DISCLAIMER: ENT304 PAST QUESTIONS AND ANSWERS IN NOUN IS A SERIES OF PAST QUESTIONS AND ANSWERS PROVIDED FOR EXAM PREPARATIONS; THEREFORE, IT IS ALSO IMPORTANT YOU USE THE EXAM KEYNOTES ALONGSIDE.

CLICK HERE TO GET THE ENT301 EXAM KEYNOTE.

NATIONAL OPEN UNIVERSITY OF NIGERIA

PLOT 91, CADASTRAL ZONE, NNAMDI AZIKIWE EXPRESSWAY, JABI, ABUJA

FACULTY OF MANAGEMENT SCIENCES

DEPARTMENT OF ENTREPRENEURIAL STUDIES

       2015_2 EXAMINATION

---

ENT 304: LEADERSHIP AND CORPORATE GOVERNANCE   

CREDIT UNIT: 2

COURSE CODE: ENT304                                     

TIME ALLOWED: 3 HOURS

Instruction:

1. Attempt question number one (1) and any other three (3)

2. Question number one (1) is compulsory and attracts 25 marks, while any other three questions attract 15 marks each

3. Present your answers any points in a clearly and orderly manner

1.(a). Leadership is a concept with vast definitions from different authors and Entrepreneurs. Write any Ten (10) different definitions of the concept of leadership.

    (b). Briefly explain any five (5) principles of leadership.

    (c). Briefly describe any five (5) types of Leaders. (30 marks)

2.(a). Briefly discuss the five (5) sources of leadership power.

    (b).i. Define servant leadership

        ii. Discuss any four (4) major characteristics of a servant leader. (20 marks)

3.(a). Discuss any five (5) elements of leadership problems in Nigeria. (20 marks)

    (b). Discuss any two (2) major theories of corporate governance and their assumptions.

 4. (a). Discuss any four (4) Contingency theories of leadership and their assumptions.

      (b). Describe any five (5) functions of board of Directors. (20 marks)

5.(a). Discuss any four (4) emerging leadership theories and their assumptions. (20 marks)

(b). Mention any five (5) rights and privileges of shareholders.

ANSWERS

QUESTION 1

(a) Ten Definitions of Leadership (10 marks)

1. Leadership is the ability to influence others toward achieving a common goal.
2. Leadership is the process of directing and motivating people to accomplish objectives.
3. Leadership is the act of guiding a group toward shared vision and purpose.
4. Leadership is the ability to inspire and mobilize followers.
5. Leadership is the process of social influence in which one person enlists support of others.
6. Leadership is the ability to coordinate and control group activities.
7. Leadership is decision-making and responsibility for group outcomes.
8. Leadership is the art of influencing behavior without coercion.
9. Leadership is the ability to create vision and align people toward it.
10. Leadership is the process of achieving organizational goals through people.

(b) Five Principles of Leadership (10 marks)

1. Vision 

A good leader provides clear direction and future goals

• Integrity 

Honesty and ethical behavior build trust

• Accountability 

Leaders take responsibility for actions and results

• Communication 

Clear and effective communication ensures understanding

• Empowerment 

Encouraging and developing team members

(c) Five Types of Leaders (10 marks)

1. Autocratic Leader 

Makes decisions alone

• Democratic Leader 

Involves team in decision-making

• Laissez-faire Leader 

Gives freedom to subordinates

• Transformational Leader 

Inspires change and innovation

• Transactional Leader 

Focuses on rewards and punishments

QUESTION 2

(a) Five Sources of Leadership Power (10 marks)

1. Legitimate Power 

Comes from official position

• Reward Power 

Ability to give rewards

• Coercive Power 

Ability to punish

• Expert Power 

Based on knowledge and skills

• Referent Power 

Based on respect and admiration

(b)(i) Definition of Servant Leadership (2 marks)

Servant leadership is a leadership style where the leader prioritizes serving others, meeting followers’ needs, and promoting their growth and well-being.

