Thesis (MBA (Business Management))--Stellenbosch University, 2008. / ENGLISH ABSTRACT: The banking industry is one of the most regulated industries in the world. The majority of these regulations are drafted to provide protection to consumers and investors and to ensure the systemic stability of the economy. South African banks, like many of their international counterparts, face a plethora of financial regulation aimed at ensuring stability and protection. In addition to these regulations, South Africa's prior exclusionary policies have resulted in the post-democratic government prescribing additional regulation, in part to address the economic duality that exists within the South African economy and in part to offer adequate protection to the most vulnerable in the society. The National Credit Act (NCA) is one such piece of legislation that has introduced a new era of consumer credit regulation and practice, bringing about wholesale changes to the consumer credit industry. The NCA and more than 260 other financial regulations in South Africa have a significant impact on banks, with each piece of legislation resulting in banks having to adapt to the changing environment (Nyamakanga, 2007). Using the four big banks' implementation of the NCA as a case study, the present study aims to establish if an integrative change management strategy could assist banks in effectively implementing financial regulation. The following aspects of the banks' implementation of the NCA were researched: • Effectiveness of financial regulation. • Current barriers and challenges to the implementation process. • Effect of these challenges on banks. • Impact on staff and customers. • Methods used to overcome the challenges. • Future challenges of the NCA. • Support structures used during implementation. • Use of change management principles. • Recommended strategies for future regulatory changes. • Recommended changes to the NCA. Detailed interviews were conducted with the overall NCA project leaders of each of the four big banks, namely, Absa, FNB, Nedbank and Standard Bank. The method of content analyses was used to analyse the qualitative data collected through in-depth interviews and the outcomes thereof formed the basis of the conclusions drawn. The study found that there were numerous challenges that the banks faced during the implementation of the NCA, the most common and significant as recognised by the population include, the magnitude of the Act, difficulty in interpreting the Act, the process of debt counselling and the associated costs of implementation. The study further found that using the principles of change management enhanced the banks' ability to implement the NCA. Conclusions drawn on the present study are confined to desktop research and semi-structured interviews conducted with the participating banks. It might be useful for future studies on the subject to include a broader population base which focuses on additional pieces of financial legislation in order to further enhance the findings of the present study. / AFRIKAANSE OPSOMMING: Bankwese is tans een van die mees gereguleerde industriee ter wereld. Die meerderheid van hierdie regulasies is ontwerp vir die beskerming van verbruikers en beleggers asook om die sistemiese stabiliteit van die ekonomie te handhaaf. Suid-Afrikaanse banke, soos talle van hul oorsese teenstukke, verduur talle finansiele wetgewing gemik op beskerming en stabiliteit. Die gewese uitsluitende Suid-Afrikaanse wette het veroorsaak dat die huidige demokratiese regering addisionele wetgewing voorskryf, gedeeltelik om die tweesydige Suid-Afrikaanse ekonomie aan te spreek en gedeeltelik om genoegsame beskerming aan die kwesbaarste van die gemeenskap te bied. Die Nasionale Krediet Wet (NKW) bied 'n nuwe era van verbruikerswetgewing en -praktyk aan wat terselfdertyd grootskaalse veranderinge op die verbruikers krediet bedryf teweegbring. Die NKW tesame met meer as 260 ander Suid-Afrikaanse finansiele wetgewing het 'n groot uitwerking op banke, met elke wet wat veroorsaak dat banke moet aanpas by die veranderlike omgewing (Nyamakanga, 2007). Deur om die vier groot banke se uitvoer van die NKW as 'n gevallestudie te gebruik, is die doel van hierdie studie om vas te stel of 'n geintegreerde veranderingsbestuurstrategie banke kan help met die doeltreffende uitvoering van finansiele wetgewing. Die volgende aspekte van die banke se uitvoering van die NKW is ondersoek: • Doeltreffendheid van finansiele regulasie. • Huidige versperrings en uitdagings tot die uitvoeringsproses. • Uitwerk van uitdagings op banke. • Uitwerking op personeel en verbruikers. • Metodiek gebruik om uitdagings te bowe te kom. • Toekomstige uitdagings van die NKW. • Ondersteunende strukture gebruik tydens uitvoering. • Gebruik van veranderingsbestuurbeginsels. • Aanbeveling van strategiee vir toekomende wetgewende veranderings. • Aanbeveling van veranderings tot die NKW. 