ABSTRACT
This research examined the Effect of Leadership Styles on Workers Performance in the Banking Industry with special reference to Wema Bank Plc. The research adopted survey research design. Data were gathered through primary source with the aid of a well-structured questionnaire. Simple random sampling technique was adopted in the selection of sample, this was used to eliminate biasness in the selection process of the respondents.
Data garnered were presented on table using percentage and the formulated hypotheses were analysed with the used of Chi-square statistical method. The result of the analysis shows that there is a significant relationship between leadership style and worker’s performance. Also there is a significant relationship between leader-worker’s relations and organizational growth.
Based on the conclusion of the analysis recommendations were proffered to the staff and management of Wema Bank Plc.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Effective leadership is one of the fundamentals that is regarded for organizational success. A capable leader provides direction for the organization and lead followers towards achieving desired goals. In similar vein, employees are likely to exert more effort in their assigned tasks and pursue of Organizational interests. According to Ogbonnia Ken, “effective leadership is the ability to successfully integrate and maximize available resources within the internal and external environment for the attainment of organizational goals”. According to Oyedijo Ade, the internal and external environments of an organization are as follows:
Internal environment is within the organization itself such as its strength and weakness, resources, core competencies and its structure and processes while the external environment is outside its organization such as the opportunities and threats of its environment, industry environment, competitive environment and the macro environment that comprises of the Political, Economical, Socio-Cultural, Technological, Global and Demographic environment. According to PYE management, a leader’s typical way of behaving toward group members can be classified “leadership style”. Is the leader autocratic, participative or laissez-faire while Wikipedia added two more styles which are the narcissistic and toxic managers? Managers often use more than one of the three notable one’s depending upon the issue involved and the circumstances surrounding it. According to O.J.K Ogundele and O.T Olajide, In 2004, the government realized that for proper economic development to take place in the financial sector the financial institutions existing then need to have a strong capital base, and as such policy was put in place that they increased the capital base of prospective banks in the country to ₦25billion. This resulted in many banks merging together while some big ones are acquiring small ones. This reduced the total number of banks in Nigeria from 89 in 1998 to 25 by 2005 December and 23 by the end of 2006. Through these processes WEMA BANK did not lose its identity in the industry and based on the above scenario would it be right to submit that the leadership of the bank should take full credit for the success recorded by the bank or on the other hand, to what extent should credit be given to the leadership of the bank regarding its success.
1.2 STATEMENT OF THE PROBLEM
Since previous studies identified that leaders influence attitudes of followers, then it is possible that the workers performance is influenced by the leadership style applied by the leader. However, this statement may be too general as to be considered valid because there are no statistics to back it up, and also various styles of leadership exist, one would not know which one to recommend and which to reject. Again, can the prescribed style of leadership remain valid for improved workers performance in the banking industry? And also for every situation faced by an organization, what is the adequate leadership style that will be use to bring about greater performance from the workers or what combination of leadership styles will be more effective or efficient for greater performance in the industry.
1.3 RESEARCH OBJECTIVES
· To investigate the effective of leadership style on worker’s performance in the Nigeria banking industry.
· To evaluate the importance of leader-workers relations in organizational building.