Banking Sector in Libya: Can the Six Sigma Concept Be a Solution?

Abstract

This article aims to investigate the Six Sigma implementation in Libyan banking sector in order to identify its perceived benefits and to explore the critical success factors. Data were based on the findings of a questionnaire survey in Libyan banking sector. A total of 154 questionnaires were distributed and only 81 questionnaires were returned usable, giving a response rate of 62.79%. The results indicated that the Six Sigma implementation can be used at Libyan banking sector, which can be used as a template for other banks in emerging countries since it provides an insight into the critical factors influencing a successful Six Sigma implementation. The findings of the survey confirm that there is hardly and difference managerial levels in the observing and evaluating the benefits and the successful factors of the quality control tools implementation in banking.

Finally the main limitations of this article are outlined and opportunities for future research are discussed, particularly in relation to this article’s findings about the need to reconsider the Six Sigma benefits and critical success factors of the Libyan banking sector and also the need for a multiple perspective approach for studying the diffusion of Six Sigma implementation of the Libyan banking sector.

TOPICS: Private equity, frontier, equity portfolio management, statistical methods