![Page 1: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/1.jpg)
Legacy & Legacy Open Lecture
Unleashing the New African Corporate
Leader
Prof Pikay Richardson, Visiting Senior Fellow
Manchester Business School
![Page 2: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/2.jpg)
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
![Page 3: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/3.jpg)
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!
![Page 4: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/4.jpg)
…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.
![Page 5: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/5.jpg)
…but then as “In Search of Excellence”
• 1984: 43
• 1994: 8
• Today: 6
![Page 6: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/6.jpg)
Corporate Failures or Insignificance • Hoover • Compaq • Woolworths • Pan Am • IBM PC • Xerox • Eastman Kodak
![Page 7: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/7.jpg)
…due to Fast Pace of Change..
• Policy Reforms, Deregulation/Liberalisation • Globalisation - TRIAD • Technological developments • Industry collision • New entrants • Customer sophistication
![Page 8: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/8.jpg)
…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
![Page 9: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/9.jpg)
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.
![Page 10: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/10.jpg)
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
![Page 11: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/11.jpg)
..hence Good Management is No Longer Enough…
Leadership
Skills
Management Skills
Hi
Lo
Lo
Hi
![Page 12: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/12.jpg)
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
![Page 13: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/13.jpg)
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
![Page 14: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/14.jpg)
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
![Page 15: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/15.jpg)
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
![Page 16: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/16.jpg)
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
![Page 17: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/17.jpg)
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
![Page 18: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/18.jpg)
Forces that Drive Leadership
• Passion • Vision • Self-confidence • Tolerance for ambiguity and paradox • Intuition • Empathy
![Page 19: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/19.jpg)
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.
![Page 20: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/20.jpg)
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)
![Page 21: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/21.jpg)
Leadership v/s Management Managers do Things Right Leaders do the Right Things
Managers manage Structures/ Things Leaders lead People
![Page 22: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/22.jpg)
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
![Page 23: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/23.jpg)
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
![Page 24: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/24.jpg)
Personality and Leadership Styles
• Charismatic Leadership • Transactional Leadership • Transformational, Visionary or Strategic
Leadership
![Page 25: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/25.jpg)
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
![Page 26: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/26.jpg)
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
![Page 27: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/27.jpg)
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
![Page 28: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/28.jpg)
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
![Page 29: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/29.jpg)
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
![Page 30: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/30.jpg)
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
![Page 31: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/31.jpg)
Thank You Email:[email protected] Email:[email protected]
![Page 32: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/32.jpg)
![Page 33: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/33.jpg)
![Page 34: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/34.jpg)
Leadership Theories
Effective Leaders: Born or Made:
• Trait Theories • Behavioural Theories • Contingency Theories • Dyadic Theories
![Page 35: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/35.jpg)
xxx
xxx
Stability
Return On
Capital
Time
The old order and business impact
![Page 36: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/36.jpg)
…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
![Page 37: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/37.jpg)
… 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
![Page 38: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/38.jpg)
..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
![Page 39: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/39.jpg)
xxx
x x
x x x
Stability
Return On
Capital
Time
xxx
…that Changed the playing field..
x
![Page 40: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/40.jpg)
xxx
x x
x x x
Stability
Return On
Capital
Time
xxx
..many are called but few..
x
1/3
![Page 41: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/41.jpg)
xxx
x x
x x x
Stability
Return On
Capital
Time
xxx
...those who win do the…
x
1/3 Right Things
Things Right
![Page 42: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/42.jpg)
42
Good Management is No Longer Enough
Leadership
Skills
Management Skills
Hi
Lo
Lo
Hi
![Page 43: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/43.jpg)
![Page 44: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/44.jpg)
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.
![Page 45: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/45.jpg)
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
![Page 46: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/46.jpg)
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.
![Page 47: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/47.jpg)
… and there are others..
• Hoover • McDonnell Douglas • Pan Am • Compaq • Woolworths • Comet •
![Page 48: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/48.jpg)
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.
![Page 49: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/49.jpg)
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).
![Page 50: Unleashing the New African Corporate Leader - Prof Pikay Richardson](https://reader034.vdocuments.us/reader034/viewer/2022052619/555c002ed8b42a5b448b5217/html5/thumbnails/50.jpg)
…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.