Savings

PERFORMANCE OF SAVINGS
CHAPTER ONE: INTRODUCTION

INTRODUCTION
1.1 Background of the Study
According to Ngambi et al. (2010) and Ngambi (2011), as cited in Jeremy et al. (2011),
leadership is a process of guiding employees to realise their full potential in achieving a
shared vision, The relationship between the leader and employee is greatly influenced by
the leadership style adopted by the leader (Jeremy et al, 2011). Leadership style in an
organisation is one of the factors that influence the interest and commitment of the
individuals in the organisation (Obiwuru et al, 2011).
Phills (2005) argues that one of the importance of leadership is for the leader to influence
the performance of an organization. Michael (2011) explains that leadership has a direct
cause and effect relationship on the success of organisations. Leaders determine
performance and employee motivation. They mould organisational strategies with
emphasis on their execution and effectiveness. Robbins (2000) asserts that leadership is
the ability of superiors to direct, guide and motivate people towards the attainment of
given set of goals in an organization. House et al (2004), explains that leadership is the
ability of an individual to encourage employees to contribute towards success of their
organisation. Leadership is referred to as the interaction between employees and their
leaders aimed at achieving organisational goals.
Cap, Gemini, Ernst & Young (2000), explain that in an uncertain economy,
organizations need effective strategies for them to succeed. Leibold, Probst & Gibbert,
(2002) argue that traditional leadership approaches have been nullified by the rapid
changes in the knowledge economy. According to Ellis (2005), people are motivated,
guided and held accountable by good leadership. Fulmer (2007), points out those
employees who are led by good leaders are more satisfied than employees with poor
leaders. He further argues that people are developed into good leaders because of being
taught and following the example of leaders who are good role models. Lee and Chuang
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(2009), explain that an excellent leader inspires employees’ potential to enhance
efficiency and achieve organizational goals.
According to Armstrong (2006), performance is the achievement of quantified objectives.

Performance is not what people achieve but how they achieve it. Richard et al (2009)
explains organizational performance has three areas of organisational outcomes: financial
performance, product market performance and shareholder return. Daft ( 2011), explains
that superior organisational performance is determined b y the decisions managers
make. House and Aditya (1997) as cited by Serfontein ( 2009), assert that the best-
performing organizations are strategic in their leadership planning. Amos (2007)
contends that, to be successful in the tasks and role of strategic leadership, leaders
need to think strategically and to be emotionally intelligent; they must have certain
behaviours and wisdom to use the right combination of behaviours at the right time.
According to Johnson & Scholes (2007), many managers find it hard to get a set of
performance indicators for their organizations. Authors acknowledge that some
indicators are qualitative in nature but the hard quantitative performance assessment has
been dominated by financial analysis. They point out that in an attempt to cope with this
very heterogeneous situation, balanced score cards have been used to identifying useful,
but varied set of key measures. They further point out that balanced score cards combine
both qualitative and quantitative measures and relate an assessment of performance to
choice of strategy. Narayanan and Zane (2009), asserts that leadership should directly
impact organisational performance for it to add substance to the organisation.
According to Mwaura (2005), lack of credit analysis, credit follow-ups as well as hostile
lending are the key factors that contribute to poor performance in loan lending by
SACCO societies in Kenya. To be a true high performer, an organization must survive
and thrive across economic and market disruptions. Measurement of performance of
organizations should be multidimensional. Breene and Nunes (2006) proposed that
growth, profitability, positioning for the future and longlivity should be used to measure
performance.
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Imarisha Sacco has five branches in Kericho, Bureti, Bomet, Mulot and Keringet. It has
also been established that Imarisha Sacco use transformational leadership style,
transactional leadership style, visionary leadership style and charismatic leadership style.
This Sacco led in its performance due to its management and commitment. This
statement will be empirically signified by the study.
1.2 Statement of the Problem
Leadership in organisations is faced with many challenges which include limited

knowledge on leadership styles and the alignment of these to performance. A review of
leadership literature revealed a research gap that brought about the following research
question: “What is the effect of leadership styles on performance of Savings and Credit
Cooperative Society”? Michael (2011) recognised that leadership has a direct cause and
effect relationship on performance. With adequate knowledge on effective leadership
styles the management staff of Sacco’s in Kenya are able to achieve high performance.
In Kenya the use of leadership styles is a major challenge in the management of Savings
and Credit Cooperative Societies thus affecting performance. Purcell et al (2004) states
that intangible assets such as leadership styles and motivation are seen as key sources of
success in organisational performance. This study was aimed at assessing effect of
leadership on performance of savings and credit cooperative society: a case of Imarisha
savings and credit cooperative society in Kericho County, Kenya.
Fenwick and Gayle (2008), in their study of the missing links in understanding the
relationship between leadership and organizational performance they conclude that
despite an expected leadership-performance relationship suggested by some
researchers, current findings are inconclusive and difficult to interpret. In Kenya the
same applies as studies should relate directly the effect of specific leadership styles on
performance thus Effect of Leadership on Performance: a case of Imarisha Savings and
Credit Cooperative Society Limited Kericho County, Kenya was timely in understanding
the effect of transformational, transactional, visionary and charismatic leadership styles
on performance. This in effect will improve the people’s living standards and thus
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eradicate poverty because the Sacco’s are very instrumental in providing financial
services to a large population in the country.
1.3 Objectives of the Study
The study will be guided by the following objectives
To establish the effect of transformational leadership style on performance
To assess the effect of transactional leadership style on performance
To determine the effect of visionary leadership style on performance
To find out the effect of charismatic leadership style on performance
1.4 Hypotheses of the Study
Ho1.There is no significant relationship between transformational leadership

styles and performance
Ho2.There is no significant relationship between transactional leadership styles
and performance
Ho3.There is no significant relationship between visionary leadership styles and
performance
Ho4.There is no significant relationship between charismatic leadership styles and
performance
1.5 Significance of the Study
Indeed this study will be valuable and timely in the fight against poverty in Kenya. The
study will provide knowledge on the effect of leadership on performance of Sacco’s and
provide a solution to mismanagement and its effects on performance. The research
findings may be utilized by World Council of Credit Unions (WOCCU), KUSCCO,
SACCO Society Regulation Authority-Kenya (SASRA), Ministry of co-operative
development, Non-Governmental organizations, policy makers, researchers, and
managers of financial institutions.
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The management may identify how various styles of leadership practices affect the
operations of SACCO Societies in Kenya. It may assist researchers to understand what
has been studied in the specific field of study, makes one to know what has been made
and what challenges remain, and gives suggestions on the variables and procedures that
could be used.
The policy makers may obtain knowledge of the cooperative movements dynamics and
the responses that are appropriate; they may therefore obtain guidance from this
study in designing appropriate practices that would regulate the shareholders
participation in affecting the performance of the SACCOS in Kenya. The society and
country at large may benefit by poverty eradication through leadership of financial
institutions in Kenya.
1.6 Scope of the Study
This study focused on the effect of leadership on performance of Imarisha Sacco

Society Limited Kericho County, Kenya. The effect of leadership on performance in
Imarisha Sacco Society Limited was used as a mirror of the situation in Sacco’s in the
country. The study was confined to Imarisha Sacco Society Limited which is in Kericho
County, Kenya. The study specifically targeted the top management and the support staff
of the Sacco because of their direct involvement in leadership and performance. The
study only addressed the use of transformational leadership styles, transactional
leadership styles, visionary leadership styles and charismatic leadership styles.
1.7 Assumptions of the Study.
The study was based on the following assumptions:
That the respondents were honest and gave information on the effect of leadership on
performance.
That the administration, leaders and staff cooperated with the researcher.
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1.8 Limitations of the Study
The study is expected to encounter a number of limitations
The respondents expressed views that were acceptable and thus did not hide the real
ideas. The researcher overcame this limitation by assuring the respondents of
confidentiality.
Although the study was confined to Imarisha Sacco Society Limited, the findings were
applicable to all SACCOS in Kenya.
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CHAPTER TWO: LITERATURE REVIEW
LITERATURE REVIEW
2.1 Theoretical Review
Theories that were used to explain the variables in this study were; transformational
leadership theories, transactional leadership theories, visionary leadership theories and
charismatic leadership theories.
2.1.1 Transformational Leadership Theories
According to (Northouse 2007), this theory is also known as the relationship theories; it
concentrated on the connection developed between leaders and their subordinates. These
leaders inspire their employees by motivating them to know the importance of the task at
hand. These leaders possess high moral standards and want their subordinates to reach
the peak of their potential. (Cherry 2012).
Burns (1978) says that transformational leadership is a process in which managers and
subordinates assist each other to work towards better level of performance. Burns
explains that the transformational approach creates significant change in the life of people
and organizations. Leaders’ especially transformational leaders motivate and inspire
employees to see the importance of the tasks they do. Employees worked to accomplish
these tasks and this led to organizational performance. Northouse (2007), points out that
transformational leadership needs to have the leader motivate the follower to achieve
more than was expected of him.
Densten (2003) explains that transformational leadership occurs when leaders influence
their employees by appealing to higher ideals and values. Bernard M. Bass (1985)
explains how transformational leadership could be measured, as well as how it affects
follower motivation and performance. The extent to which a leader is transformational is
measured in terms of his influence on the followers. The followers of such a leader feel
trust, admiration, loyalty and respect for the leader and are ready to put more effort than
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before. Transformational leaders offer subordinates something more than working for
personal benefits; they provide subordinates with the reason for the organizations
existence and the future aim of the organization and recognize the subordinates.
2.1.2 Transactional Leadership Theories
According to Cherry (2012), this theory can also be referred to as management theories;
it concentrates on organization, group performance and supervision. The system of
rewards and punishment is highly promoted by this theory. Most organization and
businesses practice transactional theories, when employees succeed, they are rewarded,
when they fail, punishment are meted out. Stone & Patterson, (2005) assert that
transactional leadership is one of the most established methods of leadership. According
to Bass, (1985) transactional leadership is recognised as a traditional way leading. Three
key dimensions of transactional leadership are; contingent rewards, management by
exception-active and management by exception-passive. Contingent reward is the
degree to which the leader sets up constructive exchanges with employees.
Transactional leadership specifies expectations and establishes rewards for them.
Management by exception-active refers to managers who monitor employees’
behaviour, anticipate problems and take corrective actions before the behaviour creates
serious difficulties.
Zhu, Chew and Spengler (2005), explains that transactional leadership guide
organizations achieve their objectives by empowering employees with skills to get the
job done and by rewarding exemplary performance. Burns 1978 explains that
transactional leadership is based on chain of command within the organisation they
emphasise task oriented goals and specific job descriptions. They are also keen on task
completion and depend on rewarding employees to push performance a notch higher.
Leaders’ especially transactional leaders reward their employees when they performed
well and this leads to organizational performance.
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2.1.3 Visionary Leadership Theories
According to Jaques (1989), vision guides organisations in the right direction, providing
a goal that aligns the behaviour and contributions of people across all levels and
functions. Effective vision is specific, detailing possible threats and counteractions and
calls for action from all employees. Rowe & Nejad, (2009) asserts that visionary leaders
are future oriented, proactive and take risks. These leaders base their decisions and
actions on their beliefs and values which they share with others in the organisation.
Conger (1991) explains that visionary leadership requires power to influence people.
There is a risk of putting immense power in the hand of a few individuals. These
include, risk of uncontrollable self control in the pursuit of power, the risk that these
leaders may not see the need of managerial leaders in the organisation and that they may
relate immediate results with being powerful. Rowe, (2001) points out that visionary
leaders have attitudes towards goals that are proactive, shaping ideas instead of reacting
to them.
According to Kotter, (2001) visionary leaders focus on knowledge and develop

