Abstract
The economic environment of the Digital Age, characterized by the acceleration of technology innovation, fierce competition in gaining competitive advantage, increasing consumer expectations, and emerging market pressure, leads leadership to adapt Vision and Entity Strategy to new performance standards. Thereby, Leadership is the key active force that motivates and coordinates an organization to accomplish its objectives. A leader creates a vision for the others and then directs them towards achieving that vision. To be a leader, you must have followers who have confidence in you and who give you their support and commitment to a goal. The objective of this chapter is to demonstrate the role of contemporary leader in the digital economy.
TopBackground
A review of the leadership literature shows an evolving sequence of schools of thought from Great Man and Trait theories to “Transformational” leadership (Barnes, Dang, Leavitt, Guarana, & Uhlmann, 2018). Although early theories focused on the characteristics and behaviors of successful leaders, later theories begin to consider the role of followers and the related nature of leadership (Drucker,1985; Gnyawali, & Fogel, 1994).
One of the first studies of leadership behaviour explore three leadership styles: autocratic, democratic, and laissez-faire (Schumpeter, 1942; Schumpeter, 1934; Kirzner, 1979).
Key Terms in this Chapter
Entrepreneurship: Business strategy focused on the creation of jobs, social wealth, and profit by optimizing the use of productive and commercial resources.