Transformational Leadership And Team Performance Of Deposit Money Bank In Rivers State, Port Harcourt

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Transformational Leadership And Team Performance Of Deposit Money Bank In Rivers State, Port Harcourt


Abstract


This study was carried out to examine transformational leadership and team performance of deposit money bank using Union Bank in Rivers State, Port Harcourt as a case study. The study was carried out to determine whether there a relationship between transformational leadership style and team performance deposit money banks in Rivers State, Nigeria, find out the extents transformational leadership style is accepted among deposit money banks in Rivers State, Nigeria, investigate whether transformational leadership style promotes better team cooperation in deposit money banks in Rivers State, Nigeria, and find out whether transformational leadership style improves team commitment and productivity in deposit money banks in Rivers State, Nigeria. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of selected staff of Union Bank in Rivers State, Nigeria. In determining the sample size, the researcher conveniently selected 57 respondents and 50 were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables. While the hypotheses were tested using Pearson Correlation statistical tool, SPSS v23. The result of the findings revealed that there is a relationship between transformational leadership style and team performance deposit money banks in Rivers State, Nigeria. The study also revealed that transformational leadership style improves team commitment and productivity in deposit money banks in Rivers State, Nigeria. Therefore, it is recommended that the managers of the deposit money banks should display a transformational leadership style which inspires the employees as such will help enhance the engagement of the employees. To mention but a few.


Table of Content


  • Title Page
  • Certification
  • Dedication
  • Acknowledgement
  • Table of Content
  • List of Tables
  • Abstract

Chapter One:

Introduction

  • 1.1 Background of the Study
  • 1.2 Statement of the Problem
  • 1.3 Objective of the Study
  • 1.4 Research Questions
  • 1.5 Research Hypothesis
  • 1.6 Significance of the Study
  • 1.7 Scope of the Study
  • 1.8 Limitation of the Study
  • 1.9 Definition of Terms
  • 1.10 Organisations of the Study

Chapter Two:

Review of Literature

  • 2.1 Conceptual Framework
  • 2.2 Theoretical Framework
  • 2.3 Empirical Review

Chapter Three:

Research Methodology

  • 3.1 Research Design
  • 3.2 Population of the Study
  • 3.3 Sample Size Determination
  • 3.4 Sample Size Selection Technique and Procedure
  • 3.5 Research Instrument and Administration
  • 3.6 Method of Data Collection
  • 3.7 Method of Data Analysis
  • 3.8 Validity of the Study
  • 3.9 Reliability of the Study
  • 3.10 Ethical Consideration

Chapter Four:

Data Presentation and Analysis

  • 4.1 Data Presentation
  • 4.2 Analysis of Data
  • 4.3 Answering Research Questions
  • 4.4 Test of Hypotheses

Chapter Five:

Summary, Conclusion and Recommendation

  • 5.1 Summary
  • 5.2 Conclusion
  • 5.3 Recommendation
  • References
  • APPENDIX
  • QUESTIONNAIRE

Chapter One


Introduction

1.1 Background of the Study

Perhaps, one of the most important aspects of management is leadership. This is because leadership is a major factor that contributes to the general wellbeing of organizations and even nations. Nations like the United State of America, Britain, France, China and India are some of the most prominent nations in the world are on the wings of effective leadership. Leadership here is seen as the process of influencing groups to achieve goals, while a leader is someone who can influence others (Cole, 2006; Robbin and Coulter, 2007).

According to ElMasri et al, (2015), Organizations are the engine that drives a nation’s economic, social, and political progress. Given that organizations face constant change, managers and organizations have been urged to bemore sensitive regarding employees and organizational performance. Therefore, organizational performance has become a topic of interest for all organizations, profit or non-profit, and managers are interested in figuring out which factors influence performance in order to take appropriate steps to initiate them.
To ensure survival and achieve performance, organizations have adopted various tools and management philosophies that lead to better results and higher profit margins. Organizations now focus on areas like corporate social responsibilities to improve their performance. Reason is that, though profit has traditionally been regarded as a measure of organizational success, recent views suggest that other factors have come into play (Erhemjamts et al., 2013). Furthermore, globalization and the increasing public concern for the natural environment/socialissues have also contributed to making corporate social responsibility an important topic.

