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Abstract
The purpose of the cross-sectional study was to determine the leadership practices in a retail bank in South Africa. A self-administered anonymous questionnaire was used to collect the data, using an online survey tool (QuestionPro). A total of 60 managers completed the questionnaire. Results showed that there was a significant relationship between leadership practices and leadership style in the organization. Transformational, transactional and laissez-faire leadership styles were the important predictors, which influenced the leadership practices of the managerial bank employees. Therefore, managers should adopt different leadership behavior, depending on several other situational factors that come to hand. Keywords: leadership practices, retail banking, manager, factor, South Africa. JEL Classification: G20, G21, M10, M12, L21
Highlights
In any organization or institution, the role of leadership is crucial for its proper functioning and welfare
The main aim of the study is to conduct an empirical investigation of the key success factors that impact on retail banking, in relation with leadership practices
The results of this study indicate that transformational leadership was the most effective leadership practice in Nedbank, in South Africa
Summary
In any organization or institution, the role of leadership is crucial for its proper functioning and welfare. The economy was performing well and the country had managed to cope with its internal transition and global challenges. 21st century, many countries, including South Africa, experienced the global economic crisis. The current financial crisis is affecting the economy of various countries throughout the world in many aspects of everyday life and work. Taking into consideration the existing financial crisis which affects most countries worldwide, the concern of many researchers has been turned to the study of banking institutions’ function and the wellbeing of bank employees. It is, difficult to handle people who are physically, psychologically, culturally and ethnically different from each other. The management of employees is largely dependent on the quality of leadership organizations (Albion and Gagliardi, 2007)
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