Strategic qualities of women in top management positions within the financial services sector in a post democratic South Africa.

MBA thesisThis research investigates the strategic qualities of women in top management positions within the financial services sector in a post democratic South Africa. Not only does the study fill a gap in the theories that suggest that women are limited in advancing to becoming leaders in their organisations, but it also addresses the fact that women have made strikingly little progress in advancing to the boardrooms and the executive suites in some sectors of the economy, including the financial services sector. The literature provided contains sections of themes of relevance that are predominant to the study. These emanated from a framework developed by Wilson, Lenssen and Hind (2006) to identify the strategic qualities that are needed for leaders in an organisational setting, the aim of which was to explore in greater depth the skills, knowledge and attitudes necessary to implement into management practice. This formed the basis of the study. Information was gathered using a possessed qualitative methodology in order to address the appropriate data to answer the research questions. The theory was based on Creswell’s (2007) Qualitative Research Designs, Selection and Implementation. The research design for this study was in the form of semistructured in-depth interviews, as these were the most efficient means of collecting emotional as well as factual information. Data obtained from the research instrument was later analysed using a data management system used by Miles and Huberman (1999), which is linked to sub processes of data reduction, data display and finally a conclusion drawing or verification. According to Miles and Huberman (1999), data reduction requires one to take recordings and notes from recorded interviews and convert them to data summaries for analysis. Key themes and terms present across all interviews were identified and marked appropriately. Both the themes from the analysis and the framework were closely correlated. Respondents shared the views of Wilson, Lenssen and Hind (2006). The overall ` iii study showed that the following qualities (before and after the application of the framework respectively) are essential for women wanting to rise the upper echelons of top management within the financial services sector: integrity (staying true to yourself), open mindedness (innovation and keeping up with the internal and external environment), long term perspective (forward looking), ethical behaviour (remaining moral and ethical in business), care for people (people skills), responsible management (networking), empowerment (support and mentoring young women as career professionals), teamwork (people skills), and communication (connecting with team members). This research therefore adds a new dimension to the body of literature that will help scholars, researchers and professionals to identify the strategic qualities of women in top management positions. As this research takes place in the South African context, it will contribute to further findings relating to the study of women in management positions