The Impact of Innovative Leadership on Organizational Growth in Owner-Managed Marine Service Companies Based in Cyprus

by

Acknowledgement

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

Signed __________________ Date _________________

Abstract

In this study we try to explore the concept of Innovative Leadership in a holistic context. The main focus of the research is on Innovative Leadership and how it can lead to growth an development of M.I.E Services Ltd out of crisis. The research also analyzes many aspects of Innovative Leadership and tries to gauge its importance in today's world. Finally the research describes various factors which are responsible for the failure of M.I.E. Services Ltd. The problems have been identified by interviewing owners of five marine service companies in Cyprus and the 6 members of the management. The research was done using semi-structured interviews of the owners and action research applied to the organisation. The result obtained was that the company is going through crisis because of the leadership style of the owner. The company can start growing back by implementing the concept of innovative leadership and succession planning. This will enable all the employees of the organisation to play a key role in the development of the organisation.

Table of Contents

CHAPTER 1: INTRODUCTION1

1.1 CORPORATE LIFECYCLE AND INNOVATIVE LEADERSHIP1

1.2 M.I.E SERVICES AND THE MARINE SERVICES INDUSTRY IN CYPRUS1

1.3 THEORETICAL FRAMEWORK: THE GREINER MODEL6

1.4 APPLICATIONS, IMPLICATIONS AND AIMS FOR THE ORGANISATION8

1.5 PERSONAL DEVELOPMENT8

1.6 AIMS AND OBJECTIVE OF THE RESEARCH9

1.7 RESEARCH QUESTIONS9

1.8 SIGNIFICANCE OF THE STUDY10

1.10 ETHICAL CONCERNS11

1.11 LIMITATIONS, ASSUMPTIONS AND SUGGESTION FOR FUTURE RESEARCH13

CHAPTER 2: LITERATURE REVIEW15

2.1 LEADERSHIP THEORY15

2.2 LEADERSHIP STYLES20

2.3 SUCCESSION PLANNING26

2.4 FACTOR AFFECTING CHOICE OF LEADERSHIP STYLE30

2.5 RELATIONSHIP BETWEEN LEADERSHIP AND THE TEAM PERFORMANCE32

2.6 GAUGING LEADERSHIP INTO INNOVATION34

2.7 INNOVATION THEORY39

2.8 INNOVATIVE LEADERSHIP AS A CATALYST FOR GROWTH46

2.9 THE CASE FOR ENTREPRENEUR AS AN INNOVATIVE LEADER51

2.10 THE CASE FOR MODERN MANAGER AS AN INNOVATIVE LEADER52

2.11 THE CASE FOR COMBINED ROLES IN INNOVATIVE LEADERSHIP53

CHAPTER 3: METHODOLOGY54

3.1 RESEARCH DESIGN54

3.2 RESEARCH TECHNIQUE AND PROCESS55

3.3 PROS AND CONS OF CHOSEN METHODOLOGY63

3.4 INSTRUMENT DESIGN65

3.5 PARTICIPANTS66

3.5 PILOT QUESTIONNAIRE67

CHAPTER 4: DISCUSSION AND ANALYSIS69

4.1 FINDINGS AND ANALYSIS69

CHAPTER 5: CONCLUSION77

REFERENCES80

APPENDIX93

GREINER CURVE93

Chapter 1: Introduction

1.1 Corporate lifecycle and innovative leadership

Drucker argues that innovation is a tool that entrepreneurs can use to “exploit” opportunities and change in order to create wealth then this tool is powerful enough to revolutionise businesses and guide them to future growth. In large organisations as presented by Jenkins the responsibility for innovation lies with R&D departments or as presented by Quinn innovation can be outsourced such as with CISCO systems in the 1990s to its manufacturers for joint product development. The question is, however, who should innovate in a small founder run ...