The recent global economic crisis is an example of leadership failure. The US sub-prime crisis and the subsequent global financial meltdown exposed not only the gaps and weaknesses in the supervision and regulation of financial institutions, but also the bankruptcy of Western leadership principles that emphasized short-term gains at the expense of long-term value.
There is a global leadership vacuum, which Asia can do a lot to fill. Meet the new face of capitalism, which combines the best from both Western and Asian practices and which unifies individual performance with the long-term good of the team, company and society.
Hay Group’s research shows that Indian CEOs are excellent at managing the complex web of external relations, especially with the govern- ment and media, which is crucial to the success of business in India. A Hay Group study of successful top CEOs in India and China uncovered the unique skills that they have developed to manage the unique business situation that they confront. Hay Group’s research shows that Indian CEOs are excellent at managing the complex web of external relations, especially with the govern- ment and media, which is crucial to the success of business in India.
In China, where regulations are often uncertain & conflicting, leaders were found to rely on personal relationships & networking for success, rather than the terms and conditions found in legal contracts. this is often the point of culture shock for many Western executives transplanted into China, where relationships seem to count for more than legalese.
The New face of Capitalism, which blends values from different cultural and socio-political back-grounds, demands a different level of competencies among leaders who desire to be globally effective.