Sustainability In The Portuguese Banking Industry: Challenges And Opportunities

Challenges in Attaining Sustainability in the Portuguese Banking Industry

Question:

Describe about as a change agent and place shaper in the bank –a case study of BancoEspirito Santos?

This research paper had the main concentration on the Portuguese banking industry where the intense competition had become the main issue for the management. The change in the shape of the banking industry was the main reason then as the fall of the second largest banking system was the pain in the back for the country after getting relieve from the economic crisis in 2011. The project managers of the bank failed to grow the intention of sustaining the business through guiding the business with maintaining the regulation of the Portugal Central bank [Bank of Portugal] as well as the Basel III guidelines. The issue of the change agent in the banking system is an important issue and the resolution for this is intended towards changing and shaping the leadership style. The role of the managers is not only limited to change the system, but also finding the way of applying the changes in practice. The practice of regulation, credit policy and the reducing of conflict of interest in the management using good governance practice are the main target of the banking sector to gain the sustainability in business. In the course of changing the environment of the banking business, there are several responsibilities are necessary to be performed. The managers are responsible in strategizing the policies of the banks to change the system of the operation due to change in the regulation and needs. Further, the technology providers for changing the system were also the resource provider in a changing environment.It was also expected that banking industry would grow further in upcoming years. On the other side, the regulation of banking industry has been changingfrom time to time and the strict regulation is creating huge impact on this industry. Various reports say that banking industry is facing huge challenges for the establishment of equilibrium between the return on equity and the acceptable volatility.

For this current study, the researcher had taken up the descriptive research design, which allowed the researcher collecting the data and information from the different areas of study relating to this topic. The influencing factors of the banking business in Portugal were based on the profit margin and the customer relationship. Sustainability practice in banking industry has been consideredone of the most important factors in these days due to high credit default. The capacity of the change agents has been the basic construct always for the success of the changing environment and the shaping the changes within organization. The change agent might change the system of working due to change in strategies of the company. Thereby, the customized improvement and capacity building was the main contributor in monitoring the changed system by the change agent.

1.1 Background of study

The current context of this research paper has the main concentration on the Portuguese banking industry where the intense competition has become the main issue for the management. The current trend of the banks to reduce its cost in operation as well as enhancing the credit position has made to change their strategy of core operation. The Portuguese banks have started to change their strategy of operation after the post crisis situation of economy. The banking crisis in the country in 2014 started due to the fall of BancoEspiritoSanto for heavy lending using the stock of the bank as collateral. The change in the shape of the banking industry was the main reason then as the fall of the second largest banking system was the pain in the back for the country after getting relieve from the economic crisis in 2011. Sunk in huge credit and bad loan for the bank made it insolvent during the period where it was unable to repay its debt. However, the fall of this bank has provided other banks like MilleniumBancoComercialPortugues (BCP) and CaixaGeral de Depositos (CGD) chance of increasing their market share in the country(Liodakis, 2010). However, the desperate fall of the peer competitor in the country has made them cautious in generating fund as well as taking loan from the open market. Theregular violation in leveraging to run the business of the bank and its associated company by mortgaging the shares of the bank in the market makes it defaulter in repaying its credit to the creditors (López, Garcia and Rodriguez, 2007). The ill application of the funds and the equity of the bank by the family made the bank insolvent. The bank failed to show and maintain any sustainability from their move for future. The project managers of the bank failed to grow the intention of sustaining the business through guiding the business with maintaining the regulation of the Portugal Central bank [Bank of Portugal] as well as the Basel III guidelines (Mihaela, Ciutacu and Săvulescu, 2014).

Strategies Adopted by Project Managers

The fall of the BancoEspirito Santos is the proof and the trigger line for the project managers of the other banks for delivering sustainability. The ex-officers of the bank were arrested for violating the regulatory mandates in doing the business of the bank. During the development of the sustainable program in the bank, the project managers get the responsibility of providing a direction towards suitable business development. In this context, the banks in the Portugal have commenced some of the new action in their operation to enrich their sustainability. As stated by Quinlivan (2008), banking industry is the backbone of the economy of any country. It provides and maintains the flow of liquidity. Thereby, the change in the banking system of the country towards the sustainability is required. The activities of the project manager are associated with evaluating the projects for the future development of the financial condition of the banks. In this context, the managers need to shape the change in the banks as there are many rumors as well as negative impression for the Portuguese banks.The change in the banking industry of the country is necessary as the confidence of the economy can be restored through it. The banking service is considered one of the most vital services for the public utility and transaction system (Shahzad and Sharfman, 2013). Thereby, the shape of the business sector can be changed through changing the system of banking in Portugal.

1.2 Problem statement

The problem of the banking industry was found in the previous discussion where the sustainability attaining is the main concern for the managers. In this regard, there are three main obstacles, which need to be overcome by the managers in operational practice. The practice of regulation, credit policy and the reducing of conflict of interest in the management using good governance practice are the main target of the banking sector to gain the sustainability in business. For achieving these three targets, there will be many obstacles on the way towards the sustainable practice. During this situation, the managers of the banks need to apply some strategies for changing the system and shaping the existing situation of the banks. The process of changing the expositing system and incorporating the new Basel III system in maintaining the liquidity as well as the credit system in the bank is the main problem statement in this context (MkNelly and Stack, 1998).

1.3 Rationale of the study

The issue of sustainability on the business is the most viable issue now a day. In this regard, the sustainability of the banking business is one of the most important issues in the business of the banks. The sustainability of the banks helps the economy to sustain in the adverse situation. It also helps in delivering a transparent and credible system in the perspective social changes in the community. The change in the working style and the system of the banking is possible by putting the leadership style in the right dimension. The systematic failure in the banking at the time of economic crisis in Europe, the analysts have sought for the changes in the style of leadership through changing the management.

Importance of Leadership Styles

The issue of the change agent in the banking system is an important issue and the resolution for this is intended towards changing and shaping the leadership style. The main features of resolving this issue is to guide through the three different dimensions of leadership style in changing the banking system. The role of the leadership style for the managers in the bank might change the policy of the banking operation as well as the sustainability of the business. In this regard, the transformational leaders can transform the new system and the same can be maintained by the transactional leadership. The technical role among the mangers is helpful in a way to deliver the system the required changes with the strengthening the shape of the system. The role of the managers is not only limited to change the system, but alsofinding the way of applying the changes in practice. In this regard, the value proposition towards the customers and the society is also a concerned matter (Welford, 2007). Therefore, shaping the working-place is concerned with the changed system as well as with the provide direction for future to attain sustainability.

1.4 Research questions

The contextual matter has many questions. However, this research has gone through the following questions mainly as follows –

1) What are the roles of the project manager in changing and shaping the rogue banking industry of Portugal?

2) How the role of the project manager can influence the performance of the banks and other factors in delivering the sustainability?

3) What are the relationship between sustainability and the change agents’ capability in banking sector?

