




































AGORA International Journal of Economical Sciences, http://univagora.ro/jour/index.php/aijes 

ISSN 2067-3310, E-ISSN 2067-7669 

Vol. 19, No. 1 (2025), pp. 254-262 

 

254 

 

KNOWLEDGE-BASED LEADERSHIP AS A KEY FACTOR IN 

BUSINESS SUCCESS – CASE STUDY OF MONTENEGRO 

 

G. NIKČEVIĆ, Đ. PAVIĆEVIĆ 

 

Gordana Nikčević¹, Đorđije Pavićević² 

¹ ² University Adriatic Bar, Montenegro 

¹ https://orcid.org/0000-0002-9804-6917, E-mail: gogan@t-com.me  

² https://orcid.org/0000-0002-9484-3361, E-mail: djpavicevic3@gmail.com  

 

Abstract: In the contemporary globalized environment, effective leadership becomes a 

crucial factor for managing change and achieving sustainable business success. Leaders, 

through their knowledge, skills, and ability to manage knowledge, have a key role in shaping 

organizations that successfully adapt to dynamic market conditions. Continuous learning and 

application of knowledge enable leaders to respond to complex challenges of modern business. 

The aim of this research is to examine how leading principles, observed through knowledge 

management, influence the education of leaders in Montenegro and their readiness to face 

global challenges, as well as their contribution to achieving business success. The results 

indicate that leaders in Montenegro possess significant developmental potential, but also that, 

in addition, there is room for improvement, especially in the areas of leadership styles, 

knowledge sharing, readiness to take risks, and digital transformation. As directions for 

improvement, the need for adapting leadership to specific situations, greater openness and 

transparency, encouraging innovative thinking, development of multicultural competencies, 

and focus on international cooperation stand out. 

Keywords: leadership, knowledge, globalization, transformational leadership, education 

 

INTRODUCTION 

The contemporary business environment is characterized by accelerated technological 

development, omnipresent globalization, and growing complexity of market relations. In such 

an environment, leadership no longer implies only management of people, but requires 

strategic thinking, the ability of rapid adaptation, and decision-making based on knowledge. 

Leaders are expected to encourage innovations, develop flexible organizational structures, and 

effectively manage diverse teams. 

However, although leaders in Montenegro show certain potential, the question arises 

whether they possess adequate competencies for successfully facing contemporary challenges. 

Although certain efforts in the direction of leadership development have been observed, there 

are significant discrepancies between current practices and the needs of the global market. This 

creates room for critical re-examination of existing approaches to leadership and emphasizes 

the importance of their adaptation to dynamic changes in the business environment. 

Therefore, this research focuses on examining the role of knowledge management in 

the education and practice of leaders, with special emphasis on how through these processes 

their ability can be improved to act in a contemporary, competitive and dynamic business 

https://orcid.org/0000-0002-9804-6917
mailto:gogan@t-com.me
https://orcid.org/0000-0002-9484-3361
mailto:djpavicevic3@gmail.com


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environment. Also, the aim of the research is the identification of key areas in which it is 

possible to improve leadership practices, so that leaders become carriers of development and 

business success. 

 

1. Leadership and modern tendencies 

Defining leadership is a challenging assignment since each era brings specific demands 

and shapes the characteristics of leaders in accordance with social, economic and technological 

changes. Leadership can be viewed through different theoretical and practical approaches, 

which has led to a multitude of definitions and understandings of this concept. According to 

Stoner and Freeman (2018), leadership is the process of directing the activities of group 

members towards achieving common goals. This process involves the application of various 

forms of influence and is based on the interaction of leaders and group members (Yukl, 2012). 