strategies that facilitate the enactment of a vision. They make use of nonlinear thinking
and believe in strategic choice, this choice affect their organisations and their
environment. Serfontein (2009) explains that visionary leadership deals with
understanding the organisation’s competitive environment, and positioning it in the
present so that it is appropriately placed for the future. It requires the skill of
moulding and crafting the strategic leadership to ensure that it remains relevant to the
ever-changing environment. Visionary leaders have vision for the organizations future
and this leads to achievement of performance in the organisation.
2.2 Empirical Review
Previous empirical studies provided knowledge on the relationship between leadership

and performance. In Pakistan Ullah (2013) studied Impact of Leadership on
Organisational Performance in D&R Cambric Communication. The results showed that
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there is a strong impact of leadership behaviours on organizational
performance. The behaviour of the CEO of the D&R Cambric Communication with the
employees of the company was one of the major reasons for the company’s success.
Further results indicated that leadership behaviours are very important key factors for
the growth of the companies in the service sectors. This study dealt with a
communications organisation and leadership behaviours of the CEO. Another study
was done in China by Xiaoxia and Jing (2006), on transformational leadership versus
transactional leadership: The influence of Gender and Culture on Leadership Styles of
SMEs in China and Sweden. They found out that both Chinese managers and Swedish
managers of SMEs tend to be more transformational than transactional. This study dealt
with transformational and transactional leadership and the influence of gender and
Culture on Leadership Styles. In these studies, behaviour of the CEO employees of a
company in Pakistan and gender and culture on leadership of Chinese and Swedish
managers of SMEs are dealt with respectively, whereas the study dealt with effect of
Leadership on performance of savings and credit cooperative societies in Kenya.
Among the various theories of leadership and motivation relating to effective

organizational change management, the most common was the transformational-
transactional theory of leadership. As explained in Saowalux and Peng (2007) of
China, Burns (1978) pinpointed out two factors to differentiate “ordinary” from
“extraordinary” leadership: transactional and transformational leadership. Transactional
leadership was based on an exchange relationship in which followers’ compliance is
exchanged for expected rewards. Whereas transformational leaders raise followers’
knowledge on the importance of designated outcomes and ways of achieving them. They
motivated followers to forego self-interest for the sake of the mission and vision of the
organization. There was a similarity with my study in the use of transactional and
transformational leadership but a difference in the study population and location of
study.
Some studies explored the role of leadership to investigate how to use leadership
paradigms and behaviour to improve organizational performance (Judge, Bono, Ilies,
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and Gerhardt, 2002; Judge and Piccolo, 2004; Keller, 2006; McGrath and MacMillan,
2000; Meyer and Heppard, 2000; Purcell, Kinnie, Hutchinson and Dickson, 2004; Yukl,
2002).These studies dealt with leadership paradigms and behaviour to improve
organizational performance while my study dealt with effect of leadership on
performance. Purcell et al, (2004), asserted that intangible assets such as leadership
styles and motivation were seen as key sources of success in those firms that can
combine people and processes and organizational performance. The study thus sought to
relate performance to tangible effect of leadership.
Jens and Kathrin (2007) from Europe studied the relationship between transactional,
transformational and charismatic leadership and their impact on performance. Two
hundred and twenty employees were asked to rate their manager. Hierarchical multiple
regression methods were used to analyse the data. The study found that transformational
and charismatic leadership are correlated with organisational effectiveness.
Transformational leadership had a stronger correlation with organisational effectiveness
than transactional leadership. They also found that transformational leadership improved
the effect of both transactional and charismatic leadership on organisational
effectiveness. The study on the contrary had a sample size of 63, descriptive statistics
were used to analyse the data and was done in Kenya.
Lorraine (2012), studied the relationship between strategic leadership and strategic
alignment in high-performing companies in South Africa. The study proposes that
strategic leadership positively influenced strategic alignment which had a positive effect
on organisational performance. Serfontein (2009), studied the impact of strategic
leadership on the operational strategy and performance of business organisations in
South Africa. Jooste and Fourie (2009) studied the role of strategic leadership in
effective strategy implementation. Both these studies concluded that strategic leadership
had an effect on organisational performance. The major limitation of the studies by
serfontein (2009) and jooste and fourie (2009) was that they relied on responses from
only the CEO, in the former, and the board directors, in the latter. These were limited
studies s i n c e t h e y r e l i e d o n responses from only one person in the organisation in
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the first study and a sample of five board members o f t h e organisations in the
second study. There was no investigation in the organisation to verify the responses of
the leadership at other levels in the organisation and to test the effectiveness of
leadership in the organisation. The study on the contrary sought to verify responses
from all levels in relation to effect of leadership on performance.
The effect of transformational leadership on organisational effectiveness was also

studied by Colbert et al. (2008). Top management teams used in the sample were 94.
They found that transformational leadership was positively related to organisational
effectiveness. Similarly, Howell et al. (2005) from U.S.A. studied the relationship
between leadership and organisational effectiveness. The location of these studies was
U.S.A. In addition, several studies attempted to study the relationship between gender
and leadership styles. They found that gender was significantly correlated with
leadership styles. Female managers were likely to adopt more Transformational
Leadership Styles (Bass et al., 1996). In contrast, Oshagbemi (2008) from Nigeria found
that gender was not significantly correlated with the leadership styles of the managers;
he found that age was directly related to leadership styles of the managers. The location
of this study was Nigeria whereas the study was done in Kenya.
Locally, several studies have been done on the effect of corporate governance on
financial performance. Muriithi, (2004) studied the relationship between corporate
governance mechanisms and performance of firms quoted on the NSE( Nairobi Stock
Exchange) and found that the size and composition of the board of directors have the
greatest impact on the performance. Ngugi (2007) did a study on the relationship
between corporate governance structures and the performance of insurance companies
in Kenya. He found that inside directors are more familiar with the firm's activities and
they can act as monitors to top management. The study also found that an optimal board
composition lead to better performance of the companies. Contrary to the above studies
the study concentrated on savings and credit cooperative societies. In Australia, Fenwick
and Gayle (2008), in their study of the missing links in understanding the relationship
between leadership and organizational performance conclude that despite a
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hypothesised leadership-performance relationship suggested by some researchers,
current findings are difficult to interpret. The study thus contributes knowledge on effect
of leadership on performance.
2.3 Leadership Styles
Leadership is important for any organisation and its importance cannot be

