Identifying leadership skills and developing them is possibly the one great focus of most business enterprises and organisations these days. Most economies are undergoing a massive transformation and empowering leaders are playing increasingly important roles in the sustainability, growth, and success of corporations and business organisations. There is, however, much more to leadership than merely making the fiscal benchmarks.
A finance leader brings together individuals passionate about changing the business and social landscape through their work and binds them into a team by dint of his/her zeal and commitment. In this sense, thought leadership is the very foundation of social and corporate change.
Above and beyond
The COVID-19 pandemic has brought about a great deal of loss. Health, lives, and livelihoods have been lost across the globe but the one positive outcome of this crisis has been that we have all refocused our priorities. As individuals, we have learned to focus on our health and families while business entities such as small and large corporations have started to evaluate leadership skills on the basis of empathy, compassion, strength, resilience, and commitment.
These difficult times have shown us our true heroes and well-known corporate heads such as Mukesh Ambani and Sanjiv Bajaj have built a leadership legacy by helping out local communities with food and medical supplies. Going above and beyond their job profiles, we have come to see our corporate leaders as pillars of society.
Let’s talk sustainability
One of the greatest challenges that we as a race are now facing is climate change and the depletion of natural resources. Technology and development can no longer be measured by today’s success. There is, in this case, an increased responsibility on the shoulders of our thought leaders to ensure that businesses are conducted with environmental protection safeguards in place. Values-based leadership is now being adopted across the world precisely because it looks at the sustainability factor rather than indiscriminately pursuing fiscal gains.
Corporations, business entities, and enterprises cannot remain detached from the development of the community in which they are rooted. This is something that business leaders now understand. Developing an enterprise takes a lot of input from the local community. This means that developing the vocational skills of the community can positively impact the business. Hiring local talent also enriches the social understanding and impact on the business. Empowering leadership contribute much towards community development and this always brings great benefit to the organisation as well.
The founding philosophy or basic values of any organisation are always set by the leaders and management of the business venture. It falls upon thought leaders to establish a culture where individuals are supported through challenges and success stories are celebrated across various levels. A culture of 360-degree feedback and welcoming ideas for innovations and improvements from all stakeholders is another culture that a leader can establish in a company. This is likely to have a wider impact and could also bring about a change in industry standards.
The impact that corporate leaders can have is not limited to their business organisations alone. We have seen some of the greatest Indian business entrepreneurs help bring India to the center stage in the world economy. Many of them went on to build large conglomerates but were also well-known philanthropists. The social transformation that business and thought leaders can help accelerate is significant, particularly as we emerge from the pandemic and start to evaluate life with different standards.
Thought leaders are those who bring about a great deal of transformation through their ideas. A close study of the visionary corporate leaders of India, both from the past and from contemporary times, shows us that thought leaders can leave a lasting impact. This impact affects a positive change in their business enterprises and has far-reaching social implications as well.