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Inculcating Leadership Qualities for Success in Corporate Career

Inculcating Leadership Qualities for Success in Corporate Career. Dr. Sheela Bhargava Professor Institute of Information Technology and Management. Action Plan. Leadership How important is a Leader? Leadership Traits and Skills The World's 10 Most Powerful Executives Few India’s Best CEOs

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Inculcating Leadership Qualities for Success in Corporate Career

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  1. Inculcating Leadership Qualities for Success in Corporate Career Dr. Sheela Bhargava Professor Institute of Information Technology and Management

  2. Action Plan • Leadership • How important is a Leader? • Leadership Traits and Skills • The World's 10 Most Powerful Executives • Few India’s Best CEOs • Key Dimensions of Leadership Training • Five Things a Leadership Program must have to be Successful • How do we Develop Leadership Qualities in Students

  3. Leadership Leadership is defined as the ability to influence a group toward the achievement of a vision or set of goals. Stephen Robbins & Timothy Judge Leadership in organizations is the process of guiding and directing the behaviour of people in the work environment. Nelson, Quick & Khandelwal

  4. Leadership “influencing people so that they will strive willingly towards the achievement of group goals” Koontz, H. and C. O’Donnell

  5. How important is a Leader? • In most cases, people will perform at about 60% of their potential with no leadership at all. • Thus, an additional 40% can be realized if effective leadership is available.

  6. capability utilization 40% Contribution due to leadership ability of manager 60% Default contribution due to need for a job, peer pressure, etc.

  7. LEADERSHIP IS ONE OF THE FUNCTIONS OF MANAGEMENT

  8. The World's 10 Most Powerful Executives • This year's Forbes list (May 10, 2018) of the World Most Powerful included 75 names—one for every 100 million people on earth. • Of those, 35 are business executives. Most are Americans; followed by a few Asians, one European and one African. Below are the top 10 executives, who helm businesses worth a combined $5 trillion, or about as much as Japan’s GDP (Japan is the world's third-largest economy).

  9. Amazon’s Jeff Bezos • Amazon's chief Jeff Bezos is the first person with a net worth surpassing $150 billion in the 3 decades that Forbes has tracked the richest Americans. • At the time of publication he was worth an astonishing $133 billion. • Amazon is worth north of $780 billion, and the stock price is up 70% over the past year.

  10. He owns 16% of e-commerce colossus Amazon, which he founded in a garage in Seattle in 1994. • Bezos attended Princeton and worked at a hedge fund before quitting to sell books online. • His other passion is space travel: His aerospace company, Blue Origin, is developing a reusable rocket that Bezos says will carry passengers.

  11. Bezos purchased The Washington Post in 2013 for $250 million. • His internet retailing giant bought supermarket chain Whole Foods in August, started opening physical bookstores, and is seeing massive growth in its cloud business.  • In Sept. 2018 he announced the Bezos Day One Fund, a $2 billion pledge to help homeless families and create Montessori-inspired preschools in the U.S.

  12. Larry Page • He cofounded Google in 1998 with fellow Stanford Ph.D. student Sergey Brin. • With Brin, Page invented Google's PageRank algorithm, which powers the search engine. • Page was Google's first CEO until 2001. After serving as president of products, he took the CEO job again in 2011.

  13. Larry Page • The CEO of Google’s parent, Alphabet. • Aside from running the world’s biggest search engine, the Michigan native has invested in a self piloting flying taxi company called Kitty Hawk, which recently tested its vehicles in New Zealand.

  14. Mark Zuckerberg • Zuckerberg started Facebook at Harvard in 2004 at the age of 19 for students to match names with faces in class. • He took Facebook public in May 2012 and still owns nearly 17% of the stock. • Mark Zuckerberg, Facebook's CEO, has seen his net worth soar as the social network's stock price has skyrocketed.

  15. Mark Zuckerberg • He was dropped from the top 10 list, primarily due to the Cambridge Analytica scandal. In March it was revealed that Facebook shared users’ data with the political consulting firm. • In April 2018, he testified before Congress after it was revealed that Facebook shared users' data with political consulting firm Cambridge Analytica. • Though the stock took a hit, Zuck’s widely publicized testimony in Congress appeased shareholders—that day the share price went up 4.5%. The second-most-famous Harvard dropout runs a company worth more than half a trillion dollars.

