LEADERSHIP AND DECISION MAKING IN CRISIS IN THE GLOBAL ERA: HOW LEADERSHIP NOWADAYS CAN ENCOURAGE THE DEVELOPMENT OF BUSINESS

Decades ago, it was considered that it was the responsibility of political leaders to deal with the big problems we encounter in our society, and not business leaders. This study aims to review literature critically on the issue of leadership in crisis in the global era by focusing on key prominent authors in the area of leadership in crisis. The study is based on a literature review. The study has shown how nowadays the issue of leadership is in a state of crisis and how this leadership issue is crucial for the development of business, especially in key industries, such as oil and gas. However, there are certain steps to be adopted by either individual level or organizational level, in dealing with the leadership crisis, such as aspiring leaders to focus on the actual benefits of leadership rather than material symbols and organizations adopting key strategic tactics, which include, among others, searching for talents and succession planning.