCs for this





study of personal financial advisors were as follows:

Global or Industry-Related External Influences Internal Influences Temporal and Enduring Risk Abatement Performance Cultural Influences Marketing Influences Data Collection and Analysis The population for this case study consisted of 15 Black personal financial advisors at the vice president level (or above), employed or previously employed at a major U.S. brokerage firms. The group consisted of 2 women and 13 men. Respondents represented seven different major brokerage firms and capital management companies. All persons interviewed were practicing on the East Coast of the United States.

The purpose of the structured interview was to request potential CSFs from each of the 15 Black personal financial advisors. After the data collection interviews, the information was transcribed to an electronic word processing format for accuracy, coding, and analysis. Then each interview was analyzed to determine the CSFs. The analysis was a four-part process administered to each respondent’s category data. The researcher: (1) Compiled a list of all the factors for each category; (2) Determined whether the factors were used in the proper context related to the particular category: (3) Counted the number of times a factor appeared for each category and (4) Sorted and ranked the factors in descending order for each category.

Conversations with participants were recorded and transcribed for accuracy. Consent of the participants was obtained prior to tape recording of the interview. A professional stenographer was hired to transcribe the information for analysis.

The researcher sought to identify critical success factors of Black personal financial advisors at major brokerage firms. The data were coded by category and analyzed. Analysis for this study was accomplished by counting the factors named by the 15-person sample. The researcher compiled a list of all the factors for each category, determined whether the factors were used in the proper context related to the particular study, counted the number of times a factor appeared for a category, sorted, and ranked in descending order the factors for each category. This study utilized a cross-referral, indexing, abstraction, and pagination (Miles & Huberman, 1994) to ensure the proper presentation of data. The determination of the CSF for each category was completed by contextual examination of the statements. Each interview resulted in potential CSFs in each of the eight CSFCs. Applying CSFC analysis, the filtration process resulted in the reduction of factors to indicate the relative importance, or criticalness, of the stated activity.

RESULTS, CONCLUSIONS, AND RECOMMENDATIONS

The answers to the research questions were obtained by gathering data from 15 successful Black personal financial advisors. The researcher developed an eight-category model, designed from Stroman’s critical success factor category analysis, and utilized a structured interview guide to solicit feedback. The GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 457 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 participants provided 243 responses. Due to the fact that each interview provided appropriate responses, it supports the position that CSFCs can be applied to the personal financial advisor profession. This research appears to be the first in which critical success factor category analysis was applied to successful Black personal financial advisors. The five most frequently identified critical success factors in the eight CSFCs were Organization structure and support Work ethic and business processes Market analysis/target market Communications Compliance activities

CONCLUSION

The main research questions were “What are the critical success factors within the critical success factor categories (CSFCs) as defined by Black personal financial advisors in the financial services industry?” and “What are the five most frequently identified critical success factors within the eight critical success factor categories (CSFCs) as defined by Black personal financial advisors?” These questions were answered by applying CSFC theory and analysis to the responses provided by 15 successful Black personal financial advisors. The research resulted in five critical success factors, which supports using CSFC analysis as a method to determine success strategies in the personal financial advisor profession. The results suggest that the essential factors to success as a Black personal financial advisor are dependent upon the resources and support provided by the advisor’s firm and having a personal work ethic that produces business processes that lead to consistent results. The results of this study support the arguments presented in discrimination cases that have been filed by women and minorities in the financial services and brokerage industries stating that organizational support is essential for success. Access to resources and support from the organization in such areas as management, clerical, training, funding, and product availability are critical to being successful. Time spent handling administrative issues distract the Black personal financial advisor from essential business development activities. Given the results of this study, financial institutions must continue to evaluate resource allocation and implement measures to ensure that employees are receiving the necessary resources to be successful.

REFERENCES

Akdere, M. (2005). Social capital theory and implications for human resource development. Singapore Management Review, 27(2), 1–24.

