ISSN: 1019-7044
Volume 50, No. 1, June 2025
Published: November 2025
Pages: 151-180
Doi: http://doi.org/10.64204/BP1019-7044/50(1)/A20253
Mohammad Barkat Ullah Chowdhury, Mohammad Tazul Islam, Md. Shihab Uddin Khan
This paper aims to examine the application and applicability of theory Z management system in the banking sector of an emerging economy – Bangladesh as a case. A self-administered semi-structured questionnaire has been used to collect the data. Data have been collected by face-to-face interviews as well as e-mail responses. A total of 496 sample respondents have analyzed to interpret the data. The study uses Factor Analysis (FA) Data Reduction Model (DRM) by SPSS to analyze the data. The study finds that there is no uniformity of the management system among the banks in Bangladesh. The management structure and employee management are widely varied across the banks. Moreover, the study finds that Some features of theory Z such as friendly employee management system and trust between management and employees, and bonding between management and employees are already practicing in the banking system of Bangladesh. Although all of the features of theory Z are not fully applied but employees are ready to accept the features of theory Z such as lifetime employment, engagement in decision making, taking self-responsibility and accountability, execution of scientific evaluation and promotion, proper measures of the control mechanism, clear career path, mutual trust, values and freedom. Hence, there is considerable scope to implement theory Z in the management systems of banks of Bangladesh.
JEL Classification: G21, D23, M54
Keywords: Applicability , Theory Z , Emerging Economy
References:
Alexander, W., and George, P. (1981). The exemplary middle school. Now York: Holt, Rine built and Winston.
Anderson, C. (1982), "The search for school climate: A review of the research," Review of Educational Research, Vol. 52, Fall 1982, pp. 368-420.
Ashton, P., and Webb, R. (1982). Teacher's sense of efficacy: Toward an ecological model. Research presented at the meeting of the American Educational Research Association, New York, March 1982.
Aydin, O. T. (2012). The Impact of Theory X, Theory Y and Theory Z on Research Performance: An Empirical Research from A Turkish University’ International Journal of Advances in Management and Economics [online]1(5)2430. availablefrom<www.managementjournal. info/download1.php?f=050105.pdf > [3 March 2016]
Barney, J. (2004). An Interview with William Ouchi. Academy of Management Executive 18, no. 4 (2004): 108–117.
Barney, J. B. (2004). ‘Introduction: William Ouchi’s Theory Z: How American business can meet the Japanese Challenge’ Academy of Management Executive [online] 18 (4), 106-107. Available from <http://connection. ebscohost.com/c/articles/15268703/introduction-william-ouchis-theory-z-how-american-business-can-meet-japanese-challenge > [5 March 2016]
Bloom, B. (1981). All our children learning. New York: McGraw-Hill Book Company.
Bolden, R., Gosling, J., Marturano, A., and Dennison, P. (2003). A Review of Leadership Theory and Competency Frameworks [online] available from <http://www2.fcsh.unl.pt/docentes/luisrodrigues/textos/Lideran%C3%A7a.pdf > [6 March 2016]
Bonner, J. (1982). Japanese quality circles: Can they work in education?. Phi Delta Kappan, Vol. 63, June 1982, p. 681.
Daft, R.L. (2004). Theory Z: Opening the Corporate Door for Participative Management. Academy of Management Executive 18, no. 4 (2004): 117–122.
Dems, K., and Edwards, G. (2015). Famous Examples of Different Leadership Styles [online]available from <http://www.brighthub.com/office/home/ articles/76450.aspx > [5 March 2016]
Forman, D. C., and Oord, F. (2013). Eight Principles of Inspirational Leadership [online] available from <http://www.talentmgt.com/articles/ eight-principles-of-inspirational-leadership > [7 March 2016]
George, B. (2012). How IBM’s Sam Palmisano Redefined the Global Corporation [online] available from <https://hbr.org/2012/01/how-ibms-sam-palmisano-redefin.html > [6 March 2016]
George, B. (2014). Jack Ma on Alibaba, Entrepreneurs and the Role of Handstands [online] available from <http://dealbook.nytimes.com/ 2014/ 09/22/jack-ma-on-alibaba-entrepreneurs-and-the-role-of-handstands/?_r= 0 > [6 March 2016]
Habib, S. M.A. Islam, Sk.N. Islam, M.T. Islam, M. (2020). “Leadership Approaches, Governance and Emotional Intelligence: The Case of the Banking Industry of Bangladesh”, Vol. 41, Research Monograph, BIBM
Hissom, A. (2009), Introduction to Management Technology [online] available from <http://www.amyhissom.com/MyWritings/Management.pdf > [7 March 2016]
Islam M. T. Yesmin, R. Rahman, L. Anwar, M.K. Hussain, M. Z. (2011). Sustainability in Service Quality and Customer Conformity: Drivers of Customer Loyalty to Bank. Research Monograph, No. 44, BIBM
Islam, E., & Kalumuthu, K. R. (2020). Assumptions of Theory Z: A Tool for Managing People at Work. The Asian Journal of Professional and Business Studies, Volume 1(1).