  16. Warren Buffett  • Buffett runs Berkshire Hathaway, which owns more than 60 companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen. • Recently retired from the board of Kraft Heinz, but the 87-year-old (second-oldest on the Most Powerful List, behind Li-ka Shing) shows no sign of slowing down at Berkshire Hathaway, the company he acquired in 1963. • In May, the Oracle of Omaha announced that Berkshire had bought 75 million shares of Apple, raising its stake in the tech giant to just under 5%.

  17. Jamie Dimon • Jamie Dimon CEO of JPMorgan, the largest bank in the world with over $2 trillion in assets under management in terms of assets. • He began his finance career at American Express in 1982 and later helped build the modern day Citigroup. • The Harvard grad joined JPMorgan Chase in 2004; he became CEO and chairman soon after. • The most powerful person on Wall Street, he ranks number 19 on the overall list.

  18. Jack Ma • A former English teacher, Jack Ma cofounded and chairs Alibaba Group, one of the world's largest e-commerce businesses. The most powerful non-American business leader. • Its 2014 IPO in New York set a record as the world's biggest public stock offering, raising $25 billion. • Like Amazon, Alibaba has found a lot of success in its cloud arm, Alibaba Cloud, in addition to increased revenues from its core commerce businesses. • Ma's investments beyond Alibaba include stakes in Chinese entertainment industry firms Huayi Brothers and Beijing Enlight Media.

  19. Doug McMillon • As the CEO of Walmart, the world’s largest private employer, he manages 2.3 million workers (roughly the number of people in China’s army). • Doug McMillon took the reins of the retail colossus in 2014, after starting his career at Walmart unloading trucks when he was a teen. • The youngest CEO to lead the company since founder Sam. • The Arkansas native captains the retailing giant as the company announced changes in its identity: It plans to open fewer supercenters over the next year and to focus more on e-commerce and in-store technology.

  20. Tim Cook • Tim Cook is the CEO the company Apple, with the world's largest market capitalization of more than $930 billion as of May 2018. • Cook also runs the most profitable business in America -Apple brought in more than $48 billion in net income last year. • The iPhone X was released in November 2017 and cost $999. Amid criticism of slow sales Cook defended it as "the most innovative product.“ • He's a hugely influential player in technology, design, publishing, and entertainment, although Apple Music is still trailing behind Spotify.

  21. Elon Musk • Elon Musk, CEO of Tesla Motors is working to revolutionize transportation both on Earth and in space. • His automaker, Tesla Motors, which was founded in 2003, is bringing fully-electric vehicles to the mass market. • SpaceX, Musk's rocket company, is now valued at more than $20 billion. • He grew up in South Africa, then immigrated to Canada at age 17. He landed in the US as a transfer student at the University of Pennsylvania.

  22. Ma Huateng • Ma Huateng (also known as Pony Ma) chairs Chinese Internet giant Tencent Holdings, which ranks among the nation's largest businesses by market cap. Ma cofounded Tencent in 1998. • He led his firm to a nearly 60% stock climb this year, primarily due to swelling revenues in its social network and online game businesses. • Tencent's popular social messaging app WeChat has more than 1 billion users. • Tencent acquired a 12% stake in Snapchat-parent Snap, according to a November 2017 filing; it also made a pre-IPO investment in Snap.

  23. INTERESTING FACTS • Out of 75 top world CEOs, 20 of the CEOs lead companies based outside their countries of birth.  • 32 have an MBA. • 34 have an engineering degree. • On average, they became CEO at age 44 and have been in office 16 years.  • 3 are women.  • 87 are insiders.

  24. businesstoday.in/best-ceo/2018/ • Varun Berry: Managing Director, Britannia IndustriesBest CEO: FMCG • YadupatiSinghania: Chairman and Managing Director, JK CemantBest CEO: Cement • Y.C. Deveshwar: Chairman, ITC

  25. SajjanJindal: Chairman and Managing Director, JSW SteelBest CEO: Mining and Metals • NavinAgarwal: Executive Chairman, VedantaBest CEO: Mining and Metals • V.C. Nannapaneni: Chairman and Managing Director, NatcoPharmaBest CEO: Pharma and Health Care

  26. A.M. Naik: Non-executive Chairman, L&TLifetime Achievement Award • B. Ashok: Chairman, Indian Oil CorporationBest CEO: Oil & Gas • KapilWadhawan: CMD, Dewan Housing Finance Corporation