(b)(ii) Four Characteristics of a Servant Leader (8 marks)

1. Empathy 

Understands followers’ needs

• Listening 

Pays attention to others’ views

• Humility 

Puts others before self

• Commitment to Growth 

Develops people’s potential

QUESTION 3

(a) Five Elements of Leadership Problems in Nigeria (20 marks)

1. Corruption 

Misuse of public resources

• Lack of Accountability 

Leaders not answerable to citizens

• Poor Vision and Planning 

Absence of long-term strategies

• Ethnic and Religious Bias 

Decisions influenced by divisions

• Weak Institutions 

Ineffective governance systems

(b) Two Theories of Corporate Governance (10 marks)

1. Agency Theory

• Focus: relationship between owners (shareholders) and managers
• Assumption: managers may pursue personal interests
• Solution: monitoring and control mechanisms

2. Stakeholder Theory

• Focus: organization serves all stakeholders (employees, society, etc.)
• Assumption: firms must balance multiple interests

QUESTION 4

(a) Four Contingency Theories of Leadership (10 marks)

1. Fiedler’s Contingency Theory
   1. Leadership effectiveness depends on situation
2. Path-Goal Theory
   1. Leader helps followers achieve goals
3. Situational Leadership Theory
   1. Leadership style changes based on followers
4. Hersey-Blanchard Theory
   1. Leadership depends on follower maturity

(b) Five Functions of Board of Directors (10 marks)

1. Policy Formulation 
2. Strategic Planning 
3. Monitoring Management 
4. Financial Oversight 
5. Ensuring Legal Compliance 

QUESTION 5

(a) Four Emerging Leadership Theories (10 marks)

1. Transformational Leadership 

Inspires change and innovation

• Servant Leadership 

Focus on serving others

• Charismatic Leadership 

Based on personality and influence

• Authentic Leadership 

Emphasizes transparency and ethics

(b) Five Rights and Privileges of Shareholders (10 marks)

1. Right to Vote 
2. Right to Dividends 
3. Right to Information 
4. Right to Transfer Shares 
5. Right to Attend Meetings

QUESTION 1

1(a) Four Factors of Transformational Leadership (16 Marks)

Transformational leadership enables leaders to achieve performance beyond expectations through the following four key factors:

1. Idealized Influence (Charisma)

• Leader acts as a role model
• Gains trust, respect, and admiration
• Followers emulate the leader’s values

2. Inspirational Motivation

• Leader communicates a clear vision 
• Motivates and inspires followers to achieve more
• Builds enthusiasm and commitment

3. Intellectual Stimulation

• Encourages creativity and innovation
• Challenges old assumptions
• Promotes problem-solving and critical thinking

4. Individualized Consideration

• Treats followers as individuals
• Provides coaching and mentoring
• Focuses on personal development

1(b) Seven Reflections of Good Governance of a Leader (14 Marks)

1. Accountability 

Leader is answerable for actions

• Transparency 

Open decision-making processes

• Rule of Law 

Adherence to laws and regulations

• Participation 

Inclusion of stakeholders

• Responsiveness 

Addresses public needs promptly

• Equity and Fairness 

Equal treatment of all

QUESTION 2

2(a) Transactional Leadership Theory (5 Marks)

Transactional leadership is a leadership style based on exchange relationships between leaders and followers.

• Leaders provide rewards for performance
• Punishments for failure
• Focus on structure, discipline, and routine

2(b) Three Leadership Situations by Fiedler (15 Marks)

According to Fred Fiedler, leadership effectiveness depends on situational favorableness:

1. Leader-Member Relations

• Level of trust and confidence between leader and followers

2. Task Structure

• Clarity and structure of tasks
• Structured tasks → easier leadership

3. Position Power

• Authority of the leader
• Strong power → better control

QUESTION 3

Ohio State Leadership Studies (20 Marks)

The Ohio State studies identified two major dimensions of leadership behavior:

1. Initiating Structure

• Focus on tasks and organization
• Defines roles and responsibilities
• Emphasizes performance and deadlines

2. Consideration

• Focus on relationships
• Shows concern for followers
• Builds trust and respect