Similarly, Northouse (2018) defines leadership as a process in which an individual exerts 

influence on a group in order to achieve clearly defined goals, while Singh et al. (2023) 

emphasizes that leadership includes processes by which organizations are shaped and adapted 

to changing circumstances, defining a vision of the future and directing individuals towards its 

realization. Regardless of the different approaches, the common basis of leadership definitions 

is that it is understood as a process of mutual influence between leaders and followers within a 

group that has a clearly defined goal. Leadership is,therefore, based on interaction that enables 

not only the achievement of goals, but also the continuous adaptation and improvement of 

organizational capacities (Northouse, 2018; Boeske,2023). 

Modern tendencies of leadership are noticeable in business and social environment to 

which transformational leadership takes center stage. This approach implies inspiring and 

motivating employees through clear vision of innovative strategy and personal example of a 

leader (Greimel et al., 2023; Stone; Patterson, 2023). In addition, the concept of servant 

leadership is gaining ground importance, because it focuses on the needs of employees and 

their professional development, while leaders assume the role of support and guide (Benmira; 

Agboola, 2021; Claro; Silva,2025). 

In a dynamic business environment, agile leadership is becoming essential, enabling 

leaders to manage change effectively, make quick decisions, and adapt strategies to keep 

organizations competitive. Digital transformation further redefines paradigm leadership, 

emphasizing the need for digital skills, innovation and technology understanding that leaders 

must possess in order to improve business processes and lead teams through technological 

changes (Delıoğlu & Uysal, 2022; Skare & Soriano, 2021). 

At the same time, the leader's role of creating sustainable organizations is becoming 

increasingly evident. Modern leadership involves responsible management, balancing 

economic goals with social and environmental aspects of business. Alongside that, 

globalization increases the importance of leaders who are capable to successfully lead 

multicultural teams, understanding differences in values, norms and practices (Perez, 2017). 

Key characteristics of modern leaders include flexibility, creativity, emotional 

intelligence, strategic thinking and open mind for innovations. According to Farrel (2017), 

leaders not only need to cherish creativity and support technological innovations, but also to 



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create an environment conducive to continuous learning and employee development. 

Successful leaders steer the organization towards sustainable goals, while developing the 

capabilities of their teams to face the challenges of the modern business world. Finally, 

leadership is increasingly defined as a key factor in knowledge management. Leaders are 

responsible for creating, transferring and applying knowledge in the organization, thereby 

ensuring its long-term competitiveness and success. This requires constant adaptation, 

innovation and reliance on teamwork, which makes leadership a central element in the 

development of modern organizations (Pellegrini et al., 2020). 

 

2. Knowledge as key resource modern organization   

Unlike the traditional economy, which relied on physical resources, modern 

organizations are based on the creation, sharing and application of knowledge as the main 

driver of development. In a globalized business environment, an organization's ability to 

effectively manage knowledge can be crucial for its survival and growth, as it enables rapid 

adaptation to change, increases innovation and strengthens its competitive position 

(Chaithanapat et al., 2022).  

Knowledge in organizations is divided into explicit and implicit. Explicit knowledge is 

formalized, easily transferable and can be documented through procedures, databases and other 

records, while implicit knowledge is linked to the experiences, skills and intuition of 

employees. Although explicit knowledge enables process standardization and increases 

operational efficiency, it is precisely implicit knowledge that forms the basis of organizational 

intelligence, as it contributes to creativity and decision-making in complex situations. Its 

informal nature poses a challenge in identification and transfer, but at the same time allows 

organizations to develop flexibility and resilience to change (Ellis & Roever, 2021). 

One of the key characteristics of knowledge, which distinguishes it from physical 

resources, is its ability not to be consumed by use, but to create additional value through 

dissemination and application. Its development depends on research, innovation and collective 

experiences of employees where knowledge is not only accumulated passively but is actively 

shaped through interaction and exchange of ideas. Since it is inextricably linked to human 

capital, its effective application depends on the degree of competence, creativity and 

engagement of employees. Organizations with highly qualified personnel not only adopt and 

adapt knowledge faster, but also more easily transform information into strategic resources that 

provide them with long-term market advantage (Haider et al., 2022). 

