Bank managers and technological advancement : case of a leading bank in the Lebanese market

Abstract

Nowadays, the term management encompasses many theories, practices, hypothesis and propositions that are considered useful tools for managing any company. Management is an art by itself. Management combines many skills together in order to formulate a management style that will be appreciated by employers as well as by employees, which will result in servicing the customer in a very grateful way. Nevertheless, attempts were made to raise awareness regarding the replacement of older managers with young ones, mainly because of their lacking the know-how with respect to technological advancement and their hesitance to adapt to new management techniques. In fact, the literature suggests that business environments impose a certain level of adequacy that most employees must possess. Similarly, there should always be a trustworthy intervention between employees and employers. Employees should always work on enhancing their capabilities and employers should always work on introducing new products and services to their customers. All this sheds light on the factors that may affect employers' decisions regarding management replacement dilemmas. Hence, this research aimed at understanding some of these factors impacting employers' verdicts in management change decisions. Questionnaires and interviews were conducted to investigate these factors in the case of a leading bank in the Lebanese market. Overall, this study investigated the issue of replacing older managers with younger managers by looking at employee and customer preferences as well as senior management decisions and the basis of their decisions. Generally, a preference for more technologically advanced managers was noted among both employees and customers. Results were not as clear cut with respect to age of the manager.