Startup executives noted that innovation and cost containment were
necessary practices and little change was required during an economic downturn.
Established organizations reported a lack of leadership training, preparation, and
execution with both innovation and cost controls. Definitive leadership traits identified
in the study were cross-functional skills and knowledge, participatory leadership, and
employee empowerment. The results validated that a balance of innovation and cost
controls is necessary in a recession but effective leaders practice both under any
conditions.