1.5 Research objectives

The objectives of the research are designed according to the questions of the project. After watching the questions in the above section, the objectives of this study are determined as follows:

1) To critically analyze the attributes of the role of the project manager in changing and shaping the banking industry

2) To critically find out the ‘influencing factors’ of the role of the project manager in delivering sustainability in banking business

3) To make a critical analysis to find out the relationship between the change agents’ capability and sustainability banking business

4) To recommend a suitable action plan for attaining sustainability in banking business for changing the system of the core operation of the banks

1.6 Summary

In this chapter, the background information of this research paper has been discussed. The issues of this topic are clearly stated here and the resolution of the problem is touched too. Further, the recent development of the issues regarding the BancoEspiritoSantos and its mismanagement is also cited here. The chapter has explained the questions and the contemporary objectives for this job. In this regard, the problem statement of the research and the rationale is also discussedin this chapter.

The chapter will reveal the contextual theories in change management and change agent. The role of the change agent and its importance in shaping the sustainability of business will be discussed too. Further, this chapter will also express the theoretical models of the change agent and how it can shape the banking industry. The role of the change agent the relationship of the role of the leadership style of the managers in the banking industry will be discussed here too. Additionally, the changing environment of the financial business, the impact of the change agent with maintaining the contemporary regulation of BASEL III will be discussed here too. The changes required in the business of bank – reasons and the effect will be discussed here too (van der Heijden et al. 2012).

Conclusion

According to Akinyemi (2014), economy of the country is specifically depended on the role of the banks as well as on their sustainability approach. Chambers (2010) found that banks mobilize the flow of money in the nation. Therefore, changes in the banking industry have bigger concern of change in the economy. The dire change in the global economy of connecting all the countries with globalization has madethe credit system vulnerable for all the economy and the heat of one region is also felt in other regions (Akinyemi, 2014). Thereby, it is desired to change the system of the banks on regular basis as it may help the industry to survive the strict regulation as well as the macro-economic uncertainties. Macro-economic uncertainties are the main reasons for accumulating the changes in the banking sector, as the cause is most probably the arguable best reason to describe the requirement of shield of protection in financialbusiness (Linda MusacchioAdorisio, 2008). The sector hasto encounter other challenges like retention of the talented people and change in the needs of the customers. In this regard, the challenge of competition from the peers company is also a great concern for changing the system of the banks to reflect the extraordinary operational outcome from the projects. The taste of the customers is also a concerned issue in this regard. As stated by Li and Ma (2014), the taste of the customer has great impact on the changes in the business. Itis also observed from the research of Bateman (2008) that young generation of people is working with the modern system of banking process. Thereby, the changes are necessary to be made for meeting the demand of the customers from the banking sectors. The development of people is also necessary so that they can cope with the changes made in this context. Akinyemi (2014) observed that developing talent is difficult for the banking companies. However, they need to comply with the policy of retaining them. In this regard, the changes in the system are necessarily to be followed as the implementation of the changes cannot be done without following that direction (Kopnina, 2015). The development of the existing people is required too to meet the implementation criteria of the changes in the system. It also fulfills the gap of the deficit made from the changes and the shaping the business model of banking (Chambers, 2010).

2.2.1 Tighter Macro-Economic Environment and Regulatory Framework

It has found that there is potential growth of economy of developed countries as well as growth rate is high greater than the anticipated growth rate. According to the to the forecast report of economists, developing markets will also achieve high growth in upcoming years. Statistical report says that the growth of banking industry is so high in past few years (Wei and Kong, 2014). It is also expected that banking industry will grow further in upcoming years. So, banking industry has huge opportunities to expand their activities globally. But, for the expansion, banking industry requires more capital and liquid assets. Therefore, they need to focus on the arrangements capital and liquid assets to take the advantage of economic growth (Chen, 2014). On the other side, the regulation of banking industry is changing time to time and the strict regulation is creating huge impact on this industry (Kontic and Kontic, 2014). It is also expected that regulatory body will impose further strict regulation on banking industry. Various reports say that banking industry is facing huge challenges for the establishment of equilibrium between the return on equity and the acceptable volatility. So, it is required to transform and change the current operational structure and infrastructure (Millar et al. 2012). They need to develop more innovative models and infrastructure to sustain in the industry. Modern advance technology should be developed to comply with the tighter economic environment and regulatory framework (von Hauff and Nguyen, 2014). It has also observed that certain reputed and big banks have adequate level of cash and capital assets for implementing the changes in infrastructure and operational activities. Butmedium size and small banks are facing huge challenges related to the transformation of their activities. Culture can also be considered as the important factor which is creating huge challenges for implementing the changes. People are not agreed with the changes of infrastructure and functional activities. The development more advance technology and new functional activities can be resisted by them in the future (Chambers, 2010).

References

Banking can grow at rapid rate by offering various benefits to the peopledespite having huge challenges, (Hur, 2010). They need to understand about their business model and should identify their weakness. After identifying the weak, they can impose necessary changes. They also need to understand about the requirement of the people to give better service for the sustainability. They should focus on the regulatory framework and should employ good governance for improving the performance (Tazhitdinov, 2013).

2.2.2 Increasing level of Competition in the Banking Industry

The competition in banking industry is increasing day by day. It is very difficult to compete by the banks without good quality of service and innovative business models. In recent years, several new private banks have entered into market with wide range of services. So, new banks are creating huge pressure to the existing bank. There is also threat for entering new banks in the industry in upcoming years. According to the various report, it has found that overcapacity is creating negative impact (Herzig et al. 2012). On the other side, interest spreads are decreasing. Medium and small sized banks are facing huge challenges to operate in the tough environment. Large players are trying to buying these small banks for expanding their operation. So, it affects the performance of banking industry (Chen, 2014; Tainio, Santalainen and Sarvikivi, 1991). It has also found that the amount of assets in the balance sheet of bank is increasing day by day. This decreasing trend of assets will create huge pressure to sustain in tough environment in the future. At present, regulation has also limited the access of inter-bank funding (Partington, 2002). On the other side, some banks of developing markets has reported adequate amount of assets in the balance sheet, which demonstrates healthy financial position (Kick and Prieto, 2014). One reason behind this is that government provides support to these banks. The second reason is that there is high demand in the domestic market (Cohen, 2010). Therefore, it can be said that there is huge opportunities for new players in the developing marketing for expanding the banking service. But they should identify and measure the potentiality of their model for competing and sustaining in the global environment. Banking sector also needs to formulate and implement competitive strategy for improving the performance and for obtaining sustainable growth (Guerreiro, Pereira and Frezatti, 2006). They need to increase their efficiency in order to manage their liquidity and should provide low cost service to the client for expanding the operation. On the other side, they can also offer premium service to certain clients for distinguish or differentiate their service offerings (Cohen, 2010). In current tough environment, banks are failed to distinguish and differentiate their products and services from each other, which is crating impact on the market share. The following model can help the banks to sustain in the industry in the future (Goddard et al. 2010).

