Management Challenges in State-Owned Export Credit Agencies in the 2020s; Case Studies in Iran and Hungary

Rosa Alamian; Károly Balaton

doi:10.18096/TMP.2022.01.02

Authors

Rosa Alamian University of Miskolc
Károly Balaton University of Miskolc

DOI:

https://doi.org/10.18096/TMP.2022.01.02

Keywords:

Export credit, ECAs, Management Challenges, Change management, crisis

Abstract

In the 2020s, Export credit agencies alongside other industries face many critical challenges such as new technologies (like Artificial Intelligence and Blockchain), environmental issues, and new financial crises that force change or modification to the organizations. State-owned ECAs have some limitations in their regulations and are inherent in the way of the change process. This paper aims to investigate the management challenges in ECAs in facing the changes needed in the 2020s and how they face them. ECAs in Iran and Hungary are used as case studies. Content analysis with an inductive approach is done to interpret the conducted interviews.

Author Biographies

Rosa Alamian, University of Miskolc

Ph.D Candidate

Károly Balaton, University of Miskolc

Professor Emeritus

References

AL-HADDAD, S. AND KOTNOUR, T., (2015). Integrating the organizational change literature: a model for successful change. Journal of Organizational Change Management, 28(2), pp. 234-262. https://doi.org/10.1108/JOCM-11-2013-0215

ASMUNDSON, I. (2020). Financial Services: Getting the Goods. IMF entry. Retrieved: Nov 2010: https://www.imf.org/external/pubs/ft/fandd/basics/finserv.htm . BAMFORD, D. R. AND FORRESTER, P. L. (2003). Managing planned and emergent change within an operations management environment. International Journal of Operations & Production Management, 23(5), pp. 546–564. https://doi.org/10.1108/01443570310471857

BANKWATCH NETWORK. (2017). ECAs go to market: A critical review of transparency and sustainability at seven export credit agencies in Central and Eastern Europe. Retrieved August 2021: https://bankwatch.org/wp-content/uploads/2018/02/ECAs-go-to-market.pdf.

BEER, M., EISENSTAT, R.A. AND SPECTOR, B., (1990). Why change programs don’t produce change. Harvard business review, 68(6), pp.158-166.

BERNE UNION, (2019): Yearbook 2019. Retrieved: March 2021: https://www.berneunion.org/Publications

BULLOCK, R. J. AND BATTEN, D. (1985). It’s just a phase we’re going through: a review and synthesis of OD phase analysis. Group and Organization Studies, 10(December), pp. 383–412. https://doi.org/10.1177/105960118501000403

BY, R.T., (2005). Organisational change management: A critical review. Journal of change management, 5(4), pp.369-380. https://doi.org/10.1080/14697010500359250 COHEN, S., & EIMICKE, W. (2002). The effective public manager: Achieving success in a changing government. John Wiley & Sons.

CUMMINGS, T. G., & WORLEY, C. G. (2009). Organizational Development & Change, 9th Ed. Canada: South-Western.

EASTERBY-SMITH, M., THORPE, R., & JACKSON, P. R. (2015). Management and business research. Fifth edition. Sage.

EGFI (2017-2018) .annual report (2017-2018). Retrieved: April 2021: https://egfi.ir/

EXIM about us, (n.d.). “About us”. Retrieved: April 2021: https://exim.hu/en/exim-en

EXIM Management, (n.d.). “Management”. Retrieved April 2021: https://exim.hu/en/exim-en/management

EXIM strategies, (2017-2021). “EXIM Stratégia 2017-2021”. Retrieved June 2019: https://exim.hu/images/docs/Exim-Strategia-2017-2021.pdf

GEORGIEVA, K. (2020). The financial sector in the 2020s: Building a more inclusive system in the new decade. International Monetary Fund. Jan, 17. Retrieved: Nov 2020: https://www.imf.org/en/News/Articles/2020/01/17/sp01172019-the-financial-sector-in-the-2020s

GIANTURCO, D. E. (2001). Export credit agencies: the unsung giants of international trade and finance. Greenwood Publishing Group.

GONÇALVES, V., AND CAMPOS, C. (2018): The Human Change Management Body of Knowledge (HCMBOK®). Taylor & Francis Group, LLC. Third Edition. https://doi.org/10.1201/9781351032827

HILEMAN G. (2018). Chatham House Primer: Blockchain. Retrieved April 2021: https://www.chathamhouse.org/events/all/members-event/chatham-house-primer-blockchain?gclid=Cj0KCQjwrsGCBhD1ARIsALILBYo9LQyBoz_a5Tfe0dq19fAt-hScZR19cnxfruwxtsMF_s5GGqSeGYwaAk0gEALw_wcB .

