Leadership in a Turnaround Situation and a Multicultural Environment
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Authors
Gibson, Lloyd G.
Gibson, Regina A.
Issue Date
2016-04-01
Type
Presentation
Language
en_US
Keywords
Leadership style , Multicultural environment , Turnaround situation
Alternative Title
Abstract
Leadership style in a turnaround situation, especially in a multicultural environment, is very important to the success of the organization. As the organization is transformed to a successful one, the leader may have to adapt his or her style. This case focuses on the leadership of a new CEO recruited to overcome a crisis situation in a small community bank. The CEO also faced the additional challenges of being from a different culture than most of his employees and of interacting with the founder and previous CEO who had quite a different leadership style. In the process of turning the bank around and implementing a new strategy, the new CEO also transformed his leadership style in order to reduce anxiety and gain the respect and confidence of the employees, the board of directors, and the community.