The changing environment of the banking business needs a pivotal up lift in the system of operating the daily operation. According to DarškuvienÄ— and BendoraitienÄ— (2013), changes in the system of the operation of the banks are evitable due to changes made in the regulatory system. The regulation of asset-liability management and the capital adequacy ratio is the main input in this regard. The changes in these two inputs have many impacts on the changes in the system of the working policies of the banks. However, these changes cannot be achieved without changing the appraisal method of the projects (Giammalvo, 2015; Escobar, 2011). Therefore, the role of the project managers as a change agent is really important in this context. As stated by Sewchurran and Barron (2008), the initiation of the change starts from the needs for changes. The need is defined as the change of taste due to change in technology and time (Giovannoni, Quarchioni and Riccaboni, 2014). The taste of the customers is normally governed by the availability in technology. Thereby, the changes made in the system and strategies of the banks are needed to be in line with meeting the gap in the existing system. According to Figuières, Guyomard and Rotillon (2010), performance improvement is the basic motive of changing system of a business. In banking industry, the changing system and strategies is mainly driven by the change in the regulatory mandates. Giovannoni, Quarchioni and Riccaboni (2014) observed that after the implementation of Basel, the major changes in banking industry has happened. However, the role of the managers is limited for implementing those changes. In this due course, the changes were mainly influenced by the regulation and markets (Fang et al. 2013). However, the application of technologies in banking industry has made the changes vast in order to maintain the competitiveness. Lombardi (2013) shows in his scholarly research that the strategies considered for acquiring the competitiveness in the peer-industry have enhanced the efficiency in operational aspects. Thereby, the change management and thus its agents are vital concept in shaping the changes in practice (Furnham, 2002). The following figure shows the core competencies of the change agent to shape the changes in the business:

Figure 1: Need-based project management to implement the change

Source: (Mascia, 2014)

From the above figure, we can see that project managers worked to identify the changes required in the system to gain the momentum in business. Thechanges in the system are diagnosed through comparing the performance with the benchmarks set by the management (DarškuvienÄ— and BendoraitienÄ—, 2013). In this regard, the gap is measured for the individual as well as accumulated system of the banks. The opportunity through changing the existing system is evaluated in this moment. The main problem is the resistance from the employees at the time of changing (Sewchurran and Barron, 2008). As observed by Sufian and Majid (2009), change is possible in an organization by changing the employees first. The service oriented industry needs to change its people to change the tactics of serving the people. The main essence comes from the stakeholder management. As stated by Mascia (2014), the stakeholders are the important in changing system of a business. At the time of changing the system, it is desired to consider the stakeholders to be engaged in the changes to cope with the new system in future. Therefore, channel communication and the promotion are the best policy in this regard. The change needs to be monitored as thefeedback from the stakeholders needs to be assessed. The changes can be controlled through comparing the outcomes from the changes with the benchmark and the necessary rectification can be made in this regard (Eichengreen, 2010).

2.3.1 Role of a project manager as a change agent

In the course of changing the environment of the banking business, there are several responsibilities are necessary to be performed. It started from the responsibility of changing the strategy of the company and ends at the stakeholder management. Additionally, providing resources in this regard is also the duties of the change agent. The managers are responsible in strategizing the policies of the banks to change the system of the operation due to change in the regulation and needs. However, the resources are also designed to support the process of change by the managers (Mihaela, Ciutacu and Săvulescu, 2014). As observed by Moseley (2011), changing the individual colleagues in the workplace is the responsibility of shaping the employees for changing the system. It helps in achieving the change in order to an appropriate shape for implementing the change in the business of the banks. The resource providers of the change in banking business are technology vendors as well as the regulators of the same industry (Dubauskas, 2011). Here, the changes made in the decision of Basel Committee are the main input for resource from the regulation in European context. Further, the technology providers for changing the system are also the resource provider in a changing environment. As stated by Quinlivan (2008), the role of the project manager is not bounded to idealize the resources from the providers only. The knowledge is also a resource provider in this sense. The manager guides the employees and the customers throughout the project for shaping them to cope with the new system and environment of the business (Dorobantu, Nartey and Henisz, 2013).

In this chapter the researcher is going to present the process, procedure and the technique that the researcher seemed to have adapted in order to conduct that particular research study. The researcher mentions the points that has been taken which helps in rendering a successful research. It may be wise to speak after Martocchio (2004), research methodology is the chapter which speaks about the original framework that is used by the researcher for the orientation of the study. It can better be stated as a plan which identifies the decision making process. For this specific study present researcher is also going to delineate the process adapted so far.

Research onion appears to be the stages that a research study needs to follow coherently. Ketchen  and Bergh (2004) mentioned that research onion is the peeling of the different layers that a particular research work takes up. It also sheds light on the different sub sections that the researcher may have taken up for consideration of the study in a better way. It also is a quite sophisticated approach for the segregation of the time for the different works needed to be adapted for successfully doing the study. (Coleman and Briggs, 2002) has classified a step by step research progress approach, specifically, research philosophies, research strategies, research choices, time horizon, research techniques and the research procedure. The following figure projects light on the different stages.

Figure 2: Research Onion

(Source: Saunders et al. 2009)

For this particular study the research seems to have tried to follow all of these stages and has been delineated in this particular chapter.

Application of research philosophy renders in describing the study properly and in detail. (Ketchen and Bergh, 2004) points out that with research philosophy better understanding of the research topic and in detail can be possible. What type of idea and conception is needed for the successful implementation of the research techniques is guided by research philosophy. Bendat and Piersol (2011) in order to analyse and simplify the research philosophy classified it into three particular sections: positivism, interpretivism and realism.

Figure 3: Classification of Research Philosophy

(Source: Martocchio, 2004)

Positivism appears to deal with the information, concepts and facts derived from the theories, models and concepts that the researcher seem to have used in the research work. Positivism ensures in maintain better quality for the development of the study. Besides, interpretivism leads the researcher understanding the difficulties in presenting the idea by a researcher. The problems in presenting the idea or concept is the factor that helps in manifestation of detailing of the concepts. Finally, realism is considered to be the integrated combinatorial study of both positivism and interpretivism which aims at focusing a scrutinizing idea on each of the aspects with application of serious typicality.

3.4.1 Validation for the preferred Philosophy:positivism

For this particular research work, the current researcher has put its faith onto Positivism. It is needed to be stated that analysing the issues and essential factors, approach of Positivism plays a sophisticated role. Considering the nature of the topic and data collection approaches, application of positivism or realism may not prove to be so successful. As Positivism deals mostly with the ideas derived from the literary concepts, application of Positivism appears to be successful.Ketchen and Bergh (2004) appears to have stated that application of Positivism is quite appropriate while detailing of a research work. It at the same time helps in channelling of the research ethics as well. Therefore, by using Positivism for this particular study the researcher seems not to have made any mistakes.

Estimation of research approach for a research study is apparently really significant as it delineates and identifies the actual requirements that a study requires. In order to perform a study in a correct standard having been organized with required materials, proliferation of the research approach is identical. After Livingood et al. (2011) it can be stated that research approach is not only a tool that organizes a research study at the same time it lingers the actuality of the study. To put better coherence in a study and to maintain criticality, application of any of the research approaches- inductive and deductive, as classified by Ketchen and Bergh (2004), is having serious necessity.

