New Paradigms of Leadership and Corporate Culture in a Remote Working Environment

ABSTRACT: Events related to COVID-19 significantly affected businesses all over the world and changed companies’ working cultures. Amongst the issues that arose during the pandemic, the formation of corporate culture, team building and leadership were the most challenging. Many companies managed to adapt rapidly to the new circumstances, developing new skills and working habits, and turning the crisis into positive changes. However, this process has been extremely painful for business representatives in developing countries. COVID-19 revealed many existing problems that were not apparent before. Employees were under pressure due to the stress of job loss, wage reductions, increasing workload, and unethical attitudes from the managers. Companies in developing countries were completely unprepared for effective leadership, maintaining corporate culture and teambuilding in a remote working environment. Managers have failed to work effectively with staff. The managers’ power to lead effectively and to form values and traditions that transform individuals into one team defines the potential of the company for overcoming challenges in a remote working environment. These factors, united into one chain, reflect the elasticity and agility of the company for sustainable development. This research investigates the impact of corporate culture and leaders’ authority on the coherent work of team in a remote working environment. The ways of maintaining effective leadership and corporate culture remotely are analyzed, and relevant recommendations are suggested. KEYWORDS: remote work, corporate culture, effective leadership, crisis, sustainable development, company, digital era