underestimated. Many authors have studied this phenomenon but there is no real
definition of what leadership is, no dominant paradigm for studying it, and little
agreement regarding the best strategies for developing and exercising it. (Bennis, 2007,
Hackman and Wageman, 2007; Vroom and Jago, 2007).
The leadership styles used in the study were; transformational leadership style,
transactional leadership style, visionary leadership style and charismatic leadership style.
2.3.1 Transformational Leadership Style
The research done by Ismail et al (2009) was reviewed and it indicated that
transformational leadership style takes into consideration the followers value systems and
needs for development of their skills. Literature review on a research done by Leonard
(2003) indicated that transformational leadership model proposed by Burns seemed
practical for the latest organisational models. Studies done by Bennis & Nanus (1985)
and Kouzes & Postner (1997) proposed leadership models that echoed Burns’s (1978)
transformational leadership theme, the major aspect was the leaders ability to create a
vision that encourages people to achieve more than they expected.
The researcher reviewed the work of Bass & Riggo, (2006) and found out that
transformational leadership involves encouraging followers to commit to a shared vision
and goals for an organization, challenging them to be innovative problem solvers, and
developing followers’ leadership capacity. Bass (1985) in his written work identified four
components of transformational leadership. One is idealized influence which is how the
leader acts in admirable ways, has clear values and is a role model who followers
identify with. The second is intellectual stimulation which is how the leader encourages
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creativity in the followers and binds them with commitment to the leader, the
organisation, each other, and the goal. The third is inspirational motivation which is how
the leader expresses a vision that is appealing and justifies current tasks for future goals.
The fourth one concerns personal individual attention which is how the leader attends
everyone’s contribution to the team. This builds individual team members self-fulfilment
and self-worth that facilitates followers’ achievement and growth. Yukl, (2006) in his
written work found out that transformational leaders can arouse strong follower emotions
and identification with the leader. Further findings showed leaders take a real interest in the
well-being of their employees. Literature authored by Jin (2010) pointed out that
transformational leadership integrates the elements of sensitivity, empathy, relationship
building, compassion and innovation.
Review on the leadership styles led to the identification of idealized influence,

inspirational motivation, intellectual stimulation and personal individual attention. The
research gap between the research done by Bass (1985) and the study is that Bass
identified the components but the study puts into perspective these components to
leadership on performance of Imarisha Sacco.
2.3.3 Transactional Leadership Style
In the review on the study done by Bennet, (2009) in his study found that transactional
leaders are autocratic because they are bureaucratic, powerful and authoritative policy
makers. The works of Kuhert (1994) found that managers who use this leadership style
do not support employee skill development; instead they use rewards and initiate
structures for role and task clarification. The work of Daft (2000) was reviewed and
showed that transactional leadership leads to an increase in organisational effectiveness
because leaders are concerned with the efficiency of the tasks that lead to performance
such as plans, schedules and budgets.
Transactional leadership is a leadership in which employees who perform well, or exceed

expectations are rewarded but those who do not perform well are punished. In this type of
arrangement, leaders motivate employees with bonuses, raises and promotions to elicit
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harder work. Transactional leadership is often seen in retail, where store managers often
motivate salesmen with various prize offers for meeting sales goals. Many employees
appreciate reward systems, so transactional leadership has proven to be an effective
management strategy. http://smallbusiness.chron.com
Work written by Bass, (1985) was reviewed and it indicated that transactional leadership
is highly recognised as the traditional management function of leading .Further
review showed that contingent rewards, management by exception-active and
management by exception-passive are key dimensions making up transactional
leadership. Contingent rewards refer to the degree to which the leader sets up
constructive transactions or exchanges with subordinates. Transactional leadership
clarifies expectations and establishes the rewards for meeting these expectations. On the
other hand, management by exception-active refers to managers who monitor
subordinates’ behaviour, anticipate problems and take corrective actions before the
behaviour creates serious difficulties. In contrast research done by Judge and Piccolo,
(2004) indicated that management by exception-passive means that the managers
will take action when the behaviours of their subordinates have already produced
problems.
From the above leadership style the study included use of contingent rewards, and
management by exception passive and management by exception active.
2.3.3 Visionary Leadership Style
In the review on the research done by Conger (1991) the researcher found that vision is
an important aspect of every leader although most leaders do not put it into practice and
thus leads to organisations failure to succeed. He explains that v ision is simply a
realistic goal for the future and leaders are preoccupied by the present problems that no
attention is given to the future. None the less all leaders should consider vision in their
leadership as success is dependent on it. Review on the research done Charlton (1992)
led to description of two roles of leadership. It should facilitate the individuals’
creativity and purpose and align this to organisational goals. This makes both the leader
and the employees to plan on their time and activities.
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The work of Hitt and Ireland (2001) was reviewed and it indicated that leaders draw
lessons from the past, the present and the future. In addition, the leader must be guided
by the people and the customers to get important information to use in leadership that is
the foundation for the future. Further review showed that the leader selects information
and uses appropriate skills to formulate vision that considers desires of all stakeholders.
In the review of research done by Peter Senge (1997) the researcher found that visionary
leadership is characterised by a state of natural tension which he explains to be the gap
between the future plans (vision) and the current reality. Both future and current states
are essential in creating this tension, which can be resolved in two basic ways, by raising
the current reality towards the vision or by lowering the vision toward current reality. In
the study by Kotter (2001) the researcher found that visionary leaders use very dynamic
thinking to make strategic decisions that determine what is done in the organisation in
line with the organisations vision. Rowe & Nejad (2009) research was reviewed and it
indicated that visionary leaders are proactive, risk taking and future oriented. These
leaders base their decisions and actions on their beliefs and values, and share their
understanding of their vision with others in the organisation. Visionary leadership styles
used in the study adapted the following characteristics future-oriented, risk taking and
proactive.
2.3.4 Charismatic Leadership Style.
Literature review on a study done by Howell & Avolio (1993) indicated that the
charismatic leader is able to express to the employees goals that can be readily
accepted. The leader must understand the needs of subordinates when setting the goals
and express confidence on the subordinates’ ability to achieve them. This increases the
chances of the followers owning the goals and working hard on their achievement. In
the review of research done by Ogbanna (2000), the literature indicated that
charismatic leadership is a style that has a vision and encourage followers. Review of
literature of research done by House (1997) showed that charismatic leadership style
makes followers relate their performance to the behaviours of the leader. The study of
charismatic leadership by Yukl, (1999) borrowed from the work of Max Weber (1947)
who described how employees’ qualities were directly a result of the leaders influence.
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A review of work written by Conger (1999) showed a widely accepted framework of
charismatic leadership with the following components; articulates a strategic vision,
takes risks, and is sensitive to their environment. These attributes were tested in the
study.
2.3.5 Performance
In the review of work written by Armstrong (2006), the researcher found that
performance is simply the achievement of quantified objectives that is both what and
how these objectives are achieved. The study of Nel & Beudeker (2009) was reviewed
and the researcher found that new economy leadership in organisations lead to
sustainable competitive edge and performance.
The work of Johnson & Scholes (2007) was reviewed and it indicated that many
managers have a difficulty identifying a useful set of performance indicators for their
organizations. One reason for this is that many indicators give a partial view. Some
indicators are qualitative and others are quantitative. Aspects of quantitative and
qualitative assessment of performance are quite often skewed towards certain specific
indicators. Quantitative end of assessing performance has been dominated by financial
analysis. Literature review on a study done by Mwaura (2005) showed that lack of credit
analysis, credit follow-ups as well as hostile lending are the key factors that contribute to
poor performance in loan lending by SACCO societies in Kenya.
A review of work written by (Yuki 2006) indicated that performance measurement

systems evaluate performance within a process of how targets are met and quantitatively
assessed for efficiency and effectiveness. Research found that effectiveness of the
organization depends on the three basics performance determinants; efficiency and
process reliability; human resource and relations; innovation and adaptation to
environment.
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Efficiency
Human resource and relations Organisational performance
Innovation and adaptation
Figure: 2.3.1 Organisational performances
Efficiency is the use people and resources to carry out important operations in way which
minimizes the costs. When resources are used in a proper way the cost of operation will
decrease and the profit will increase. Efficiency is important when the competitive
strategy of the organisation offers products and services at lower rates than the
competitors. (Bass 1990 Yuki and Tabler 2002). Innovative adaption includes increase in
market share, sales growth from year to year generating and maintaining customers.
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2.4 Theoretical Framework
LoBiondo-Wood & Haber (1998), state that a theoretical framework is a frame of

reference that is a basis for observations, definitions of concepts, research designs,
interpretations, and generalizations. Theoretical Framework is a group of related ideas
that provides guidance to a research project or business endeavour.
http://www.businessdictionary.com.
TRANSFORMATIONAL
LEADERSHIP STYLE
 Idealized influence
 Inspirational
motivation
 Intellectual
stimulation
 Individual
consideration
CHARISMATIC
TRANSACTIONAL LEADERSHIP STYLE
LEADERHIP STYLE
 Sensitive to
 Contingent reward followers needs
PERFORMANCE
 Management by  Articulate a strategic
exception active Vision
 Management by  Takes risks
exception passive  Sensitive to their
environment
VISIONARY
LEADERSHIP STYLE
 Future oriented
 Proactive
 Risk taking
Figure: 2.4.1 Theoretical framework of the study

Source: Adopted from Bass & Avollio 1990
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Bass (1985) identified the four components of transformational leadership. They are;
idealized influence which is the extent to which the leader behaves in admirable ways,
inspirational motivation which is the degree to which the leader expresses a vision that
appeals to and inspires the followers on future goals, and justifies the current task in
hand; intellectual stimulation, the degree to which the leader stimulates and encourages
creativity in the followers so that they can connect to the leader, the organisation, each
other, and the goal and they can creatively overcome any obstacles; personal individual
attention which is the degree to which the leader attends to each individual’s contribution
to the team.
2.5 Conceptual Framework
According to Miles and Huberman (1994), a conceptual framework is a visual and

written work that graphically or narrates the main things to be studied including the key
concepts, variables and relationships among them. Dependent Variable is a variable
(often denoted by y) whose value depends on that of another whereas independent
variable is a variable (often denoted by x) whose variation does not depend on that of
another.
Independent variables Dependent variables
Transformational leadership style

Performance
Transactional leadership style
 Profitability
 Employee
Visionary leadership style motivation
 Growth
Charismatic leadership style
Moderating variables
Age
 Gender
 Education
Figure: 2.5.1 Conceptual framework of the study