Figure 4: Classification of Research Approach

(Source:Livingood et al.2011)

To conduct a research study by collecting the adequate data from the different resources is a significant issue which also leads in delineating better prospect of the study. Application of the inductive in order to fulfil this factor is one of the significant matter which helps in rendering better cohesion. In inductive study the research is able to choose the process of collecting the data and information according to the necessities. Besides the deductive approach is completely dependent on the specific theories, models and frameworks which enables in delineating better prospect of the study. Proper analysis of the data collected in this aspect appears to be the most coherent approach. It helps in analysing the given topic more sophistically.

3.5.1 Validation for the preferred Approach: Deductive

For this current research study application of deductive approach appears to be literally effective. As the current researcher aims at going through the particular ideas, concepts and themes, application of deductive approach is literally effective. With application of inductive approach the researcher may not apply the essential theme that it intend to. As mentioned by Livingood et al. (2011) application of deductive approach not only provides more fuel in a study at the same time it casts more coherence in the development of the study. Since the current researcher is trying to research and analyse on a broad field on this particular topic, application of deductive approach appears to be the most successful.

Approach of research design for a research study determines the structure of the research study that implements to be successful. Fram (2012) affirms that application of a research design helps a researcher in presenting the research ethics more brilliantly. It can better be stated as a frame which holds the research study suitably. In order to do an academic research study, application of the research design seems to be the most significant point of research delineation.Al (2013) seems to have classified the research design as of three different types: explanatory, exploratory and descriptive. Applying of this research design for the development of a research study is essential.

Figure 5: Classification of Research Design

(Source:Ketchen and Bergh, 2004)

Explanatory research design states the research issue more elaborately. At the same time, the researcher barely centres its idea into a small area. Rather, a serious area of discussion is brought in focus by the researcher. Besides, application of exploratory research design helps in suggesting the nature of the study. If the research work centres onto a particular research area and the focus area of the study is relevant, it helps in building up the research strategy essentially. Finally, the descriptive research design helps in gathering various kinds of ideas and concepts, collected from the different resources relating to the research topic,needs to be properly analysed and examined. Descriptive study helps in maintaining better coherence for this study.

3.6.1 Validation for the preferred Design: ‘Descriptive-exploratory’

For this current research study the researcher has taken up the descriptive research design which allows the researcher collecting the data and information from the different areas of study relating to this topic. Descriptive analysis also renders more potentiality for the strategical development of the research study. Application of explanatory and exploratory research design may create troubles for the research as it focuses onto a specific area. The current researcher conducts the study by preferring a large area of the study keeping in mind. Therefore, application of descriptive-exploratory research design seems to be a perfect success. At the same time, application of the descriptive-exploratory research design paves a way of unique sophistication to the researcher.

Bendat and Piersol (2011) is of this view that data plays the most essential role in ascertaining the quality of the research work. In order to identify the better essence of a research study, collection of data and using them for the proper manifestation of the researcher study is literally coherent.

3.7.1 Data Sources: Primary and Secondary

To collect the data needed for doing a research survey, as mentioned by Partington, (2002), are of two different kinds: primary and secondary. For the primary data the researcher collects them first-handinformation from the different direct sources by itself. The research is responsible of making a direct i8nterect with the concerned respondents in seeking of necessary data. Ketchen and Bergh (2004) is of the view that primary data helps in identifying the issues related to the subject and helps the researcher to develop the study promptly. Besides, as mentioned by Coleman and Briggs (2002), secondary data is the collection of the data and information from the different secondary sources such as books, journals, websites, web journals and others. Information gathering from the peer reviewed papers is literally intrinsic for the strategic development of the researcher study. For a study availing of both the primary and secondary data is literally sophisticated.

In this particular research study, the researcher prefers the collection of data and information from the primary data collection technique. The researcher has moved to the field in order to collect the concerned data and information which seem to have helped in the congenial development of the study. Besides, use of secondary data for framing of Literature Review section is another key approach that has helped in proper decoration of the study.

3.7.2 Data Techniques: Quantitative and Qualitative

For the collection of data, maintaining of proper data analysis technique is quite necessary. It helps the researcher conducting the research process significantly. Bendat and Piersol (2011) seems to have classified that data collection technique is of two different types: quantitative and qualitative. Quantitative data is the collection of the information from the different sectors by distributing a questionnaire armed with normally MCQ questions. Quantitative study leads in ascertaining the actual response of the respondents within a limited range. Besides, qualitative data collection is most of the case is conducted by conducting interview. Here the respondents are affluent and has scope to critically discuss about their approaches. Coleman and Briggs (2002) mentions that quantitative study maintains the viability of the information and data collected by the researcher.

For this particular survey, the researcher has concentrated onto application of both the quantitative and qualitative research data collection techniques.

In order to do a researcher survey, collection of the data and information from the different respondents is essential.  For this particular study, the researcher has also been in need of collecting of responses from a number of people. This total number of people is called to be the population for this particular task. Besides, total number of people used by the researcher for this study is considered to be the sample of the research study that plays a significant role in the development of the study.

3.8.1 Sampling Technique and size:

In order to adapt the sampling technique, the current researcher has preferred application of non-probability sampling technique. The size of the sample in this case was 50 participants. Further, the model of selected environment of the survey was to conduct the qualitative research among the four people mainly. The head of the sustainability directorsandthe project management directors of the two banks – CGD and BCP are the main sample in qualitative research. The two-methods of data collection and sampling wereappreciated for conducting this research as it might introduce the effective exploration during the research (Harvard, 2015).

3.8.2 Survey and interview

Questionnaire

The questionnaires for conducting the survey will be based on the likert scale mainly either, or will be trying to quantifying the information gathered from the qualitative information. Therefore, it is customary to build up questionnaires in a suitable format to get the real information regarding the issue so that the resolution can be achieved from the survey. Further, to meet the objectives of the research the format of the questionnaires need to be suitable so that outcome from the questionnaires can show the correct path for drawing appropriate conclusion. There will be two types of questionnaires – for conducting a survey and interviewing the concerned managers of Portugal Banks. In this case, the survey will be conducted in a workshop for the stakeholders of the bank – mainly for the clients and employees. It is a suitable way to conduct the research so that research can be further proceeds through a quantifiable method in this course. Taking interview of the project directors and managers is also a good move which will provide the real life information in this case.

The interview will be taken in a close-door operation and the identity of the interviewee will not be disclosed without permission of the concerned person. It is considered as the ethical and precautionary move in this research from the viewpoint of protecting the contributors’ identities so that they can feel free to respond during the survey as well as interview. It is the sole idea of the researcher that identities of the stakeholders in the workshop will not be revealed as a matter of concern for ethics. In addition to this, all the information gathered from the research survey, interview will be used as the part of this academic research, and there is no scope of using this information for commercial purpose by any means. However, the information from this research can be used by other researchers including the respondents’ responses within the condition of solely academic usage of the information (Coleman and Briggs, 2002).

There will be ten questions for conducting the survey as the questions will have options for the responders where respondents will have chance to produce their view regarding the matter by answering through the options. There will be only five questions for conducting the interview of the project directors, sustainability directors of the bank.

