Leadership Styles at Haramaya University and Implications for Corporate Success
Leadership is a key factor for determining success or failure of an organization. As a result, a number of organizations underperform and fail to achieve their objectives because of problem of leadership. Therefore, it is important to study leadership styles and address accompanying problems to enhance organizational success. This study was conducted in Haramaya University to determine the impact of selective leadership style on corporate success. A total of 80 respondents (n = 80) from various management levels were randomly selected and requested to fill a questionnaire. The data were subjected to statistical analyses. Correlation analysis was employed to determine the associations between the independent variables (laissez-faire leadership, transactional leadership and transformational leadership) and the dependent variable (corporate success) and linear regressions analysis and independent t- test were employed to determine the impact of those leadership styles on corporate success. The result showed that transformational leadership style (β = 0.492), and transactional leadership style (β = 0.392) have a positive significant impact on corporate success and that of laissez-faire leadership style (β = -0.789) has a negative significant impact on corporate success. Based on this findings, leaders at Haramaya University should avoid laissez-faire leadership style by becoming more involved in guiding their subordinates. On the other hand, leaders at Haramaya University should formulate and implement effective rewards and recognition (motivation) systems. It was further recommended that Haramaya University leaders should strive to become transformative by providing meaning and challenge to work, stimulating subordinate efforts to become more innovative and creative, and paying greater attention to each individual’s need for achievement and growth.