Because of these conditions governments have not been able to handle all the needs of society on their own and as a result have recruited the help of businesses by pushing them to assume their role in society (Jamali & Mirshak, 2007). Going with Berland& Loison (2008) organizations must take into account not just their economic performance but also their social and environmental performance. Pursuing economic performance only may lead to overlooking the natural environment, hence the disruption of the organization’s survival (Peters, 2007). Therefore, it can be seen that the survival of organizations no longer depends on financial competitiveness; rather organizations have to justify their existence to all stakeholders by satisfying the needsof social actors who are interested in the organization (Daza, 2009).

Organizations are institutions with definite visions and mission. For instance, financial institution like banking sector majorly deal with liquid asset by making funds available from surplus side to deficit side. According to Dabwor (2018), a growing economy places more emphasis on the financial sector especially the banking sector to mobilize the needed capital to facilitate production, generate employment and income. The visions and mission associated with public limited liability companies (Plc) lies with the type of leadership style adopts by the organization. For instance, decision on organization performance is unanimously taken by both leader and followers under transformational leadership with the aim to develop their skills. In view of this, Wang, et al. (2011) reveal that transformational leadership and organizational performance are directly related. In the word of Ebrahim (2018), transformational leadership enhances the capabilities and abilities of employees to perform efficient, which have a significant effect on organization’s performance. Also, charismatic as style of leadership plays a significant role on performance. According to Ojokuku, et al., (2012), charismatic leadership style does not inspire and encourage the employees enough to achieve the expected organization’s performances. Awwal, Halimah and Sakinah (2019) also supported the claims and reveal that charismatic leadership style does not guarantee timely result delivery.

Every firm especially the Plc organization like Nigerian commercial bank is a profit oriented venture in which its performance is a major concerned for every stakeholder’s (shareholders or institutional investors). Profit maximization as one of the core determinants of firm performance to some extent determine the continuity and survival of business organization. Therefore, the rate at which a firm could perform its operation capacity hinge on its combined leadership styles. For instance, Central Bank of Nigeria (CBN) 2009 financial stress test discovered that bank distress experienced by some commercial banks in Nigeria were mainly caused by poor corporate governance, poor leadership style, capital adequacy, risk management and liquidity. Also, Oyerinde, (2014) supported the above claims and shows that some banks leaders in Nigeria failed to understand importance attached to leadership style, corporate governance structure and firm performance; therefore, lead to failure of many of them in their statutory responsibilities. Furthermore, Ebrahim (2018) reveals that adoption of transactional leadership styles adversely reduce organizational performance.

In business setting, every organization intends to sustain its operation with the believe to continuously evaluating its performance either through productivity or profitability. In view of this, Majed, Said and AL Nu’aimat, (2012) reveal that profitability ratios measures earning capacity of the firm, which also acts as an indicator for its growth or success. A Plc organization is an organization with a separate legal entity whose individual shareholder is limited; therefore, its performance determines survival and continuity. Joe and Kechi (2011) discovered that poor internal controls, absence of commitment leadership style and poor operating environments are responsible for failure of many organizations. The commercial banks are organizations that exhibit most features of Plc as of today in Nigeria. Also, some set of these banks experienced financial distress in 2007-2009, in which poor leadership style was identified as one of the factors responsible for it hence the need for this study.


1.2 Statement of the Problem

The issue of performance of the deposit money banks has become a more critical issue in recent times as a result of the imponderable nature of the business environment which has negatively affected the operation of the organization. Organizations today face a myriad of pressures in the face of global competition. The problem of poor performance in the deposit money banks have manifested in the form of low profitability, low return on asset, loss of market share and low return on investment. The banking sector has undergone several challenges which have affected the performance of the firms over the years (Samsudin, 2018).

Low performance of some of the deposit money banks have become a serious concern because a firm that perform below expectation may not be able to maintain a competitive edge in their various industry. Furthermore, the problem of low performance of some of the deposit money banks do results in low level of market share and also loss of competitive advantage in the industry and if care is not taken may spell an end to the operations of a firm. However, the poor performance of some of the banking firms has resulted in several untold hardship as some of the employees are been laid off which has intensified the rate of unemployment in the country.

