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Impact of Leadership on Company Performance During Financial Crisis: A Case Study of Sawgrass Mills, Florida

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This research project investigates the impact of leadership on a company's performance during a financial crisis. Using Sawgrass Mills, Florida as a case study, the project aims to understand the role of leadership in navigating economic challenges and the effectiveness of crisis leadership strategies. The study employs a qualitative research approach, drawing data from various sources including academic journals, articles, and industry reports. The project will analyze the significance of leadership in general, the impact of leadership decisions during a crisis, and the role of crisis leadership in mitigating financial difficulties. The findings will contribute to the understanding of leadership effectiveness in crisis situations and provide insights for businesses facing similar challenges.

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BUSN20016 RESEARCH IN BUSINESS, T2, 2017
ASSESSMENT 3

Project Title
: Impact of leadership on the company during
the financial crisis: A case study of Sawgrass Mills, Florida

1

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Table of Contents
1.0.
Introduction..................................................................................................................... 3
2.0.
Problem Statement..........................................................................................................3
3.0. Aim and objectives/research questions
...............................................................................4
4.0. Justification and potential output of the research
................................................................4
5.0. Conceptual framework and hypothesis development
.........................................................5
5.1 Role of leadership
............................................................................................................ 5
5.2. Impact of leadership decisions
........................................................................................ 5
5.3 Crisis Leadership
..............................................................................................................6
5.4 Hypothesis Development
.................................................................................................7
6.0. Methodology
.......................................................................................................................8
6.1. Research Approach and sources of data
..........................................................................8
6.2. Proposed data collection and analysis techniques
...........................................................8
6.3 Organisation of the study
.................................................................................................8
6.4. Budget, Project Activities and Gantt chart
......................................................................9
References
................................................................................................................................ 12
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1.0. Introduction
A style of leadership is being considered as the style of leader for giving direction, motivating

people and making implementation of plans. It is the result of the personality, experience and

the philosophy of the leader that makes an organisation successful. Leadership is there in

both practical skills and research area surrounding the individual’s or organisation’s ability to

guide or lead whole association, teams or individuals. It is very necessary for an organisation

to have a leader if it wants to make success and profit in an appropriate manner (
Bello, 2012).
Employees must have the development of effective leadership skills in order to lead the team

and project success. The topic of this project is in regards to the ‘Influence of leadership on

the organisation at the time of financial crisis- a case study of Sawgrass Mills, Florida'.

In the growing world of competition, there are many companies who are facing a financial

crisis and due to this reason they are not able to make sufficient growth and profit and this

makes an impact on securing customer loyalty and satisfaction. At the time of the financial

crisis, management practices and leadership gets discredited (
Hart & Spero, 2013). This had
made the development of the new thinking regarding leadership and organisation in the

financial services and in overall business. For this report, the chosen company is Sawgrass

Mills; it is a shopping mall being operated by the group of Simon Property in Florida. The

impact of the financial crisis makes an overall impact on the company and also on the

economy of the nation.

This report will get started from the introduction and will be carried forward by the research

objectives, problem declaration, explanation of the proposal and the predictable results under

the section 2 and 3. In section 4, the conceptual framework, as well as the hypothesis of the

research, will be there in addition to the section 5 of methodology. In section 6, an

association of the study, Budget and Gantt chart will be prepared for the purpose of carrying

out proposal.

2.0.
Problem Statement
Leadership is considered as the actions which are presented by the leaders to have instant

changes in the outcomes, attitude and behaviours of persons. It is one the main thing that

supports an organisation to face various challenges in smoothly. Although there are various

researches that take place on the aspects of the leadership, only limited research is there on

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the impact of the leadership at the time of financial crisis faced by the company (Timberlake,
2013
). Therefore, the main plan of this project is to find out how leadership makes an impact
or what the role of it is when a financial crisis has been faced by the company like Sawgrass

Mills. The analysis will also be there in regards to the concept of crisis leadership and its role

at the time of the economic crisis that takes place in a business.

3.0. Aim and objectives/research questions

Aim
: The prime motive of this report is to have an analysis in regards to the impact of the
leadership on the company at the time of the situation of financial crisis in Sawgrass Mills,

Florida. The proper analysis will be done in this report and attempt will be made to answer

the below-given questions.

Research Questions:

RQ1:
What is the significance of leadership in a company?
RQ2
: What is the impact of leadership on the organisation at the time of financial crisis?
RQ3
: What is the role of crisis leadership at the time of financial crisis?
4.0. Justification and potential output of the research

By making an analysis of the various critiques, it can be seen that the focus of the authors is

on the effectiveness of the leadership in regards with problem-solving, satisfaction of

customers, innovation, effectiveness and success. The very limited analysis was there in

relation with the influence of leadership at the time of financial impact. A study was done by

Goleman, et. al., 2013,
focuses on the analysis of the financial crises with the perspective of
leadership but not exactly on analysing the role of the leadership at the time when the

company is facing financial issues. Therefore, a gap is there in the literature in regards to the

influence of the leadership during issues related to finance. The present study focuses on this

topic only and is considered as the major rationale behind the study.

Answers of all the developed research questions that are defined in the proposal will be given

on the basis of analysis, findings and collection of data. All such outputs of the research will

be visible as the significant work of academics in regards to the issue that is determined in the

4

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proposal of the research. Apart from it, in this research will also provide an advantage to the
users and learners.

5.0. Conceptual framework and hypothesis development

5.1 Role of leadership

In accordance wit
h Tannenbaum, et. al., (2013), in an organisation there are different factors
which are having a great impact on its operations and activities. It is very important for the

company to use the most suitable elements and factors at the time of any critical situation.

The leaders are one of the most important elements who is having a great role in the

company. There are many roles and responsibilities which is been played by the leaders. It

will be helping the company to manage and organise the things in the appropriate manner.

There are situations where the crises, especially in context to the financial aspects, get arise.

The company get affected with several things if the financial crisis takes place as finance in

the company is playing an essential role in the sustainability and survival. It is very important

for the company to make effective and appropriate
strategies and plans so that they can be
able to manage the problems and issues which are
faced by it.
As asserted by
Wong & Laschinger (2013), at a time of crisis the assistance of the leaders are
playing an essential and vital role. The guidance and the support that is been made by the

leader in the company is helping in managing the problems and issues. The leader is the one

who is conveying each and everything to the employees as with the help of this the company

can be able it attain the things which is very necessary for it to get attain in the required and

desired manner. The planning and execution of the activities are able to get done by leaders.

He is highly responsible for making the employees to do the activities and work in the best

possible manner. As the financial crisis is having a negative impact on the business and its

employees. The leaders at this time play a vital part as the employees are motivated to put

their level best and as per their work, security and job surety is also availed by the leader to

them. Hence the leaders are having a great contribution to the financial crisis.

5.2. Impact of leadership decisions

According to
Men & Stacks (2013), decision making in the company has to be very effective
and appropriate so that it can be able to manage the uncertainty and risk factors. The

decisions of leaders made in the company are very influencing and have to be practically

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applied. The decisions are very important and leaders are having the role to make appropriate
decisions, the employees are also following the guidance of the leaders. Therefore at the time

of financial crisis the leaders' opinion and decisions act as a catalyst to run the business in the

proper and smooth manner. The management and to overcome the raised financial crisis is

only possible when the leaders of the company are making effective and appropriate

strategies for the company and to make such plans which are in the favour. There are

situations where the employees due to an unsecured position in the firm resign their profiles.

This is the more critical situation for the company as the operations will not get performed

well over to that it is also facing the financial crisis. This is the situation where the decision is

taken for the company's benefits by the leaders.

As opined by
Yukl (2012), many time situation arse where the leaders are not working
effectively as they have to. This lead to poor decisions making and it finally affect the

business operations. The financial crisis which is been faced by the company will not be able

to get managed in the proper and required manner. There are several issues and problem

which get arise due to poor decisions made by the leaders in the company. The employees of

the company will also not follow the guidance of the leaders as the person is not having the

calibre to motivate and influence the employees as per the needs and requirements.

5.3 Crisis Leadership

According to
Boin, et. al., (2013), the company has to use the strategies and tactics to
overcome the crisis which it is facing. The uncertainties are always there in an organisation;

therefore, it is very important for the company to be well prepared for the risk factors that are

taking place. It is very important for the company to use the best leadership approach which

will be having a positive and favourable outcome for the company. The crisis leadership is

one of the approaches which is very important in the company and is also one of the best

strategy used by the firm.
Crisis leadership is basically understood as the actions and steps
which is been taken by the leaders at the time of any crisis and emergency. The crisis

leadership is very important in playing its roles and responsibilities in the company to meet

the challenges and to overcome the problems that are currently faced by the firm.

In accordance with Walker, et. al., (2016), the presence of leadership approach will be

assisting and aiding the firm to meet the management and operations activities in the best

possible manner. there are several issues that are been handled and managed by the leaders

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therefore at the time of crisis the leaders should be availed with the different opportunities
and chances so that they can be able to put their efforts and can help in managing the crisis in

the needed way. The finance is very important in the company so the issues and problems

regarding this have to be managed well and for that special attention and strategies has to be

done. The management at crisis must take proper consideration about all the resources and

have to use the resources in the best possible manner as with the help of this the company can

be able to deal with the uncertainties and risk issues.

5.4 Hypothesis Development

As per the literature assessment, in this learning testing will be there in regards to the

proposed hypothesis.

