Leadership shifts required to be successful in the new economy

De Beer, Christina Magdelena (2009-12)

Thesis (MBA (Business Management))--University of Stellenbosch, 2009.

Thesis

ENGLISH ABSTRACT: The mass production economy of the major part of the twentieth century has undergone a fundamental change to a global, knowledge-based and entrepreneurial-driven economy, where products and services are now fuelled by innovation, technology and knowledge. Over the last few decades, globalisation has transformed the commercial and political world, and globalisation itself is now entering a more complex phase. Centers of economic activities have shifted profoundly, not only globally, but also regionally. Along with this shift, new rules have been established. Faced with the challenges of the new economy, organisations are forced to adapt to the changes with which they are confronted as customers, markets, societies, employees, competition and technology are all impacted. The new economy requires a different type of leader. Achieving high performance in an increasingly interdependent world will become a challenge facing organisations in both developed and emerging economies. The degree of connectivity between economies, business and individuals worldwide is probably the most important element of the new economy. Highly improbable, but also highly consequential types of events will become more frequent as turbulence increases. Implausible events become possible. Leaders with the ability to anticipate the probability of such occurrences will be the ones who will reap benefits by applying the dynamics pertaining to the new economy. Interest in leadership and the theories thereof gained momentum during the twentieth century. Even though many leadership theories developed over the last decades, the core of these theories changed little. However, the new economy brings new challenges and leaders must also adapt to the changing environment. Without effective leaders companies cannot succeed. It is therefore imperative that leaders understand the qualities of the environment as well as the attributes they need to be successful. Leaders who have the foresight to take advantage of the opportunities which the new economy offers them and who have mastered the ability to react with agility to these opportunities will have the competitive advantage needed for the future.

AFRIKAANSE OPSOMMING: Die massa produksie ekonomie van die groter deel van die twintigste eeu het ‘n fundamentele verandering ondergaan na ‘n globale, kennis gebaseerde en entrepreneur gedrewe ekonomie, waar produkte en dienste nou deur innovasie, tegnologie en kennis aangevuur word. Globalisering het die kommersiële en politiese wêreld gedurende die laaste paar dekades getransformeer en globalisering is self besig om ’n meer komplekse fase binne te tree. Sentra van ekonomiese aktiwiteit het drasties geskuif, beide globaal en streeksgewys. Tesame met hierdie skuif het nuwe reëls ontstaan. Organisasies word gekonfronteer met die uitdagings van die nuwe ekonomie en is geforseer om aan te pas by die uitdagings wat voor hul lê, aangesien kliënte, markte, gemeenskappe, werknemers, kompetisie en tegnologie almal geïmpakteer word. Die nuwe ekonomie vereis ‘n nuwe tipe leier. Om hoë prestasie in ’n toenemend interafhanklike wêreld te bereik is ’n uitdaging wat organisasies in beide die ontwikkelde en ontwikkelende lande in die gesig staar. Die hoë vlak van skakeling tussen ekonomieë, besighede en individue wêreldwyd is waarskynlik die belangrikste element van die nuwe ekonomie. Soos wat turbulensie toeneem, sal hoogs onwaarskynlike, maar ook hoogs konsekwensiële tipes gebeurtenisse ook meer dikwels voorkom. Onverstaanbare gebeurtenisse het moontlik geword. Leiers met die vermoë om die waarskynlikheid van sulke gebeurtenisse te voorspel sal diegene wees wat die vrugte van die nuwe ekonomie sal pluk deur die regte dinamika toe te pas. Belangstelling in leierskap en leierskap teorieë het momentum bygekry gedurende die twintigste eeu. Alhoewel baie leierskap teorieë ontwikkel het gedurende die laaste paar dekades, het die kern daarvan weinig verander. Die leierskap model van die nuwe ekonomie verskil egter heelwat van die huidige. Maatskappye kan nie oorleef sonder effektiewe leiers nie. Om daardie rede is dit noodsaaklik dat leiers die eienskappe van die omgewing verstaan, sowel as die eienskappe wat hulle nodig het om suksesvol te wees. Leiers met die nodige insig om voordeel te trek uit die geleenthede wat die nuwe ekonomie aan hulle bied, en wie die vermoë bemeester het om met gereedheid te reageer op hierdie geleenthede, sal die kompeterende voordeel in die toekoms hê.

Please refer to this item in SUNScholar by using the following persistent URL: http://hdl.handle.net/10019.1/940
This item appears in the following collections: