CORPORATE LEADERSHIP AND EMPLOYEE EMPOWERMENT OF SELECTED DEPOSIT MONEY BANKS IN WARRI

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CORPORATE LEADERSHIP AND EMPLOYEE EMPOWERMENT OF SELECTED DEPOSIT MONEY BANKS IN WARRI


 



ABSTRACT

 

The study examined the effects of Corporate Leadership on Employee Empowerment of selected deposit money banks in Warri.  research is corporate leadership and employee empowerment of selected deposit money banks in Warri. (A Study of Access and Zenith Banks in Warri Delta State). The population of the study were staff of Access and Zenith banks in Warri Delta State.  The researcher used the Taro Yamani formular in the determination of the sample size, which was 100. The research design used was a survey research. The researcher used both the primary and secondary sources in obtaining the relevant data used in the course of the study. The primary data were collected using the instrument of questionnaire while the secondary data were obtained using from textbooks journals, magazines, newspapers and the use of library.  Chi-square statistics was used to test the hypothesis formulated for the study while simple percentage was used in analyzing the research questions. The study revealed that there is a positive effect of corporate leadership on employee empowerment and employee performance and that there is a direct effect on employee empowerment and that it has a direct effect on employee empowerment and employee performance. The researcher recommended among others that corporate leaders especially in the banking industry should review the leadership style practiced in their organizations in order to effectively optimized employees productivity and firms performance.  The study contributed to knowledge by revealing that there is a direct relationship between leadership style and employee performance and that there is a direct relationship between employee empowerment and employee performance.





 

 

TABLE OF CONTENTS


TITLE PAGE - - - - - - - ii

DECLARATION - - - - - - - - iii

CERTIFICATION - - - - - - - - iv

DEDICATION - - - - - - - - v

ACKNOWLEDGEMENTS - - - - - - vi


CHAPTER ONE: INTRODUCTION

1.1 Background to the Study - - - - - 1

1.2 Statement of  Problem - - - - - - 8

1.3 Objective of the Study - - - - - - 10

1.4 Research Questions- - - - - - - 11

1.5 Statement of the Hypothesis - - - - - 12

1.6 Significance of  Study - - - - - - 13

1.7 Scope of the Study - - - - - - 14

1.8 Definition of Key Terms - - - - - 15


CHAPTER TWO: LITERATURE REVIEW

2.1 Introduction - - - - - - - - 18

2.2 Conceptual Framework - - - - - - 33

2.3 Theoretical Framework - - - - - - 45

2.4 Empirical Review - - - - - - - 50


CHAPTER THREE: RESEARCH METHODOLOGY

3.1 Research Design - - - - - - 56

3.2 Population of the Study - - - - - - 57

3.3 Sample Size - - - - - - - - 57

3.4Sampling Technique - - - - - - 58

3.5 Method of Data Collection - - - - - 58

3.6 Technique for Data Analysis - - - - - 59

3.7 Model Specification and Variable Definition - - 59

3.8 Measurement of Variables - - - - - 59


CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA

4.1 Presentation of Data - - - - - - 60

4.2 Discussion of Findings - - - - - - 79


CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Summary - - - - - - - - 80

5.2 Conclusion - - - - - - - 80

5.3 Recommendations - - - - - - - 93

References - - - - - - -    - 95

Appendix - - - - -         - - - 98




CHAPTER ONE

INTRODUCTION


1.1 BACKGROUND TO THE STUDY

Every organization becomes what it is largely because of her leader. This explains why in any organization, there are usually individuals responsible for organizing or directing the affairs and activities of such organization. One of the most durable contributions of administrative theorist is the study of management as a set of functions. In this regard, managing employee’s welfare and services would really help in boosting employee’s morale in any organization or institution with the effect of good leadership styles; and this is why leadership is considered as one of management functions. Leadership is a factor in the managerial function of directing (Akpala, 2020). Other factors in the managerial function of directing are motivation and communication.These individuals are usually people who have the ability to lead the other people in an organization to work towards the realization of the goals and objectives of the organization in order to move the organization forward.

Corporate leadership is comprised of the executives and managers who run a company. It occurs when a company foresees ultimate success from the strong leaders that run its daily operations. Leaders themselves are responsible for effectively managing the company's resources, working with advertising teams and inspiring others to do their best work. They also envision ways to improve the company from the perspective of overall involvement. Ultimately, the actions and decisions of executives are what is referred to as corporate leadership. It takes both training and talent to be able to take on a role as a leader of a company, whether it's in a major international firm or a smaller company that deals only at the local level. It also takes certain character or personality traits to be able to thrive in such a high pressure, often cutthroat environment. Adapting to change is one of the most important traits when leading a company. One must be good at talking with people if not precisely charismatic, and public speaking skills are needed for some roles within a company's leadership.