Hypothesis 1
H0: There is a vital role of leadership in the financial crisis
H1: There is no role of leadership in the financial crisis

Hypothesis 2:
H0: Lack of leadership decision is the reason for the financial crisis
H1: Lack of leadership decisions is not the reason for the financial

crisis

Hypothesis 3:
H0: Financial crisis is there due to the failure of leadership
H1: Financial crisis is not there due to the failure of leadership

Hypothesis 4:
H0: There is the requirement of crisis leadership at the time of
financial crisis

H1: There is no requirement of crisis leadership at the time of

financial crisis

7

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6.0. Methodology
6.1. Research Approach and sources of data

In this study, there is the selection of the research methodology of qualitative nature. In the

projects which are in relation to research, data collection is being considered as the

significant part (
Lewis, 2015). It is very imperative to make a selection of the proper method
for the purpose of gathering data. In order to do this research in a suitable manner, firstly

there is the need to make identification regarding the influence of leadership during the

financial crisis in Sawgrass Mills. The collection of the information has been done with the

support of the various sources and channels like PDF’s, articles, journals related with the

effect of leadership on financial issues (
Mackey & Gass, 2015).
6.2. Proposed data collection and analysis techniques

Population

The target populace in regards to this study is the employees of the Sawgrass Mills in Florida.

Sampling

In this research study that is in relation to Sawgrass Mills, the sampling method for the study

is systematically sampling where the collection of the data is being done by the customers.

Variables

The main objective or aim of this research is to have an explanation in regards to the

influence of leadership at the time of financial crisis in a company. Therefore, the dependent

variable is the financial crisis and the independent variable is leadership.

6.3 Organisation of the study

The whole formation of the study will be done as follows:

Chapter 1: Research proposal as provided in the project
Chapter 2: In this, there will be a description of the impact of leadership at the time of
financial issues

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Chapter 3: This will make a presentation of the details in regards to the methodology
Chapter 4: It will make the description of the findings as well as analysis for the
research which is proposed

Chapter 5: This will make summarization of the significant findings and will also
present proper discussion.

6.4. Budget, Project Activities and Gantt chart

The financial plan in regards to the conducted investigate is $3000 so as to make completion

of the project in the time structure as given in the Gantt chart.

The specification of the budget is being done due to various reasons:

The Literature Review which is being presented here makes utilisation of journals,
online resources and textbooks. The cost of this will be around $500.

Purchasing of data from the secondary sources. The cost of it will be approx. $1500.
Analysis and structure of Data: the cost of it will be $1000
In summary,

Purpose
Estimated Amount
Literature Review
$500
Data collection
$1500
Data analysis
$1000
Total Estimated Budget
$3000
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Activities and schedule of the project:
Task Name
Start Date End Date No. of Days
Collection of data

through primary

research

04/10/2018
06/10/2018 3
Literature review
07/10/2018 08/10/2018 2
Development of

strategy

09/10/2018
10/10/2018 2
Implementation of

strategy

11/10/2018
12/10/2018 2
Analysis and Testing
13/10/2018 14/10/2018 2
Report submission
15/10/2018 15/10/2018 1
Implementation of

changes

16/10/2018
17/10/2018 2
Final report

submission

18/10/2018
18/10/2018 1
10

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Gantt chart:
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References
Bello, S. M. (2012). Impact of ethical leadership on employee job
performance.
International Journal of Business and Social Science, 3(11).
Boin, A., Kuipers, S., & Overdijk, W. (2013). Leadership in times of crisis: A
framework for assessment.
International Review of Public Administration, 18(1), 79-
91.

Goleman, D., Boyatzis, R. E., & McKee, A. (2013). Primal leadership: Unleashing
the power of emotional intelligence
. Harvard Business Press.
Hart, J. A., & Spero, J. E. (2013). The politics of international economic relations.
Routledge.

Lewis, S. (2015). Qualitative inquiry and research design: Choosing among five
approaches.
Health promotion practice, 16(4), 473-475.
Mackey, A., & Gass, S. M. (2015). Second language research: Methodology and
design
. Routledge.
Men, L. R., & Stacks, D. W. (2013). The impact of leadership style and employee
empowerment on perceived organizational reputation.
Journal of Communication
Management
, 17(2), 171-192.
Tannenbaum, R., Weschler, I., & Massarik, F. (2013). Leadership and Organization
(RLE: Organizations): A Behavioural Science Approach
. Routledge.
Timberlake, L. (2013). Africa in crisis: The causes and cures of environmental
bankruptcy
. Routledge.
Walker, Steven M.; Earnhardt, Matthew P.; Newcomer, Jason M.; Marion, James W.
Jr.; and Tomlinson, Jon C. (2016) "Crisis Leadership During the Great Recession of

2008," International Journal of Leadership and Change: Vol. 4: Iss. 1, Article 9

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Wong, C. A., & Laschinger, H. K. (2013). Authentic leadership, performance, and job
satisfaction: the mediating role of empowerment.
Journal of advanced nursing, 69(4),
947-959.

Yukl, G. (2012). Effective leadership behavior: What we know and what questions
need more attention.
Academy of Management Perspectives, 26(4), 66-85.
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