Entrepreneurial Leadership Styles and Business Performance in Somalia
DOI:
https://doi.org/10.47672/ijbs.2124Abstract
Purpose: The aim of the study was to assess the entrepreneurial leadership styles and business performance in Somalia.
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: The study found that there is a strong correlation between the two. Different leadership styles, such as transformational, transactional, and charismatic leadership, can impact various aspects of a business's performance, including innovation, employee motivation, and overall success. Transformational leadership, characterized by vision, inspiration, and empowerment of employees, has been found to foster a culture of innovation and creativity within organizations. This style encourages employees to think outside the box, take risks, and contribute ideas, leading to the development of new products or services and ultimately enhancing business performance. Transactional leadership, on the other hand, focuses on task-oriented activities, setting clear goals, providing rewards or punishments based on performance, and ensuring compliance with established procedures. While this style may be effective in maintaining efficiency and productivity, it may not necessarily drive long-term business growth or innovation. Charismatic leadership, characterized by a leader's strong personality, persuasive communication skills, and ability to inspire followers, can also have a significant impact on business performance.
Implications to Theory, Practice and Policy: Transformational leadership theory, charismatic leadership theory and servant leadership theory may be used to anchor future studies on assessing the entrepreneurial leadership styles and business performance in Somalia. In practice, organizations can benefit from developing leadership development programs that emphasize a combination of transformational, charismatic, and servant leadership qualities. From a policy perspective, advocating for initiatives that support leadership development and promote a culture of innovation is crucial.
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