APPLICABILITY OF CLASSICAL DECISION-MAKING STYLES IN MODERN SOCIETIES: FIVE LEADERS THEORY FROM PERSPECTIVE

As the global society continues to move toward a knowledge-based economy, successful political economies are required to evolve and adapt not only to contemporary markets but also to the changing wants and needs of their citizens. Successful nations are those that the citizenry feel happy and peaceful in the current status quo while engaging in their day?to-day business. Successful economies do not rely on any external, predictable, natural or traditional events, but are rather seen as outcomes of strategic and consciously made decisions arousing from leadership thinking.