Leadership according to Nwachukwu is a social influencing process for the attainment of goals.Allen and Robert (2017); also define leadership as a process where one person exerts social influence over the members of a group. A leader then, is a person with power over the others who exercises the powers for the purpose of influencing their behavior.  Leadership is a part of management, which deals with influencing activities of individuals and their efforts towards goal achievement in a given situation. The impact of effective leadership style should not be neglected because it leads to cooperation among employees and leaders in the organization. It also brings about mutual relationship between employees and leaders in the organization. Leadership is the ability of an individual to influence others to work beyond ordinary level to achieve a goal or objectives. Leadership is generally defined as influence, the process of influencing people so that they will strive willingly towards the achievement of group goals. To lead is to conduct, guide and direct. Leaders do not stand behind a group to produce. They place themselves before the group as to facilitate progress and inspire the group to accomplish organizational goals. A pertinent example is that of the orchestra leader whose function is to produce co-ordinate sound and correct tempo, through integrate effort of the instrumentalists.

Leadership has an effect on the performance of any organization. It affects both employee’s morale and productivity of the organization. For a leader to lead efficiently he needs to understand his followers and the situation in the organization. The situational variable which influence the effectiveness of a given leadership style are characteristics of followers and the task, organizational climate, power available to the leader and leader follower relationship.

An organization is set up with primary objective of optimally utilizing its available human and/or material resources to ensure that the total receipt of the organization in terms of revenue exceeds its total expenditure or payment. The role of employee empowerment in an organization cannot be over emphasized. The pre determined goals and objectives of an organization cannot be accomplished in the absence of the positive morale and total commitment of the employee empowermentother wise known as employee’s. This commitment and dedication is usually transformed into high level of productivity and thereafter the actualization or realization of the corporate objective of the organization.

It is pertinent to note here that the wealth of a nation is hinged on employee empowerment. Therefore, capital and natural resources are passive factors of production while the active factors constitute the employee empowermentwho accumulate capital, exploit natural resources (material resources), build socio-economic and political organization and also carry forward national development. This means that for an organization to progress and the nation develop, the employee empowerment base must be ultimately utilized and/or managed. It should be noted that human factors of production and its management is equally difficult considering its morale towards production.As businesses around the world change and adapt to an international market in a way that's never been done before, leaders of all backgrounds and cultures often come together for meetings and decisions. Those in corporate power are often expected to do a lot of travel and research. While one cannot be expected to pick up a language overnight, knowing other languages now can help a Managerrise within a company, a skill that would have simply been a nice resume anecdote in the more localized corporate world of the past.

Corporate leadership has changed a lot over the years. Company leaders of the past thrived by running operations by the book as they were instructed by the owner. Now, the success of the company is often met by allowing those in charge to use a variety of personal talents and skills to help keep the company on the path to a planned vision. The old style gave the business owner what he asked for, but the new system gives the owner what he needs to have his company become or remain successful.

There are organizations around the world that exist to help companies excel the effectiveness of those in charge. This can ultimately benefit everyone involved in the company. A company that is run efficiently is often a more successful one. In fact, the Corporate Leadership Center was founded in the US as a business-academic forum to assist, encourage and instruct others in the art and science of corporate leadership. Its program Leading Women Executives gives recognition and support to women, aiming to help qualified women rise to top in positions of leadership.

According to Bottomore (2003), he stated that when employee’s work under severe debilitating, unsafe and degrading surrounding/environment for long hours and for a very poor remuneration/pay, there arise a followership of suffering. This suffering if sustained produces a brotherhood of understanding, which thereafter leads to class consciousness. This class-consciousness culminated necessarily in service from employers, which evolved into trade unionism. The pathetic and harsh environmental work place which people are subjected to is not commensurable with their level of Human Resource Performance.

It also brings about greater productivity and the attainment of set goals objectives.

A leader must possess the following characteristics:

i. He must be friendly with his employees

ii. He must be willing to accept responsibilities.

iii. He must be able to plan for the future.

iv. He must be socially active by participating in group function etc.

When leaders possesses some of these characteristics in dealing with their employees, the researcher believe employees will work in harmony and peace towards the attainment of organizational goals.