Source: Researcher 2015
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Transformational leadership style used idealized influence, inspirational motivation,
intellectual stimulation and individual consideration to lead to performance. In
transactional leadership style the use of contingent rewards, management by exception
passive and management by exception active leads to performance. Visionary leadership
style use future oriented, proactive and risk taking while charismatic leadership style used
sensitive to followers needs, articulate a strategic vision, takes risks, and sensitive to their
environment to achieve performance.
The independent variables of the study had a direct influence on the performance as
shown by the arrow. The use of transactional, transformational, visionary and charismatic
leadership styles led to performance. The interaction between the independent and
dependent variables was affected by a number of variables that either facilitated or
reduced the expected relationship. These other variables included age, gender and
education and training.
21
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research Design
According to Malhotra (2004), a research design is a detailed blueprint to guide a

research project towards its objectives. Kothari (2005) acknowledges that a descriptive
design is a form of qualitative analysis that involves a careful and complete observation
of a social unit. It is a method that drills down, rather than cast wide. According to
Orodho (2003) descriptive research is used when the problem is well defined. The
purpose of descriptive research is to observe, describe and document aspects of a
situation as it occurs naturally.
The study used the descriptive research design in which opinions of managers and staffs
were collected. The design was appropriate because of its efficient method of collecting
descriptive data regarding characteristic of a sample of a population, current practices,
conditions or needs. The design was also used because it allowed the researcher to gather
information regarding the respondent’s opinions and perceptions.
3.2 Target Population
Mugenda and Mugenda (2003), explains that a target population is the population to
which the researcher wants to generalise the results to the absolute population. The target
population is the total group of individuals from which the sample might be drawn.
According to Obwatho (2014) target population is the whole group a researcher is
concerned about. It is the population to which the researcher uses to generalize the study
results. The target population of the study comprised of the management staff and
support staff of Imarisha Sacco. This population was selected as the target population
because of their direct involvement in leadership and hence reliable information was
obtained for the study. There were 69 employees in the two levels of management as
shown in table 3.2.1
22
Table: 3.2.1 Target population and sample size
Level Target Population Sample size

Management staff 29 27
Support staff 40 36
Total 69 63
Source: Imarisha SACCO employee record of 2015
The study was undertaken at Imarisha Sacco Society Kericho County, Kenya. The
accessible population was 29 management staff and 40 support staff. (Imarisha SACCO
employee record of 2015)
3.3 Sampling Design
According to Lucey (2000) sampling design is the selection of individual observations

intended to yield some knowledge about population of concern for statistical inference.
Mugenda and Mugenda (2003) assert that sampling is the process of selecting for study a
number of individuals whose characteristics represent those of a large group from which
they were selected. The sample was selected by simple random sampling among the staff
of Imarisha Sacco Society Limited, Kericho County, Kenya.
Random Sampling is a method of selecting a sample from a population in a way that

every sample has a predetermined probability of being selected.
http//dictionary.reference.com
The sample size, n, for target residents with a known population, N, is calculated using
Israel (1992) formula as shown below
N
n
1  N (e) 2
Where e is the desired precision (e.g., 0.05 for 95% confidence level). For example, total
management staff in Imarisha SACCO is 29, implying n is as derived below
23
29
n = 27
1  29(0.05)2
The study was conducted amongst a sample of 27 top management and 36 support staff
in Imarisha SACCO Society Limited
40
n
1  40(0.05)2 = 36
3.4 Data Collection
The researcher first sought permission for conducting the research from Imarisha Sacco.
The study used questionnaires. A questionnaire is a list of a research questions asked to
respondents and designed to extract specific information. Creswell (2009) explains out
that questionnaires eliminate uncertainties and ambiguities that may arise from irrelevant
answers while increasing the validity and reliability of the results.
Two sets of questionnaires (SACCO management and SACCO staff) were used. The two
questionnaires consisted of mainly closed-ended items and a few open-ended items. Each
set of questionnaires had items seeking similar information from the respondents so as to
gauge their opinions and perceptions on the effect of leadership on the performance of
SACCOS. The questionnaires were self-administered. Prior to data collection, an
introductory letter was obtained from Kenyatta University to facilitate data collection
process as well as permit from the Imarisha Savings and Credit Society.
3.4.1 Validity
According to Mugenda & Mugenda (2003) validity of questionnaires refers to the extent
to which it measures what it claims to measure. Validity could be defined as the extent to
which differences in observed scale scores reflect true differences between objects on
the characteristics being measured, rather than systematic or random error (Neuman,
24
2003). Validity is the extent to which a set of measured items reflect the theoretical
construct that those items are expected to measure (Hair et al., 2006).
Karanja (2002) explains that for research instruments to be considered valid there should
be proof of content relevance and representativeness to variables under study. Content
validation of the questionnaires will be established by submitting them to the supervisor.
The clarity of language, suitability of items, the adequacy of purpose and the attainment
of objectivity were the main points considered in the validation. Suggestions were
considered in the final revision of the instruments.
3.4.2 Reliability
Reliability of an instrument is the degree of consistency with which it measures a variable

(Mugenda & Mugenda, 2003). According to Welman and Kruger (2002) and McDaniel
and Gates (2001), reliability refers to the consistency and stability of scores from a
measurement scale. The instrument will be taken for piloting on a population that is
similar to the target population; Ndege Chai Savings and Cooperative Society, Kericho
County, was used for piloting. The piloting included 1% of sample size (Orodho, 2009).
The objective of piloting was to eliminate ambiguous items and allow preliminary data
analysis to test whether methods were appropriate. To ensure consistency, the pre-test
data was subjected to reliability tests using the Spit- half method to determine the internal
consistency of each instrument. Each instrument was conceptualized as having two parts;
odd numbered items and even numbered items. The Split-half procedure involved scoring
odd items versus even items of the instrument for each person and then calculating a
correlation coefficient for the two sets of scores. The correlation coefficient indicated the
degree to which the two halves of the instrument provided the same results and hence
described the internal consistency of the instrument. The instruments were adopted as the
reliability of each instrument was at least 0.7 as recommended by Nunnaly (1978).
Reliability generated from Statistical package for social sciences version 20 alfa index
was 0.714 (Appendix c).
25
3.5 Data Analysis
According to Orodho (2009), data analysis is the process of systematically

searching and arranging completed research instruments after field work with the aim of
increasing understanding and presentation. Data analysis is the process of inspecting,
cleaning, transforming and modelling data with the goal of getting useful information
suggesting conclusions that support good decision making (Mugenda and Mugenda
2003). Data was analyzed using descriptive statistics with the aid of SPSS and the results
were presented using frequency distribution tables and charts.
3.6 Ethical Considerations
According to Neuman (2000), ethics in research involves what is right and not right
in conducting research and is an integral part of any research study. Ethics in research
was considered in the whole research process: from the nature of the problem being
investigated; the reporting of the theoretical framework; the context of the research; the
data collection instruments used; the data collection methods used; the research subjects;
the procedures of data analysis; and data reporting.
The researcher assured Imarisha Sacco management that the information collected was to
be treated with confidentiality More so, the researcher got permission from the
management of Imarisha Sacco to undertake the study in their organisation.
26
CHAPTERRFOUR: DATA
DATA RESULTS AND DISCUSSION
4.1 Demographic Characteristics of Respondents
This section focused on the demographic characteristics of respondents in the study area.
Such background information was essential in understanding the respondents of the study
and also aids in analyzing the study findings. Analysis of the respondents was done on
the basis of their age, gender, level of education, number of years worked, and level of
training in management.
Table: 4.1.1 Descriptive Statistics of Mean, Median and Mode derived from
Statistical Package for Social Sciences
how old are gender what is the how many if yes what is
you highest level years have your level of
of education you worked training
that you in the Sacco management
completed
Valid 63 63 63 63 63
N
Missing 0 0 0 0 0
Mean 2.30 1.43 2.83 3.51 2.79
Median 2.00 1.00 3.00 3.00 3.00
Mode 2 1 3 3 3
Std. Deviation .961 .499 1.009 1.176 1.019
Variance .924 .249 1.017 1.383 1.037
Source: Research data (2015)
27
Table: 4.1.2 Age of Employees
Age Frequency Percent%

18 to 24 years 15 23.8
25 to 34 years 21 33.3
35 to 44 years 20 31.7
45 years and above 7 11.1
Total 63 100
Table 4.1.2 shows that 15(23.8%) employees were between the ages of 18 to 24 years,
21(33.33%) were between 25 to 34 years, 20(31.7%) were between 35 to 44 years and
7(11.1) were 45 years and above. Age was used in the study to assess the number of
employees who were young and energetic compared to those who were over 45 years old.
The computed mode (descriptive statistic) is 2.00 (table 4.1.1) which is equivalent to the
highest frequency of 21 (table 4.1.2). Therefore most of the employees were between the
ages of 25 to 34 years.
Table: 4.1.3 Gender of Employees
Gender Frequency Percent%

Male 36 57.1
Female 27 42.9
Total 63 100
Table: 4.1.3 Indicates that 36(57.1%) were male and 27(42.9%) respondents who were
female. Gender was used in the study to establish gender balance within the organisation.
The computed mode (descriptive statistic) is 1(table 4.1.1) is equivalent to the highest
frequency of 36(table 4.1.3). Therefore most employees were male.
28
Table: 4.1.4 Level of Education of Employees
Education Frequency Percent%

