Transformational Leadership and Innovation Key to State Corporations Growth
Keywords:
Transformational leadership, Innovation, State Corporations growth, KenyaAbstract
Economic development of any country depends on efficient use of her resources both tangible and intangible. Transformational leaders use their talents not only to transform their organizations but they also become role models by persuading their colleagues to work in ways that achieve the objectives and goals of their organization. Transformational leaders create a culture in which all members of the organization strive towards a common shared vision. The study has two objectives, namely; to determine the influence of transformational leadership on growth of financial State Corporations in Kenya; to determine the influence of innovation on growth of financial State Corporations in Kenya. A census study using cross sectional survey design was used to achieve the study objectives. The target population was 24 employees from 12 State Corporations in Financial sector who were subjected to performance appraisal since 2008 when the exercise was implemented in Kenya. The study selected two respondents from each State Corporation comprising of the Managing director or human resource director and a Chief finance officer. Semi-structured questionnaires were administered to 24 respondents to collect primary data for this study. Data analysis was done using Statistical Package for Social Sciences (SPSS). Content analysis was used to achieve the objective of the study. Poor forecasting leading to projects taking long to complete, absence of Research and Development (R&D) to spearhead innovations together with poor risk management strategies was found to be hindering fast growth of the Corporations. To achieve faster growth of State Corporations, transformational leadership and proper forecasting together with strengthening Research and Development should be enhanced.
Keywords: Transformational leadership, Innovation, State Corporations growth, Kenya
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