In order to do this job there are some ethical factors that the researcher seems to have followed strictly. It helps in increasing of the quality of the research work. Research ethics are quite significant factors which ascertain more standardized factors.

1. Maintaining the Anonymity of the Respondents: The researcher affirms that in no way the researcher will disclose the personal information of the respondents. All the information collected by the researcher are to be kept confidential and in no way they will peep through any vent.

2. Volunteer Involvement of the Respondents: The research ascertains that involvement of the respondents in this research study is completely volunteering. In no way either the research or the other research associates has created any pressure on the respondents to answer. At the same time, no manipulation on the response of the respondents is entertained. The respondents were free to voice their approach.

3. Maintaining Duality of Data: It is confirm that the data used for this study is only used for the academic purpose. In no way using of data in any commercial process is allowed or managed by the researcher. At the same time, the research materials are also used in this approach which helps in determining the propagation of the data.

To do this research work there are some essential constraints that the researcher seems to have faced. The researcher limitations, on one hand, had hampered the strategically development of the study, and on the other hand, its approach of has created severe problems in synchronization of the study. Here, in this particular section of the study the researcher is going to jot down some of the points of challenges that created problems in the serious development of the study.

1. Limitation of Budget: As this is an academic research the researcher could only spend a little and limited money for this purpose. This is where the research was in need of compromising with the quality of the study. For unavailability of budget, the researcher could not use SPSS software for analyzing the data and was in need to opt for MS Excel. It also has cats an impact on maintaining quality of the task as well.

2. Time Limitation: In order to do this job the researcher get only a limited time which has resulted in creation of heftiness in the work. Although the researcher has distributed time specifically for the different tasks to be conducted, however, in some cases the research was needed to finish the task having little time in hand. If more time would have been provided more sophisticated the research study may have become.

3. Doubt in the Trustworthiness of the Respondents: There is no way opened for the writer confirming that the respondents can be trusted blind-folded. It is sure that there were so many issues that the respondents has skipped, assuming confidential. If those factors could have been accessed by the researcher easily, more potential the job may have been. At the same time, there is no guarantee that the responses that the respondents have conveyed are typically true. This seems to have created critical problems for the development of the research study seriously.

It is needless to mention that there are several tasks, both small and huge in size and quality, needed to be performed for the development of a research study. Therefore, the researcher has allocated some stipulated timeframe to perform each task. In the following section the structure of the activities and their allocated time span is discussed.

Figure 6: Gantt chart

(Source: Developed by the researcher)

Task Name	Duration	Start	Finish	Predecessors
Research Project development plan (Literature Review & Data Analysis)	99.5 days	Tue 6/9/15	Mon 10/26/15
Initiation Phase	30 days	Tue 6/9/15	Mon 7/20/15
Collection of project ideas	2 days	Tue 6/9/15	Wed 6/10/15
Justification of project ideas	4 days	Thu 6/11/15	Tue 6/16/15	3
Prioritization of project ideas	2 days	Wed 6/17/15	Thu 6/18/15	4
Collection of required information related to project	3 days	Fri 6/19/15	Tue 6/23/15	5
Selection as well as justification of project	4 days	Wed 6/24/15	Mon 6/29/15	6
Submission of the request project proposal	5 days	Tue 6/30/15	Mon 7/6/15	7
Execution of project meeting	3 days	Tue 7/7/15	Thu 7/9/15	8
Project Brainstorming	5 days	Fri 7/10/15	Thu 7/16/15	9
Development of scope statement	2 days	Fri 7/17/15	Mon 7/20/15	10
Analysis	33 days	Tue 7/21/15	Thu 9/3/15
Preparation of functional specification documents	6 days	Tue 7/21/15	Tue 7/28/15	11
Functional specification review	4 days	Wed 7/29/15	Mon 8/3/15	13
Completion of functional specification	3 days	Tue 8/4/15	Thu 8/6/15	13,14
Revise research plan	1 day	Fri 8/7/15	Fri 8/7/15	15
design	1.5 days	Mon 8/10/15	Tue 8/11/15	16
Preparation of documents regarding design specification	2.5 days	Tue 8/11/15	Thu 8/13/15	17
Review of design	3 days	Fri 8/14/15	Tue 8/18/15	17,18
Revise the prepared documents	2 days	Wed 8/19/15	Thu 8/20/15	19
Setup environment	7 days	Fri 8/21/15	Mon 8/31/15	20
Completion of design process	3 days	Tue 9/1/15	Thu 9/3/15	21
Literature Review	16.5 days	Fri 9/4/15	Mon 9/28/15
Conduction of introduction	3 days	Fri 9/4/15	Tue 9/8/15	22
Identification of responsibilities of the Human Resource Departments	2 days	Wed 9/9/15	Thu 9/10/15	24
Identification of technologies that used by the human resource department	2.5 days	Fri 9/11/15	Tue 9/15/15	24,25
Gather of information to support the identified objects	3 days	Tue 9/15/15	Fri 9/18/15	26
Completion of Literature Review	6 days	Fri 9/18/15	Mon 9/28/15	27
Data Analysis	20 days	Mon 9/28/15	Mon 10/26/15
Conduction of survey questionnaires	3 days	Mon 9/28/15	Thu 10/1/15	28
Preparation of questionnaires	2.5 days	Thu 10/1/15	Mon 10/5/15	30
Selection of respondents	5 days	Tue 10/6/15	Mon 10/12/15	31
Sampling the respondent	1 day	Tue 10/13/15	Tue 10/13/15	32
Divide the respondents in 3 different group based on age	1.5 days	Wed 10/14/15	Thu 10/15/15	33
Result generation through discussion	3 days	Thu 10/15/15	Tue 10/20/15	34
Completion of data analysis and discussion	4 days	Tue 10/20/15	Mon 10/26/15	35

Table : Time schedule and allocation of time for the different tasks

Throughout this particular chapter the researcher has presented the process, procedure and methods that the researcher seem to has adapted which conducting this study. At the same time, the researcher has also stated what useful areas it may have developed and focused. Justification of the research techniques are also discussed in this part of the study which proves to be a literal approach to make the study more ballistic. The research study without presenting this chapter may seem to be completely unsuccessful. At the same time, the researcher has also stated the number of respondents that it seems to have taken for this study. How time has been framed and allocated for the different tasks is also significantly and elaborately stated by the research in this section of the study. The approach of this chapter helps in developing the next chapters too.

This chapter will concentrate on the information gathering and reviewing them. Further, the chapter will also try to analyze the requirements of sustainability in the banks of Portugal. In this context, the change agents to shape the sustainability will also discuss. Further, this chapter will analyze the interviews of the sustainability directors of the banks as well as the project managers of the banks. The conception of change agent and its role will be analyzed from the point of view of the project managers. The chapter will also present the views of sustainability of banking business in this regard, as it is desirable to understand their business-view.