Secondary education 7 11.1
Middle level college 14 22.2
University (Bachelors) 28 44.4
University (Masters) 11 17.5
University (PHD) 3 4.8
Total 63 100
Table 4.1.4 shows that those employees with secondary education were 7(11.1%), middle
level college level of education were 14(22.2%), university with bachelors were
28(44.4%), masters were 11(17.5%) and with PhD were 3(4.8%). The reason for asking a
question related to the level of education is because there is a direct influence of high
level of education on better leadership and thus performance. The computed mode
(descriptive statistic) is 3(table 4.1.1) which is equivalent to the highest frequency of
28(table 4.1.4). Therefore most employees had bachelor’s degrees.
Table: 4.1.5 Number of Years Employees have Worked in the SACCO
Years Frequency Percent%

0-1 years 2 3.2
1-2 years 11 17.5
2-5 years 21 33.3
5-10 years 11 17.5
Over 10 years 18 28.6
Total 63 100
29
Table 4.1.5 shows the number of years employees have worked in Savings and Credit
Cooperative Society. The responses were as follows: 0-1 years were 2(3.2 %), 1-2 years
were 11(17.5%), 2-5 years were 21(33.3%), 5-10 years were 11(17.5%) and over 10
years were 18(28.6%). The intention of obtaining data on experience was that the years
worked in an institution the more the experience, this leads to efficiency in service
delivery and thus a positive reflection on performance. The computed mode (descriptive
statistic) is 3(table 4.1.1) which is equivalent to the highest frequency 21(table4.1.5).
Therefore more employees were between the ages of 2-5 years.
Table: 4.1.6 Level of Training in Management
Training Frequency Percent%

Certificate 9 14.3
Diploma 11 17.5
Bachelor’s degree 29 46.0
Master’s degree 12 19.0
PhD 2 3.2
Total 63 100
Table 4.1.6 shows that most staff that had bachelors degree certificates were 29(46.0%)
followed by the ones with masters 12(19.0%) those with diploma were 11(17.5%),
certificates holders were 9(14.3%) and 2(3.2%) had PhD. The intention of obtaining data
on level of education is because it is related to better leadership and hence performance.
The computed mode (descriptive statistic) is 3(table 4.1.1) which is equivalent to the
highest frequency of 29(table 4.1.6). Therefore employees with bachelors’ degree were
many compared to the others.
4.2 Transformational Leadership Styles
Results of transformational leadership styles in terms of; management staff having

charisma and leading and behaving in an admirable way, management motivating the
staff by articulating vision that appeals to and inspire the staff, management staff
30
stimulating and encouraging creativity in our staff and management staff giving personal
individual attention to staff.
management staff management management management

have charisma motivate the staff staff staff gives
and led by by articulating stimulates and personal
behaving in an vision that encourage individual
admirable way appeals to and creativity in attention to our
inspire the staff our staff staff
Valid 63 63 63 63
N
Missing 0 0 0 0
Mean 1.71 1.92 1.87 2.13
Median 2.00 2.00 2.00 2.00
Mode 2 2 2 2
Std. Deviation .521 .414 .381 .707
Variance .272 .171 .145 .500
31
Table: 4.2.2 Management Staff have Charisma and Lead by Behaving in an
Admirable Way
Rating Frequency Percent%

Strongly agree 20 31.7
Agree 41 65.1
uncertain 2 3.2
Disagree 0 0
Strongly disagree 0 0
Total 63 100
Table 4.2.2 shows that 20(31.7%) respondents strongly agreed, 41(65.1%) agreed,
2(3.2%) uncertain, 0(0%) disagreed and 0(0%) strongly disagreed. Data on charisma and
leading by behaving in admirable way was obtained because it has a direct influence on
better leadership and hence performance. The computed median (descriptive statistic) is
2.00(table 4.2.1) which is equivalent to the highest frequency of 41(table 4.2.2)
.Therefore the number of respondents’ whose percentage value is 65.1 agreed. This
means that most management staffs have charisma and lead by behaving in an admirable
way.
32
Table: 4.2.3 Management Motivate the Staff by Articulating Vision that Appeals to
and Inspire the Staff

Agree 52 82.5
Uncertain 3 4.8
Disagree 0 0
Total 63 100
Table 4.2.3 shows that 8(12.7%) respondents strongly agreed 52(82.5%) agreed, 3(4.8%),
0(0%) disagreed and 0(0%) strongly disagreed. The reason for asking the question related
to management articulating vision that appeals to and inspires the staff is because vision
is very important in leadership of any organisation which directly affect performance.
The computed mode (descriptive statistic) is 2 (table 4.2.1) is equivalent to the highest
frequency of 52 (table 4.2.3) .Therefore the number of employees with highest
percentage (82.5) agreed. This means that most employees agreed management motivate
the staff by articulating vision that appeals to and inspire the staff.
33
Table: 4.2.4 Management Staff Stimulates and Encourage Creativity in our Staff

Agree 53 84.1
Uncertain 1 1.6
Disagree 0 0
Total 63 100
Table 4.2.4 indicates that 9(14.3%) employees strongly agreed, 53(84.1%) agreed,
1(1.6%) uncertain, 0(0%) disagreed and 0(0%) strongly disagreed. Data related
Management staff stimulating and encouraging creativity was sought in the study because
it directly contributes to performance. The computed median (descriptive statistic) is 2.00
(table 4.2.1 with a percentage of 84.1 which is above the median. This means that
management is striking a balance in stimulating and encouraging creativity amongst the
staff .
Table: 4.2.5 Management Staff gives Personal Individual Attention to our Staff
Level of agreement Frequency Percent%

Agree 43 68.3
uncertain 8 12.7
Disagree 4 6.3
Total 63 100
34
Table 4.2.5 indicates that 9(12.7%) employees strongly agreed, 43(68.3%) agreed,
8(12.7%) uncertain, 4 (6.3%) disagreed and 0(0%) strongly disagreed. Data related to
management staff giving personal attention was obtained because of its direct
contribution to performance. The computed mode (descriptive statistic) is 2(table 4.2.1) is
equivalent to the highest frequency of 43(table 4.2.5). This means that most employees
agree that management staff gives personal individual attention to our staff.
4.3 Transactional Leadership Styles
Results of transactional leadership styles in term of; members of staff being rewarded
when they perform well, management staff assisting members when they have personal
problems before it affects the organization, management staff assisting members when
they have personal problems after it affects the organization.
our members of staff management staff assist management staff

are rewarded when they members when they have assist members when
perform well personal problems before they have personal
it affects the organization problems after it
affects the
organization
N Valid 63 63 63
Mean 2.17 1.94 3.56
Median 2.00 2.00 4.00
Mode 1 2 4
Std.
1.115 .780 1.305
Deviation
Variance 1.243 .609 1.703
35
Table: 4.3.2 Members of Staff are rewarded when they perform well

Agree 21 33.3
Uncertain 12 19.0
Disagree 7 11.1
Strongly disagree 2 3.2
Total 63 100
Table 4.3.2 indicates that 21 (33.3%) employees strongly agreed, 21(33.3%) agreed,
12(19.05%) uncertain, 7(11.11%) disagreed and 2(3.17%) strongly disagreed. The reason
for asking the question on staff being rewarded when they perform well is because it
motivates the staff and hence an effect on performance. The computed mean (descriptive
statistic) is 2.17(table 4.3.1) is equivalent to 50%; the percentage of those who strongly
agreed and agreed were 33.3% + 33.3%=66.6%. This value is above the mean of 2.17.
This shows that more employees agreed that the staff are rewarded when they perform
well.
36
Our Members of Staff are rewarded when they perform well
3.2
11.1
33.3 Strongly agree

Agree
19 Uncertain
Disagree
Strongly disagree
33.3
Source: Generated from table 4.3.2

Figure 4.3.1 Members of Staff are rewarded when they perform well
This shows that members of staff are well rewarded, this because who strongly agreed
and agreed were 42(66.66%).
Table: 4.3.3 Members of Staff are assisted when they have Personal Problems before
it affects the Organization

Agree 28 44.4
Uncertain 14 22.2
Disagree 1 1.6
Total 63 100
Table 4.3.3 demonstrates that 20(31.75%) strongly agreed, 28(44.44%) agreed,

14(22.22%) uncertain, 1(1.59%) disagreed and 0(0%) strongly disagreed. The intention
37
of asking a question on members of staff being assisted when they have personal
problems before it affects the organization was because this directly relates to
performance. The computed median (descriptive statistic) is 2.00(table 4.3.1) corresponds
to the frequency of 28(table 4.3.3). This means that the management strikes a balance in
assisting members of staff when they have personal problems before it affects the
organization.
Members of Staff are assisted when they have Personal
Problems before it affects the Organization
1.6 0
22.2
31.7 Strongly agree
Agree
Uncertain
Disagree
44.4
Figure: 4.3.2 Members of Staff are assisted when they have Personal Problems Before it
affects the Organization
This means that members of staff are assisted when they have personal problems before it
affects the organization, because those who strongly agreed and disagreed were
48(76.1%)
38
Table: 4.3.4 Members of Staff are assisted when they have Personal Problems after
it affects the Organization

