Study: Romanian company leaders fear globalization, blame lack of efficiency on tough economy

Around half Romanian -owned company leaders think globalization will have a negative impact on their business in 2012, while among leaders of foreign companies, only 22 percent think globalization will cause harm, according to a recent study by local company Solutii Avansate and Griffiths School of Management.

Three quarters of company managers in Romania blame it on the difficult economic circumstances, when talking about obstacles in the way of their efficiency as leaders, while over 60 percent are worried about the instability of the judicial and political environment, the study further shows. The leadership barometer, which includes answers from 145 business leaders in Romania, also highlights the indicators used for measuring company performance this year. The improvement of the company's main financial indicators was the main feature, followed by key areas for the future: internal organization, development of employees and customer relations. Company leaders believe the leadership qualities needed in the new economic realities are collaborative leadership – 77 percent of responses, and focusing on developing leaders from within the organization. “Under the new reality, the challenge is not to get a leadership position, but rather to keep it and justify it in the eyes of followers. Power, the traditional instrument used by leaders, is outdated and even rejected, being replaced by influence and character. […] Self development will become first priority for a leader,” says Sebastian Văduva, dean of the Griffiths Management Faculty. The 145 leaders questioned in the survey represent companies with an accumulated turnover of over EUR 12 billion. A third of them are CEOs and the rest have various management positions in companies. Half of the respondents come from Top 300 companies in Romania. editor@romania-insider.com (photo source: sxc.hu)