'n Volledige onderhoud is gevoer met die projekleiers van elk van die vier groot banke, naamlik, Absa, FNB, Nedbank en Standard Bank. Inhoudsanalise was gebruik om die kwalitatiewe data te analiseer en die uitkoms daarvan vorm die basis van die gevolgtrekkings. Die studie dui aan dat banke baie uitdagings getrotseer het gedurende die uitvoer van NKW, die gewigtigste en algemeenste SODS herken deur die bevolking sluit in, die grootte van die Wet, moeilikheid in vertolking van die Wet, die skuldberadingsproses en die begeleidende koste van wetstoepassing. Die studie dui verder dat die beginsels van veranderingsbestuur banke se vermoe om die NKW uit te voer verbeter. Gevolgtrekkings aangaande die huidige studie is beperk tot "desktop" navorsing en half-gestruktureerde onderhoude met die deelnemende banke. Dit mag van waarde wees vir toekomstige studies om 'n bree bevolkingsbasis in te sluit met addisionele finansiele wetgewing wat die bevindings van die huidige studie kan bevorder.

Thesis (MBA (Business Management))--University of Stellenbosch, 2007. / ENGLISH ABSTRACT: Fidentia became an active player in the South African financial services industry in 2005, only a few years since its inception. This was achieved through aggressive take-overs and a favourable public image boosted by employing known sports personalities and sponsorships of various sports teams, charities and other events. The Fidentia group seemed to go from strength to strength under the leadership of Mr. Arthur Brown assisted by his senior management team of which none more prominent than Mr. Graham Maddock. The group’s main business is Fidentia Asset Management (FAM) which, during 2003 and 2004, secured two of the biggest clients in Fidentia’s history. In 2003 the Transport Education Training Authority (TETA) invested R200,3 million and R1,2 billion of the Mineworkers Provident Fund was placed under its’ management in 2004. The Fidentia group was placed under final curatorship on 27 March 2007, based on reports by the then provisional curators and the Financial Services Board which claimed that their inspectors could not trace R680 million of almost R2 billion under the management of FAM. The analysis of the unfolding Fidentia case will show that without proper strategic planning and management, as well as adherence to suggestions on good corporate governance stakeholders’ risk exposure can be increased. NOTE: The information available till end August was analysed. / AFRIKAANSE OPSOMMING: Fidentia was teen 2005 ‘n aktiewe speler in die Suid-Afrikaanse finansiële dienste industrie, slegs ‘n paar jaar nadat dit gestig is. Dit is bereik deur aggresiewe oornames en ‘n publieke beeld wat versterk is deur bekende sportpersoonlikhede aan te stel en verskeie sportspanne, liefdadigheidsorganisasies en ander gebeurlikhede te borg. Die Fidentia groep het skynbaar van krag tot krag gegaan onder die leierskap van Mnr. Arthur Brown, ondersteun deur sy senior bestuurspan waarvan niemand meer prominent as Mnr. Graham Maddock. Die groep se hoofbesigheid is Fidentia Asset Management (FAM) wat gedurende 2003 tot 2004 twee van die grootste kliënte in Fidentia se geskiedenis verseker het. Gedurende 2003 het die “Transport Education Training Authority (TETA)” R200,3 miljoen by FAM belê en R1,2 biljoen van die “Mineworkers Provident Fund” is in 2004 onder FAM se bestuur geplaas. Die Fidentia group is op 27 Maart 2007 onder finale kuratorskap geplaas gebasseer op verslae deur die destydse voorlopige kurators en die Finansiële Dienste Raad wat beweer het dat hul inspekteure nie R680 miljoen van die amper R2 biljoen onder FAM se bestuur kon opspoor nie. Die analise van die Fidentia saak soos dit ontvou, sal wys dat sonder behoorlike strategiese beplanning en bestuur, asook die voldoening aan voorstelle van goeie korporatiewe bestuur belanghebbendes se blootstelling aan risiko kan verhoog. NOTA: Die inligting beskikbaar tot einde Augustus 2007 is ontleed.