Furthermore, poor performance of the deposit money banks affects the reputation of the banks and if not addressed in time may lead to withdrawal of customer‟s loyalty. Adam (2014) stated that the performance of the deposit money banks have been negatively influenced by globalization, volatile market pressure and stiff competitiveness. The inability of the banks to ensure optimal maximization of shareholders wealth will increase dissatisfaction among shareholders and such could result in the shareholders withdrawing their investment which could have several untold consequences. The challenge of performance has over time forced some deposit money banks into merger and acquisition. Some of the deposit money banks have over the years liquidated as a result of the inability to cope with the turbulent nature of the business world. It is more interesting to note that the business environment gets more tough and become highly imponderable on daily basis. Furthermore, Demirguc-Kunt, Pedraza and Ruiz-Ortega (2020) observed that the outbreak of the Corona virus disease (COVID-19) affects the performance of the deposit money banks. The authors noted that the pandemic had a more negative impact on banks as compared to other non-financial institutions.

Hence, the ability of the leaders of these banks to make informed decisions will go a long way in sharpening the success story of the organization. Harris (2007) postulated that leadership style is the kind of relationship utilized by an individual in order to inspire people to work together towards achieving a common goal. Ukaidi (2016) stated that leadership take place when an individual influences other to act voluntarily above the minimum work requirement. The author noted that the style employed by leaders in the organization has a great impact on their operations. Leadership style shapes the attitude and behaviour of workers in the organization (Uchenwangbe, 2013). Ukaidi, (2016) found that leadership vacuum has been noticed and confirmed in every sphere of the Nigerian nation and there is desperate need for competent and principled leaders across the Nigerian sectors. A large number of organizations spend considerable huge amount on solving managerial /leadership problems. Several organizations today have a problem of leadership and the style to be adopted in leading the organizations to attain their desired performance. The absence of effective leadership is a serious problem in many organizations. It is obvious that the resultant outcome of inappropriate leadership style is poor performance, absence of motivation, poor growth and poor organizational success. In view of this, the study examined transformational leadership and team performance of deposit money bank in Rivers State, Port Harcourt.


1.3 Objectives of the Study

The broad objective of this study is to examine transformational leadership and team performance of deposit money bank in Rivers State, Port Harcourt.

Specifically, other objectives of this study are:

  1. To determine whether there a relationship between transformational leadership style and team performance deposit money banks in Rivers State, Nigeria.
  2. To find out the extents transformational leadership style is accepted among deposit money banks in Rivers State, Nigeria.
  3. To investigate whether transformational leadership style promotes better team cooperation in deposit money banks in Rivers State, Nigeria.
  4. Find out whether transformational leadership style improves team commitment and productivity in deposit money banks in Rivers State, Nigeria.

1.4 Research Questions

The following research questions will be answered in this study:

  1. Is there a relationship between transformational leadership style and team performance deposit money banks in Rivers State, Nigeria?
  2. What is the extents transformational leadership style is accepted among deposit money banks in Rivers State, Nigeria?
  3. Does transformational leadership style promotes better team cooperation in deposit money banks in Rivers State, Nigeria?
  4. Does transformational leadership style improves team commitment and productivity in deposit money banks in Rivers State, Nigeria?

1.5 Research Hypotheses

The following null hypotheses will validate this study:

  • Ho: There is no relationship between transformational leadership style and team performance deposit money banks in Rivers State, Nigeria.
  • Ha: There is a relationship between transformational leadership style and team performance deposit money banks in Rivers State, Nigeria.

1.6 Significance of the Study

This study will be significant to the deposit money banks, to the different stakeholders of the organization, to the policy makers, to scholars and future researchers. This study is going to be of great relevance to the deposit money banks because it is going to reveal how the various leadership style displayed by the leaders in the organization relates with the total performance of the organization. This study will also reveal how organizational climate moderate the relationship between leadership style and organizational performance of the deposit money banks in Rivers State, Nigeria.

Furthermore, this study is going to be of importance to the various stakeholders of the deposit money banks because it is going to proffer ways to enhance the performance of the organization and by extension boost the quality service delivered to customers and also help enhance the shareholders wealth. This study will also be relevant to policy makers in enacting necessary policies that is relevant in improving the performance of the organization. The various construct in this study will be extensively discussed and thus enrich the wealth of knowledge on the subject matter which will thus make this work a reference material to scholars and future researchers.