Modern organizations must develop systematic knowledge management strategies that 

enable its effective integration into business processes. In this context, knowledge management 

is not only a technical challenge, but also an organizational and cultural process, which requires 

continuous collaboration, open communication and the creation of a supportive environment 

in which the contribution of each individual is recognized and valued. Organizations that 

successfully integrate knowledge into their business models not only improve operational 

efficiency, but also foster innovation, increase agility and build long-term sustainable business 

systems. 

 

3. Synergy of knowledge and leadership in the context of globalization 



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Globalization, as a process of accelerated linking of markets, people and information, 

has created a new business environment in which competition, innovation and technological 

progress are constant factors shaping the market. In this context, the synergy between 

knowledge and leadership becomes a key factor for achieving long-term success. Leaders who 

understand the strategic importance of knowledge can enable organizations to quickly adapt to 

the dynamic changes brought about by globalization (Claro & Silva, 2025; Born et al., 2025; 

Jensen, 2024). 

Unlike earlier management concepts, where knowledge was treated as a technical 

resource, today it is increasingly viewed as a strategic tool for decision-making and recognition 

of market opportunities. Organizations that successfully manage knowledge not only achieve 

greater flexibility but also ensure sustainable competitive advantage through innovation. On 

the other hand, organizations that neglect the development of strategies for adequate knowledge 

management face stagnation and loss of market position (Rupčić, 2024; Nonaka, 2009).  

In such an environment, leaders not only manage organizations, but also shape a 

working atmosphere that encourages the development, sharing and application of knowledge. 

Their role is no longer just setting goals and monitoring performance - leaders today must 

inspire, motivate and direct teams, and encourage an open exchange of ideas. In a globalized 

business environment, intercultural competencies of leaders become crucial for the successful 

management of teams that operate in different cultural and economic contexts (Hanson et al., 

2021; Carreño, 2024; Bilderback & Thompson, 2025). Therefore, the synergy of knowledge 

and leadership is the basis for building competitive and flexible organizations that can cope 

with the challenges of globalization. Effective knowledge management, combined with the 

ability of leaders to guide and inspire teams, enables organizations to not only survive, but also 

thrive in complex market conditions. To achieve long-term sustainability, organizations must 

continuously invest in the development of leaders and intellectual resources, thus securing their 

position in the global market. 

 

4. Leadership approach to global challenges: the example of montenegro research 

methodology  

The research was conducted between January and March 2025, on a sample of 100 

respondents employed in various organizations in Montenegro. The sample includes 

employees of different age groups, educational profiles, job roles and genders, which allows 

for a representative sample for the analysis of leadership and its role in the development and 

application of knowledge within organizations. Given the importance of knowledge in today's 

business environment, the research focuses on how leaders manage, share and use knowledge 

to respond to the challenges of globalization and improve the competitiveness of organizations.  

The respondents were selected using a random sample method, allowing for the 

representation of employees from different sectors. The industries covered by the research 

include agriculture, tourism, manufacturing and services, and the research focuses on how 

leaders in these sectors develop strategies for the transfer and use of knowledge in order to 

adapt to global trends and technological innovations. Respondents participated in surveys that 

covered key aspects of leadership, including: 



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● Democratic and authoritarian leadership styles and their ability to encourage knowledge 

exchange and development within organizations. 

● The impact of leaders on innovation and employee motivation through strategies that 

incorporate knowledge as a key resource for success. 

● Attitudes toward change readiness, where leaders use knowledge to help organizations 

adapt to new challenges. 

● Managing global challenges through strategies that leverage global knowledge and 

technological innovations. 

● Digital transformation as a key element in integrating new knowledge into business 

processes. 

● Competitiveness in the global market, based on leaders' ability to optimize knowledge 

utilization within the organization. 

