Participative Leadership Results in Higher Productivity and Performance

The Financial thoughts leadership Summit is being conducted at W- Hotel, Doha, Qatar on 4th and 5th May 2011.Top International and Arab Bankers, economists and business professionals are participating in this event. Mr. R. Seetharaman, Chief Executive Officer – Doha Bank gave the keynote address on “Transforming leadership for the next millennium”

Speaking on the occasion R.Seetharaman explained the areas which leaders need to transform to handle modern challenges. He explained the realignment of business models in the light of current global, regional and local scenarios and the basic challenges economies face in moving from crisis to stability.The current global scenario is a result of the major crisis in 2008. He stated that “In 2008 as the financial crisis went from bad to worse, policymakers and business executives struggled. The bigger problem though, is a severe shortage of something else entirely: financial leadership True leaders are those who bring accountability, consistency, and a sharp sense of what must be accomplished to all they do. He also emphasized that business models need to be realigned by transforming organization mindset. We should develop Mindset to work in a virtual organization. Participative leadership is necessary for changing the mind-set and result in improved performance.”

Mr. R. Seetharaman highlighted why leaders focus on branding. He stated that “Maintaining the Brand Equity of the organisation is the key role of today’s CEO and Brand strategy is also most critical step in planning Hence we need to protect and build the Brand of the Organisation. He also demonstrated sustainable global brands in the financial services and other industries which leaders have developed resulting in sustainable development in economic, social and environment practice.

Mr. R. Seetharaman emphasized the priorities of leaders for sustaining business growth. He stated that “Cross-selling and expanding business domains provide value creation to customers. Continuous innovation is needed synchronizing with overall corporate strategy. The key differentiator strategies which leaders follow includes customer segmentation, focus on specific segments, collaboration with other financial service providers, use technology to increase efficiency and reach and compete with aggressive products. They also strengthen IT and business linkage and maximize business value from IT investment”

Mr. R. Seetharaman explained the human resource factor in leadership which should focus on grooming people for global environment. He stated that “Leaders focus on identifying and expanding human talent base, minimising people skill gaps, expanding intelligence in products and services and sustaining high satisfaction and motivation level”

Mr. R. Seetharaman also emphasised the importance of staying competitive and highlighted factors which leaders focus to improve competitiveness. He stated that “Enhanced measurement of business performance, cost rationalisation, quality customer service and improved productivity are key to improve competitiveness. We need to challenge ourselves and look for improvement opportunities. In future, banks need to equip themselves with internal capabilities and build efficient and viable business models to create the advantage of new opportunities available into a long term sustainable competitive advantage”

Mr. R. Seetharaman highlighted leaders should adopt corporate social responsibility to reflect the contribution back to society. He stated that “Organisations should Pro-actively support to counter Global Warming They should develop pro active measures in developing national workforce and high allocation for promoting cultural and supporting social causes.Corporate perspective needs to have a seamless social perspective. Financial institutions can contribute by aligning lending and funding activities to environmental cause”

In his concluding remarks, Mr. Seetharaman said “Leaders should know how to manage various stakeholders expectations and also monitor the changes in various stakeholder expectations. Organisation support is required to build a leadership pipeline. Knowledge sharing helps in developing and identifying new leaders. The participative leadership across the organisation will not only develop the next generation leaders but also improve the productivity and performance of the organisation.”