LEADERSHIP STYLES: A DECADE AFTER ECONOMIC RECESSION AND LESSONS FOR BUSINESSES IN DEVELOPING ECONOMIES

Francis Donkor () and Zhou Dongmei ()
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Francis Donkor: School of Management and Economics, University of Electronic Science and Technology of China, No. 2006 Xiyuan Ave, West Hi-Tech Zone, Chengdu- Sichuan, China
Zhou Dongmei: School of Management and Economics, University of Electronic Science and Technology of China, No. 2006 Xiyuan Ave, West Hi-Tech Zone, Chengdu- Sichuan, China

Management Research and Practice, 2018, vol. 10, issue 3, 5-23

Abstract: This paper explores the leadership theories and approaches that has been practiced for several decades now to see how efficacy they are in today’ global market place where there is competition and sometimes chaotic. It sought to identify their characteristics to determine their importance and how they were approached pre- economic recession in 2007/2008. The approaches a decade ago do not seem to have a paradigm shift. Transactional and transformational leadership styles have been adjudged to have positive relationship with organizational performance in the west but coincidentally have been replicated elsewhere. These leadership approaches have been criticized by many researchers. This put them in the light that is difficult to rely on in times chaos in the business world. The uncertainties found across the business world suggest that there should be a hybrid that put business sustainability at a higher point. This article suggest that managers in developing economies should not approach leadership of enterprises in a ‘straight jacket’ manner but rather consider the culture and beliefs of the people they deal with in order to sustain the business world they find themselves. The business leadership need creative thinking that require innovation, different ways of doing business, adapted and collaboration, and for this to happen the researchers advocate that the leaders in today’s business think of themselves as having possibility to become creative change agents who are ready and willing to sacrifice for the entity where they get their daily bread and prestige. This does not mean that traditional top-to-down approach to leadership is not important but rather, the other more complex and adaptive methods of leadership engagement require thinking and doing things differently is the creative concept. In this case the researchers believe that, the values, beliefs, aptitudes that can build capacity for innovation and global mindset is what is needed to move beyond recession and clear need for training young professionals to integrate with on-the-job experience for team work and communication. This is the only way they can realize the objective of the enterprises. Keywords: : Leadership styles; economic recession; sustainability; transformational; transactional; developing economies

Date: 2018
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