Agree 17 27.0
Uncertain 4 6.3
Disagree 20 31.7
Total 63 100
Table 4.3.4 demonstrates that 3(4.76%) employees strongly agreed, 17(26.98%) agreed,
4(6.35%) uncertain, 20(31.75%) disagreed and 19(30.16%) strongly disagreed. Data was
obtained regarding members of staff being assisted when they have personal problems
because this affects the organization which in turn directly influences performance. The
computed mode (descriptive statistic) is 4(table 4.3.1) is equivalent to the highest
frequency of 20(table 4.3.4). This means that most employees disagreed that members of
staff are assisted when they have personal problems after it affects the organization.
39
Members of Staff are assisted when they have Personal
Problems after it affects the Organization
4.8
30.2
27 Strongly agree
Agree
Uncertain
Disagree
Strongly disagree
6.3
31.7
Figure: 4.3.3 Members of Staff are assisted when they have Personal Problems after it
affects the Organization
Members of staff are assisted when they have personal problems before it affects the
organization as 39(61.9%) disagreed to the question
40
4.4 Visionary Leadership Styles
Results of visionary leadership styles in terms of; management staff taking risks that may
influence performance of the organization, management staff acting early on problem that
may affect performance and management staff planning cautiously for the future of the
organization.
Table 4.4.1 Descriptive Statistics of Mean, Mode and Median derived from
Statistical Package of Social Sciences
management staff management staff management staff

take risk that may acts early on plans cautiously
influence problem that may for future of the
performance of the affect organization
organization performance
N 63 63 63
Mean 2.06 1.86 1.76
Median 2.00 2.00 2.00
Mode 2 2 2
Std. Deviation .801 .435 .530
Variance .641 .189 .281
Table: 4.4.2 Management Staff Plans Cautiously for Future of the Organization

Agree 42 66.7
Uncertain 3 4.8
Disagree 0 0
Total 63 100
41
Table 4.4.2 demonstrates that 18(28.6%) employees strongly agreed, 42(66.7%) agreed,
3(4.8%) uncertain, 0(0%) disagree and 0(0%) strongly disagree. The reason for asking
the question of staff planning cautiously for the future of the organization is because this
leads to better leadership and hence performance. The computed median (descriptive
statistic) 2.00 corresponds to frequency of 42(table 4.4.2). This means that management
is cautious in planning for the future of the organization.
Table: 4.4.3 Management Staff acting Early on Problems affecting Performance

Agree 50 79.4
Uncertain 2 3.2
Disagree 0 0
Total 63 100
Table 4.4.3 shows that 11(17 .5%) strongly agree, 50(79.4%) agree, 2(3 .2%) uncertain,
0(0%) disagree and 0(0%) strongly disagree. Management staff acting early on problems
affecting performance is used in the study because it is one of the indicators of good
leadership and hence performance. The computed mode (descriptive statistic) is 2 is
equivalent to the highest frequency of 50(table 4.4.3). This shows that most employees
agreed that management staff acts early on problem that may affect performance.
42
Table: 4.4.4 Management Staff takes Risk that may Influence Performance of the
Organization

Agree 35 55.6
Uncertain 10 15.9
Disagree 4 6.3
Total 63 100
Table 4.4.4 shows that 14(22 .2%) employees strongly agreed, 35(55.6%) agreed
10(15.9%). Uncertain, 4(6.3%) disagree and 0(0%) strongly disagree. The reason for
asking the question on management staff taking risk that may influence organisation
performance is because it has a direct impact on leadership and hence performance. The
computed mean (descriptive statistic) is 1.76 is equivalent to 50%; the percentage of
those who strongly agreed and agreed are 22.2%+55.6%=77.8%. This value is above the
mean of 1.76. More employees agreed that management staff takes risk that may
influence performance of the organization.
4.5 Charismatic Leadership Styles
Results of charismatic leadership style in terms of management staff being sensitive to

the environment that may affect the performance of the organization, management staff
taking risk that may influence performance of the organization, management staff is
sensitive to customer need that may affect performance and management staff
articulating a clear strategic vision of the organization.
43
management management
management
staff is sensitive staff is management staff
staff takes risk
to the sensitive to articulate a clear
that may
environment that customer strategic vision
influence
may affect the need that of the
performance of
performance of may affect organization
the organization
the organization performance
N 63 63 63 63
Mean 2.27 2.22 1.76 1.60
Median 2.00 2.00 2.00 2.00
Mode 2 2 2 2
Std.
.884 .750 .530 .493
Deviation
Variance .781 .563 .281 .243
Table 4.5.2 Management Staff articulate Clear Strategic Vision of the Organisation

Agree 38 60.3
Uncertain 0 0
Disagree 0 0
Total 63 100
44
Table 4.5.2 illustrates that 25(39.68%) employees strongly agreed, 38(60.32%) agreed,
0(0%) uncertain, 0(0%) disagreed and 0(0%) strongly disagreed. The intention of asking
a question concerning management staff articulating clear strategic vision of the
organisation was because it contributes to better leadership and hence performance. The
computed mode (descriptive statistic) is 2 is equivalent to the highest frequency of
strongly agree and agree of 25+38=63(100%) (Table 4.5.2). This implies that
management staff perfectly articulates a clear strategic vision of the organization.
Management Staff articulate Clear Strategic Vision of the

0 00 Organisation
Strongly agree
39.7
Agree
Uncertain
Disagree
60.3
Strongly disagree
Figure: 4.5.1 Management Staff articulate Clear Strategic Vision of the Organization
Management staffs articulate clear strategic vision of the organization because those who
agreed were 63(100%).
45
Table 4.5.3 Management Staff is Sensitive to Customers Needs that may affect
Performance

Agree 42 66.7
Uncertain 3 4.8
Disagree 0 0
Total 63 100
Table: 4.5.3 illustrates that 18(28.57%) employees strongly agreed, 42(66.67%) agreed,
3(4.76%) uncertain, 0(0%) disagreed and 0(0%) strongly disagreed. The intention of
obtaining data on management staff being sensitive to customers’ needs is because this
directly affects leadership and hence performance. The computed mode (descriptive
statistic) 2 (table 4.5.1) is equivalent to the highest frequency of 42 (table 4.5.3). Most
employees agreed that management staff is sensitive to customers’ needs that may affect
performance.
46
Management Staff is Sensitive to Customers Needs that may
00 affect Performance
4.8
28.6
Strongly agree
Agree
Uncertain
Disagree
Strongly disagree
66.7
Figure: 4.5.2 Management Staff is Sensitive to Customers Needs that may Affect
Performance
Management staff is sensitive to customers’ needs as those who strongly agreed and
agreed are 60(95.24%).
Table 4.5.4 Management takes Risk that may Influence Performance of the
Organization

Agree 37 58.7
Uncertain 14 22.2
Disagree 4 6.3
Total 63 100
47
Table 4.5.4 illustrates that 8(12.70%) strongly agreed, 37(58.73%) agreed, 14(22.22%)
were uncertain and those who disagreed were 4(6.35%).Management staff taking risks
that may influence performance of the organization is used in the study because it directly
affects performance. The computed mode (descriptive statistic) 2 is equivalent to the
highest frequency of 37(table 4.5.4). This means that most employees agree that
management takes risks that may influence performance of the organization.
Management takes Risk that may Influence Performance of

0 the Organization
6.3
12.7
22.2 Strongly agree

Agree
Uncertain
Disagree
Strongly disagree
58.7
Source; Generated from table 4.5.4
Figure: 4.5.3 Management staff takes risk that may influence performance of the
organization
Management staff takes risks that may influence performance of the organization as
employees who strongly agreed and agreed were 45(71.43%).
48
Table: 4.5.5 Management Staff is Sensitive to the Environment that may affect the
Performance of the Organization

Agree 30 47.6
Uncertain 17 27.0
Disagree 4 6.3
Total 63 100
Table 4.5.5 illustrates that 11(17 .46%) employees strongly agreed, 30(47.62%) agreed,
17(26.98%) uncertain, 4(6.35%) disagree and 1(1.59%) strongly disagreed. Management
staff is sensitive to the environment that may affect performance is used in the study
because it has a direct influence on performance. The computed mode (descriptive
statistic) is 2 is equivalent to the highest frequency of 30(table 4.5.5). This means that
most employees agreed that management staff is sensitive to the environment that may
affect the performance of the organization.
49
Management Staff is Sensitive to the Environment that may
1.6 affect the Performance of the Organization
6.3
17.5
Strongly agree
27 Agree
Uncertain
Disagree
Strongly disagree
47.6
Figure: 4.5.4 Management Staff is Sensitive to the Environment that may affect the
Performance of the Organization
Management staff is sensitive to the environment that may influence performance

because those who strongly agreed and agreed were 41(65.08%).
50
4.6 Effect of Leadership styles on Performance
Does Does Does visionary Does

transformational transactional leadership style charismatic
leadership styles leadership styles affect leadership style
affect affect performance affect
performance performance performance
N 63 63 63 63
Mean 1.65 1.94 2.27 1.89
Median 2.00 2.00 2.00 2.00
Mode 2 2 2 2
Std. Deviation .626 .644 .902 .785
Variance .392 .415 .813 .616
Table 4.6.2 Effect of Transformational Leadership Styles on Performance

Agree 31 49.2
Uncertain 5 7.9
Disagree 0 0
Total 63 100
Table 4.6.2 illustrates that 27(42.9%) strongly agreed, 31(49.2%) agreed, 5(7.9%)
uncertain, 0(0%) disagreed and 0(0%) strongly disagreed. Transformational leadership
styles was used in the study because it is an indicator of leadership and hence
51
performance. The computed mode (descriptive statistic) is 2(Table 4.6.1) is equivalent to
the highest frequency of 31(Table 4.6.2). Most employees agree that transformational
leadership style affect performance.
Table 4.6.3 Effect of Transactional Leadership Styles on Performance

