CORPORATE GOVERNANCE AS A MEANS OF BOLSTERING STRATEGIC MANAGEMENT VIA TRANSFORMATIONAL LEADERSHIP
EVANGELIA FRAGOULI *
University of Dundee, Dundee, DD1 4HN, UK.
SHIRLEY ABOAGYE
University of Dundee, Ghana.
*Author to whom correspondence should be addressed.
Abstract
The main objective of this paper is to explain how corporate governance is a primary tool for bolstering strategic management using the discourse and theoretical framework behind transformational leadership. Corporate governance and transformational leadership are intrinsically linked because values and competencies are at the core of effective leadership. Ghana’s emergence as a middle-income economy is presented as a case study in this paper where strategic and operational solutions are needed to bolster both corporate governance and corporate social responsibility. An empirical study also takes place through the application of the Multifactor Leadership Questionnaire (MLQ) in a small sample of companies. The main conclusion that contributes to literature is that transformational leadership will be the best tool to realign the resources of the power in the petroleum sector in order to bring new insight to the strategic policies across board in countries like Ghana.
Keywords: Corporate governance, corporate social responsibility, petroleum, leadership