Islam, M. T. (2014). Green Recruitment and Selection Process Model: Evidence from the Banking Sector of Bangladesh. Bank Parikrama, Vol. XXXIX No. 1 & 2 March & June
Islam, M.T. and Uddin, M.M. (2022). Determinants of board roles in the banking sector – Bangladesh perspective. International Journal of Corporate Governance, Vol. 13 No. 2, pp. 103-123. Inderscience Publisher
Jilani, M.M.A.K. Fun, L. Islam, M.T. Uddin, M.A. (2020). The Influence of Knowledge Sharing on Sustainable Performance: A Moderated Mediation Study. Sustainability, Vol. 12(03) No. 908.
Khan, J. (2015) Difference Between Leadership and Management [online] available from <http://www.differencebtw.com/difference-between-leadership-and-management/ > [4 March 2016]
Kotter, J. P. (2001). ‘What Leaders Do’ Harvard Business Review [online] available from <https://www.regonline.com/custImages/ 250000/250761/ 5%20Articles%20and%20YB%20Profile%20for%20Reading-SLDP.pdf > [5 March 2016]
Kux, S. (2015). 8 Keys to Success from Jack Ma, Self-Made Billionaire, and CEO of Alibaba [online] available from <http://www.lifehack.org/ articles/ work/8-keys-success-from-jack-self-made-billionaire-and-ceo-alibaba.html > [6 March 2016]
Leonard, D., and W.C. Swap. (2005). Deep Smarts: How to Cultivate and Transfer Enduring Business Wisdom. Boston: Harvard Business School Press, 2005.
LRN Corporation (2010). Inspirational Leadership [online] available from <http://lon.lrn.com/sites/default/files/ILA%20Foundational%20Whiteresearch%2001.10.11.pdf > [7 March 2016]
Lynch, D. J. and Schmidy, R. (2014). Alibaba’s Behemoth IPO Making Few Ripples in Washington [online] available from <http://www.bloom berg.com/news/articles/2014-07-11/alibaba-s-behemoth-ipo-making-few-ripples-in-washington > [16 March 2016]
McGregor, D. M. (1957). ‘The Human Side of Enterprise’ The Management Review [online] 2 (1), 6-15. available from <https://s3.amazonaws.com/ unow-platform-students/contents/4f400 14c2d fba60001001 aca/original/ The%20Human%20Side%20of%20Enterprise%20McGregor.pdf?1329594700 > [3 March 2016]
Mullins, L. J. (2010). Management & Organizational Behavior [online] 9th and. England: Pearson Education Limited. available from <http://www.jcch. com.ar/books/Management%20and%20Organisational%20Behaviour.pdf > [4 March 2016]
Northouse, P. G. (2010). Leadership: Theory and Practice [online] 5th and. London: SAGE. available from<https://books.google.com.my/ books?id= SOjzvJfSPycC&pg=PA1&source=gbs_toc_r&cad=4#v=onepage&q&f=false > [24 January 2016]
Ouchi, W. G. Price, R.L. (1978). Hierarchies, clans, and theory Z: A new perspective on organization development, Organizational Dynamics, Vol. 7 No. 2, pp. 25-44
Ouchi, W.G. (1981). Theory Z: How American Business Can Meet the Japanese Challenge. Reading, MA: Addison-Wesley,
Robbins, S. P. (1983). The Theory Z Organization from a Power-Control Perspective, California Management Review, Vol. 25 No. 2
Siddique, M.U. Alamgir, M. Islam, M. T. Mehedi, T. Uddin, M. M. Robin, I.A. (2022). “Board, Chief Executive Officers and Performance of Banks in Bangladesh”, Vol. 60, Research Monograph, BIBM
Stuhlman, D. D. (2008). Knowledge Management Terms [online] available from <http://home.earthlink.net/~ddstuhlman/defin1.htm > [7 March 2016]
Uddin, M.M. Islam, M.T. and Faroque, M.O. (2022). “Effects of Political affiliation of boards on bank performance: a developing country perspective”. Journal of Accounting in Emerging Economies, Vol. 13 No. 3, pp. 566-588, Emerald Publisher.