Few studies have examined the impact of portfolio concentration upon the realised volatility of stock index portfolios, such as the FTSE 100. Instead, previous research has focused upon diversification across industries, across geographic regions and across different firms. The present study addresses this imbalance by calculating the daily time series of four concentration metrics for the FTSE 100 Index over the period from January 1984 through March 2003. In addition, the value weighted variance covariance matrix (VCM) of daily FTSE 100 Index constituent returns is decomposed into four sub-components: two from the diagonal elements and two from the off-diagonal elements of the VCM. These consist of the average variance of constituent returns, represented by the sum of diagonal elements in the VCM, and the average covariance represented by the sum of off-diagonal elements in the VCM. The value weighted average variance (VAV) and covariance (VAC) are each subdivided into the equally weighted average variance (EAV) the equally weighted average covariance (EAC) and incremental components that represent the difference between the respective value-weighted and equally weighted averages. These are referred to as the incremental average variance (IAV) and the incremental average covariance (IAC) respectively. The incremental average variance and the incremental average covariance are then combined, additively, to produce the incremental realised variance (IRV) of the FTSE 100 Index. The incremental average covariance and the incremental realised variance are found to be negative during the 1987 crash and the 1992 ERM crisis. They are also negative for a substantial part of the study period, even when concentration was at its highest level. Hence the findings of the study are consistent with the notion that the value weighted, and hence concentrated, FTSE 100 Index portfolio is generally less risky than a hypothetical equally weighted portfolio of FTSE 100 Index constituents. Furthermore, increases in concentration tend to precede decreases in incremental realised volatility and increases in the equally weighted components of the realised VCM. The results have important implications for portfolio managers concerned with the effect of changing portfolio weights upon portfolio volatility. They are also relevant to passive investors concerned about the effects of increased concentration upon their benchmark indices, and to providers of stock market indices.

Despite the widespread adoption of Internet banking, no guidelines exist on what functionality the techno-savvy Generation-Y customer segment (20–37 years) expects from Internet banking websites. This research investigated the functionality that South African Generation-Y customers require from this transacting platform. A user-centred design philosophy with a mixed method research design was used. The technological characteristics of Generation-Y, abstracted from the literature, were aligned with functionality trends of future Internet banking websites to formulate an initial list of Internet banking functionality guidelines. These were evaluated using a survey and interviews, and were also used in a heuristic evaluation of the Internet banking platforms of five South African banks. The findings were integrated to synthesise functionality guidelines. A visual representation of these guidelines was constructed as wireframes for evaluation by Generation-Y users. This study makes a contribution by providing a validated list of Internet banking functionality guidelines for Generation-Y banking customers. / College of Engineering, Science and Technology / M. Tech. (Information Technology)

I investigate the effects of requiring the audit engagement partner (EP) signature and individual EP’s quality on information asymmetry, analysts’ forecast errors and forecast dispersion. I predict and find that, ceteris paribus, there is a significant decline in information asymmetry, analysts’ forecast errors and forecast dispersion from the pre- to post-EP signature period in the UK over both of short-term (e.g., 2008-2010) and long-term (e.g., 2004-2014). These findings hold when using a control sample approach and a different proxy for the information asymmetry, which indicate that my results are not likely due to the effect of concurrent events and correlated omitted variables. These findings provide timely and important empirical evidence to the ongoing debate about whether the Public Company Accounting Oversight Board should pass a similar requirement in the U.S. / Includes bibliography. / Dissertation (Ph.D.)--Florida Atlantic University, 2016. / FAU Electronic Theses and Dissertations Collection

