Original scientific paper
https://doi.org/10.17559/TV-20150624082830
Impact of transformational leadership on business performance
Edin Strukan
; Analysis sector, PI Pedagogical Institute of the Una-Sana Canton, Maka Dizdara 3, 77000 Bihać, Bosnia and Herzegovina
Milan Nikolić
; Department of Engineering Management Technical faculty "Mihajlo Pupin", Zrenjanin, University of Novi Sad, Đure Đakovića bb, 23000 Zrenjanin, Serbia
Senad Sefić
orcid.org/0000-0001-9734-6814
; Connecta d.o.o., Džemala Bijedića 172b, 71000 Sarajevo, Bosnia and Herzegovina
Abstract
Research results about the impact of transformational leadership on business performance in companies in Bosnia and Herzegovina are presented in this paper. Financial performance and new product development are considered as business performances. Shown data are gained from survey of N=127 top managers. Descriptive statistics and correlation analysis are statistical evaluation methods used in this survey. The research results show that transformational leadership has positive impact on acquirement of high level financial performance of company and new product development. Research has also shown that leaders and managers of companies in Bosnia and Herzegovina focus their attention more on tasks than on people. So recommendation for them is to pay more attention to the changes, the future and long-term plans, as well as to their employees. It is very important for leaders to be ready to create and implement changes, to have vision, to be focused to the future and long-term plans and effects.
Keywords
Bosnia and Herzegovina; financial performance; new product development; transformational leadership
Hrčak ID:
186086
URI
Publication date:
2.9.2017.
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