Date of Conferral
Doctor of Business Administration (D.B.A.)
Marilyn K. Simon
Formal mentoring programs in the financial insurance business are essential for developing important leadership business skills and for providing support for important decisions and business contacts. Business leaders lack adequate knowledge about the strategies that comprise an effective mentoring program. With the conceptual theories of Super's career development and Quinn's competing values framework, the purpose of this qualitative single case study was to explore strategies within a formal mentoring program to prepare new business leaders in the financial insurance business. Nine leaders from the financial insurance business were recruited for participation in the study; these leaders were also mentees in the formal mentorship program. The research question addressed the strategies of successful mentorship programs that the leaders used to prepare new business leaders in the financial insurance business. Data were collected via semistructured telephone interviews, face-to-face interviews, and document analyses. Transcribed data were validated via response validation and then coded into 8 interlinking themes related to strategies used in the mentorship program: empowerment of knowledge, leadership competency, level of experience, networking, gender, retention, structure, and strategies for the future. Leaders of financial insurance businesses could benefit from this study by integrating and implementing recommendations on developing a mentoring program for future leaders. Effective formal mentoring programs within organizations can thus improve leadership competencies and can develop socially responsible leaders who contribute to the economic well-being of businesses and communities and capitalize on growth and financial education opportunities.
Strategies for Formal Mentoring Future Business Leaders