An appropriate leadership model for the banking industry

Abstract

This study aims to measure the managerial skills of managers working in the banking industry. To do so, the newly developed managerial skills measuring instrument of Thekiso (2011) was used by to determine skills for managerial competence in the banking industry. The seven managerial skills that are covered in the questionnaire are: Self awareness skills; Self directed career planning; Integrative skills; Planning and controlling skills; Organizing skills; Leading skills; and Managing change skills. Even though some skills may appear on a less frequent basis, six of the seven skills were rated to be of a high importance, with their means ranging between 4.008 and 4.480 on the 5-point Likert scale. Training in the form of mentoring and stewardship programs, to transfer knowledge and introduce existing relationships to up and coming leaders, would be of great value for companies in the banking industry to foster these seven managerial competency skills. By implementing training and mentoring programs on a much broader scale, organisations can train and use their leaders' abilities to gain competitive advantage in the market.