Amberg, M., Fischl, F., & Wiener, M. (2005). Background of critical success factor research (Working Paper No. 2/2005).

Avery, D. R., McKay, P. F., Wilson, D. C., & Tonidandel, S. (2007). Unequal attendance: The relationships between race, organizational diversity cues, and absenteeism. Personnel Psychology, 60(4), 875–902.

Bogle, J. C. (2008). Black Monday and black swans. Financial Analyst Journal, 64(2), 30–40.

Boynton, A. C., & Zmud, R. W. (1984). An assessment of critical success factors. Sloan Management Review (pre-1986), 25(4), 17–27.

GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 458 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 Brazeal, D. V., Schenkel, M. T., & Azriel, J. A. (2008). Awakening the entrepreneurial spirit: Exploring the relationship between organizational factors and perceptions of entrepreneurial self-efficacy and desirability in a corporate setting. New England Journal of Entrepreneurship, 11(1), 9–25.

Breland, J. W., Treadway, D. C., Duke, A. B., & Adams, G. L. (2007). The interactive effect of leader– member exchange and political skill on subjective career success. Journal of Leadership & Organizational Studies, 13, 1–14.



Pages:     | 1 |   ...   | 98 | 99 || 101 | 102 |   ...   | 156 |


Similar works:

«ahorro ahorro Farmacias del Ahorro Somos la cadena farmacéutica número uno del país en México, dedicada a proveer servicios de salud a todos los mexicanos. ¡Conócenos y descubre los Caja de Ahorros del Mediterráneo Caja de Ahorro y Monte de Piedad de Yecla, founded in 1902, and; Caja Rural de Ahorros y Préstamos del Sindicato Católico Agrícola de Yecla, Ahorro Inversión Monografias.com Ahorro. Determinantes del ahorro. Inversión. Determinantes de la inversión. La teoría del...»

«Examining the Development of Eighteenth-century Military Affairs: Comparing the Military Writings of Frederick the Great and Maurice de Saxe Daniel Toligi – S1240161 Supervisor: Prof. dr. J.F.J. Duindam 2 June 2015 9756 Words Leiden University CONTENTS Introduction Chapter 1 Frederick and Saxe: A Comparison of two men Frederick the Great Maurice de Saxe Chapter 2 Practical Challenges, Tactics and Firepower Challenges of Eighteenth-century Warfare Tactics and Firepower Chapter 3 Changes in the...»

«AIKIDO BUKI WAZA MATS ALEXANDERSSON 6 DAN AIKIDO BUKI WAZA BY MATS ALEXANDERSSON AIKIDO BUKI WAZA Copyright © 2016 Mats Alexandersson ISBN-13: 978-1532752179 ISBN-10: 1532752172 Published by Createspace Technique photos by Svante Larsson Additional photos by Mats Alexandersson Mats Alexandersson, 1965– Aikido Buki Waza CONTENTS Interview with Saito Sensei from 1996 Thoughts on Buki Waza and Riai Ai ki no Ken 1st suburi 2nd suburi 3rd suburi 4th suburi 5 th suburi 6th suburi 7th suburi Shi ho...»

«Publish data Physics For Poets Th Edition books document, also Download PDF Physics For Poets Th Edition digital file PHYSICS FOR POETS TH EDITION PDF Enjoy ways of help documentation is really a hard copy manual that's printed physics for poets th edition PDF nicely bound, and functional. It operates as a reference manual skim the TOC or index, get the page, and stick to the directions detail by detail. The challenge using these sorts of documents is the fact that user manuals can often become...»

«1 Anonimato y cifrado Comentarios enviados a la Relatoría Especial de la Comisión de Derechos Humanos sobre la promoción y protección del derecho a la libertad de opinión y de expresión 10 de febrero de 2015 Contacto: Katitza Rodríguez, Directora Internacional de Derechos de la EFF katitza@eff.org Gracias por brindarle a la Electronic Frontier Foundation (EFF) la oportunidad de añadir nuestra presentación a la consulta acerca del uso de cifrado y anonimato en las comunicaciones...»