Made available in DSpace on 2015-12-03T18:33:02Z (GMT). No. of bitstreams: 1 Oswaldo_Matarossi_Filho.pdf: 238781 bytes, checksum: b0b5fa36841bc710fdc58e79ad98de1a (MD5) Previous issue date: 2003-12-18 / This research aims at describing the product and services development in banking organization, carrying out an evaluation of customer's value chain effects. The work also contemplates an institutional framework of the Brazilian financial system analysis and an overview of the recent development at Brazilian financial market competition. In this study, a bibliographic documental research methodology was used considering a case study development, which allowed systematize its theoretical basis and aims. Through the analysis carried out, it shows the Bank developing and transforming products as a way of achieving its targets considering two parameters: institutional and organizational. / Esta pesquisa teve como objetivo analisar e contribuir com o entendimento do processo de desenvolvimento e introdu????o de produtos e servi??os em entidades financeiras (Banco), o que implicou na avalia????o dos efeitos na cadeia de valor do cliente. O trabalho contempla ainda a an??lise do arcabou??o institucional que vigora no Sistema Financeiro Nacional e a recente evolu????o das condi????es da concorr??ncia na ind??stria de servi??os financeiros no Brasil. Para realiza????o do estudo foram utilizados predominantemente a pesquisa documental bibliogr??fica, sendo complementada por meio de desenvolvimento de Estudo de Caso, que permitiram sistematizar o pressuposto te??rico e os objetivos do estudo. Por meio da an??lise desenvolvida, comprova-se que o Banco desenvolve e modifica produtos como um dos meios para atingir estrat??gias de sua organiza????o, e que esse desenvolvimento da estrat??gia se d?? segundo dois par??metros: o institucional e o organizacional.

The goal of the study was to develop a framework for public relations practice in the financial services sector. The study was based on four key objectives. In line with the first objective, chapters 2 and 3 reviewed how public relations was conceptualised and practiced by reviewing literature. Three worldviews, the North American, the European and African worldviews, were discussed by looking at their similarities and differences. The literature also reviewed the development of public relations from these three perspectives. Literature revealed that different models influence practices in different cultural settings and that effective PR practice cannot be premised on a single model. Objectives 2, 3 and 4 empirically analysed the conceptualisation and practice of public relations in terms of the purpose (models) and roles (activities). The study employed the one-on-one interview technique to gauge the views of communication managers in the financial services sector. The result of the study was discussed and analysed in chapter 5. Findings showed that PR was not strategic and mostly had a marketing orientation. Significantly, most of the communication managers had marketing backgrounds, which invariably affected their concept and practice of public relations. Another key finding was that public relations measurement and evaluation was based on outputs and outtakes more than outcomes. Moreover, methods used were mostly unscientific in nature. PR strategies were based on audience satisfaction surveys rather than perception and attitudinal research. Practitioners are not part of the dominant coalition. The findings showed that practitioners faced a number of challenges that compromised the effectiveness of their work, including management’s value and perception of their work, lack of in-depth knowledge about the profession itself, budgetary constraints and inability to sometimes influence decisions because of their position in the organisational structure. The findings of the study, together with findings in the literature, were used to develop a framework for effective PR practice in the sector. The framework differs in certain aspects from some of the recommendations made by literature for excellent public relations practice. The framework also incorporates recommendations aligning to the reality of public relations practice within the Ghanaian cultural and political environment. / Communication Science / D. Litt. et Phil.(Communication)

Thesis (MComm)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: In response to globalisation and competition, today’s organisations are changing at an accelerating and radical pace. A review of the literature revealed that the demanding and often repetitive nature of work increases employees’ turnover intention. This is generally attributed to a lack of employee engagement. This trend is especially evident within the South African financial services industry. Without a functional workforce, no organisation can survive. Therefore organisations within this sector need to establish a balance between the provision of meaningful work, and profitability. The primary objective of this research study was to develop and empirically test a structural model that elucidates the antecedents of variance in turnover intention and employee engagement among employees employed by audit firms operating in the South African financial services industry. In addition, this