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THOUGHT LEADERSHIP January 2018 THOUGHT LEADERSHIP January 2018 Price : Rs. 500/- (Excluding postage) © THE INSTITUTE OF COMPANY SECRETARIES OF INDIA Disclaimer : Although due care and diligence have been taken in preparation of this Publication, the Institute shall not be responsible for any loss or damage, resulting from any action taken on the basis of the contents of this Publication. Any one wishing to act on the basis of the material contained herein should do so after cross checking with the original source. We acknowledge the opinions, beliefs, viewpoints, pictures, images and data expressed by various authors, websites, persons, organizations and forum participants, whose opinions, beliefs, viewpoints and relevant data has been used and referred to, for the preparation of this title. Published by : THE INSTITUTE OF COMPANY SECRETARIES OF INDIA ICSI House, 22, Institutional Area, Lodi Road New Delhi - 110 003 Phone : 45341000, Fax : 24626727 E-mail : [email protected]; Website : www.icsi.edu Printed at : Chandu Press/ 200/January 2018 (ii) Preface “Thought leaders are the informed opinion leaders and the go-to people in their field of expertise. They are trusted sources who move and inspire people with innovative ideas” In the contemporary era of globalized nation, cutting edge technologies, emerging economies, inclusive growth, sustainable development, progressive entrepreneurship and enlighted services to the world at large, a set of varied opportunities is open for the states to register equitable and evenly distributed welfare to its populace. With boon, goes the bane; so is equally applicable to this world of opportunities. Along with multi-sectoral opportunities, challenges are also posed in the way of successful realization of wide-ranging growth and development of as a whole. In this context to achieve the maximum while availing the growth based opportunities and encountering the challenges in the time bound manner, thoughtful leadership is mostly sought after. Rightly said that, “Thought leaders advance the environs of ideas by advancing actionable, commercially relevant, research-backed, new points of view. They engage in “blue ocean strategy” thinking on behalf of themselves and their concerns with having a singular, internal focus on achieving mastery of a particular discipline.” Thought Leadership is not a novel concept in India, it is well in place since ancient times, which is reflected through the lessons of leadership from Ramayana and Bhagvad Gita. We also beheld the leading lessons on thought leadership from the eminent leaders of Indian as well as of international origin in the history of progressive civilizations. India under the perspective of sustainable growth and empowered citizens in the vision New Age India, 2022, is leading us to witness gamut of transformed and growth oriented reforms in the regulatory and governing regime of the country. Company Secretaries with their expertise in the governance duly recognized, sought after and rewarded are playing a role of Thought Leaders in ensuring the directed implementation of momentous and significant reforms in the country be it GST, NCLT, IBC, Promoting Entrepreneurship, supporting the regulated financial market at equilibrium, advancing the prospects of digital economy and many more. This is not only making them to rationalize the opportunities for them, rather they are serving their professional excellence in making each and every stakeholder of this transforming regime to grab the equitable share of his or her welfare. (iii) In the notion of recognizing the significance of Thoughtful Leadership for the professionals including Company Secretaries as the Thought Leaders in true letter and spirit, The Institute has come up with the publication titled “Thought leadership”. This publication, which is one of its own kind, and would apprise the professionals, regulators, stakeholder, members and students on the meaning and significance of Thought Leadership in the contemporary regime of the country, lessons of thought leadership through Ramayana, Mahabharata and eminent Thought Leaders, and how CS as Thought Leader is serving the end of inclusive and sustainable growth prospects of the nation as a whole. I commend the dedicated efforts of Dr. Gargi Rajvanshi, Assistant Director, ICSI in preparing the manuscript of this publication under the guidance of CS Saurabh Jain, Joint Director, ICSI and overall supervision of CS Sonia Baijal, Director, ICSI. I am sure this publication would work like an enriching guide for our professional community and the public at large to serve their thoughtfulness as Thought Leaders and would also guide the budding professionals to entail the qualities of thoughtful leadership in their professional expertise and excellence. Place: New Delhi