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Legacy & Legacy Open Lecture
Unleashing the New
African Corporate
Leader
Prof Pikay Richardson,
Visiting Senior Fellow
Man...
Prof Pikay Richardson
* Degrees in Engineering and Management.
* 17 years: Snr. Fellow, Manchester Business School
(now Vi...
Thesis for Today
For the 21st Century, Good Management is
No Longer Enough.
And those who have no Leadership Skills,
or ha...
…notice that there was an Old
Order…
the Old Order – the post-war period to
1975 characterised by
- environmental stabilit...
…but then as “In Search of Excellence”
• 1984: 43
• 1994: 8
• Today: 6
Corporate Failures or Insignificance
• Hoover
• Compaq
• Woolworths
• Pan Am
• IBM PC
• Xerox
• Eastman Kodak
…due to Fast Pace of Change..
• Policy Reforms, Deregulation/Liberalisation
• Globalisation - TRIAD
• Technological develo...
…the Old Order giveth way to a New…
the New Order – post 1975/80 of fast
Change
- many corporate failures
- impermanence o...
What has Fast Change led to??
The relative importance of Management and
Leadership changed
And the crucial need for Effect...
The 21st Century Way to Success
Today’s organisations must focus on
• achieving optimal productivity through its
people
• ...
..hence Good Management is No
Longer Enough…
Leadership
Skills
Management Skills
Hi
Lo
Lo
Hi
Definition of Leadership
Leadership is a process whereby an individual
influences a group of individuals to achieve a
comm...
Leadership, Power and Influence
Position/Authority confers Power and
Influence (Management)
Leadership is an Activity (not...
Effective Leadership in Organisations
Effective leadership is
“the development of vision and strategies,
the alignment of ...
Leadership and the Status Quo
Every system is perfectly designed to get the
results that it is getting today (you keep get...
Attributes of Effective Leaders
Ability to
• set Direction – mission-vision-goals
• formulate Strategy – “how to”
• mobili...
Effective Leaders have Essential
Competences
• They are able to engage others by creating a shared
meaning – they have a v...
Forces that Drive Leadership
• Passion
• Vision
• Self-confidence
• Tolerance for ambiguity and paradox
• Intuition
• Empa...
Management v/s Leadership
Management is about what “Authority”
demands, ie involves “Meeting
Expectations”,
- Direction
- ...
Leadership v/s Management
Leadership involves Change, and is about
“Challenging Expectations” (disappoint, hurt)
- Observa...
Leadership v/s Management
Managers do Things Right
Leaders do the Right Things
Managers manage Structures/ Things
Leaders ...
Who is a Leader?
• Anybody can be learn to be a Leader
• Leadership does not depend on Power or
Position
• We can all lear...
Leadership occurs in Context
• Leadership involves a situation requiring
change and people who are willing to make
that ch...
Personality and Leadership Styles
• Charismatic Leadership
• Transactional Leadership
• Transformational, Visionary or Str...
Strategic Leadership
“the development of vision and strategies, the
alignment of relevant people behind those
strategies, ...
Becoming a Strategic Leader
• General intelligence
• Technical or professional knowledge and
competence
• Personality
• Ab...
Improving Your Leadership Skills
What does it take to be a Leader?
• Personal ambition
• Intelligence/competence
• Ability...
Trust and Integrity– 4 Ingredients leaders
have to generate and sustain
• Constancy – stay on course
• Congruity – walk th...
Next generation of leaders
• Broad education
• Boundless curiosity and enthusiasm
• Contagious optimism
• Belief in people...
The 21st Century CEO’s Dream
A company that
• does the Right Things
• is customer-focussed
• has a competitor understandin...
Thank You
Email:pikayrichardson@yahoo.com
Email:pikay.richardson@mbs.ac.uk
Leadership Theories
Effective Leaders: Born or Made:
• Trait Theories
• Behavioural Theories
• Contingency Theories
• Dyad...
xxx
xxx
Stability
Return
On
Capital
Time
The old order and business impact
…then the old Order Changeth…
• De-regulation/Liberalisation
• Globalisation – borderless world, FDI,
Trade, etc
• Geo-pol...
… and giveth Way to a New…
the New Order –
• Fast change
• Knowledge more important, Talent management
• Search for best h...
..and fostered new global business
challenges..
• More market choices
• Clients unyielding demand for world-class quality
...
xxx
x
x
x
x
x
Stability
Return
On
Capital
Time
xxx
…that Changed the playing field..
x
xxx
x
x
x
x
x
Stability
Return
On
Capital
Time
xxx
..many are called but few..
x
1/3
xxx
x
x
x
x
x
Stability
Return
On
Capital
Time
xxx
...those who win do the…
x
1/3
Right
Things
Things
Right
42
Good Management is No Longer
Enough
Leadership
Skills
Management
Skills
Hi
Lo
Lo
Hi
BBC News Flash, 19 January 2012
Eastman Kodak, the company that invented
the hand-held camera has filed for
Chapter 11 Ban...
How are the Mighty Fallen?