research study investigated whether employees employed by these audit firms engage in job crafting to modify their work environment (i.e. job resources, personal resources and job demands, as illustrated in the Job Demands-Resources model) (Demerouti, Bakker, Nachreiner & Schaufeli, 2001) to cultivate meaningful work that decreases turnover intentions while increasing employee engagement. In this research study, an ex post facto correlational design was used to test the formulated hypotheses. Quantitative data was collected from 391 employees employed by audit firms operating in the South African financial services industry. Data was collected specifically for the purpose of this research study. Participation was voluntary. A self-administered web-based survey was distributed electronically to the participants. The data collected was strictly confidential and anonymous. The survey comprised seven sections. The first two sections measured the participants’ biographical and employment information. Subsequent sections measured specific latent variables using valid and reliable measuring instruments. These instruments include the Utrecht Work Engagement Scale (UWES-9) (Schaufeli, Bakker & Salanova, 2006), the Turnover Intention Scale (Moore, 2000), the Psychological Meaningfulness Scale (May, Gilson & Harter, 2004), the Job Crafting Scale (Tims, Bakker & Derks, 2012), and the six-item Proactive Personality Scale (Claes, Beheydt & Lemmens, 2005). Data was subjected to a range of statistical analyses. The findings shed light on the seriousness of turnover intention and the lack of employee engagement among employees employed by audit firms operating in the South African financial services industry. It provides South African industrial psychologists with much needed insight into the presenting problem. With reference to the highlighted managerial implications of the research findings and the recommended interventions, industrial psychologists can ensure the retention and engagement of employees. / AFRIKAANSE OPSOMMING: Globalisering en mededinging veroorsaak dat hedendaagse organisasies al hoe vinniger en ook ingrypend verander. ’n Oorsig van die literatuur het getoon dat werknemers se voorneme om van werkplek te verander al hoe meer toeneem weens die veeleisende en dikwels herhalende aard van die werk wat hulle doen. Hierdie voorneme is veral in die Suid-Afrikaanse finansiële diensbedryf sigbaar en kan toegeskryf word aan ’n gebrek aan werknemerbegeestering. Geen organisasie kan egter sonder ’n funksionele werksmag oorleef nie. Gevolglik moet organisasies in hierdie bedryf sorg dat hulle ’n balans tussen betekenisvolle werk en winsgewendheid skep. Die hoofdoel van hierdie studie was om ’n strukturele model te ontwikkel en empiries te toets wat lig werp op die voorkoms van verskille in die voorneme om van werkplek te verander en werknemerbegeestering onder werknemers in diens van ouditeursfirmas in die Suid-Afrikaanse finansiële diensbedryf. Daarbenewens het hierdie studie ook ondersoek of werknemers in hierdie ouditeursfirmas betrokke is by werksfatsoenering om hulle werkomgewing aan te pas (m.a.w. werkshulpbronne, persoonlike hulpbronne en taakeise, soos in die Job Demands-Resources model aangedui) (Demerouti, Bakker, Nachreiner & Schaufeli, 2001) om betekenisvolle werk te skep wat hulle voorneme om van werk te verander, kan verminder en terselfdertyd werknemerbegeestering kan aanvul. ‘n Ex post facto korrelasie-ontwerp is gebruik om die geformuleerde hipoteses te toets. Kwantitatiewe data is by 391 werknemers in diens van ouditeursfirmas in die Suid-Afrikaanse finansiële diensbedryf ingesamel. Die data is spesifiek vir hierdie studie ingesamel. Deelname was vrywillig. ’n Selftoegepaste webgebaseerde opname is elektronies onder die deelnemers versprei. Die dataversameling was streng vertroulik en anoniem. Die opname het uit sewe afdelings bestaan. Die eerste twee afdelings het die biografiese en werksinligtiging van die deelnemers ingesamel. Die daaropvolgende afdelings het spesifieke latente veranderlikes met behulp van geldige en betroubare instrumente gemeet. Hierdie instrumente was die Utrecht Work Engagement Scale, UWES-9 (Schaufeli, Bakker & Salanova, 2006), die Turnover Intention Scale (Moore, 2000), die Psychological Meaningfulness Scale (May, Gilson & Harter, 2004), die Job Crafting Scale (Tims, Bakker & Derks, 2012), en die ses-item Proactive Personality Scale (Claes, Beheydt & Lemmens, 2005). Die data is aan ’n reeks statistiese analises onderwerp. Die bevindinge werp lig op die erns van voorneme om van werkplek te verander en die gebrek aan werkenemerbetrokkenheid onder werknemers in diens van ouditeursfirmas in die Suid-Afrikaanse finansiële diensbedryf. Dit bied aan Suid-Afrikaanse bedryfsielkundiges belangrike insae in die tersaaklike probleem. Bedryfsielkundiges kan, met verwysing na die aangeduide bestuursimplikasies van die bevindinge en aanbevelings van hierdie studie, die behoud en begeestering van werknemers verseker.

