Transactional Leadership Style and Market Share of Selected SMEs in Lagos State, Nigeria
DOI:
https://doi.org/10.53819/81018102t4059Abstract
Small and Medium Enterprises (SMEs) play an important role in the growth of national economy, driving economic development, and are widely recognized as the primary source of employment, poverty reduction, lifestyle improvement, and empowerment of low-income groups. However, notwithstanding their seeming importance, SMEs are plagued with myriads of challenges such as inadequate, inefficient, and at times non-functional infrastructure, which has led to poor market share. This study, therefore, investigated the effect of transactional leadership on market share of selected Small and Medium Enterprises (SMEs) in Lagos State, Nigeria. The study adopted survey research design. The population of the study was 8,395 which is the total number of registered SMEs in Lagos State, Nigeria. A sample size of 477 supervisors and middle level managers of SMEs were enumerated using Cochran’s (1977) formula. The study adopted stratified sampling technique. A structured, adapted and validated questionnaire was used to collect primary data from the respondents. Cronbach alpha reliability coefficient for all the constructs is greater than 0.7. Data were analyzed using both descriptive and inferential tools. Linear Regression Analysis was used to determine the effect of the variables using Statistical Package for Social Science (SPSS) version 25. The finding revealed that transactional leadership had a significant effect on market share (B = 0.599, t = 13.456, R2 = 0.287, p<0.05). The study concludes that there was a statistically significant effect of transactional leadership on market share of selected SMEs in Lagos State, Nigeria. Transactional leadership style is considered an important factor to SMEs survival and market share sustainability. It focuses on maintaining the status quo to increase company revenue and overall market share. Thus, SMEs owner/managers are encouraged to adopt the transactional leadership style, in order to achieve greater and sustainable market share.
Keywords: Leadership style, Transactional Leadership, Market Share, Organizational performance, Small and Medium Enterprises.
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Nigeria.
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Onamusi, A. B. (2020). Strategic response capability and firm competitiveness: How omoluabi leadership makes a difference. Business Excellence and Management, 10(4), 23-37.
Orlizky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate social and financial performance: A meta-analysis. Organization Studies, 24(3), 403-412.
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Osuji, E. (2016c, June 1). Saving the small business from recession. BusinessDay, p. 40.
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Purwanto, A., Bernarto, I., Asbari, M., Wijayanti, L. M., & Hyum, C. C. (2020). Effect of transformational and transactional leadership styles on public health centre performance. Journal of Research in Business, Economics and Education, 2(1), 304-314.
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Sadeghi, A., & Pihie, Z. A. L. (2012). Transformational leadership and its predictive effects on leadership effectiveness. International Journal of Business and Social Sciences, 3(7), 186-197.
Saeed, M., & Mughal, Y. H. (2019). Role of transactional leadership style upon performance: Mediating role of culture. Journal of Managerial Sciences, 13(1), 47–57. Retrieved from https://eds-b-ebscohost
Samson, A. T., & Ayodeji, I. O. (2019). The relationship between transactional leadership, transformational leadership and performance of SMEs in Nigeria. Noble International Journal of Business and Management Research, 3(4), 73-85.
Sawaean, F. A. A., & Ali, K. A. (2020). The mediating effect of TQM practices on the relationship between entrepreneurial leadership and organizational performance of SMEs in Kuwait. Management Science Letters, 10(4), 789-800.
SMEDAN, (2013). Small and Medium Enterprises Development Agency of Nigeria. Smedan and National Bureau of Statistics collaborative survey 2013. Retrieved from http://smedan.gov.ng
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Published
2022-08-03
How to Cite
Oyelade , K. A., Akpa, V. O., Olawore, O. P. ., Adesanya, A. S., & James , M. T. . (2022). Transactional Leadership Style and Market Share of Selected SMEs in Lagos State, Nigeria. Journal of Human Resource & Leadership, 6(2), 57–71. https://doi.org/10.53819/81018102t4059
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