• Founder George Eastman produced the first
film-in-roll camera in 1883
• 1888, Kodak launches ...
What Went Wrong at Kodak?
The 133-year old firm has struggled to keep up
with competitors which are quicker to adapt to
th...
… and there are others..
• Hoover
• McDonnell Douglas
• Pan Am
• Compaq
• Woolworths
• Comet
•
The Cause of Failure
Laurence J. Peter said, “There are two kinds of
failures: those who thought and never did,
and those ...
Leadership Versus Management
• Three major distinguishing marks between
leaders and managers.
– Managers operate within cu...
…and that…
Your ability to define and obtain the right
career goals, and succeed as an Effective
Manager in a modern world...
Unleashing the New African Corporate Leader - Prof Pikay Richardson
Unleashing the New African Corporate Leader - Prof Pikay Richardson
Unleashing the New African Corporate Leader - Prof Pikay Richardson
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Unleashing the New African Corporate Leader - Prof Pikay Richardson

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For the 21st Century, Good Management is No Longer Enough. And those who have no Leadership Skills, or have no desire for same, have no business aiming to run companies – they will fail!

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Unleashing the New African Corporate Leader - Prof Pikay Richardson

  1. 1. Legacy & Legacy Open Lecture Unleashing the New African Corporate Leader 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. Thesis for Today For the 21st Century, Good Management is No Longer Enough. And those who have no Leadership Skills, or have no desire for same, have no business aiming to run companies – they will fail!
  4. 4. …notice that there was an Old Order… the Old Order – the post-war period to 1975 characterised by - environmental stability - steady economic growth - little competition – mutual co-existence - high demand Good Management al la mode.
  5. 5. …but then as “In Search of Excellence” • 1984: 43 • 1994: 8 • Today: 6
  6. 6. Corporate Failures or Insignificance • Hoover • Compaq • Woolworths • Pan Am • IBM PC • Xerox • Eastman Kodak
  7. 7. …due to Fast Pace of Change.. • Policy Reforms, Deregulation/Liberalisation • Globalisation - TRIAD • Technological developments • Industry collision • New entrants • Customer sophistication
  8. 8. …the Old Order giveth way to a New… the New Order – post 1975/80 of fast Change - many corporate failures - impermanence of success - failure of success - inappropriate business models Right Things rather than Things Right
  9. 9. What has Fast Change led to?? The relative importance of Management and Leadership changed And the crucial need for Effective Leadership – a leadership that is capable of anticipating Change, and Leading and Navigating these companies through a fast-changing global environment.
  10. 10. The 21st Century Way to Success Today’s organisations must focus on • achieving optimal productivity through its people • recognise that the new challenge is how to build speed, flexibility and self renewal • need for competent and motivated people in order to grow and flourish. At the core of this challenge is the quality and maturity of its Leadership
  11. 11. ..hence Good Management is No Longer Enough… Leadership Skills Management Skills Hi Lo Lo Hi
  12. 12. Definition of 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. 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
  14. 14. Effective Leadership in Organisations Effective leadership is “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
  15. 15. Leadership and the Status Quo Every system is perfectly designed to get the results that it is getting today (you keep getting what you keep getting, because you keep doing what you keep getting). For a different of better results, the system needs to change. This requires Leadership
  16. 16. Attributes of Effective Leaders Ability to • set Direction – mission-vision-goals • formulate Strategy – “how to” • mobilise Followers • lead/manage Change • solve organisational Problems • developing other Leaders/manage yourself • delegate • exhibit Ethical and Moral compass
  17. 17. Effective Leaders have Essential Competences • They are able to engage others by creating a shared meaning – they have a vision and can persuade others to make that vision their own – are richly endowed with empathy • Authentic leaders have a distinctive “voice” – a purpose, self-confident, ie emotional intelligence (Al Gore didn’t have) • True leaders have integrity - strong moral compass, a powerful belief in something outside one-self, • Leaders have adaptive capacity – what allows them to respond quickly and intelligently to relentless change
  18. 18. Forces that Drive Leadership • Passion • Vision • Self-confidence • Tolerance for ambiguity and paradox • Intuition • Empathy
  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. Leadership v/s Management Leadership involves Change, and is about “Challenging Expectations” (disappoint, hurt) - Observation - Interpretation - Intervention, And is about thinking “out of the box”, moving out of the “status quo”, doing something different, and can even be risky and dangerous, eg, attacking Corruption, dealing with expired drugs etc (Jesus, Mandela, Luther King, Welch, etc)
  21. 21. Leadership v/s Management Managers do Things Right Leaders do the Right Things Managers manage Structures/ Things Leaders lead People
  22. 22. Who is a Leader? • Anybody can be learn to be a Leader • Leadership does not depend on Power or Position • We can all learn to be an Effective Leader by improving our Leadership skills
