Challenges facing organizational leaders

In the first decade of the 21st century, the number of functioning business organizations in Nigeria decreased by 45%. The high rate of business failures in Nigeria has left many questions about what is needed for creating business success. The purpose of this qualitative phenomenological study was to explore the influence of internal and external dynamics on leaders in Nigerian microfinance organizations. There was a common perception among the participants that there was a need for government intervention in providing improved infrastructure and adequate regulatory controls. The findings provide indications from participants' responses that business success is dependent upon business leaders' effectiveness in their roles and ethical practices as perceived by the followers. The study is significant in that its findings may assist businesses and government to focus on the effectiveness of leaders, increase labor relations, and increase the overall success of business which in turn improve the economy of Nigeria.

Autorentext

Adesina Olufemi Adegunle is a serial entrepreneur based in Ibadan, Nigeria. He studied Accountancy from the Polytechnic, Ibadan and Personal Psychology from Univ. of Ibadan. He holds a Ph.D in Management (specializing in leadership and organizational change) from Walden Univ, USA. He is a Fellow of the Chartered Institute of Taxation, Nigeria.