Don: Be prepared for volatile trends as well
KUALA LUMPUR: Against a backdrop of uncertainties, leaders in the financial sector must prepare people for the volatile trends, not just upward trajectories.
“Do not be hostage to the fear, uncertainty and change, but anticipate, as best as you can, as there are always unexpected events,” said Professor George Kohlrieser, who is professor of leadership and organisational behaviour at the IMD business school in Lausanne, Switzerland, yesterday.
Resilience and the ability to bounce back is important for any leadership and that includes going beyond risk-taking and being willing to engage in pain and conflicts.
He admitted that many political leaders’ mindsets have spilled over to the business world.
A lot of people have been left out of the benefits, but there is a large group that feels left out, which has led to political swings to the right, based more on grief than the belief of the ideology.
“Political leaders have to focus on including people and spread the wealth, and give opportunities, for example in education, particularly in vocational training and apprentice training,” he said.
Trust is fundamental, and research globally shows that it is one of the most “lost commodity”. It affects not only political leaders but also organisations and the education system.
“Many jobs are unfulfilled because people are not trained and leaders are not leading the way they should.”
Kohlrieser, who is author of the best-selling book “Hostage at the Table: How Leaders Can Overcome Conflict, Influence Others, and R a i s e P e r f o rmance”, explained that being held hostage meant that the persons are feeling victimised, powerless and not having access to opportunities.
In the current environment filled with disruptors like Uber and Amazon, it is important to m a i n t a i n e ntrepreneurship and to “keep reinventing yourself and capitalise on your future knowledge”, he added.
Getting insights into customers is the name of the marketing rule today unlike the past when all products were markets regardless of whether they were needed or not.
Mahindra of India is using the insights strategy to sell tractors to farmers.
“Don’t get caught off guard. It is important to build relationships with the consumers and understand their changing needs.”
In his talk on “High Performance Leadership in Times of Changes and Uncertainty” at the Securities Commission yesterday, Kolhrieser stressed on the importance of perception.
He warned that those who were over focused on the benefits of success or meeting key performance indicators would lose the joy of learning. Rupa Damodaran
Professor George Kohlrieser