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Banking and commerce within the post-Brexit VUCA world

Laker, B. (2019) Banking and commerce within the post-Brexit VUCA world. Management Science: Current Trends, 1 (1). pp. 1-11. ISSN 1526-5501

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Official URL: https://crispusonline.com/welcome/journal/MSCT

Abstract/Summary

Purpose: Sales systems are in transition due to the volatile, uncertain, complex and ambiguous (VUCA) nature of the markets they serve. In this research, we analyze the key sales system capabilities needed to operate within this demanding era. By sales we mean strategic level choices that are related to sales. Thus, this research does not focus on operational sales activities (including selling process and techniques). In addition, we aim to find out which are the most meaningful system level “tensions” which present challenges when trying to develop new sales approach for new era in the company. Methodology: Quantitative and qualitative research was undertaken; ten face to face interviews were completed with sales leaders in the UK internet banking and commerce industry, followed by an online survey completed by one thousand one hundred employees in their organizations. Findings: Awareness of the changes needed in the VUCA era have taken place and some awareness has even progressed to action, such as sales force success being very dependent on the internal environment created by management, leadership, and other internal dynamics of the organization and this can be a contributing or limiting factor to its success in the external environment sales to the customers. E.g., communications, shared goals, and a feeling of common purpose were highlighted. However, more concrete development actions are needed. (Research limitations/implications) Practical implications: This study increases the understanding of how managers should organize and develop sales and related management systems to become more competitive when facing new challenges. Originality/value: Research on sales-related intra-organizational issues is scarce, although this topic is considered of high importance. Keywords: Banking, Commerce, Post-Brexit, VUCA World

Item Type:Article
Refereed:Yes
Divisions:Henley Business School > Leadership, Organisations and Behaviour
ID Code:83040
Publisher:INFORMS

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