INSIGHTS INTO LEADERSHIP MANDATES AND IMPERATIVES IN A VUCA WORLD

Abstract

“Leadership behavior is multidimensional. These dimensions are finite in number, and vary according to leader personality, the requirements of the task to be performed by him and his followers, the attitudes, needs, and expectations of his followers, and the organizational and physical environment in which he and they operate.”— [Alan C. Filley and Robert J. House] Effective leadership, in any situation, should give direction to the efforts of the members of the society in general and those of the individual organization specifically in accomplishing the organizational and societal goals respectively. Without leadership or guidance, the link between the people and the goals might become tenuous leading to a situation of sub-optimization wherein the selfish interests of the individuals are achieved making the overall organizations inefficient and compromising the exalted goals of the society. As per Keith Davis, without leadership, an organization is but a muddle of men and machines. Leadership is the ability to persuade others to seek defined objectives enthusiastically. It is the human factor which binds a group together and motivates it toward goals. Management activities such as planning, organizing, and decision-making are dormant cocoons until the leader triggers the power of motivation in people and guides them toward goals. Leadership transforms potential into reality. It is the ultimate act which brings to success all of the potential that is in an organization and its people.

This Paper is presented in FIVE Sections. The academic world has witnessed drastic and dramatic changes in the normative ways of teaching and learning in the very first few months of the academic year 2020, when the least expected and understood COVID-19 has descended on to the whole world. So, in Section-I, an attempt is made to enumerate and explain the various leadership challenges the Higher Educational Institutions (HEIs) are currently facing with special focus on the status of HEIs in the Post-COVID scenario and the way forward. As per World Economic Forum, there are at least five ways in which COVID-19 has changed the ways in which the workforce is managed.

The world’s response has resulted in the most rapid transformation of the workplace. In Section-II, with the emergence of Society 5.0 in the evolution of human society, the paradigm shifts in the leadership Practices under Industry 4.0 and Marketing 4.0, and Marketing 5.0 are discussed. It also throws light on how Industry 5.0, which is characterized by going beyond producing goods and services for profit and as something that lies next to and beyond Industry 4.0. It also provides an overview of how the constantly changing and evolving trends in industry and shifts in marketing philosophies are placing constant pressures upon the business leaders and industry captains. VUCA has become a catch all phrase and today, it is frequently used in the context of the global business/marketing environment.

So, in Section-III, the issue of what business leaders need to do to survive and thrive in a VUCA World is addressed by giving real life VUCA examples and analysis to demonstrate several things to the business leaders. Section-IV debates about the leadership imperatives to keep the organizations healthy and viable in a VUCA society. Competition in global markets in virtually every product, service, industry, and market segment is fierce and will grow even fiercer. Finally, under Section-V, the need for and importance of an innovative marketing strategy to effectively deal with the multiple challenges and threats that organizational leaders and members are facing today are presented. In summary, the primary hallmarks of leaders of VUCA world and the leadership interventions are mentioned citing some practical examples from the corporate domain.