Significance

• Leaders can be high or low in both dimensions
• Effective leadership balances both

QUESTION 4

4(a) Five Sources of Leadership Power (10 Marks)

1. Legitimate Power 

From position or authority

• Reward Power 

Ability to give incentives

• Coercive Power 

Ability to punish

• Expert Power 

Based on knowledge

• Referent Power 

Based on admiration

4(b) Notes

(i) Legitimacy Theory (5 Marks)

• Organizations must operate within societal norms and expectations 
• Legitimacy ensures acceptance and survival
• Failure leads to loss of trust

(ii) Political Theory (5 Marks)

• Focuses on power distribution in organizations 
• Decisions influenced by political interests
• Recognizes role of stakeholders and conflicts

Definition of Leadership (3 Marks)

Leadership is the ability to influence, direct, and guide individuals or groups toward the achievement of organizational goals.

1(b) Seven Qualities of Leadership (7 Marks)

1. Integrity – honesty and strong moral principles
2. Confidence – belief in one’s ability to lead
3. Communication Skills – ability to convey ideas clearly
4. Vision – ability to set future direction
5. Decisiveness – ability to make timely decisions
6. Empathy – understanding followers’ needs
7. Accountability – taking responsibility for actions

1(c) Five Principles of Leadership (10 Marks)

1. Vision and Direction 

Leaders must set clear goals

• Lead by Example 

Demonstrate expected behavior

• Effective Communication 

Ensure clarity and understanding

• Empowerment 

Delegate and develop others

• Responsibility and Accountability 

Accept outcomes of decisions

1(d) Five Types of Leadership (10 Marks)

1. Autocratic Leadership 

Leader makes decisions alone

• Democratic Leadership 

Encourages participation

• Laissez-faire Leadership 

Minimal supervision

• Transformational Leadership 

Inspires innovation and change

• Transactional Leadership 

Based on reward and punishment

QUESTION 2

2(a) Likert’s Four Systems of Management (10 Marks)

Developed by Rensis Likert

1. Exploitative-Authoritative 

No trust in employees, decisions centralized

• Benevolent-Authoritative 

Limited trust, some delegation

• Consultative 

Leader seeks opinions but retains control

• Participative 

Full involvement of employees in decision-making

2(b) Blake and Mouton’s Leadership Grid (10 Marks)

Developed by Robert Blake and Jane Mouton

Five Leadership Positions

1. Impoverished (1,1) 

Low concern for people and production

• Country Club (1,9) 

High concern for people, low for production

• Task (9,1) 

High production, low concern for people

• Middle-of-the-Road (5,5) 

Balanced but moderate performance

• Team Leadership (9,9) 

High concern for both people and production

QUESTION 3

3(a) Differences: Transformational vs Charismatic Leaders (8 Marks)

Transformational Leader	Charismatic Leader
Focus on vision and change	Focus on personality
Develops followers	Followers depend on leader
Encourages innovation	Relies on charm
Long-term impact	Short-term influence

3(b) Six Features of Charismatic Leaders (12 Marks)

1. Strong Vision 
2. High Confidence 
3. Excellent Communication 
4. Emotional Appeal 
5. Risk-taking Ability 
6. Personal Magnetism 

QUESTION 4

4(a) Short Notes

i. Situational Leadership Style (5 Marks)

• Leadership style changes based on situation
• Considers followers’ ability and willingness
• Flexible and adaptive

ii. Benevolent Leadership Style (5 Marks)

• Leader shows concern for followers
• Provides support but retains authority
• Builds loyalty

iii. Servant Leadership Style (5 Marks)

• Leader serves followers first
• Focus on growth and well-being of others
• Promotes teamwork and trust

iv. Task-Oriented Leadership Style (5 Marks)

• Focus on achieving goals and tasks
• Emphasizes structure, deadlines, and productivity

In conclusion

Kindly note that the above practice questions and answers are not limited to the above questions and answers.

More practice questions and answers will bw updated from time to time. So do well to come back checking for more.

Home