Maja Popović
Faculty of Economics and Engineering Management Novi Sad, Republic of Serbia
Tatjana Vučurević
Faculty of Economics and Engineering Management Novi Sad, Republic of Serbia
Sandra Brkanlić
Faculty of Economics and Engineering Management Novi Sad, Republic of Serbia
Lazar Ožegović
Faculty of Economics and Engineering Management Novi Sad, Republic of Serbia
Abstract
Current business trends, global economic crisis and transition require adaptation to changes and flexibility in business policy of the company. We are faced with the globalization and transition of global market, the appearance of new competition that brings threat, but also new opportunities for the company. One of the contemporary approaches to leadership is transformational, which in contrast to transactional leadership has the ability to, in several phases, design and implement the course of innovation necessary for the development and recuperation of the company. Transformational leaders are a part of a new paradigm in scientific and expert circles, where emphasis is on elements such as charisma and feelings, and therefore, they play a dual role. Firstly, they influence on individuals by inspiring and motivating them to perform their jobs efficiently; secondly, they influence organizational culture. The aim of this paper is to explain the advantages and characteristics of transformational leadership, so that it can be recognized and used in critical and transitional conditions of business.
Key words: Human resources management, Leadership, Transformational leadership, Crisis management, Transition
JEL classification: J28, M54