CS (Dr.) Shyam Agrawal Date: January 11, 2018 President The Institute of Company Secretaries of India (iv) Contents CHAPTER - I INTRODUCTION Introduction 2 Thought Leadership: An Insight 5 Meaning of Thought Leadership 5 Objectives and Significance of Thought Leadership 7 Characteristics of a Thought Leader 8 Steps to Become a Thought Leader 11 Seven (7) R’s of Thought Leadership 14 Thought Leadership : A Key to Success 26 CHAPTER – II THOUGHT LEADERSHIP IN INDIA : A TALE THROUGH RAMAYANA AND BHAGVAD GITA Thought Leadership : The Ramayana Way 20 Thought Leadership : The Mahabharata Way (Bhagvat Gita) 27 (v ) CHAPTER - III EMINENT THOUGHT LEADERS AND THEIR APPROACHES OF THOUGHT LEADERSHIP : A BIRD’S EYE VIEW Thought Leaders of Indian Origin 36 Amartya Sen 36 APJ Abdul Kalam 44 Bhimrao Ramji Ambedkar 53 Chandrasekhara Venkata Raman 57 Mahatma Gandhi 60 Narendra Damodardas Modi 65 Sardar Vallabhbhai Patel 72 S. Radhakrishnan 77 Swami Vivekananda 80 Thought Leaders of Transnational Origin 85 Abraham Lincoln 85 Barack Obama 90 Bill Gates 96 Mother Teresa 104 Steve Jobs 109 Walt Disney 115 Warren Buffet 121 Lessons on Thought Leadership: A Concise View 126 (vi) CHAPTER – IV NEW INDIA, 2022: A TRANSFORMATION UNDER THOUGHTFUL LEADERSHIP LEADING THE PATH OF INCLUSIVE DEVELOPMENT Republic of India: An Overview of Incredible Progression and Advancement 130 India: Pre Independence Era 130 India: Post Independence Era 132 Innovatory Phase of Governance in India 132 Revolutionery Phase of Indian Economy 135 Growth of Agriculture Sector 136 Service Sector Growth 136 Infrastructure Development 137 Major Reforms of Indian Economy 138 Regulatory Reforms in India 142 Other Reforms 148 Progress in Education Sector 148 Achievements in the field of Healthcare 148 India: A Transition from India to New India, 2022 149 Emerging Trends vis-à-vis Role of Professionals 152 (vii) CHAPTER –V INDIA ON THE PATH OF INCLUSIVE DEVELOPMENT: ROLE OF COMPANY SECRETARIES Thought Leadership of Governance Professionals: Ancient Context 158 Thought Leadership of Governance Professionals: Contemporary Context 158 Company Secretary as Thought Leader 162 Company Secretary vis-vis Thought leadership: A Perspective Analysis 164 Characteristics of CS as Thought Leaders 166 Concluding Remarks 168 REFERENCES 171 (viii) Chapter - I Introduction Thought Leadership Introduction In the present perspective, the Republic of India is considered as one of the possible emerging superpowers of the world. This emerging growth of the nation is attributed to various factors including central position of India, its magnificent resources, its demographic trends, domination young and active population, global diaspora, rapidly expanding economy and the transformative reforms taking place in subsuming good governance in India. As discussed time and again, governance and development go hand in hand. Good is the governance, then better is the growth, better is the growth then best should be the governance. UN System Task Team on the Post 2015 UN Development Agenda1, has clearly discussed that good governance is a key to development. It was stated that it is the governance only which makes institutions and rules more effective and efficient, in order to achieve equity, transparency, participation, responsiveness, accountability, and the rule of law. These aspects are crucial for human development and the eradication of poverty since ineffective institutions usually result in the greatest harm to those who are poor and vulnerable. This clarifies the fact that most developed and growing nations of world is set by the example of effective and efficient good governance. India too resources its splendid inclusive growth to transparent and responsible governance in the country. Needless to say, that when it comes to governance, a statement on effective and efficient good governance could not be closed without a creditworthy mention of a Company Secretary. Company Secretaries play a crucial role in effecting the compliance and governance in the country at par with global standard. Owing to the professional excellence, company secretaries are serving in the reign of compliance and governance, the time has come where they are better known as Governance Professionals.2 Well said, “Nothing is constant except change”, true on these lines, company secretaries are most adaptable towards any change or reform in the regulatory and governing regime of the country. Company Secretaries have been a pivotal pillar in governance since independence, their role from clause 49 of Listing Agreement to Voluntary Guidelines for Corporate 1. Governance and Development (2015), Thematic Think Piece, UN System Task Team on the Post 2015 UN Development Agenda. Available at http://www.un.org/millenniumgoals/pdf/Think%20Pieces/7_governance.pdf
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