1.7 Scope of the Study

Broadly, this study will focus on transformational leadership and team performance of deposit money bank in Rivers State, Port Harcourt. Specifically, this study will focus on determining whether there is a relationship between transformational leadership and competitive advantage of deposit money banks in Rivers State, Nigeria, investigating whether there is a relationship between transformational leadership and customers satisfaction of deposit money banks in Rivers State, Nigeria and investigating whether there is a relationship between transformational leadership and innovation of deposit money banks in Rivers State, Nigeria.
Selected staff of Union Bank in Rivers State, Nigeria will form the population of this study.


1.8 Limitations of the Study

This study was limited by some deposit money bank management’s unwillingness to provide some sensitive information and their fear of publishing, which may jeopardize their operations.

A key drawback was the distance and associated cost of travel in order to acquire information for this investigation. Another limitation of the study is the limited time frame, which did not allow for full investigation, making it a little difficult to acquire appropriate data.

Finally, the scarcity of materials on the subject is another limitation. In Nigeria, this is a first in the field of forensic accounting for fraud detection and prevention. As a result, the researcher resolved to use a friendlier approach in order to gather the necessary materials or information from the company under investigation via questionnaire administration.


1.9 Definition of Terms

Transformational Leadership:

This is the form of leadership in which the leader sees himself as an agent of change.

Organizational Performance:

Organizational performance as the ability of an organization to acquire and put to use its scarce resources and valuables judiciously as possible in the realization of the operational goals and objectives.

Banks:

A bank is a financial institution licensed to receive deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and safe deposit boxes. There are several different kinds of banks including retail banks, commercial or corporate banks, and investment banks.


1.10 Organization of the Study

The study is categorized into five chapters. The first chapter presents the background of the study, statement of the problem, objective of the study, research questions and hypothesis, the significance of the study, scope/limitations of the study, and definition of terms. The chapter two covers the review of literature with emphasis on conceptual framework, theoretical framework, and empirical review. Likewise, the chapter three which is the research methodology, specifically covers the research design, population of the study, sample size determination, sample size, abnd selection technique and procedure, research instrument and administration, method of data collection, method of data analysis, validity and reliability of the study, and ethical consideration. The second to last chapter being the chapter four presents the data presentation and analysis, while the last chapter(chapter five) contains the summary, conclusion and recommendation.


Chapter Five


Summary, Conclusions and Recommendations:

5.1 Introduction

This chapter summarizes the findings on transformational leadership and team performance of deposit money bank using Union Bank in Rivers State, Port Harcourt as a case study. The chapter consists of summary of the study, conclusions, and recommendations.


5.2 Summary of the Study

In this study, our focus was to examine transformational leadership and team performance of deposit money bank using Union Bank in Rivers State, Port Harcourt as a case study. The study was specifically carried out to determine whether there a relationship between transformational leadership style and team performance deposit money banks in Rivers State, Nigeria, find out the extents transformational leadership style is accepted among deposit money banks in Rivers State, Nigeria, investigate whether transformational leadership style promotes better team cooperation in deposit money banks in Rivers State, Nigeria, and find out whether transformational leadership style improves team commitment and productivity in deposit money banks in Rivers State, Nigeria.

The study adopted the survey research design and randomly enrolled participants in the study. A total of 50 responses were validated from the enrolled participants where all respondent were selected staff of Union Bank in Rivers State, Nigeria.


5.3 Conclusions

Based on the findings of this study, the researcher concluded that;

  1. There is a relationship between transformational leadership style and team performance deposit money banks in Rivers State, Nigeria.
  2. The extents transformational leadership style is accepted among deposit money banks in Rivers State, Nigeria is high.
  3. Transformational leadership style promotes better team cooperation in deposit money banks in Rivers State, Nigeria.
  4. Transformational leadership style improves team commitment and productivity in deposit money banks in Rivers State, Nigeria.

5.4 Recommendations

Based on the findings of the study, the following recommendations are proffered.

  1. The managers of the deposit money banks should display a transformational leadership style which inspires the employees as such will help enhance the engagement of the employees.
  2. The managers of the deposit money banks should always act beyond self-interest for the good of the organization as such will enhance the affective engagement of the employees.
  3. The managers and supervisors of the deposit money banks should also act as a positive role model in order to enhance the cognitive engagement of the employees.
  4. The managers of the deposit money banks should display a leadership style that encourages employee development as such will help enhance their engagement.

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