Thematic analysis was used as a method for data analysis, as it allows identification of 

key themes and forms in the respondents' responses, with a particular emphasis on how leaders 

in Montenegro manage and develop knowledge within their organizations. This approach 

allows for a deeper understanding of how leaders shape organizations and how their ability to 

develop and apply knowledge affects the competitiveness and sustainability of organizations 

in a globalized business environment. 

 

4.1. Results 

The understanding of leadership throughout history has varied; in the past, it was 

believed that leaders are born, while today the prevailing view is that leadership depends on 

the development of skills through education and experience. Leaders develop through a 

continuous process of learning, training and experience (Jago, 1982; Northouse, 2025). 

 

      Table 1. Analysis of Leadership in Montenegro 

  
Key Aspects of Leadership in Montenegro 

Arithmetic Mean 

(%) 

  Leader's ability to solve problems   80 

  Leader's willingness to share knowledge with employees   50 

  Leader's responsibility for the organization's success   88 

  Role of the leader in organizational changes   89 

  Creation of knowledge within the organization   91 

  Communication with employees   76 

  Commitment to employee motivation and satisfaction   89 

  Managing different cultures   78 

  Monitoring global trends   65 

  Willingness to take risks   56 

  Recognizing the importance of digital transformation   68 

  Developing cooperation with international partners   74 

  Encouraging innovative thinking   60 

 

Source: Own research 

 



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4.2. Discussion 

The majority of respondents (80%) consider that a leader should be democratically 

oriented, which means that most people value openness and inclusiveness in leadership. 

However, 20% of respondents consider that a leader should be authoritarian, which indicates 

divided opinions about the leadership style. When it comes to knowledge sharing, 48% of 

respondents consider that the leader shares their knowledge with employees, while 52% of 

respondents consider that this is not the case. This may indicate the need for improvement in 

the area of communication and exchange of information between leaders and employees. 

In terms of responsibility, 88% of respondents believe that the leader should be 

responsible for the success of the organization, which includes problem-solving and making 

key decisions. Similarly, 89% of respondents consider that the leader should be a carrier of 

change, because leadership largely implies the ability of the organization to adapt and develop. 

When it comes to knowledge creation, 91% of respondents believe that the leader plays a key 

role in this process, which is especially important for organizations that strive for innovations 

and continuous learning. Similarly, 76% of respondents consider that the leader should spend 

most of the time in communication with employees, because this enables better understanding 

and effective management of the organization. 

Employee motivation and satisfaction also stand out as key factors for success, with 

89% of respondents who consider that the leader should be dedicated to this. This is in 

accordance with modern approaches to leadership that recognize the importance of emotional 

intelligence and a positive work atmosphere. 

In relation to the specific characteristics of leaders in Montenegro, 78% of respondents 

consider that leaders do not have sufficiently developed multicultural competencies, which 

indicates room for improvement of skills in this area. Also, 65% of respondents recognize the 

importance of global trends, but state limitations in the implementation of these trends in 

organizations. 68% of respondents consider that leaders in Montenegro recognize the 

importance of digital transformation, but there are challenges in the full application of these 

changes.  Readiness for risk is somewhat lower, with 56% of respondents who consider that 

leaders are somewhat ready to take risks. This may indicate caution and a desire for stability, 

but it may also represent an obstacle for rapid adaptation and innovations. In terms of 

cooperation with international partners, 74% of respondents consider that leaders in 

Montenegro develop cooperation with foreign partners, but there is room for strengthening 

international networks and improving cooperation. Innovative thinking is also gradually 

developing, with 60% of respondents who consider that leaders are beginning to develop 

innovative approaches. 

 Previous research, including the works of Janićijević (2019), Nikčević (2016, 2023, 

2024), indicate the presence of similar challenges in the domain of leadership in Montenegro. 

Related conclusions are also found in international studies, such as those conducted by 

Northouse (2018), Boeske (2023), Anderson & Crutcher (2023), Ishchuk (2024), Batsenko & 

Halenin (2024), where limited readiness of leaders to take risks is identified, as well as slow 

implementation of digital innovations in leadership practice. 



