Sri Lanka Journal of Marketing
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Item The Impact of Performance Assessment System on Employee Commitment: A Study among Executive Officers of State-Owned Commercial Banks in Sri Lanka(Department of Marketing Management, University of Kelaniya, Sri Lanka., 2021) Kumari, D. A. T.; Medis, A.Performance management is a much broader and a complicated function of HR, as it encompasses activities such as joint goal setting, continuous progress review and frequent communication, feedback and coaching for improved performance, implementation of employee development programs and rewarding achievements. Performance management can be regarded as a systematic process by which the overall performance of an organization can be improved by improving the performance of individuals within a team framework. It is a means for promoting superior performance by communicating expectations, defining roles within a required competence framework, and establishing achievable benchmarks. As end results, the performance appraisal positively affects to the employee commitment and it will lead to achieving corporate objectives. However, there is a public opinion about a poor performance management system in public sector organizations. Accordingly, some researchers argue that performance management of public sector commercial banks is poorer than private sector commercial banks in the Sri Lankan context. Hence, this paper focuses on the assessment of the influence of the current performance management system adopted by major state-owned commercial banks on job commitment of their executive employees. The sample for this study was drawn from executive grade employees who are working at Peoples Bank and Bank of Ceylon and data were collected by using self-administrated questionnaire. Altogether 350 questionnaires were distributed by email and 208 completed questionnaires were taken in for final analysis. The PLS based SEM was employed to measure the impact of the exogenous variable on the endogenous variable based on the Smart PLS-3. The results revealed that among the set of determinants, career development, is the most significant determinant of employee commitments among executive officers of state-owned commercial banks in Sri Lanka. Further, it was revealed that, alignment with organizational goals, is the least significant determinant of employee commitments among executive officers of state-owned commercial banks in Sri Lanka.Item Determinants of Financial Literacy: with Special Reference to Consumers in Financial Service Industry(Department of Marketing Management, University of Kelaniya, Sri Lanka., 2020) Kumari, D. A. T.The financial literacy is a key dimension which determines the demand of the financial services in the economy. However, most of the previous studies and financial decision makers believe financial literacy in different perspectives. Therefore, it is timely important to identify the main determinants of the financial literacy among potential customers in financial service industry. Accordingly, present study is mainly focused on identifying and verifying the key determinants of the financial literacy in the customer’s point of view in the financial service sector. The study adopted the positivism epistemology and quantitative approach. At the initial phase of the study, the extensive literature review was carried out with the purpose of identifying the determinants of financial literacy. In the second phase, a survey was conducted among 500 potential financial services customers representing nine provinces in Sri Lanka, with the assistance of a researcher administrated questionnaire. The sample was selected based on the multilevel mixed sampling method and the unit of analysis was the head of households in Sri Lanka. Furthermore, a partial least squares structural equation model (PLS-SEM) was employed as the principle data analysis approach, and Smart PLS 3 was employed as the main analytical software. Degree of financial literacy was tested based on 22 items identified by previous researchers and Principle Component Analysis was employed to determine the key factors of financial literacy. The reliability of scales was measured by Cronbach’s Alpha coefficients. The findings revealed that in general, all financial literacy dimensions have significant impact to determine the level of financial literacy. However, when it considers under separate dimensions, financial knowledge is the most significant determinant among the other determinants to determine the level of financial literacy. Therefore, researcher concluded that financial knowledge can be considered as a main determinant of financial literacy among potential customers of financial services in Sri Lanka. And the financial awareness is identified as the least significant determinant. Finally, the researcher provides some suggestions for marketing practitioners of financial service industry and government policy decision makers to develop financial literacy level by promoting financial knowledge for absorbing more consumers towards formal financial system and products of financial services.