LEADERSHIP TRAITS AND THEIR IMPACT ON MARKET STRATEGIES

Sri Lanka holds a dominant position as a leading exporter of black tea. It has a reasonably diversified product line including both orthodox and CTC teas. Sri Lankan tea industry is operating in a diversified geographical market which gives it the strength to sustain future demand fluctuations. However, the global tea market is quite competitive and the demand is shifting from unbranded bulk tea to value added tea products. Sri Lanka is moving forward with value added operations and this move is initiated by the private entrepreneurs in the industry. Product innovation acts as the key to success in today's competitive markets and those firms having experience in the international markets try to gain advantage with new products and compete with the dynamic firms in the fast growing global tea market. This paper therefore attempts to study the contribution of leadership traits in formulating strategies to gain competitive advantage in value added tea marketing. The study was carried out employing qualitative case study methodology. Data were gathered mainly through personal interviews with founder entrepreneurs of nine leading value added tea export firms in Sri Lanka. After analyzing the cases there was evidence to suggest that product and process innovations have been strategically used by the entrepreneurs to gain competitive advantage. Leaders proved their ability of risk taking through self-motivated moves into value added tea marketing. Hard work, determination and perseverance were identified as important leadership traits. Commitment, enthusiasm and self-confidence were remarkable characteristics of all leaders. Their future visions and clearly set directions have contributed towards successful market strategies. Personality traits of leaders showed a positive influence on their leadership behaviour demonstrated through successful business strategies. The key areas of impact identified through the study are branding and value addition, pioneering in product and market innovations, market development and superior product development.