Managing global virtual teams in the London FinTech industry

Hoang, Tho Minh (2022) Managing global virtual teams in the London FinTech industry. Doctoral thesis, University of Wales Trinity Saint David.

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Abstract

Today, the number of organisations that are adopting virtual working arrangements has exploded, and the London FinTech industry is no exception. During recent years, FinTech companies have increasingly developed virtual teams as a means of connecting and engaging geographically dispersed workers, lowering costs, and enabling greater speed and adaptability. As the first study in the United Kingdom regarding global virtual team management in the FinTech industry, this DBA research seeks answers to the question, “What makes for the successful management of a global virtual team in the London FinTech industry?”. Straussian grounded-theory method was chosen as this qualitative approach lets participants have their own voice and offers some flexibility. It also allows the researcher to have preconceived ideas about the research undertaking. The research work makes the case for appreciating the voice of people with lived experiences. Ten London-based FinTech Managers with considerable experience running virtual teams agreed to take part in this study. These Managers had spent time working at large, household-name firms with significant global reach, and one had recently become founder and CEO of his own firm, taking on clients and hiring contract staff from around the world. At least eight of the other participants were senior ‘Heads’ of various technology teams and one was a Managing Director working at a ‘Big Four’ consultancy. They had all (and many still did) spent years running geographically distributed teams with members as far away as Pacific Asia and they were all keen to discuss that breadth of experience and the challenges they faced. Results from these in-depth interviews suggested that there are myriad reasons for a global virtual team, from providing 24 hour, follow-the-sun service to locating the most cost-effective resources with the highest skills. It also confirmed that there are unique challenges to virtual management and new techniques are required to help navigate virtual managers through them. Managing a global virtual team requires much more than the traditional management competencies. Based on discussion with the respondents, a set of practical recommendations for global virtual team management was developed and covered a wide range of issues related to recruitment and selection, team building, developing standard operating procedures, communication, motivation, performance management, and building trust.

Item Type: Thesis (Doctoral)
Subjects: H Social Sciences > HF Commerce
Q Science > QA Mathematics > QA75 Electronic computers. Computer science
T Technology > T Technology (General)
Divisions: Theses and Dissertations > Doctoral Theses
Depositing User: Lesley Cresswell
Date Deposited: 05 May 2022 09:15
Last Modified: 05 May 2022 09:15
URI: https://repository.uwtsd.ac.uk/id/eprint/1959

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