1. The number of male and female as well as description of people as the stakeholders

Gender	NUMBERS	Percentage	Employee	Clients
Male	20	40	8	12
Female	30	60	14	16

Table 1: Description of people as the stakeholders

From the above table we can see that demographic analysis of the participants in the survey that male responders are 40% while the female participants have responded rest of the part. In this context, the employees of the banks have participated low while the customers are more. Therefore, it is customary that responses from the survey will follow the responses of the customers mainly. Thereby, the analysis from the survey will posit the information of customers’ foot mainly. The low participation from the employees of the banks might be a reason to conduct the interviews of the managers as well as it shows that code of conduct for whistle blowing in the banks are maintained thoroughly.

2. The age group of the people

Age group	Numbers	Percentage	Employee	Clients
25-35	12	24	6	6
36-45	11	22	5	6
46-55	14	28	8	6
56-65	13	26	3	10

Table 2: age group of the people

The age-wise distribution of the people in the survey can be seen from the above table. It is seen that experienced people have participated much in the survey. However, it cannot be analyzed that young people are not interested in sustainability of the banking business. The difference between young participants and older one is very small. The employees of the banks have participated too and the middle management of the banks has participated mainly in the survey. The experienced people of the banks have not shown their interest much in the survey. The old people among the customers have participated much in this case. It is also seen that the middle-aged people are not much interested in participating in the survey. It can be analyzed that responses from the survey will be in line with the old customers’ view as well as the young  and middle experienced employees mainly.

3. The issues to make you believe on the sustainability of your bank

Matter of tension	Numbers of respondents	Percentage	Male	Female
Management’s identity	8	16	5	3
Policy of the bank	9	18	2	7
Customer relationship	11	22	4	7
Employee retention	9	18	3	6
Growth in business	8	16	2	6
Response from the share market	2	4	2	0
International apprehension of business	3	6	2	1

Table 3: Believe on the sustainability of your bank

From the above table, it can be said that employees and the customers’ view regarding the sustainability of the banking business mainly. The factors they think correct and might provide the sustainability in order to meet the goal of the business of the banks are here elaborated from the responses of the participants. The majority of the customers have sought for the better customer relationship with the customers. However, the maximum employees have sought for retaining the employees more in number as they think that it can help to sustain the long-term objectives of the banking business. The growth in business is the major contribution in sustainability as sought by the young participants of the survey. The responses from the share market have not much value in sustaining the business while the international collaboration or the exposure does not have much influence on the participants of the survey. It can be analyzed that from the survey, that policy of the survey has many importance and it is going to be a valuable input in delivering the sustainability. Additionally, the participants, especially the customers believe in the identity of the management of the banks to rely on the banks brand values.

4. The changes can be made by apprehending the service from the project managers of overall banks’ sustainability

Rate	Numbers of respondents	Percentage	Male	Female
Highly agree	8	16	4	4
Agree	12	24	5	7
Neutral	8	16	3	5
Disagree	9	18	2	7
Highly disagree	13	26	6	7

Table 4: service from the project managers of overall banks

The service form the banks are highly appreciated from the employees and the customers of the banks. In this regard, the customers have sought more about the better service from the managers of the banks. However, from the point of view of the employees in the survey, it is clearly found that they have disagreed with the numbers. Further, it can be said that male responders have rejected the chance of service from the managers might change the definition of sustainability of the banks. Additionally, it can be said that few people have not responded towards any direction clearly. Further, it is also found from the survey that majority of the people in the survey think that top level managers cannot contribute much in apprehending the service standards of the banks. However, the manager might have some positive role from their side to develop the service quality to improve the situation of the sustaining business.

5. Consider the role of the project manager can contribute as a change agent in the banks

Rate	Numbers of respondents	Percentage	Male	Female	E:C
Highly agree	12	24	6	6	2:1
Agree	14	28	8	6	2:3
Neutral	9	18	2	7	1:1
Disagree	8	16	3	5	2:1
Highly disagree	7	14	1	6	1:1

Table 5: The role of the project manager can contribute as a change agent in the banks

From the above table, it can be seen that role of the project managers as the change agent is mainly agreed by the employees of the banks. It is also seen that majority of the employees in the survey have agreed to the condition of changing situation of the strategies and the contribution from the top-level managers. It is also seen that male participants have felt the requirements of the top-level managers much in changing the business environment of the banks. However, the female members of the survey have not found much of the use of managers in changing the business in banks. The majority of the customers are ignorant of changing of the banks and the utility of the managers in the changes. They have disagreed mainly in the role of the managers effective for changing and their role as change agent.

6. Change can be made through well-supervised project in a bank by motivating the project managers

Rate	Numbers of respondents	Percentage	Male	Female	E/C
Highly agree	10	20	6	4	2:1
Agree	11	22	8	3	2:1
Neutral	9	18	4	5	1:1.5
Disagree	10	20	2	8	1:3
Highly disagree	10	20	2	8	1:2.5

Table 6: Change can be made through well-supervised project in a bank

The above table shows the power of supervision for a project due to changes made by the project managers. It is also found that many of the employees have agreed in this regard that change is possible through well-supervised projects in the banks by the managers. In this respect, the changes can be through changing the female members of the surveys. The effect of supervision is not much felt by the customers as they attain the changes from the outside of the banks. The female employees of the banks have not felt much in this sense and the female employees cannot feel the usual changes in the supervision power in the banks in the banks. The female employees also could not find the essence of motivating the people through supervising projects in a well manner. It is also seen that employees of the banks, irrespective of their genders have agreed with the effect of motivation in supervising the projects as well as changing the business strategy and the systems. However, it is also true that supervision power and the relation with the motivation in changing the system of the company are positive for the employees.

7. The main aspects of attaining the benchmark for the project managers in the bank

Aspects	Numbers of respondents	Percentage	Clients	Employees
Customer friendly	8	16	7	1
Attaining sustainability	12	24	4	8
Risk averse decision making	11	22	9	2
Risky decision taking	9	18	5	4
Maintain the strategy of bank	10	20	3	7

Table 7: main aspects of attaining the mark for the project managers in the bank

From the above table, it can be said that majority of the customers have voted for risk averse decision by the managers as well as for the customer friendly behavior from the managers in the work place with the customers. However, they have not agreed with the attaining sustainability towards the business through the action of the project managers. The project managers are required to maintain the sustainability approach towards every project. In addition to this, it can be said that employees have voted for maintaining strategy and the sustainability approach of the managers in the banks. It will grow the changes in the company as well as in the projects. Further, it can be analyzed that all of the employees have the views of taking risky decision part from the old employees. Thereby, it is true that young employees are with the management and ready to accept the changes in the system and strategy. Thesustainability approach of the project managers might motivate the young people as well as it can maintain the strategy for achieving the goal of the business.

