Luxury Goods as a Determinant of the Status of Top Managers – Perspective of the Young Generation with a High Power Distance

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Abstract
The future of business and its further development rests in the hands of the young generation, the people who will soon perform various roles in companies that are part of the business. The article presents the results of the study with the following three objectives: to explain young people's distance to the power exercised by the Chief Executive Officer (CEO); to discover the young generation’s views on the CEO displaying their high status (high position) in the company in terms of power distance; to check whether there is any correlation between the belief in the CEO exceptionality and the acceptance of luxurious determinants of the CEO status. The study, aimed at clarifying the above issues, was carried out on a group of 773 participants. According to the survey, 16.7% of survey respondents recognized the CEO as an exceptional person, 41.9% would feel intimidated when dealing with them, and 49.1% would obey the CEO and follow their instructions without questioning. People with such attitudes and views are characterized by a medium and large distance from the CEO power. The survey revealed that, among the younger generation, there are more opposing opinions than accepting the CEO displaying their status using luxury goods. The authors showed that there is no link between recognizing the CEO as a special person who deserves being admired and imitated (high power distance), and the belief that the CEO should demonstrate their high status using luxury goods.

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