«DOCUMENT RESUME CS 212 983 ED 334 602 Freedman, Sarah Warshauer; McLeod, Alex AUTHOR Comparing the Teaching and Learning of Writing in the TITLE United States and the United Kingdom: Audience Exchanges. Final Report. Center for the Study of Writing, Berkeley, CA.;INSTITUTION Center for the Study of Writing, Pittsburgh, PA. Office of Educational Research and Improvement (ED), SPONS AGENCY Washington, DC. PUB DATE 90 NOTE 313p. Reports Research/Technical (143) PUB TYPE MF01/PC13 Plus Postage....»

«TUTORIAL DEL CALENDARIO DE 13 LUNAS La nueva era que se avecina en nuestro planeta tiene mucho que ver con un cambio de la frecuencia del tiempo. El calendario de 13 Lunas-28-días es una herramienta simple que nos ayuda a elevar nuestra frecuencia y nos ofrece una nueva lente para ver tanto nuestro día a día como los acontecimientos planetarios. Debido a que tanto el calendario gregoriano como las 13 Lunas operan con 52 semanas de siete días al año (364 días), ¡el calendario de 13 Lunas...»

«Protocolo para la identificación de discriminación contra las personas que viven con el VIH ONUSIDA/01.71S (versión española, noviembre de 2001) ISBN 92-9173-129-3 Versión original en inglés, UNAIDS/00.05E, mayo de 2000 : Protocol for the identification of discrimination against people living with HIV Traducción – ONUSIDA © Programa Conjunto de las Naciones Unidas sobre el Las denominaciones empleadas en esta publicación y la VIH/SIDA (ONUSIDA) 2001. Reservados todos los forma en...»

«Información y reservas / Information and reservations: Tel. +34 968 33 8101 Ext. 6100 · spa@lamangaclub.com | www.lamangaclub.com ESPAÑOL Situado en el corazón del resort, Spa La Manga Club ha sido creado para redefinir el concepto de belleza y relajación. Con nuestra exclusiva selección de rituales y tratamientos, sentirá la hospitalidad de nuestra gente, los ingredientes naturales de nuestros productos y experimentará un placentero y renovador descanso. SPA RITUALES Descubre los...»

«Being a Carer and Having a Carer’s Assessment How to get help if you are doing a lot to look after another person Introduction What is this pack about? This pack is to help people with learning disabilities that do a lot to look after someone else. These people are called ‘carers’.This pack will help you think more about: • If you are a carer • How you might be able to get some help with caring. A carers’ assessment can help you get support for you and the person you care for. If...»

«Study Guide, April 2016 Prepared by Robert Neblett What’s Inside Synopsis 3 Characters 4 Composer’s Notes 5 About the Creators 6 At Look at 1965 7 Q&A with Musical 8 Director Mark Binns Questions for Writing 10 & Discussion Activities 11 2 Joan Hess (Francesca) and Michael Halling (Robert) in The Rep’s production of The Bridges of Madison County. Photo by John David Pittman.SYNOPSIS BY MARSHA NORMAN Act One the devastation of the war. Later that night, Robert A beautiful Italian woman...»

«REVISTA CIDOB d'AFERS Fundación CIDOB Calle Elisabets, 12 08001 Barcelona, España Tel. (+34) 93 302 6495 Fax. (+34) 93 302 6495 info@cidob.org INTERNACIONALS 78. Migración, transnacionalismo y empresariado asiático en España. Los sindhis y el comercio en el Mediterráneo. Mark-Anthony Falzon Revista CIDOB d’Afers Internacionals, núm. 78, p. 121-138 Los sindhis y el comercio en el Mediterráneo Mark-Anthony Falzon* RESUMEN El presente artículo se nutre de los datos aportados por varios...»





 
<<  HOME   |    CONTACTS
2016 www.theses.xlibx.info - Theses, dissertations, documentation

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.