Agree 37 58.7
Uncertain 11 17.5
Disagree 0 0
Total 63 100
Table 4.6.3 shows that 15(23.8%) employees strongly agreed, 37(58.7%) agreed,
11(17.5%) uncertain, 0(0%) disagreed and 0(0%) strongly agreed. Effect of transactional
leadership style was used in the study because it is an indicator of leadership and hence
performance. The computed mode (descriptive statistic) is 2 (Table 4.6.1) is equivalent to
the highest frequency of 37 (Table 4.6.3). Most employees agree that transactional
leadership style affect performance.
Table: 4.6.4 Effect of Visionary Leadership Style on Performance

Agree 29 46.0
Uncertain 15 23.8
Disagree 7 11.1
Total 63 100
52
Table 4.6.4 shows that 12(19.0%) strongly agreed, 29(46.0%) agreed, 15(23.8%)
uncertain, 7(11.1%) disagreed and 0(0%) strongly disagreed. Effect of visionary
leadership style on performance was used in the study because it is an indicator of
leadership and hence performance. The computed mode (descriptive statistics) is 2(Table
4.6.1) is equivalent to the highest frequency of 29 (Table 4.6.4). Most employees agree
that visionary leadership style affect performance.
Table: 4.6.5 Effect of Charismatic Leadership Styles on Performance

Agree 33 52.4
Uncertain 7 11.1
Disagree 3 4.8
Total 63 100
Table 4.6.5 indicates that 20(31.7%) strongly agreed, 33(52.4%) agreed, 7(11.1%)
uncertain, 3(4.8%) disagreed and 0(0%) strongly disagreed. Effect of charismatic
leadership style on performance was used in the study because it is an indicator of
leadership and hence performance. The computed mode (descriptive statistic) is 2(Table
4.6.1) is equivalent to the highest frequency of 33(Table 4.6.5). Most employees agreed
that charismatic leadership style affect performance.
4.7 Effect of Leadership Styles on Performance
Results of effect of transformational, transactional, visionary and charismatic leadership

styles on performance
53
Table 4.7.1 Regression of coefficients of determination derived from statistical
package for social sciences of effect of leadership styles on performance
Mode R R Square Adjusted R Std. Error of the

Square Estimate
1 .889a .790 .786 .227
a. Predictors: (Constant), Charismatic leadership style, Visionary leadership style,

Transactional leadership style, Transformational leadership style
Coefficient of determination (R2) is 0.790; therefore, about 79.0% of the variation in

effect of leadership styles on performance is explained by transformational leadership
style, transactional leadership style, visionary leadership style and charismatic leadership
style. About 21.0% of the variation is explained by other factors such as age, gender and
education and training or not covered by the study.
The t-statistics and their associated 2-tailed p-values are used in testing whether a given
coefficient is significantly different from zero. If the Significant (2-Tailed) value is
greater than 0.05 then there is correlation between the variables. This means, increases or
decreases in one variable do not significantly relate to increases or decreases in the other
variables. If the Sig (2-Tailed) value is less than or equal to 0.05 then statistically there is
a significant correlation between the variables. This means, change, increases or
decreases in one variable do significantly relate to change, increases or decreases in the
other variables.
54
4.7.2 Regression of coefficient derived from Statistical Package for Social Sciences of
effect of leadership styles on performance.
Model Unstandardized Standardized t Sig.

Coefficients Coefficients
B Std. Error Beta
(Constant) .217 .074 2.920 .004
Charismatic leadership
.787 .063 .757 12.548 .000
style
Transactional
.117 .023 .309 4.960 .000
leadership style
Visionary leadership
-.099 .055 -.125 -1.795 .074
style
Transformational
-.020 .077 -.017 -.257 .798
leadership style
a. Dependent Variable: Effect of leadership styles on performance
In table: 4.7.2 using an alpha of 0.05 the coefficient of charismatic leadership style is
12.548 (t statistic). This is significantly different from 0 because its p-value (0.000) is
less than 0.05. The coefficient of transactional leadership style 4.960 (t statistic)
is significantly different from 0 because its p value of (0.000) is less than 0.05. The
coefficient of visionary leadership style is -1.795 (t statistic) is not significantly different
from 0 because its p-value (0.074) is greater than 0.05. The coefficient
of transformational leadership style -0.257 (t statistic) is not significantly different from 0
because its p value of (0.798) is greater than 0.05. The coefficient of y intercept is 2.290
(t statistic) is significantly different from zero because its p value (0.004) is less than
0.05.
55
At 5% significance level (α = 0.05), the study examined if the regression model is useful
in establishing the correlation of variables in their effect of leadership styles on
performance. The null Hypothesis; “there is no significant relationship between
transformational leadership style, visionary leadership style and performance”
mathematically expressed as HO: β1 = β3 = 0 were rejected; the null hypothesis; there is
no significant relationship between charismatic leadership style, transactional leadership
style and performance” mathematically expressed as HO: β2 = β4 = 0 were accepted.
56
CHAPTER FIVE: SUMMARY, CONCLUSION
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
5.1 Summary
The summary of the findings are given in line with the objectives of the study. The first
objective was to assess the effect of transformational leadership style on performance.
There is statistically significant effect of transformational leadership styles on
performance of Sacco’s. Specifically, there is statistically significant effect on
management staffs having charisma and behaving in admirable ways, on management
motivating the staff by articulating vision that appeals to and inspires the staff, on
management staff stimulating and encouraging creativity in the staff and management
giving personal individual attention to the staff on performance of Sacco’s. This
knowledge will assist Sacco’s in management and hence performance.
The second objective was to assess the effect of transactional leadership style on
performance. There is statistically significant effect of transactional leadership styles on
performance of Sacco’s. Specifically, there is statistically significant effect on members
of staff being rewarded when they perform well and members of staff being assisted
when they have personal problems before it affects the organization. Finally, there is no
statistically significant influence on members of staff being assisted when they have
personal problems after it affects the organization on performance of Sacco’s. The
management of Sacco’s will identify how these indicators may or may not affect
leadership and hence performance of Sacco’s.
The third objective was to assess the effect of visionary leadership on performance. There
is statistically significant effect of visionary leadership styles on performance of Sacco’s.
Specifically, there is statistically significant effect on all factors; management staff plan
cautiously for the future of the organization, management staff acts early on the problems
that may affect performance and management staff taking risks that may influence
performance of the organization on performance of Sacco’s.
57
The fourth objective was to assess the effect of charismatic leadership style on
performance. There is statistically significant effect of charismatic leadership styles on
performance of Sacco’s. Specifically, there is statistically significant effect on all factors;
management staff articulating a clear strategic vision of the organization, management
staff being sensitive to customers need that may affect performance, management staff
taking risks that may influence performance of the organization and management staff
being sensitive to the environment that may affect performance of the organization on
performance of Sacco’s.
5.2 Conclusions
Based on the analysis of data presented in chapter four, the following conclusions have
been reached:
Most of the respondents indicated that stimulating and encouraging creativity in the staff
affect performance. The next transformational leadership styles that affect performance is
management staff having charisma and leading by behaving in an admirable way
followed by management motivating the staff by articulating vision that appeals to and
inspires the staff stood and finally giving personal individual attention to the staff.
Among the transactional leadership styles affecting performance, most respondents

indicated that assisting members of staff when they have personal problems before it
affects the organization performance. Another factor that featured prominently was
members of staff being rewarded when they perform well. Finally respondents disagreed
on members of staff being assisted when they have personal problems after it affects the
organization performance.
On visionary leadership styles affecting performance most respondents indicated that

management staff acting early on problems that may affect performance. The
management staff planning cautiously for the future of the organization followed and
finally management of staff taking risks that may influence performance of the
organization followed.
58
Among the charismatic leadership styles that affect performance, most respondents
indicated that management staff articulating a clear strategic vision of the organization
greatly affects performance followed by management staff being sensitive to customers’
need that may affect performance and management of staff taking risks that may affect
performance finally, the management staff being sensitive to the environment that may
affect the performance of the organization affecting performance had the least
percentage.
5.3 Recommendations for Further Research
The primary goal of leaders using leadership styles is to improve performance. Effect of
leadership on performance of Savings and Credit Cooperative Society (a case of Imarisha
Savings and Credit Cooperative Society in Kericho County, Kenya gives insight into the
specific leadership styles that have an effect on performance. In view of the findings the
following recommendations have been made:
The support staff should be stimulated and encouraged to be creative by facilitating team
building activities that make them free to associate and express their ideas to
management staff.
Study findings indicated that management staff should be sensitive to problems of the
employees and solve issues before it affects the organisations performance.
Management staff should be trained on new methods of leadership so as to keep up with

current leadership styles.
5.4 Suggestions for Further Research
The researcher recommends further research in the following areas.
The generalizations of study findings were applicable to Imarisha Savings and Credit
Cooperative Society. This requires a further study on other Savings and Credit
Cooperative Societies to determine the consistency of the results.
59
There is need for a comparative study between commercial banks with Savings and
Credit Cooperative Societies.
There is need to invest more on management training so that the management may have
skills on strategic leadership.
The study could be replicated but with a larger sample size of organizations in other
counties before the results could be generalized.
The generalizations of study findings were applicable to Imaisha Saving and Credit
Cooperative Society the SACCO under study. This requires a further study on other
SACCOS to determine the consistency of the results.
.
60
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82
APPENDIX A: QUESTIONNAIRE FOR MANAGEMENT STAFF
Dear Respondent,
My name is Rere Chepkoech Joyce, a student at Kenyatta University undertaking a

Masters Degree in Business Administration. I am doing a research on Effect of Strategic
Leadership on Performance of Savings and Credit Cooperative Societies: A case of
Imarisha Savings and Credit Cooperative Society Kericho County, Kenya. You have
been selected to participate in this study because you are management staff of Imarisha
Sacco. The participation in this study is voluntary. Do not write your name anywhere and
your responses will not be linked to you. The success of this study depends on your
truthfulness and honest responses to all the questions asked. For questions that apply, tick
(  ) appropriately unless instructed otherwise. For those that do not apply use cross
mark (×) unless instructed otherwise. There is no “right” or “wrong” answers. Please tick
or write what you do or know. The responses you give will be treated with utmost
confidentiality.
Thank you.
SECTION A
BACKGROUND INFORMATION
1. How old are you? Tick (  ) appropriately
18 to 24 years

25 o 34 years
)
35 to 44 years
45 years and above
83
2. Gender Tick (  ) appropriately Male Female
3. What is the highest level of education that you completed

Secondary education
Middle level college
Bachelors degree
Masters degree
PhD
4. How many years have you worked in the Sacco?

