Leading business organizations in the global era: decision making in chaos and crisis situations

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Chaos is an inescapable part of modern day reality in business organizations across the world. In the midst of globalization, business leaders are constantly confronted with chaos due to various political, economic and social issues. Chaos introduces uncertainty, unpredictability, irregularity and randomness in organizations; and it challenges the conventional leadership theories, models and philosophies. The main objective of this research paper is to explore the concept of chaos in business organizations and how it affects the leadership capacity. It is a literature review based study focusing on the broader definition of chaos; application of chaos in business organizations; how chaos emerges; consequences of chaos; factors influencing and shaping chaos; and how leaders manage business organizations in the presence of chaos. This essay explores also the connection of chaos and crises faced by leaders and the role of decision-making indicating that as world slowly inches deeper into the global era business must slowly adapt and change to successfully fit in. The work concludes by stating the type of leadership needed and decision-making style needed for a business to thrive. It also concludes that complexities and uncertainty associated with chaos are often ignored when business models, practices, strategies and policies are formulated in most organizations, and as a result it becomes challenging for business leaders to deal with chaos when it arises. Application of chaos theory in business organizations provides a promising and pragmatic remedy to business challenges.
Original languageEnglish
Title of host publicationHellenic Open Business Administration International Conference 2015
Subtitle of host publicationConference Proceedings
EditorsDimitrios A. Giannias, Athanasios Mihiotis, Eleni Sfakianaki
PublisherHellenic Open University
Volume1
ISBN (Print)9789605389505
Publication statusPublished - 2015
Event2nd Hellenic Open Business Administration International Conference - Patras, Greece
Duration: 7 Mar 20158 Mar 2015
http://hoba.gr/

Conference

Conference2nd Hellenic Open Business Administration International Conference
Abbreviated titleHOBA 2015
CountryGreece
CityPatras
Period7/03/158/03/15
OtherThe HOBA is a virtual web-based conference
Internet address

Keywords

  • Chaos
  • crisis
  • leadership
  • business
  • decision making
  • organizations

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