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Based on the results of the survey, several paradoxical situations are observed that 

reflect contradictory aspects of leadership in organizations in Montenegro. Although 80% of 

respondents consider their leader democratic, 20% see them as authoritarian. This indicates the 

existence of a mixed leadership style, which may cause confusion among employees, because 

some prefer participation, while others expect quick and clear decisions in crisis situations. The 

majority of respondents consider that the leader should be responsible for the success of the 

organization, but only 48% consider that the leader shares their knowledge with employees. 

This discrepancy may reduce the efficiency of the organization, because key information does 

not reach all members of the team, which may limit the growth of employees. Although 56% 

of respondents consider that leaders in Montenegro have moderate readiness for risk, there is a 

strong need for security and stability in organizations. Excessive security may limit 

innovations, because leaders, although they recognize the need for risk, avoid making decisive 

and strategically bold decisions that could accelerate progress. Although 60% of respondents 

consider that leaders are beginning to develop innovative approaches, there still exists 

significant resistance to new ideas, because organizational culture and traditional business 

practices favor old methods. This conflict between innovation and tradition may complicate 

the implementation of changes. 

Finally, although 76% of respondents consider that communication with employees is 

key, digital transformation may create barriers in personal interactions. Balancing effective use 

of technology with the need for personal communication becomes a challenge for the leader, 

because excessive digitalization may reduce trust among employees and negatively affect 

organizational culture. 

 The obtained research results indicate that leaders in Montenegro possess significant 

potential for further development, but also that there are aspects of leadership that require 

additional improvement. If organizations are to become more competitive and ready for 

contemporary global challenges, it is necessary to invest additional efforts in the education of 

leaders and the application of modern business practices. In this context, adaptation of 

leadership styles is particularly important — leaders should skillfully balance between the 

democratic approach, which encourages inclusion and engagement of employees, and the 

authoritarian approach, which can be effective in situations that require quick decision-making. 

Also, it is necessary to strengthen the culture of knowledge sharing within the organization, 

because transparency in this regard not only contributes to the development of employees but 

also enables faster and more efficient response to market changes. 

In addition, the results indicate the need for greater assumption of responsibility by 

leaders, as well as for improvement of communication with employees. This contributes to the 

creation of a positive organizational climate, greater trust, and more efficient decision-making. 

 In the contemporary business environment, additional attention must be devoted to the 

development of multicultural competencies, so that leaders are prepared to work in diverse 

teams and cooperate at the international level. Furthermore, leaders should encourage 

innovations and develop greater readiness for taking thoughtful risks, because precisely these 

qualities are key for dynamic and competitive business operations. In parallel with this, digital 

transformation imposes itself as an unavoidable step — leaders should lead the processes of 

introducing digital solutions so that organizations keep pace with contemporary trends. Finally, 



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the results emphasize the importance of developing international business relations, which can 

contribute to long-term stability and growth of organizations. 

Taking into account all the above, it is clear that by strengthening the competencies of 

leaders and improving key areas of leadership, it is possible to significantly contribute to the 

development of modern and competitive organizations in Montenegro. 

 

5. CONCLUSIONS  

Leadership in the modern business environment represents key strength that enables 

organizations to respond to challenges of globalization. In a world that is everyday more and 

more connected, leaders must pay attention to understand the complexity of the global market, 

cultural differences and economic turbulence. Their capability to develop strategies that 

balances innovation, sustainability, and cultural adaptability becomes critical to success. 

Effective leaders not only steer organizations toward growth but also inspire teams to adapt to 

dynamic circumstances and recognize new opportunities. In that sense leadership is more than 

usual management – that is strategic response to global challenges, shaping the future of an 

organization and enabling it to survive and progress in an increasingly competitive global 

environment. This approach enables leaders to create long-term competitive advantages, 

making leadership not only a means of management, but also a key factor in sustainable 

business success.  

 

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