0-1 year 1-2 years 2-5 years 5-10 years Over10 years
5. Do you have any training in management? Yes No
6. If yes what is your level of training in Management?

Certificate
Diploma
Bachelors
Masters
PhD
SECTION B
LEADERSHIP STYLES
Please read the following statements and tick ( ) how you agree to the leadership styles
used in Imarisha Sacco.
84
To what extent has the following transformational leadership style by Imarisha Sacco
management staff affected the performance of your organisation?
Transformational Strongly Agree Uncertain Disagree Strongly

leadership styles Agree Disagree
7. Management staffs have
charisma and lead by
behaving in an
admirable way.
8. Management motivate
the staff by articulating
vision that appeals to
and inspires the staff.
9. We stimulate and
encourage creativity in
our staff.
10. Personal individual
attention is given to our
staff.
To what extent have the transactional leadership styles by Imarisha Sacco management
staff affected the performance of the organisation?
Questions Strongly Agree Uncertain Disagree Strongly

Transactional leadership Agree Disagree
styles
11. Our members of staff
are rewarded when they
perform well.
85
12. We assist members of
staff when they have
personal problems
before it affects the
organisation.
personal problems after
it affects the
organisation.
To what extent has the following visionary leadership style by Imarisha Sacco
Visionary leadership Strongly Agree Uncertain Disagree Strongly

styles Agree Disagree
14. Management staff plans
cautiously for the future
of the organisation.
15. Management staff acts
early on problems that
may affect performance.
16. Management staff take
risks that may influence
performance of the
organisation
To what extent has the following charismatic leadership style by Imarisha Sacco
86
Charismatic leadership Strongly Agree Uncertain Disagree Strongly
17. Management staff
articulates a clear
strategic vision of the
organisation.
18. Management staff is
sensitive to customers
need that may affect
performance.
performance of the
organisation
sensitive to the
environment that may
affect the performance
of the organisation
87
SECTION C
EFFECT OF LEADERSHIP STYLES ON PERFORMANCE
To what extent do the following leadership styles affect performance?
Questions on leadership Strongly Agree Uncertain Disagree Strongly

21. Do transformational
leadership styles affect
performance?
22. Do transactional
performance?
23. Do visionary leadership
styles affect
performance?
24. Do charismatic
performance?
88
APPENDIX B: QUESTIONNAIRE FOR SUPPORT STAFF
Dear Respondent,
My name is Rere Chepkoech Joyce, a student at Kenyatta University undertaking a

Masters Degree in Business Administration. I am doing a research on Effect of Strategic
Leadership on Performance of Savings and Credit Cooperative Societies: A case of
Imarisha Savings and Credit Cooperative Society Kericho County, Kenya. You have
been selected to participate in this study because you are management staff of Imarisha
Sacco. The participation in this study is voluntary. Do not write your name anywhere and
your responses will not be linked to you. The success of this study depends on your
truthfulness and honest responses to all the questions asked. For questions that apply, tick
(  ) appropriately unless instructed otherwise. For those that do not apply use cross
mark (×) unless instructed otherwise. There is no “right” or “wrong” answers. Please tick
or write what you do or know. The responses you give will be treated with utmost
confidentiality.
Thank you.
SECTION A
BACKGROUND INFORMATION
1. How old are you? Tick (  ) appropriately
18 to 24 years

26 o 34 years
)
35 to 44 years
46 years and above
89
2. Gender Tick (  ) appropriately Male Female
3. What is the highest level of education that you completed

Secondary education
Middle level college
Bachelors degree
Masters degree
PhD
4. How many years have you worked in the Sacco?

0-2 year 1-2 years 2-5 years 5-10 years Over10 years
5. Do you have any training in management? Yes No
6. If yes what is your level of training in Management?

Certificate
Diploma
Bachelors
Masters
PhD
90
SECTION B
LEADERSHIP STYLES
Please read the following statements and tick ( ) how you agree to the leadership styles
used in Imarisha Sacco.
To what extent has the following transformational leadership style by Imarisha Sacco
Transformational Strongly Agree Uncertain Disagree Strongly

leadership styles Agree Disagree
7. Management staffs have
charisma and lead by
behaving in an
admirable way.
8. Management motivate
the staff by articulating
vision that appeals to
and inspires the staff.
9. We stimulate and
encourage creativity in
our staff.
10. Personal individual
attention is given to our
staff.
91
To what extent have the transactional leadership styles by Imarisha Sacco management
staff affected the performance of the organisation?
Questions Strongly Agree Uncertain Disagree Strongly

Transactional leadership Agree Disagree
styles
11. Our members of staff
are rewarded when they
perform well.
personal problems
before it affects the
organisation.
personal problems after
it affects the
organisation.
92
To what extent has the following visionary leadership style by Imarisha Sacco
Visionary leadership Strongly Agree Uncertain Disagree Strongly

14. Management staff plans
cautiously for the future
of the organisation.
15. Management staff acts
early on problems that
may affect performance.
performance of the
organisation
To what extent has the following charismatic leadership style by Imarisha Sacco
Charismatic leadership Strongly Agree Uncertain Disagree Strongly

17. Management staff
articulates a clear
strategic vision of the
organisation.
sensitive to customers
need that may affect
performance.
93
performance of the
organisation
sensitive to the
environment that may
affect the performance
of the organisation
SECTION C
EFFECT OF LEADERSHIP STYLES ON PERFORMANCE
To what extent do the following leadership styles affect performance?
Questions on leadership Strongly Agree Uncertain Disagree Strongly

21. Do transformational
performance?
22. Do transactional
performance?
23. Do visionary leadership
styles affect
performance?
24. Do charismatic
performance?
94
APPENDIX C: RELIABILITY STATISTICS
Reliability Statistics
Cronbach's N of
Alpha Items
.714 24
95

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PERFORMANCE OF SAVINGS

CHAPTER ONE: INTRODUCTION

1.1 Background of the Study

According to Armstrong (2006), performance is the achievement of quantified objectives.

1.2 Statement of the Problem

Leadership in organisations is faced with many challenges which include limited

1.3 Objectives of the Study

The study will be guided by the following objectives

To establish the effect of transformational leadership style on performance

To assess the effect of transactional leadership style on performance

To determine the effect of visionary leadership style on performance

To find out the effect of charismatic leadership style on performance

1.4 Hypotheses of the Study

Ho1.There is no significant relationship between transformational leadership

1.5 Significance of the Study

1.6 Scope of the Study

This study focused on the effect of leadership on performance of Imarisha Sacco

1.7 Assumptions of the Study.

The study was based on the following assumptions:

The study is expected to encounter a number of limitations

2.1 Theoretical Review

2.1.1 Transformational Leadership Theories

2.1.2 Transactional Leadership Theories

According to Kotter, (2001) visionary leaders focus on knowledge and develop

2.2 Empirical Review

Previous empirical studies provided knowledge on the relationship between leadership

Among the various theories of leadership and motivation relating to effective

The effect of transformational leadership on organisational effectiveness was also

2.3 Leadership Styles

Leadership is important for any organisation and its importance cannot be

2.3.1 Transformational Leadership Style

Review on the leadership styles led to the identification of idealized influence,

2.3.3 Transactional Leadership Style

Transactional leadership is a leadership in which employees who perform well, or exceed

2.3.3 Visionary Leadership Style

2.3.4 Charismatic Leadership Style.

A review of work written by (Yuki 2006) indicated that performance measurement

Human resource and relations Organisational performance

Innovation and adaptation

Figure: 2.3.1 Organisational performances

LoBiondo-Wood & Haber (1998), state that a theoretical framework is a frame of

Figure: 2.4.1 Theoretical framework of the study

2.5 Conceptual Framework

According to Miles and Huberman (1994), a conceptual framework is a visual and

Transformational leadership style

Figure: 2.5.1 Conceptual framework of the study

3.1 Research Design

According to Malhotra (2004), a research design is a detailed blueprint to guide a

3.2 Target Population

Level Target Population Sample size

Source: Imarisha SACCO employee record of 2015

3.3 Sampling Design

According to Lucey (2000) sampling design is the selection of individual observations

Random Sampling is a method of selecting a sample from a population in a way that

3.4 Data Collection

Reliability of an instrument is the degree of consistency with which it measures a variable

According to Orodho (2009), data analysis is the process of systematically

3.6 Ethical Considerations

4.1 Demographic Characteristics of Respondents

Source: Research data (2015)

Age Frequency Percent%

Source: Research data (2015)

Table: 4.1.3 Gender of Employees