Question

identify any strategic groups that might exist in the banking industry. How does the intensity of competition differ across these strategic groups?

Answer 1

The leader–member exchange (LMX) theory is a relationship-based approach to leadership that focuses on the two-way (dyadic) relationship between leaders and followers.[1] It suggests that leaders develop an exchange with each of their subordinates, and that the quality of these leader–member exchange relationships influences subordinates' responsibility, decisions, and access to resources and performance.[2] Relationships are based on trust and respect and are often emotional relationships that extend beyond the scope of employment.[3] Leader–member exchange may promote positive employment experiences and augment organizational effectiveness.[4] It is widely used by many managers and is replacing many of its predecessors.