THE RELATIONSHIP BETWEEN LEADERSHIP AND BANKING PERFORMANCE
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Abstract
This study examined the influence of leadership on banking performance. The study’s entire population consists of 200 bank employees in Lagos. For data gathering purposes, the researcher utilized questionnaires. This study utilized a descriptive survey research approach. The survey utilized a total of 133 respondents consisting of human resource managers, customer care officers, senior employees, and marketers. The gathered information was tabulated and examined using simple percentages and frequencies.
Chapter one
Introduction
- Background of the study
Influence is a common definition of leadership. It is the skill of persuading others to freely contribute to the accomplishment of a goal. The influencer, also known as the leader or the leadership, must have a goal or aims to achieve. Leadership affects the behavior and attitude of a group and motivates them to work toward the achievement of predetermined objectives. They will perform the task not only voluntarily, but also with fervor and assurance. You conduct and direct when you lead. Leadership consists of motivational information, the capacity to inspire others, and a style of leadership. Koontz (1978) opined, “Leaders act to assist a group in achieving its objectives through the most efficient use of its resources. They do not stand behind a group to prod and prod; rather, they position themselves in front of the group to enable progress and inspire the group to achieve organizational objectives.
Effective leadership is the ability to motivate others to work voluntarily, enthusiastically, and with confidence, both when you are physically there and especially when you are physically absent. Therefore, while bank management executes the policies of the board of directors, they should leave the operational staff alone to conduct business operations to their logical conclusion. Followership is fundamental to leadership. A person becomes a leader when others are willing to follow him or her. However, it has been discovered that people tend to follow those they consider as a route to achieving their own wants, needs, and desires. It should be clear from this perspective that leadership and motivation are closely related concepts. Personal and organizational objectives must be effectively aligned for leadership to be effective.
The administration of the majority of Nigerian banks has fallen short of government standards, causing regulatory authorities to impose sanctions and, in cases where this was insufficient, to liquidate the banks. In 2005, the number of Nigerian deposit money banks (previously known as commercial banks) decreased from 89 to 24. This fall is still relatively recent. In 2008, the Central Bank of Nigeria (CBN) replaced the management of eight deposit money institutions, including Union Bank Plc, Intercontinental bank, Wema bank, Equatorial trust bank, etc. There have been instances of poor corporate governance, inadequate risk management, and, most all, insufficient human capital and management skills on the side of leadership.
Due to insufficient exposure to and expertise with strategic leadership, the majority of firms fail to achieve their profit objectives (Carmeli et al., 2011). Intensity and complexity of shareholder and stakeholder demands on top-level management teams have increased, making knowledge of strategic leadership important (Carter & Greer., 2013). Some of the highest-ranking bank executives engage in strategic leadership without adequate preparation and expertise. Insufficient experience in strategic leadership may lead to a performance deterioration. The competitiveness, performance, and sustainability of an organization may be jeopardized by a lack of strategic leadership orientation (Bansal & Desjardine, 2014).
Statement of the problem
Due to a lack of knowledge and exposure to strategic leadership, most firms fail to meet their profitability objectives (Carter & Greer, 2013). Sixty percent is the projected rate of leadership failure in achieving profitability goals (Vugt & Ronay, 2014). The overall business challenge is that some senior bank leaders engage in strategic leadership without strategic leadership training and orientation to the work of strategic leadership. Some bank CEOs lack the strategic leadership abilities necessary to increase bank profitability. This is the specific business challenge.
Objective of the study
The study has the following objectives:
To establish the link between leadership and banking performance
Determine the role of leadership in the profitability of banks
Determine whether leadership effects employee performance.
Research hypotheses
The researcher developed the following research hypotheses in order to complete the study successfully:
There is no correlation between leadership and banking performance, according to the null hypothesis.
There is a strong correlation between leadership and banking performance, according to H1.
Leadership is irrelevant to the profitability of banks.
Leadership plays a role in the profitability of the banking sector
Significance of the study
The study and banking sector will find great value in this research. The study will provide a thorough understanding of the role of leadership in the success of banks. The work will also serve as a resource for future researchers interested in the same subject.
Scope and limitation of the study
The scope of this study encompasses the impact of leadership on banking performance. The researcher faces a limitation that restricts the scope of the investigation;
a) AVAILABILITY OF RESEARCH MATERIAL: The research material accessible to the researcher is insufficient, thereby limiting the scope of the investigation.
b) TIME: Due to the researcher’s need to integrate the study with other academic activities and examinations, the allotted time period does not allow for a broader scope.
1.7 DEFINITION OF TERMS
Leadership is both a field of study and a practical competence covering the capacity of an individual or organization to “lead” or direct other individuals, teams, or entire organizations.
Banking performance: The term ‘performance’ refers to the fulfillment of certain operations or the execution of an obligation. The utilization of a bank’s resources in a manner that enables it to fulfill its goals is the definition of “bank performance.”
1.8 ORGANIZATION OF THE STUDY
To facilitate comprehension, this study is divided into five chapters as follows:
The first chapter is devoted to the introduction, which includes the (overview of the study), historical context, statement of the problem, objectives of the study, research hypotheses, significance of the study, scope and limitations of the study, definition of terms, and historical context of the study. The second chapter focuses on the theoretical framework upon which the study is founded, as well as a survey of the relevant literature. The third chapter discusses the research design and technique utilized for this study. The fourth chapter focuses on the collecting and analysis of data, as well as the presentation of findings. The summary, conclusion, and suggestions of the study are presented in the fifth chapter.
THE RELATIONSHIP BETWEEN LEADERSHIP AND BANKING PERFORMANCE
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