Leadership Competencies: The Contribution Of The Bachelor In Management And Leadership (BML) To The Development Of Leaders At First National Bank, South Africa

Abstract

The importance of effective managerial leadership is vital within the business environment. Business leaders, including those within the financial services industry, are confronted with numerous challenges. In order to deal effectively with those challenges, the unique developmental needs of business leaders need to be addressed continuously. From a South African perspective, business leaders are confronted with unique challenges such as globalisation, cultural diversity, black economic empowerment and transformation. Leaders whose competency levels are adequately developed are able to address these issues and succeed in adding value to their organisations. The question is whether the required leadership competencies can be acquired through tertiary education programmes that are specifically designed for adult learners, and whether this learning contributes to the growth of successful business leaders. This study focused on the leadership competencies required by leaders within the financial services industry exploring the contribution made by the Bachelor in Management and Leadership degree (offered by the University of the Free State in South Africa) to the development of leaders at First National Bank, a major financial services provider in South Africa. The results of the study indicated that the BML has indeed addressed the researched managerial leadership competencies utilised by First National Bank and that the programme has contributed significantly to the development and growth of its managerial leaders. However, certain gaps were identified and in order to ensure the sustainability of acquired knowledge and skills, it is recommended that a coaching and mentorship programme be introduced and implemented by First National Bank. It was also found that leadership in Africa faces unique challenges and it is foreseen that South African companies will place more emphasis on African leadership competencies in their leadership development programmes.