The strategic importance of a well-established banking sector in an economy and the pivotal role trust plays in this sector is well-documented in banking literature. Given this accepted importance of trust, it is surprising that some banks are still exhibiting more signals of distrust than of trust as expected, shattering consumer trust and confidence in the process. In response, governments, through their central banks, occasionally resort to implementing policies that focus heavily on regulation and control. These interventions are usually designed to restore consumer confidence in the banks’ future behaviours as well as providing assurance that exchanges taking place within a banking sector are safe and secure. Surprisingly, consumer trust and confidence are still elusive in some banking sectors, despite all these measures. This mixed-methods, sequential explanatory study explores the concept of trustworthiness by investigating trustworthiness dimensions of banks that drive consumer trust in the Zimbabwean banking sector that is experiencing low trust and confidence levels. To fulfil the objectives of this study, a quantitative research approach (survey) was first employed to explore bank customers’ trustworthiness perceptions on a sample of 400 customers. A qualitative research approach (semi-structured interviews), was then employed to gain a better understanding and clarification of the survey findings. Structural Equation Modeling (SEM) was applied to determine the statistical model that sought to explain the relationship among the variables. Hypotheses were then tested between model constructs to determine their influence on one another. Study findings revealed that shared values, structural assurance and integrity (consistency) are the trustworthiness determinants with the highest positive influence on bank trustworthiness. A negative relationship was found between communication and bank trustworthiness. Competence was found to have an insignificant correlation with trustworthiness. Additionally, both behavioural intentions and affective commitment (relational outcomes) were found to positively influence bank trustworthiness. This study has brought to light how trustworthiness of banks is perceived in a banking sector that is not only experiencing a confidence crisis but also in a country that is experiencing an uncertain economic and political environment within an African banking context. The final model presented in this study can be applied in trustworthiness studies in the financial services sectors, particularly in sectors that are operating in similar uncertain environments. In order to reignite consumer confidence in the banking sector, the RBZ is advised to set tighter corporate governance measures that can put a stop to activities such as insider lending that end up defrauding depositors within the banks. It is also imperative that departments such as Treasury, Risk and Credit within the RBZ and in banks are managed by competent personnel who adhere to the prudential standards of banking. Bank custodians are advised to continuously exhibit trustworthiness behaviours because customers’ trust and confidence can only be restored if there is evidence of sincere behaviours that are regarded as reflecting a trustworthy image. Planning for peak periods in terms of cash and personnel, to avoid prolonged queues and cash shortages that have become an everyday occurrence in the Zimbabwean banking sector is one way banks can improve trust and confidence. Banks should also consider providing services such as financial hardship advisory services and extended loan repayment options that can go a long way in not only assisting their customers to manage their debts, but also to show that banks are taking into consideration their customers’ current challenges and needs. Key stakeholders in the banking sector are also encouraged to share information on key developments integral to the smooth functioning of the banking sector. This information should then be disseminated to the banking public in a unified voice to avoid distortion of information that leads to financial anxiety and further erosion of trust. In the absence of formal timeous communication, bank customers may resort to relying on the grapevine and engage in speculative behaviours which can be very destructive and difficult to correct. / Business Management / D.B.L.

