Leadership is the ability to lead a group of people within an organization with certain values and code of conducts in an effective way. The current situation in the global market, where there is plenty of competition between various Enterprises, there is a huge demand for a useful and a successful leader. The high complexity of the technology, economic, social and political factors make all the more complicated for the leader to take favourable decisions. Consequently, the margin for error is so minimal that any wrong decision taken by the leader will put the whole group of people into precarious situation.
Leadership Definition ➢ Leadership is a method of directing a cluster of people to meet a set of …show more content…
Immigration laws, fuel prices, foreign exchange rates, banking loans and interest rates have all become more significant for a global organization to keep track of so they make appropriate choices suitable for the circumstances at right time.
The global recession that occurred recently is a good example of economic factor. Let’s study some organizations which lost and those that thrived during global recession in 2008
Circuit City is a major electronics company that started in the middle of nineteenth century headed to great loss due to poor financial management and less demand in the market. It became pauper in the end of the year 2008. Similarly, Sharpar Image, known for selling innovative gifts using myriad of latest technologies succumbed to deteriorating sales and was shut down by September. Steve & Barry's unable to meet its debt liabilities and closed its business operations by the end of the year 2008.DHL, the international express-mail company, stopped shipping within the U.S. in January 2000.
While most of the companies posted losses during the hard times of global recession, there were a few companies that survived and some made profit during this period. It’d be quite interesting to see what strategy was equipped to oversee the chaotic conditions and book profits.