BUSN20016 Research Project: Leadership Impact on Financial Crisis

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This project examines the impact of leadership on companies during financial crises, using Sawgrass Mills in Florida as a case study. It explores the significance of leadership, its influence during financial crises, and the role of crisis leadership. The research questions focus on understanding leadership's contribution to overcoming financial challenges. The project includes a conceptual framework, hypothesis development, and a methodology section outlining the research approach, data collection, and analysis techniques. Hypotheses are formulated to test the role of leadership and the impact of leadership decisions during financial crises, contributing to academic knowledge and providing insights for learners. The project also includes a budget and Gantt chart for effective management.

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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
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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
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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 with 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
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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
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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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