8. Role of project manager in lowering the non-performing assets from their contribution in the bank.

Rate	Numbers of respondents	Percentage	Male	Female	E/C
Highly agree	9	18	7	2	2:1.5
Agree	12	24	6	6	2:1
Neutral	8	16	4	4	1:1
Disagree	10	20	2	8	1:2.5
Highly disagree	11	22	1	10	1:3

Table 8: Role of project manager in lowering the non-performing assets from their contribution in the bank

Role of the project managers is highly agreed for lowering the Non-performing assets of the banks. The employees think that managers have the main essence of changing the situation of asset performance of the banks. Further, it is also true that employees can perform better in regarding the managers’ active role in reducing the non-performing assets in the banks. It is understood that customers do not think in the same way. They think that managers have no role in lowering the non-performing assets of the banks. Further, it is also seen that male employees understood much better about the non-performing assets while the female not. The percentage of the male members has highly agreed with the active role of the managers in reducing the non-performing assets while the female employees have disagreed with their attention in this matter. It is also seen that young employees and the customers have responded negatively for the effect of the role of the project manager in reducing the non-performing assets.

9. The disadvantages of a project manager in a bank you can see while applying for a loan for a project

Disadvantages	Numbers of respondents	Percentage	Clients	Employees
Time consumable	7	14	5	2
Making the process complicated	8	16	5	3
Increase of cost	14	28	4	10
Increase of bribery	9	18	7	2
Issues of corporate ethics	12	24	7	5

Table 9: The disadvantages of a project manager in a bank you can see while applying for a personal loan

The above table shows the responses from the survey on the disadvantages felt by the employees and the customers due to having employed project manager in issuing loans to the customers. Itis found that bribery is the main concern for the customers as well as the corporate ethics is also a major issue. In this regard, the customers have also sought for process complication and the time consumable in nature. Thereby, the role of the managers is not much appreciated and the customers find many of the disadvantages. The majority of the vote is against the disadvantage of increase of the cost of issuing of loan. The customers are aware of this much as the cost has to borne by them. In addition to this, it is also true that employees also think that cost of the issuance of the loan due to engaging the project managers. However, they also think that much of the corporate ethical issues are the main reasons for engaging a project manager in loan issuance. Thereby, it is found that employees are aware of bribery in issuance of loan from the banks. The old aged employees have the view of this disadvantage as it might reduce the credibility and the integrity of the project managers’ position in the banks. Further, it can be said that corporate ethics will reduce the credibility of the project and thus the disadvantage of the project managers are mainly associated in the role of the project managers’ rigid decision in achieving the goal of the banks. The sustainability in business can be achieved by reducing the bribes and enhancing the credibility of the business suiting the customers’ intention of hassle free service for every project. The managers need to maintain the issues related to corporate ethics as they can provide an advantage in achieving the sustainability in business with proper governance system.

10. Rate your bank’s sustainability in delivering project of changing environment for your company todeliver the sustainability in business

Rate	Numbers of respondents	Percentage	Male	Female	E/C
Highly agree	11	22	6	5	1:2
Agree	12	24	8	4	1:1.25
Neutral	8	16	4	4	1:1
Disagree	10	20	1	9	1:3
Highly disagree	10	20	1	9	1:3

Table 10: Bank’s sustainability in delivering project of changing environment for your company

The banks have the objective to attain the sustainability in the changed management project of the system of the banks. In this context, the change management is really necessary for the banks to cope with the new development in the business. The changes in the regulation and the policies of the banks might develop the requirements of developing the new system in the banks. Thereby, it is necessary for the managers to implement the changes in the system of the bank to deliver the change for attaining the sustainability. The majority of the participants have agreed with attaining the sustainability during the project of change management. Theemployees as well as the customers in the survey where the participants voted in favor of the role of the project managers also supported the changing environment in the banks. The majority of male employees voted for the sustainability approach of the project managers as a change agent in the dynamic environment of banking business.

1. What are the main challenges as a project manager you feel to make changes in your bank?

The challenges for the sustainability of the business are the main issue for the managers in the banking business. It is also found thatchallenges of the project managers are several. In this case, the sustainability managers of the banks have found the serious issues with the customer relationship and the management of the employees. Thereby, the changes in the system and strategy of the banks face the conflict and contradiction of balancing the contradiction. Further, they also found that changes in the company needed to be done starting from the employees. The main challenge in this regard is the resistance from the employees. They also found that young employees are ready to be changed with the changes made in the strategies of the banking system the old employees feel the changes are going to be used against their career so they do not want to change in the system. The changes in the regulation are the main concern in changing the sustainability approach of the banking system. However, the old employees always delayed the process due their incapability of adapting the new system as well as their rigid mentality. Further, the sustainability manager also found that time for changing the system of the banks is also a constraint. The challenges of the manager are also depended on assessment of the project management. The projects for different categories are required to be categorized for cope with the changing environment of the banking system. In this context, the sustainability management has great role to assess the project accurately. It reduces the risk associated with the project and the credits of the banks. Thereby, the changes in this regard in the system of the bank found to be a major issue and the managers are required to overcome these constraints to implement the changes.

2. How much do you think a project manager has the scope of changing the environment of the business in a bank?

The head of the project management in the banks are interviewed in this context. The challenge of the project manager is also answered during this time. The main scope for the manager is to change the idealistic situation of the banking system while delivering the sustainability in the business. Thereby, the change in the banking business might be authorized through the managers. The directors of the project management also think that the main responsibility of the project managers is to provide direction towards sustainability of the system. During the practice of sustainability of the business, the project managers are required to follow the rules of the project management in the bank. The role of the project managers allow them to follow the rules of evaluating the projects. In addition to this, the project managers also identify the high metrics and extra ordinary target of any project. The scope of the project management is also associated with the sustainability of the business and environment. Thereby, the challenge and the scope of this role is associated with the responsible behaviors towards the society, banking institutions and environment. The head of the project department also thinks that scope in delivering the regulatory compliances in the project of the banks. The scope is to limit the non-performing assets in the banks. In addition to this, the project managers need to deal with the future risk and uncertainties of the projects. Thereby, the challenges of the managers are mainly associated with the future interpretation of the economy and the environment. The scope in the sense of managing the turnkey and the different metricssegregate the small retail projectsin the banks and evaluation is based on those metrics. The GRI index maintaining in the operation of the banks is also the scope of the managers as the metrics of this index is associated with the sustainability approach of the banking system. Further, for attaining the business sustainability, the banks need to comply with the BASEL system in Europe. Thereby, it is also a scope for the mangers of the project to assess the project with maintaining the BASEL guidelines. The head of the project in the bank has also found that scope is not limited to the financial inclusion of the projects. The project managers of the banks have the scope to deliver the new shape due to their strategic intervention in the banks.

3. What are the main aspects of making your business sustainable during this change?

The main aspects found by the sustainability director of BCP bank are the changing environment and the strategies of the banking business with changing in the regulations and the taste of the customers. According to him, the main aspect is to attain the sustainability in thebusiness. However, the challenges are required to overcome during performing the main aspects of the projects. The changes of business model from time to time are the main aspect in delivering the sustainability in banking sector. The aspect of delivering the projects’ viability is also important in delivering the business of the banking system. Thereby, the challenge of attaining the main aspects of the project is to change the strategy of the business. However, the manager of CGD bank has found that attaining sustainability is possible through implementing the strategies in the banks. The most difficult part of attaining the sustainability in the business is to implement the changed strategies. During this change, the main constraint is to identify the key function of the implementing the changes in the system further, this changing processtake too much time. The resistancefrom the employees and the customers might become another constraint for the managers. The role of the manager becomes a teacher and the communicator in delivering the implementation of the changes in the banks. In addition to this, it is also found that aspects of sustainability are the integrity and honesty in assessing the borrowing and credibility of the projects.

