Change Management's Role in the Evolution of Financial Institutions in Kazakhstan and Hungary [védés előtt]

Abstract

This dissertation examines the role of change management in the banking sectors of Kazakhstan and Hungary, focusing on how institutional, cultural, and historical contexts influence the implementation and outcomes of change management strategies. The study explores the intersection of global pressures (digital transformation, regulatory compliance) with local conditions (leadership style, national culture, historical legacies) and aims to extend existing change management theories to emerging and transitional economies. The research employs a qualitative, comparative case study design, using interviews with banking professionals in both countries to gather insights into how leadership, employee engagement, customer orientation, and cybersecurity strategies shape the success or failure of change initiatives. The analysis is grounded in change management frameworks (Kotter, Lewin, ADKAR, etc.), enriched by empirical data that reveal how these models need to be adapted to different cultural and institutional contexts. Key findings show that Kazakhstan’s banking sector, influenced by a post-Soviet legacy and hierarchical leadership, experiences rapid but unstable change, while Hungary’s EU-regulated banking system promotes structured, predictable transformations through participatory leadership. The study highlights the importance of cultural and institutional fit in shaping effective change management practices and demonstrates that change is a continuous, multi-dimensional process rather than a one-off event. This dissertation contributes to theoretical development by refining existing models and proposing a new conceptual framework that integrates regulatory, technological, leadership, and cultural factors in managing change. It also provides practical recommendations for financial institutions in emerging and transitional economies seeking to manage digital disruption, regulatory compliance, and employee engagement effectively.