Operational excellence (OpEx) through entrepreneur’s strategic business decision making and emotional contagion in the service industry

Abstract

Petroleum products play a critical role in the global industry. India is the third most significant crude oil importer in the world, of which 22% from Russia in October 2022. Emotional Contagion refers to an entrepreneur influencing the emotions and behaviours of another entrepreneur and employees in the company to achieve operational excellence. Entrepreneurs' decision-making styles vary from analytical, conceptual, directional, and behavioural to attain the corporate goal. The utilitarian theory states that entrepreneurs, as utilitarians, lead the company with a highly ethical, moral, good environment & culture and, at the same time, target for the company's profit. We have considered twenty five companies from India and the Middle East region to study Entrepreneur's strategic business decision styles and emotional Contagion. We have used a Stratified sampling technique to collect data. We have used JAMOVI for the data analysis. This paper examines entrepreneurs' strategic business decision styles and emotional Contagion toward Utilitarianism in the Oil and Gas service industry. It provides positive and negative effects for which we have recommended that the government and MSMEs must focus on providing psychological training to entrepreneurs to achieve the highest positive emotional contagion, safe and healthy organizational culture positively.