  23. 23. Leadership occurs in Context • Leadership involves a situation requiring change and people who are willing to make that change – hence situation/circumstance matters • Leadership is a process of influencing other people, whose attitude to influence differ substantially by culture – hence style of operation is culture related (rational persuasion, collaboration and consultation, gift-giving, socialising, pressure/coercion • Work-related values differ across cultures Hence what constitute effective leadership is culture-related
  24. 24. Personality and Leadership Styles • Charismatic Leadership • Transactional Leadership • Transformational, Visionary or Strategic Leadership
  25. 25. 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
  26. 26. 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
  27. 27. Improving Your Leadership Skills What does it take to be a Leader? • Personal ambition • Intelligence/competence • Ability to articulate • Ability to manage yourself • Learn from others – books, videos, courses – and practise
  28. 28. Trust and Integrity– 4 Ingredients leaders have to generate and sustain • Constancy – stay on course • Congruity – walk the talk; no gap between the theories they espouse and the life they practice • Reliability – being there when it counts; ready to support their subordinates • Integrity – honour their commitments and promises
  29. 29. Next generation of leaders • Broad education • Boundless curiosity and enthusiasm • Contagious optimism • Belief in people and teamwork • Willingness to take risks • Devotion to long-term growth rather than short-term profit • Commitment to excellence • Adaptive capacity • Empathy • Authenticity • Integrity • Visionary – Strategic Thinking
  30. 30. The 21st Century CEO’s Dream A company that • does the Right Things • is customer-focussed • has a competitor understanding • has operational excellence • moves fast and is flexible • has good internal communication • under strong Visionary Leadership
  31. 31. Thank You Email:pikayrichardson@yahoo.com Email:pikay.richardson@mbs.ac.uk
  32. 32. Leadership Theories Effective Leaders: Born or Made: • Trait Theories • Behavioural Theories • Contingency Theories • Dyadic Theories
  33. 33. xxx xxx Stability Return On Capital Time The old order and business impact
  34. 34. …then the old Order Changeth… • De-regulation/Liberalisation • Globalisation – borderless world, FDI, Trade, etc • Geo-politics and Africa marginalisation • RTAs • Technology – IT revolution, Jet • Rise of Tax havens • Customer sophistication
  35. 35. … and giveth Way to a New… the New Order – • Fast change • Knowledge more important, Talent management • Search for best host (FDI) • IT Revolution- E-commerce, Internet, etc • New entry • Political savvy • CSR
  36. 36. ..and fostered new global business challenges.. • More market choices • Clients unyielding demand for world-class quality at village-low prices • Required speed faster than available speed • More miles yet from quarter tank • Past experience often inadequate for new unknowns • Conventional tools made obsolete by new complexities
  37. 37. xxx x x x x x Stability Return On Capital Time xxx …that Changed the playing field.. x
  38. 38. xxx x x x x x Stability Return On Capital Time xxx ..many are called but few.. x 1/3
  39. 39. xxx x x x x x Stability Return On Capital Time xxx ...those who win do the… x 1/3 Right Things Things Right
  40. 40. 42 Good Management is No Longer Enough Leadership Skills Management Skills Hi Lo Lo Hi
  41. 41. BBC News Flash, 19 January 2012 Eastman Kodak, the company that invented the hand-held camera has filed for Chapter 11 Bankruptcy protection. The 133 year-old firm has struggled to keep up with competitors who were quicker to adapt to the digital era.
  42. 42. How are the Mighty Fallen? • Founder George Eastman produced the first film-in-roll camera in 1883 • 1888, Kodak launches the first consumer camera with the slogan “you press the button, we do the rest” • 1900, Kodak introduces a camera for $1, the Brownie, which becomes a best-seller in America • 1969, Kodak camera is used during the first moon landing • 1975, Kodak invents the first digital camera , with resolution, 0.1 megapixels • 2012, January 19, Kodak files for bankruptcy
  43. 43. What Went Wrong at Kodak? The 133-year old firm has struggled to keep up with competitors which are quicker to adapt to the digital era. It has struggled as mobile phone manufacturers have introduced increasingly sophisticated cameras in their own devices. This has had a huge impact on the lower end of the digital camera market which Kodak concentrated on.
  44. 44. … and there are others.. • Hoover • McDonnell Douglas • Pan Am • Compaq • Woolworths • Comet •
  45. 45. The Cause of Failure Laurence J. Peter said, “There are two kinds of failures: those who thought and never did, and those who did and never thought.” If you don’t make an attempt, you will never realize the potential of what you might have been able to achieve.
  46. 46. Leadership Versus Management • Three major distinguishing marks between leaders and managers. – Managers operate within current systems, accept the status quo and deal with incremental change. Leaders operate out of the box, create new paradigms and lead non-incremental change. – Managers implement other’s vision; leaders implement their own vision. – Managers focus on systems, structures, controls and the short run; leaders focus on people, inspire trust and focus on the long run. In sum, managers do Things Right; leaders do the Right Things. (Adapted from Warren Bennis).
  47. 47. …and that… Your ability to define and obtain the right career goals, and succeed as an Effective Manager in a modern world, depends very much on the quality of your LEADERSHIP. This will exerts a major impact on your own quality of life and your company’s success.

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