LEADERSHIP THEORIES: AN INVESTIGATION INTO THE APPLICATION OF LEADERSHIP THEORIES AMONG CHIEF EXECUTIVE OFFICERS OF ZIMBABWE STOCK EXCHANGE LISTED COMPANIES

LEADERSHIP THEORIES: AN INVESTIGATION INTO THE APPLICATION OF LEADERSHIP THEORIES AMONG CHIEF EXECUTIVE OFFICERS OF ZIMBABWE STOCK EXCHANGE LISTED COMPANIES

DOUGLAS ZIMBANGO

Leadership in Africa is under-researched while academic investigation into leadership has been much more rigorous, in terms of trends, in America and Europe. In Africa, there is sparse empirical research on leadership in business organizations. This study contributes towards closing the gap through investigating the application of leadership theories by Chief Executive Officers of Zimbabwe Stock Exchange listed companies. While the theoretical propositions and frameworks have been largely influenced by empirical studies within the Western World, emerging studies on African leadership and management culture show a gap that needs to be filled for Africa to move forward. This research, therefore, investigates the efficacy and relevance of some of the theories on leadership by focusing on Chief Executive Officers (CEOs) drawn from organizations listed on the Zimbabwe Stock Exchange during the period 2005 to 2010. The research will also aim to analyse the leadership characteristics that help to transform a corporation into a social system. In essence, the study sought to ascertain the role of the various factors proposed in the literature as affecting leadership and how leaders act to get the best out of their subordinates through inducing an appropriate action for a particular need. The theoretical proposition posed is that leaders, through influencing an entire group, can improve the fortunes of a company. The research problem for this study is premised on the resource endowment and educational levels in Zimbabwe which do not reconcile with the level of development in the country especially when compared with Asian countries that were at the same levels of development just a few decades ago. The research methodology applied to investigate the application of theory, in this study, involved a combined approach i.e. quantitative and qualitative analysis (triangulation). Instruments used to investigate the underlying practices and characteristics of leaders in a developing country context were questionnaires, observations, case studies and oral interviews. The archival method of directing questions at a population concerning key issues was aimed at understanding the present and predicting the future. The qualitative approach informed by phenomenology was used to come up with a holistic view where emphasis was on meaning rather than frequency while the quantitative approach was used to determine frequency. This process introduced flexibility as it allowed for greater spontaneity and adaptation through the more elaborate responses by respondents and follow up questions. The study looked at the evolving theories of leadership from the Great Man and Trait theories, Behavioural Theories, Theory X and Y, the Contingency/Situational Theories and Transformational theories and investigated their application by Chief Executive Officers of Zimbabwe Stock Exchange listed companies between the period 2005 to 2010. The findings from this research support calls against the blanket implementation of universal models of leadership and leadership development, as well as approaches that break culture down into a series of discrete dimensions. They call for the facilitation of a more constructionist approach to the surfacing of Afro-centric knowledge about leadership and management. The study concluded that while some Western World principles, with regards to work and leadership, do not work in an African set up, it is agreed that the underlying theories on leadership are applicable universally but their universal and uncritical acceptance without regard to culture and the peculiarities of the operating environment does not work. The study calls for a pragmatic adaptation of the theories for application in Zimbabwe. Finally, the study recommends further and deeper studies with specific interest on African and Zimbabwean cultural and environmental idiosyncrasies.

ZOU

2013

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