Design Compatibility of Classroom Furniture in Urban and ... - IOSR

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IOSR Journal Of Humanities And Social Science (JHSS) ISSN: 2279-0837, ISBN: 2279-0845. Volume 6, Issue 2 (Nov. - Dec. 2012), PP 46-68 www.Iosrjournals.Org The Impact of Corporate Governance and Leadership on Entrepreneurship Development in Nigeria 1 Atoyebi Kehinde .O., 2 Adekunjo Felix .O., 3 Kadiri kayode .I., 4 Ogundeji Musibau .O., 5 Falana Adedamola .A. 1,2,3,4,5 Dept. Of Economics. Lagos State University, Ojo. Abstract: The study empirically examined the impact of leadership and corporate governance in Nigeria. The paper gather information through structured questionnaire and this was analysed through simple percentage, table for tabular analysis, and the spearman’s rank correlation coefficient for the testing of formulated hypothesis. The results revealed that effective leadership and good corporate governance determines the success of organisation. In the analysis, we found out that corporate governance policy has really helped Nigerian entrepreneur to grow financially. Based on our findings, effective leadership and good corporate governance was a solution to global financial crises, organisation problems and the right policy that enhances increased productivity and economic growth in Nigeria. Key words: Corporate Governance, leadership, entrepreneur, productivity. I. Introduction All enterprise and organizations, both profit and profile conduct their business through involvement and respect for those work in them, achieve superior results, Cadbury (1996) posited that leadership is the creation of vision about a defined future state, which seeks to enmesh all membership of an organizational setting, the effect which is relevant to the attainment of the organization goals. Cooperate governance on its own is defined as an at, fact and manner of controlling, ruling and directing the public affairs of city, country e.t.c Enabunene (2005) defines it is the exercise of political power to move a nation‟s affair forward. Considering the modern business environment, corporate govern an has biome a priority objective for emergent economics from Latin American to China and the world at large. Recently, there has been considerable practices of modern corporations, particularly since the high profile collage of large US firms such as Enron Corporation and worldcom. In Nigeria likewise, big firms which seems to be doing well such as Commercial Banks, Forum Limited, Universal Trust Bank Limited, Savannah Bank Limited and others, suddenly collapse due to array of problems ranging from ineffective leadership and corporate governance coupled with poor and instable economic environment. There are other problems associated with this issues and they are: Unethical behaviour on the side of the leaders, lack of cooperation among the operators of the organization, poor quality leadership styles in directing their affairs of the organization, territorial conflicts, i.e the extension of duties and responsibilities beyond one is jurisdiction which an lead to disagreement between the shareholders and the managers and a list more. In the light of this background, the study will however adds to the existing literature by re-examine the impact of leadership and corporate governance on entrepreneurship development in Nigeria and also to take a cursory look at other factors affecting growth and entrepreneurship development in Nigeria. Also, analysing the relevance of ethnics in the business environment in Nigeria. 1.1 PURPOSE OF THE STUDY The focus of this study is however on the impact of leadership and corporate governance on entrepreneurship development with reference to Zenith Bank Plc and Bank of Industry. The right of individual owners and shareholders, managers and their subordinates, has become a debatable issues globally, hence the need for effective leadership and corporate governance in the business environment especially Zenith Bank Plc and Bank of Industry to enhance efficiency. Other purpose of this research work is to: Take a look at the other factors affecting the growth and development of entrepreneurship in Nigeria; Analyze the significance of ethics in the business environment (organization); Know the extent at which leadership and corporate governance has helped small and medium scale enterprises to combat organizational conflicts; Examine the impact of leadership and corporate governance on entrepreneurship development; Take a www.iosrjournals.org 46 | Page
The Impact Of Corporate Governance And Leadership On Entrepreneurship Development In Nigeria look at the relationship between leadership corporate governance and entrepreneurship development; Examine the contributions of entrepreneurship development to the growth and development of Nigerian economy. 1.2 RESEARCH QUESTIONS To achieve direct result, this research work will attempt to ask the following questions. Is there any relationship between leadership, corporate governance and entrepreneurship development? Does the success of business organization depend largely on the quality of leadership and corporate governance? Is selfish interest of the chief executive officers one of the factors affecting corporate governance in an organization? Can an unethical behavior of the leaders hinder the smooth running of an organization? Can ineffective leadership and poor corporate governance pose negative effect on entrepreneurship growth and development? Does good leadership structure in business organizations enhances the achievement of superior results? Can effective leadership and corporate governance create the rights climate for effective production and work satisfaction? Do leadership corporate governance has positive impact entrepreneurship development? Has entrepreneurship development contributed to the growth and development of the Nigerian economy? 1.3 STATEMENT OF THE HYPOTHESES Osuala (2005) describes hypotheses as conjectural statement of the relationship between two or more variables. Therefore, the hypotheses formulated for this research work are shown below where (Ho) represents Null Hypothesis while (Hi) denotes Alterative Hypothesis. Ho: Organizational success or otherwise does not depend largely on the quality of leadership and corporate governance. Hi: Organizational success or otherwise depends largely on the quality of leadership and corporate governance. Ho: There exist no significant relationship between leadership, corporate governance and entrepreneurship development. Hi There exist a significant relationship between leadership, corporate governance and entrepreneurship development. Ho: Ineffective leadership and poor corporate governance do not affect entrepreneurship development. Hi: Ineffective leadership and poor corporate governance affect entrepreneurship development. 1.4 SIGNIFICANCE OF THE STUDY (JUSTIFICATION) On this note, the study is justified based on the fact that leadership and corporate governance are needed in the banking industry for its development and so as affect positively entrepreneurship development. Since effective leadership and corporate governance structure determines the achievement, success and progress an organization can attain, this research work is very important to the banking industry, including Zenith Bank Plc, and entrepreneurs as it will help them to manage their enterprises to attain greater height. Also, this study will help the leaders to see the need to imbibe ethical behavior and inculcate it into their subordinates which will in no small measure help in combating unethical behavior in the organization and the society at large. The rest of the study is organized as follows: section 2 reviews the existing literature and theoretical framework. Section 3 presents the data and the analysis of the results. The last section gives the summary, conclusion and recommendations II. Literature Review And Theoretical Framework The impacts of leadership and corporate governance on entrepreneurship development in Nigeria and the world at large can not be overemphasized. To have a better understanding about the above assertion, it is necessary to define and explain in details the following terms: leadership, corporate governance, and entrepreneurship development. All enterprises and organizations, both profits and non-profits which conduct their business through involvement and respect for those who work in them, achieve superior results. Gannon (1977) states that without effective leadership, it is difficult for an organization to function effectively. Leaders or manager define the goals the organization pursues; they develop the planning and control systems that guide and monitor the organization's destiny; they construct an organizational structure appropriate for the tasks undertaken; and they motivate their subordinates to complete these tasks. Cadbury (1996) assert that leadership is the creation of a vision about a defined future state, which seeks to enmesh all members of an organization in its net. He stated further that, a leader is one who designs and www.iosrjournals.org 47 | Page
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