Visionary Leadership - Pikay Richardson, Manchester Business School


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Visionary Leadership - Pikay Richardson, Manchester Business School

  1. 1. Legacy & Legacy Festival of Ideas Visionary/Strategic Leadership Prof. Pikay Richardson, Visiting Senior Fellow Manchester Business School
  2. 2. Prof Pikay Richardson * Degrees in Engineering and Management. * 17 years: Snr. Fellow, Manchester Business School (now Visiting Senior Fellow). * 2 years: Professor and Academic Director, NJIT, Newark, NJ, USA. * Teaching Expertise: Economics; Strategy; OB; Leadership; Marketing; Int. Business * International experience: UK, US, France, Germany, China, India, Bangladesh, Hong Kong, Malaysia, Singapore, Dubai, Jamaica, Barbados, South Africa, Botswana, Namibia, Kenya, Nigeria and Ghana
  3. 3. Organisational Success and National Progress • Luck • Chance • Magic
  4. 4. Creating Competitive Advantage The key to CA in the 21st Century • The capacity of Leadership to create a social architecture capable of generating intellectual capital – ideas, know-how, innovation, knowledge and expertise • Aligning relevant people behind the ideas to achieve market-driven results, ie providing Strategic/Visionary Leadership
  5. 5. In Search of Excellence? The Cream of American Business 1984 43 1994 8 Today 6
  6. 6. Leadership and the Status Quo Every system is perfectly designed to get the results that it is getting today (simply put, you keep getting ….) For a different of better results, the system needs to change. This requires Leadership
  7. 7. An Environment of Fast Change • Policy Reforms, Deregulation/Liberalisation • Globalisation/RTAs • Technological developments • Industry collision • New entrants • Customer sophistication
  8. 8. Leading/Managing Organisations Successfully Today depends on: - Integration of People in a Common Venture - Setting Clear Objectives, Values and Goals - Commitment to Common Goals and Share Values - Harnessing the Skills and Knowledge of the Firm - Recognising That Success Does Not Relate Only to the Bottom Line - Recognising the Importance of all stakeholders - Creating and fostering a good Corporate Governance regime
  9. 9. …. and all this derive from.. Good or Effective Leadership
  10. 10. Good Management is No Longer Enough Leadership Skills Management Skills Hi Lo Lo Hi
  11. 11. …so then… What is Leadership???
  12. 12. What is Leadership? Leadership is a process whereby an individual influences a group of individuals to achieve a common goal. Leadership: • is a process • involves influence • occurs within a group context • involves a common goal
  13. 13. ..hence all-pervasive relevance.. • Public Leadership - National - State - Community/district levels • Corporate Leadership - CEO/MD - Sector Directors - Heads of Departments - Supervisors - Unions
  14. 14. Leadership, Power and Influence Position/Authority confers Power and Influence (Management) Leadership is an Activity (not a person) Effective Leadership may not derive from Position or Power
  15. 15. Levels of Leadership • Front-line or Team Leadership – to deal with a specific task. • Operational Leadership – to do with day-to-day operations within the organisation. • Strategic Leadership – about the big picture; process not position; and focuses on the future and orientation towards change.
  16. 16. Seven Attributes of Successful Leaders 1. Sound Ethical/Moral Compass 2. Ability to take unpleasant decisions 3. Ambition, Clarity and Focus 4. Effective Communication Skills 5. A knack for developing talent 6. Emotional self-confidence 7. Charm - charisma
  17. 17. Forces that Drive Leadership • Passion • Vision • Self-confidence • Tolerance for ambiguity and paradox • Intuition • Empathy
  18. 18. …semantics???… How Does this Differ from Management?
  19. 19. Management v/s Leadership Management is about what “Authority” demands, ie involves “Meeting Expectations”, - Direction - Protection - Order It may have nothing to do with Leadership, and is fairly easy to accomplish, and we can be so good at it.
  20. 20. Functions of Management Planning Select goals and ways to obtain them Directing Motivate and coordinate employees Staffing Recruit and obtain employees Controlling Monitor activities and make corrections Organising Assign authority and responsibility for task accomplishment
  21. 21. Leadership v/s Management Leadership involves Change, and is about “Challenging Expectations”, different things - Observation - Interpretation - Intervention, It is about thinking “out of the box”, moving out of the “status quo”, doing something different. This can disappoint, hurt, even be risky and dangerous, eg, attacking Corruption, dealing with expired drugs etc (Jesus, Ghandi, Mandela, Luther King, Welch, etc)
  22. 22. Management is NOT Leadership Management • Planning/Budgeting • Organising/Staffing • Controlling/Problem Solving Leadership • Vision building/Strategising • Aligning People/Communicati ng • Motivating/Inspiring
  23. 23. Leaders and Managers Managers manage Structures/Things Leaders lead People Managers do Things Right Leaders do the Right Things
  24. 24. Leadership Context and Styles • Charismatic Leadership • Transactional Leadership • Strategic, Visionary or Transformational Leadership
  25. 25. Corporate Leadership at the Top Corporate Direction - Vision (Mission) - Objectives - Strategy - Design of appropriate structures - Alignment of people
  26. 26. …hence….. Visionary or Strategic Leadership “the development of vision and strategies, the alignment of relevant people behind those strategies, and the empowerment of individuals to make the vision happen despite obstacles” - Kotter
  27. 27. Strategic Leaders Strategic or Visionary Leaders – those able to Think Strategically, envision a better future, develop strategies to match and align people behind to achieve the vision.
  28. 28. What is Vision? Vision is an attractive future idea that is credible yet not readily attainable. It is an ambitious view of the future that everyone in the organisation can believe in; one that can realistically be achieved, yet offers a future that is better than what now exists.
  29. 29. The Nature of the Vision Source: Based on Willian D. Hitt, The Leader-Manager, Guidelines for Action (Colombus, OH: Battelle Press, 1988) Vision Current reality Staying the course Moving toward a desired future
  30. 30. What Vision Does 1. Vision links the Present to the Future 2. Vision energises people and gains commitment 3. Vision gives meaning to work 4. Vision establishes a standard of excellence
  31. 31. Strategic Leaders Hall of Fame • Sir Ian Flanagan and Emirates Airlines • Sam Walton and Wal Mart • Steve Jobs and Apple Ipod, Ipad • Jorma Ollila and Nokia • Bill Gates and Microsoft • Lee Kuan Yew of Singapore
  32. 32. Lee Kuan Yew and Singapore • Three main concerns – National security – Economic development – Social issues and harmony Results: pc Income 1960 1995 2003 Nigeria 329 355 461 SA 1800 2100 3230 India 206 425 559 Singapore 405 21000 28000
  33. 33. Becoming a Strategic Leader • General intelligence • Technical or professional knowledge and competence • Personality • Ability to inspire • Listening, sharing and delegating skills • Self-knowledge • Ability to think strategically
  34. 34. The Leaders’ Contribution – Set the Agenda for Progress Leaders are dealers in hope – Napoleon Where there is no hope in the future, there is no power in the present. Life without Vision is hopeless; Vision without action is empty; action guided by Vision is joy and the hope of the earth. Leaders establish direction by carving a Vision and formulating Strategies and aligning people to achieve the Vision