1.2 STATEMENT OF PROBLEM

One of the most and least understood variables of management is leadership. For centuries, scholars have been speculating on the nature of leadership. Only in the recent years have researchers conducted systematic investigation that yield useful insights into dimension of leading (Nwachukwu 2018). However, there is still an increasing difficulty to establish the fact that leaders achieve the desired result at when needed. The quality of leadership style shape the behaviour of their employee’s at all level. It tends to evaluate their job and their organization according to the kind of leaderships morale their bosses’ exhibit.Theoretically, in appropriate usage some style of leadership leads to employee’s negative morale to work, for instance, absenteeism, conflicts, indifference to work ethics. All these are some of the problems found out in the case study. Thus, it is therefore argued that to achieve organizational predetermined goals that management should display good leadership morale that could motivates the employees. But most organization does not take this into practice which has become a problem.

The concept of effective leadership style in stimulating employee’s job performance is primarily concerned with mutual relationship between employees, leaders and the willingness of employees to put in their best effort, so that the desire goal of organization can be achieved.However, poor leadership style often leads to poor job performance as most leaders lack the managerial power, as their emphasis are often towards forcing their will on employees.  Finance is another problem encountered in effective leadership style. Inconsistency in government policies also constitutes another problem to effective leadership style.

1.3 OBJECTIVE OF THE STUDY

The objectives of the study are as follows:-

I. To identify the various corporate leadership styles and their effect on human resource performance.

II. To understand corporate leadership process as an important phenomenon in an organization.

III. To look at the problems associated with leadership process in an organization and provide solution to such problems by way of recommendation.

1.4 RESEARCH QUESTIONS

i. does corporate leadership have any effect on human resource performance?

ii. do employees take part in decision making process of the organization?

iii. does inconsistency in government policies affect corporate leadership style?

1.5 RESEARCH HYPOTHESES

I. H0: Corporate leadership style has no effect on Human Resource performance.

Hi: Corporate leadership style has impact on Human Resource performance.

II. H0: Employees do not take part in the decision making process.

Hi: Employees do take part in the decision making process.

III. H0: Inconsistency in government policies does not affect the corporate leadership style.

Hi: Inconsistency in government policies does affect the corporate leadership style.

IV. H0: Leaders do not have mutual relationship with employees.

Hi: Leaders do have mutual relationship with employees.

1.6 SIGNIFICANCE OF THE STUDY

i. This study is aimed at discovering the content of effective corporate leadership style on employees of Access Bank Plc Warri.

ii. It is intended to explore the kind or relationship existing among leaders and employees with a view of correcting disputes.

iii. The study will find ways of achieving the best result in terms of services rendered to customers.

v. The study also intend to contribute to existing knowledge in the area of Human Resource performance and enhance stimulating further studies on the topic, since improvements are made everyday, that can lead to formulation of policies by the government.

1.7 SCOPE OF THE STUDY

The study covers an area of Delta State private sector, particularly, Access Bank Plc, Warri.

It is concern with the Corporate leadership and employee empowerment of selected deposit money banks in Warri, for the advancement of organizational set goals.

 

1.8 LIMITATION OF THE STUDY

In the course of carrying out this study a lot of challenges were encountered.

Financial problem: the researcher was not financially fit and as a result, the researcher could not find it easy in moving from one place to another.

Another challenge encountered was the inability to convince the management of the organization that the aim of the research was merely for academic purpose. Some management staff refused to disclose some fact and data useful for the study. This also posed some problem in writing this project.

1.9 DEFINITION OF KEY ERMS

i. Leader: A leader is a person who directs the behaviour of group members and gives instruction on how a task is to be done.

ii. Leadership: Is the process of influencing the activities of organized group toward goal setting and goal achievement.

iii. Employee: Is a person employed to work under a leader and is being directed and organized by a leader.

iv. Objective: Is the aim an organization wants to achieve.

v. Organization: This means two or more people getting together for a purpose.

vi. Relationship: The way two or more people are connected.

vii. Cooperation: The willingness to be helpful and do what you are asked to do.

viii. Managerial Power: The power of directing Human Resource to work toward achievement of good.

ix. Responsibility: A duty placed on someone.

x. Resources: Materials need for the effective running of an organization which is either in human or raw material form.

xi. Productivity: The rate at which a worker or company produces goods, and the amount produced.

xii. Corporate leadership: is comprised of the executives and managers who run a company.



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