Proceedings of the 2nd World Conference on Business, Management, and Economics
Year: 2024
DOI:
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Organisational Climate as an Antecedent for Enhancing the Successful Implementation of a Bank’s Crisis Recovery Strategies
Jennifer Davis-Adesegha
ABSTRACT:
As the global financial terrain becomes unpredictable to plunge banks into a series of various forms of crises, the use of an holistic approach will influence the capabilities of the banks to recover from such crisis situations. It is in that context that this research explores how organisational climate enhances the successful implementation of a bank’s crisis recovery strategies. The study used qualitative Delphi Method to gather experts from about ten Caribbean-based banks. The Delphi study discussed how organisational climate has been quite instrumental for influencing the successful implementation of bank crisis management strategies as well as the limitations experienced and the improvement initiatives that must be adopted. Thematic analysis of the emerging findings signified good organisational climate to often influence the successful bank crisis management because good organisational climate bolsters improved employee morale, job satisfaction and productivity. This catalyses the level of employee creativity and innovativeness to come not only with the best bank recovery strategies, but also some of the best ways of implementing such strategies for the bank to quickly recover from the unfolding crisis. But even if all these influence the successful implementation of the required bank crisis management strategies, the outcomes of the Delphi study still indicated some limitations to often arise from management panic and pressure instigated by the crisis as well as incompatible management/leadership styles. To realise the successful implementation of bank crisis management strategies, banking executives must not only emphasise the utilisation of good remuneration, change management strategies and good leadership/management styles, but also the development of good organisational climate that motivates the employees to constantly explore new ways of performing well to enable the bank attain the desired performance targets irrespective of whether or not the bank is undergoing a crisis.
keywords: Organisational Climate, Bank Crisis Management, Crisis Recovery Strategies, Bank Performance, Employee Motivation