HORNSTEIN, H.A., (2015). The integration of project management and organizational change management is now a necessity. International journal of project management, 33(2), 291-298. https://doi.org/10.1016/j.ijproman.2014.08.005

HUSSAIN, S.T., LEI, S., AKRAM, T., HAIDER, M.J., HUSSAIN, S.H. AND ALI, M., (2018). Kurt Lewin's change model: A critical review of the role of leadership and employee involvement in organizational change. Journal of Innovation & Knowledge, 3(3), pp.123-127.

HYE, A.M., MIRAZ, M.H. AND HABIB, M.M. (2020). Factors Affecting Change Management through Technology Adoption in Public Organizations in Bangladesh. Int. J Sup. Chain. Mgt Vol, 9(4), p.122.

ICC (2018). ICC Global Survey 2018: Securing future growth. Retrieved: March 2021: https://iccwbo.org/publication/global-survey-2018-securing-future-growth/ .

INVESTOPEDIA, (2020): Financial Services Sector. Retrieved: Nov 2020: https://www.investopedia.com/ask/answers/030315/what-financial-services-sector.asp .

KANTER, R. M., STEIN, B. A. AND JICK, T. D. (1992). The Challenge of Organizational Change. The Free Press, New York .

KITTISARN, A. (2003). Decision making: being a study to develop a decision-making style to amalgamate best management practice with traditional Thai society and culture. DBA thesis, Southern Cross University, Lismore, NSW.

KOTTER, J.P., (1995). Leading change. Harvard business review, 2(1), pp.1-10.

KOTTER, J. P. (1996). Leading Change. Harvard Business School Press. https://doi.org/10.1002/cir.3880080221

KUZMANOVA, M. AND IVANOV, I. (2019). Relation between Change Management and Crisis Management: Survey Evidence. In International conference KNOWLEDGE-BASED ORGANIZATION, Vol. 25, No. 1, pp. 255-260. Sciendo. https://doi.org/10.2478/kbo-2019-0042

LUECKE, R. (2003). Managing Change and Transition. Harvard Business School Press.

MCCALL, M. M. AND KAPLAN, R. E. (1990). Whatever it takes- The reality of Management decision making. Second Edition, Englewood Cliffs: Prentice Hall.

MORAN, J. W. AND BRIGHTMAN, B. K. (2001). Leading organizational change. Career Development International, 6(2), pp. 111–118. OECD. “Export Credits”. Retrieved: April 2021: https://www.oecd.org/trade/topics/export-credits/

OSTROFF, F. (2006). Change management in government. Harvard business review, 84(5), 141-7. Retrieved: Nov 2020: https://hbr.org/2006/05/change-management-in-government .

POSNER, M. (1997). Export credit. Credit Management: The Key to Profitable Trading, 155-185.

PWC (2020). Financial services technology 2020 and beyond: Embracing disruption. Retrieved: Nov 2020: https://www.pwc.com/gx/en/industries/financial-services/publications/financial-services-technology-2020-and-beyond-embracing-disruption.html

RAINEY, H. G. (2003). Understanding and managing public organizations. John Wiley & Sons. Third edition.

SALCIC, Z. (2014). Export Credit Insurance and Guarantees: A Practitioner's Guide. Springer.

SERRA, C. E. M., & Kunc, M. (2015). Benefits realization management and its influence on project success and on the execution of business strategies. International Journal of Project Management, 33(1), 53-66. https://doi.org/10.1016/j.ijproman.2014.03.011

TEAM LINCHPIN, (2020). Financial Services Industry Challenges & Opportunities in 2021. Retrieved: Nov 2020: https://linchpinseo.com/common-challenges-in-the-financial-services-industry/

TXF (2021). The growing role of EXIM Hungary. Retrieved: Sep 2021: https://www.txfnews.com/News/Article/7115/The-growing-role-of-EXIM-Hungary WILLIAMS, H.E., (2012). Influential managers in the public sector: How can OD prepare managers in the public sector for today’s challenging working environment. Journal of Leadership, Accountability and Ethics, 9(5), pp.125-136.