Thereby, the change management of the project is also concerned with the sustainability of the business. The project managers of the banks have found that main aspects of the business of banking system are to change the assessment process of the projects. However, they also felt that scrutinizing the integrity of the project managers in this regard. It will reduce the conflict of interest and the malpractice in the banking environment. In addition to this, it is also found that project managers need to find the appropriate environmental evaluation method as well as the integrity checking system. Thereby, the changes in the system can be achieved through changing the strategy of the banking system.

4. Why do you think that change is possible by a project handler rather other people working with the bank?

The project managers as stated by the sustainability director of CGD bank mainly do the change in the banking system. In this respect, he had cited the reason firmly that project manager can control the project as well as fit with the requirements for the existing project. According to him, the project is governed through the change during shaping the new system. The view of the sustainability manager is to achieve the sustainability in the business. However, he cited that other employees have important contribution in designing the implementation process of the change management project. The success of the change process is possible through their active contribution towards the changing process. However, it is not possible to attain the success by the other employees to change the process. The main lag he found in other employees is to shape the change in every aspect. The employees not beating the project management responsibility may not have similar communication and skills to set the shaping project in the business. The head of the project management department have cited the same reasons in his interview. However, he had also cited that shaping the various departments as per the different needs of the departments. Therefore, the change in the business of banking system is mainly followed through the project managers.

5. How much are you satisfied with your responsibilities as a change agent?

The departmental head of project managers have voted for his and his teams’ satisfaction level from their responsibilities. During the interview session, he cited that project management team has got the support from all over the banks. The closed door of the employees is opened through special discussion session as well as group chat for the focus groups. The sustainability director found his job to be satisfied on mediocre basis. They have found that satisfaction is achieved from the understanding with the top-level management of banking business. Nevertheless, the lower level employees do not found the meaning of total sustainability in business. The shape of these employees is not good. Therefore, sustainability management found it difficult to work with the lower level employees.

Conclusion and Recommendations

From the analysis in chapter five, we can conclude that role of the project manager in change management is vital. The project managers can shape the change in the strategies and the system of the company to allow the changes effective in practice. It is found from the analysis that customers and the employees of the banks have different views in this matter. The customers of the banks believe in more customer relationship and simplicity of the system of loan application in the banks. However, the employees of the banks think more about the profitability, employee retention and team role of the project managers. In this regard, theanalyzed data shows that male stakeholders of the banks have more ideas of the sustainability approach through project management while the female employees believe in the stereo type jobs []. It is customary that influencing factors for changing the banking industry like identity of the management and the profitability of the banks. Here, the analysis also has found that international exposures and the performance in the share market are not considered in this case. Thereby, the conclusion can be made in this purpose that customers and the employees are much affected due to changes made in the future. It is also found from the interview with the directors of sustainability and the project management that male and young employees are much capable to respond positively to the changes made in the system of the banks. The changes are also influenced through the changes made due to regulatory volatility from time to time.

The different attributes of the project manager in this respect is to contribute towards the shaping the changes in the banks. The regular challenges in the regulations and the situations of financial sectors in the Euro zone has made the banks to compete with the changes. They need to comply with the new requirements of the regulations to maintain their liquidity and their credit rating. The sustainability of the banking business of Portugal is possible through delivering the appropriate project assessment. In this context, the changes in this form are possible for the banks through the project managers. Additionally, it is seen that the bankslike MilleniumBancoComercial Portuguese and CaixaGeraldeDepositoshave to amend the changes through the project managers. During the process of the changes, it is necessary for these two banks to control the process of changes. The project management team is responsible in delivering that control in the banking system-change. The changes made in the system of the banks due to fall of BancoEspirito Santos so that they do not repeat the same mistakes in future. It is the ‘taking shield’ of the recent trends of fall of credit line of the banks in Portugal. The change in the attributes of the managers in this context is to maintain the low profile for working with the changing policy. The shape of the new system of the banks is essential to be prepared for the employees and the customers so that they can cope with the new system.

The influencing factors of the banking business in Portugal are mainly based on the profit margin and the customer relationship. However, the factors are not associated with shaping of the projects. The influence of the international growth of the business of the banks is not much appreciated in public in this country while the delivery of relationship management is highly appreciated in this regard. Thereby, the changes are considered through the efficacy of the influencing factors. Sustainability practice in banking industry is considered to be one of the most important factors in these days due to high credit default. Thereby, the policies of the sustainability are governed by the influencing factors mainly.

The capacity of the changeagents is the basicconstructfor the successofthe changing environment and the shaping the changeswithin organization. Due to changes made in this regard, the capacity of the agent is considered seriously from the pointof view of the project managers. The capacity enhancement helps the firms to get the multiple coordination facilities in changing the business. Additionally, the capacity building of the change agent is the outcome of the satisfaction level of them in working with the changes concluded in the business process. The change agent might change the system of working due to change in strategies of the company. The monitoring system of the sustainability practice is not connected with the project of sustainability itself. Thereby, the customized improvement and capacity building is the main contributor in monitoring the changed system by the change agent. The shape of the change is achieved through constant monitoring the loopholes in the changed system of the banks. The great fall of one of the biggest bank in Portugal has made the project manager skeptic in allowing their special skills to deliver the innovative solution to the problems. Therefore, they have become more skeptics in delivering the sustainable solution of business.

It is recommended to the project managers to select the project as per the prescribed regulations. It will help them to makebetter decision as well as the risk will be lesser. Further, maintaining the changes in the regulation will provide the change agent to follow the changes easily in the banks. The shape of the change is necessary, as the changes cannot be controlled without shaping the industrial development. The main constraint to shape the change is to reduce the resistance from the employees. Thereby, it is advised to take ample of time for conducting the change so that an appropriate shape can be achieved.

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Appendix

Appendix I: Survey form

Questionnaires

1. The number of male and female as well as description of people as the stakeholders
2. The age group of the people
3. The issues to make you believe on the sustainability of your bank
4. The changes can be made by apprehending the service from the project managers of overall banks’ sustainability
5. Consider the role of the project manager can contribute as a change agent in the banks
6. Change can be made through well-supervised project in a bank by motivating the project managers
7. The main aspects of attaining the benchmark for the project managers in the bank
8. Role of project manager in lowering the non-performing assets from their contribution in the bank
9. The disadvantages of a project manager in a bank you can see while applying for a loan for a project
10. Rate your bank’s sustainability in delivering project of changing environment for your company to deliver the sustainability in business

Questions for interview [open ended questionnaires]

1. What are the main challenges as a project manager you feel to make changes in your bank?
2. How much do you think a project manager has the scope of changing the environment of the business in a bank?
3. What are the main aspects of making your business sustainable during this change?
4. Why do you think that change is possible by a project handler rather other people working with the bank?
5. How much are you satisfied with your responsibilities as a change agent?