ROLE OF LEADERSHIP IN BANKING PERFORMANCE
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ROLE OF LEADERSHIP IN BANKING PERFORMANCE
ABSTRACT
This investigation focused on how management affects banking performance. 200 employees of particular banks in the state of Lagos make up the study’s overall population. Questionnaires were utilised by the researcher as the instrument for gathering data.
This study used a descriptive survey research approach. The survey used a total of 133 respondents, including human resource managers, customer service representatives, senior staff, and marketers. Simple percentages and frequencies were used to analyse the data, which were presented in tables.
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
Influence is the definition of leadership in general. It is the capacity to persuade others to voluntarily work towards reaching predetermined goals. The influencer, also known as the leader or the leadership, must have a goal or set of goals to pursue.
People’s attitudes and behaviours are affected by leadership, which motivates them to work towards achieving the objectives. They will perform the task not just willingly but also zealously and confidently. Leading involves conducting and directing.
Knowledge of motivation, the capacity to motivate others, and a leadership style are essential components of leadership. “Leaders act to help a group attain objective with the maximum application of its capabilities,” according to Koontz (1978).
In order to enable development and motivate the group to achieve organisational goals, they put themselves in front of the group rather than standing behind it to push and prod it.
When you are physically there and, especially, when you are not, you must be able to inspire others to work cheerfully, fiercely, and confidently for you.
Therefore, bank management should leave the operational staff alone to complete business activities to their natural conclusion while implementing the board of directors’ policies. Followership is the foundation of leadership.
A leader is defined as someone who can inspire others to follow them. However, it has been noticed that people often choose to follow those who they believe will help them fulfil their own needs, wants, and desires.
From this vantage point, it should be clear that the notions of motivation and leadership are interconnected. Effective alignment of personal and organisational goals is a requirement for leadership.
Most Nigerian banks’ management has fallen short of what the government expects, which has prompted the regulatory authorities to impose sanctions. Where these weren’t sufficient, the banks were shut down. Deposit money banks in Nigeria, formerly known as commercial banks, were reduced from 89 to 24 banks in 2005.
In 2008, the administration of eight deposit money institutions, including Union Bank Plc, Intercontinental Bank, Wema Bank, and Equatorial Trust Bank, was changed by the regulatory body, specifically the Central Bank of Nigeria (CBN).
There have been instances of faulty corporate governance, inadequate risk management, and, most importantly, leadership with insufficient human capital and managerial skills.
Due to a lack of knowledge and exposure to strategic leadership, the majority of organisations struggle to meet their profitability goals (Carmeli et al., 2011). Because of the increased complexity and intensity of shareholder and stakeholder demands on senior management teams, understanding strategic leadership is crucial (Carter & Greer, 2013).
Some of the top bank executives begin their strategic leadership work before they have had enough training or experience. A reduction in performance could be brought on by a lack of strategic leadership experience.
Organisational competitiveness, performance, and sustainability may be at risk from a lack of direction to the task of strategic leadership (Bansal & Desjardine, 2014).
STATEMENT OF THE PROBLEM
Due to a lack of exposure to and expertise with strategic leadership, the majority of organisations struggle to meet their profitability goals (Carter & Greer, 2013). According to estimates from Vugt & Ronay (2014), leadership failure rates for achieving profitability goals might reach 60%.
The overall business issue is that some senior bank executives start the work of strategic leadership without receiving any training or orientation in this area. The particular business issue is that certain bank executives lack the strategic leadership abilities necessary to increase banking profitability.
OBJECTIVES OF THE STUDY
The study’s aims are;
To determine the connection between management and financial success
To determine the part leadership plays in banking profitability
Finding out if leadership affects employee performance
RESEARCH HYPOTHESES
The researcher developed the following research hypotheses in order to successfully complete the study:
H0: There is no discernible connection between leadership and banking success.
H1: The performance of banks and leadership are significantly correlated.
H02: Leadership has little impact on the profitability of the banking industry.
H2: Leadership plays a part in the success of the banking industry.
SIGNIFICANCE OF THE STUDY
The study will have a major impact on research and the financial industry. The study will provide a crystal-clear understanding of the part leadership plays in banking performance. The work will also be used as a resource by other researchers who will pursue the associated subject.
SCOPE AND LIMITATIONS OF THE STUDY
The study’s focus is how leadership affects banking performance. The study’s scope was constrained due to a constraint the researcher encountered;
a) AVAILABILITY OF RESEARCH MATERIAL: The researcher’s access to suitable research material limits the investigation.
b) TIME: Because the researcher must juggle the study with other academic obligations and exams, the time allotted for the investigation does not improve wider coverage.
1.7DEFINITION OF TERMS
Leadership: The ability of an individual or organisation to “lead” or guide other people, teams, or entire organisations is both a research area and a practical competence.
Banking performance: The word “performance” refers to putting something into action or achieving something, as well as to finishing a task or carrying out a responsibility.
The reflection of how a bank uses its resources in a manner that enables it to accomplish its goals is known as “bank performance.”
1.8 ORGANIZATION OF THE STUDY
For ease of understanding, this research paper is divided into five chapters, as follows:
The first chapter is devoted to the introduction, which includes an overview of the study, its historical context, statement of the problem, study objectives, research hypotheses, significance of the study, its scope and limitations, definition of terms, and its historical context.
The review of related literature is highlighted in Chapter 2 in order to provide the theoretical foundation for the study. The third chapter covers the study’s methodology and research strategy.
The gathering, processing, and presentation of data are the main topics of Chapter 4. Chapter 5 provides a summary, conclusion, and study recommendations.
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