  27. Leadership Traits and Skills Skills • Clever (intelligent) • Conceptually skilled • Creative • Diplomatic and tactful • Fluent in speaking • Knowledgeable about group task • Organised (administrative ability) • Persuasive • Socially skilled Stogdill, 1974 Traits • Adaptable to situations • Alert to social environment • Ambitious and achievement orientated • Assertive • Cooperative • Decisive • Dependable • Dominant (desire to influence others) • Energetic (high activity level) • Persistent • Self-confident • Tolerant of stress • Willing to assume responsibility Leaders will also use: Integrity, Honesty, Compassion, Humility

  28. Seven Traits Associated with Leadership Source: S. A. Kirkpatrick and E. A. Locke, “Leadership: Do Traits Really Matter?” Academy of Management Executive, May 1991, pp. 48–60; T. A. Judge, J. E. Bono, R. llies, and M. W. Gerhardt, “Personality and Leadership: A Qualitative and Quantitative Review,” Journal of Applied Psychology, August 2002, pp. 765–780.

  29. Leadership Traits Group Exercise: • Choose leaders YOU admire • What personality traits and skills do they have?

  30. Two Compelling Traits of Leader • One who is capable of articulating a powerful, positive and compelling vision for organizational and individual growth, and who can generate the trust and support needed to execute on this vision. • One of the tests of any leader is how he or she adapts to a shifting environment. Among the biggest shifts companies face right now is in the global political environment. 

  31. Key Dimensions of Leadership Training • Developing a leadership mindset To evolve as leaders, managers have to internalize the idea that leadership is fundamentally different from managing tasks. Being a great leader means both managing tasks and functions well, but also understanding how to behave and “show up” as a leader. It can be hard to grasp for some, but it can be learned.

  32. There’s a big difference between a learning organization and a training organization • Many training programs exist in a vacuum. They might focus on training on specific skills like time-management, budgeting and coaching, for example, but they incorporate very little business context into the design of their programs, and they measure metrics such as “usage,” rather than real business impact. • Top-level training organizations move beyond abstract learning to understand how to align what they’re doing with key business objectives.

  33. If content is king, then context is queen • Context is so important for effectively incorporating learning into an organization. For learning, getting it right in the context of your organization’s needs is what makes it relevant, meaningful and “sticky.” • Leadership development doesn’t and shouldn’t look the same at every organization. For example, how leaders make decisions at a start-up in a high-growth industry is going to be quite different from decision-making at a 100-year-old organization in an established market.

  34. Video • How to Lead

  35. 5 things a leadership program must have to be successful • Senior leadership involvement • Bring senior executives into leader development programs – as sponsors, mentors and coaches.  • Goodyear Tire & Rubber, for instance, involves senior executives in the design of programs, makes them a part of the communications plan, and taps them to co-moderate virtual sessions on topics in their area of expertise.

  36. 2. Build interactive experiences that engage learners • Professionals are intensely busy, so you have to draw them in to learn. You can motivate them by delivering content through engaging video, using competition or other gaming elements, or allowing learners to make personal choices and indicate preferences as they progress.

  37. 3. Define and agree on clear, measurable, and well-articulated objectives and expectations • Slow down and be crystal clear about what you want to accomplish before you start. • Learning teams often respond quickly to a need from the business to deliver a program. What sometimes gets missed is what needs to be achieved through the program. What will success look like? • The focus now is on preparing leaders to anticipate what’s coming next in the rapidly changing business environment, so they are ready to act. They must be plugged into their customers, competitors and markets, and be comfortable making decisions, even in the face of ambiguity.

  38. 4.Encourage learning across your organization, and make it part of your culture • Organizations that continuously learn and innovate will be able to maintain their competitive advantage. 5. Build and nurture your network • Leaders need to get things done through influence more than authority. Therefore, relationships and trust with a network of key individuals across regions and functions will be critical to moving thing ahead quickly and effectively.

  39. How to improve your leadership skills • Reflect and identify the skills YOU need to lead effectively and create your action plan to develop them • Ask for feedback from work colleagues, line managers, tutors, your ‘followers’ • Practise! Take on responsibility (work, volunteering, clubs & Societies) and reflect on your performance • Find a mentor – learn from positive leadership role-models • Attend further leadership and management training

  40. How do we Develop Leadership Qualities in Students 1. Recognize the Predispositions • There’s no such thing as a born leader. Yes, you’ll notice that some of your students have predispositions to be the leaders of the pack. • However, you’ll notice that each and every one of your students has a skill that can turn them into leaders. Introverts, for example, don’t want to be the center of attention. However, they have great skills to their advantage: empathy, listening, and reasoning before speaking up. You want to recognize and value everyone’s potential. • Make the student aware of own strengths, qualities and abilities

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