Market-Tržište, Vol. 36 No. 1, 2024.
Prethodno priopćenje
https://doi.org/10.22598/mt/2024.36.1.43
Crisis as a Catalyst of Market Shaping: The Role of Leadership at Different Stages of Business
Jan Wegert
; Prague University of Economics and Business
Sažetak
Purpose – The objective of this research study is to examine how businesses navigate crises by leveraging market shaping and embracing transformational and transactional leadership. Specifically, the study aims at investigating the behavioral responses of companies during the COVID-19 crisis, exploring their market-shaping practices, the challenges encountered, and the leadership styles employed.
Design/Methodology/Approach – Qualitative research is employed in this study, using in-depth, semi-structured interviews conducted with managers of large companies and SMEs.
Findings and Implications – The extent to which companies engage in market shaping depends on the stage of their business, with crises as one of several determining factors. In the early stages of business, companies seem to engage in market shaping, with leaders driving teams to gain market position. As they become better established, companies tend to become more reactive due to blockers stemming from transactional leadership, so they focus on core business. The crisis stage acts as a catalyst for market shaping, prompting companies to adopt a more transformative leadership style and foster a culture of change.
Limitations – The study is limited to the perceptions of 11 managers from the Central Europe region. Further investigation using quantitative research methods would provide a more comprehensive understanding of the topic.
Originality – The study highlights how companies engage in market shaping at different business stages. It emphasizes the role of crises as catalysts for market shaping. The study underscores how companies embrace transformational leadership and foster a culture of change during crises to adapt to new market conditions.
Ključne riječi
market shaping; transformational & transactional leadership; crisis;
Hrčak ID:
318201
URI
Datum izdavanja:
21.6.2024.
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