According to the Financial Sector (FS) Charter, in August 2002, at the NEDLAC Financial Sector Summit, "the financial sector committed itself to the development of a Black Economic Empowerment (BEE) charter. It made this commitment, noting that: "Despite significant progress since the establishment of a democratic government in 1994, South African society remains characterised by racially based income and social services inequalities. This is not only unjust, but inhibits the country's ability to achieve its full economic potential. BEE is a mechanism aimed at addressing inequalities and mobilising the energies of all South Africans. It will contribute towards sustained economic growth, development and social transformation in South Africa. Inequalities also manifest themselves in the country's financial sector. A positive and proactive response from the sector through the implementation of BEE will further unlock the sector's potential, promote its global competitiveness, and enhance its world class status". Parties of the Financial Sector Charter agreed on the seven pillars below: 1) Human resource management - provide resources to develop skills of black people with the aim of increasing black participation in all levels of management in the sector. 2) Procurement policies - implement a targeted procurement strategy to enhance BEE. 3) Enterprise development - improve the level of support provided to BEE companies in all sectors of the economy. This would be achieved through skills transfer, administration and technical support. 4) Access to financial services - provide affordable financial services to the previously disadvantaged groups and making sure financial services are accessible to these groups. 5) Empowerment financing - work closely with government and government financial institutions to increase resources for empowerment financing. 6) Ownership in the financial sector - 25% of shares in each party of the FS Charter should be owned by black people by 2010. 7) Corporate social investrnent (CSI) - Each financial institution will have to spend 0.5% of their after-tax profit on corporate social investment projects. The projects should be targeted at black groups with a strong focus on transformation. The research evaluates the applicability of Lewin's Force Field Analysis (a change management model) in the implementation of the Financial Sector Charter at Standard Bank of South Africa. It attempts to achieve this by looking at how the Financial Sector Charter is being implemented at Standard Bank. The research looks at three main areas: 1) The "context" of the research problem, by seeking to understand Standard Bank's understanding of the FS Charter, the importance of implementing the FS Charter by the bank, the progress made thus far in the FS Charter implementation and comparison to the BEE scorecards of the other three main bank. 2) The "process", i.e. how the FS Charter is implemented in the bank, the driving and restraining forces of successful implementation of the FS Charter and the lessons learnt. 3) The "outcome" , i.e. benefits of implementing the FS Charter and what could be done to ensure that change management processes are successfully implemented. Personal interviews were used to discover other valuable information which was not available on the bank's published documents, and other related sources such as the Financial Sector Charter document. The sample size for the study was ten Standard Bank employees from different areas of the bank who are either senior managers or directors, in the bank. Internal publications available on the Standard Bank intranet such as the bank's employment equity plans, and the bank's sustainability reports from 2004 to 2011 (Standard Bank, 2004-2011) were analysed for the purpose of the study. The researcher also analysed public documents such as the bank's annual financial reports, bank's equity reports and internal publications on related topics of the research question. Lewin's Forces Field Analysis (FFA) points out that in any environment where change is required; there are both driving and restraining forces that influence the implementation of a change programme. The FFA is a valuable change management tool at trying to transform the behaviour of an individual, and this will lead to transformation of groups and, ultimately the organisation. It also helps to establish the balance between the driving and restraining forces of the change programme. Lewin's (1951) theory put forward the idea that change occurs in three stages: the first stage of change is unfreezing; the second stage is moving and lastly, the third stage is refreezing. In the unfreezing stage, the bank's change management initiatives would need to be directed at giving the individuals a desire and motivation to be ready and open about a planned change initiative. This could be achieved by clearly communicating why change is important, benefits of change and the compelling reasons for change. In moving, the bank would need to give support and confidence to the people affected by change in order to start accepting and buying-in to new perspectives, which enable them to realise that change will improve the current situation. In the refreezing stage, the bank would need to ensure that new patterns of behaviour are reinforced. This will ensure that the changes are applied in everyday business, and this helps create a sense of stability, where those affected by change feel comfortable and confident with the new approach of doing things. The research concludes that managers should recognise the sensitivity around transformation, and should always try to ensure that change management initiatives directed at transformation are unifying, fair and transparent. This should be done to avoid a situation where an employee (or prospective employees) and other stakeholders feel under-appreciated or overlooked because of their gender or race. This demands a carefully crafted and implemented change management programme, whose results will not only unify the bank's employees, but also create a competitive edge for the bank. Lewin's Force Field Analysis (FFA) model is a change management tool that could be used to produce such results.