“Hold fast to dreams, for if dreams die, life is a broken-winged bird that cannot fly.”— Langston Hughes

The world’s political, economic and cultural history is a witness to the fact that the future belongs to those who dare to dream. Think about people who have changed the world, Abraham Lincoln, Martin Luther King Jr, Winston Churchill and Mahatma Gandhi, and you will realise that they all fought the known and accepted norms; they all had their original ideas about how the world should be and they persevered with them in spite of all the opposition and resistance they faced. They did not give up. They had a vision and the ability to carry people and turn that vision into reality. Think of such cases in the business world and you think Steve Jobs, Michael Dell, Henry Ford and Walt Disney, to name a few. Michael Dell launched a personal computer company in the midst of an enormous recession in the industry. Walt Disney, one of the biggest companies in the entertainment business today, started in a garage in 1923 when America was two months into a recession. Household names like General Electric, Kodak, Hewlett-Packard and Microsoft were all launched in tough times.

We are in a period of change. These are times when decisive action is required; the world is again calling for the leaders and innovators. With the global economy at its lowest in terms of confidence, people are going into a shell. This fear is cutting through corporate India as it mentally slows down. The reality is that for India, none of the basics have changed; we still have a country that is high on aspirations. The growing middle class continues to grow and rural India continues to be an opportunity. Then, why this mood and loss of confidence? We are experiencing a leadership crisis. In a high growth environment, leaders emerged who simply rode on the back of the trend. It is time for organisations to evaluate their present leaders and their ability to lead during tough times.

This is wake up time for the CEO — the time to step up and lead. Leaders, who are willing to take risks and try something new, will see results. It is obvious that staff at such times will be anxious about the consequences of failure and prudence takes precedence over innovation. But, leaders have to realise that such behaviour is self-defeating. Leaders need to be clear about the messages they are sending out to people. If they want to accelerate growth and innovation, they have to encourage taking risks. They need to work harder than they ever did before to find new untested markets, new solutions and innovative ways of doing things. They need to be committed to a cause and lead their people through these times with confidence and not just bravado. Innovation should be the buzzword, along with proactiveness. If one does exactly what others do; then one will be playing the price game and not the value game.

The power of positivity in such times cannot be underestimated. The leader needs to walk tall, think and act positive. They cannot go around talking about how tough things are. If they show a lack of confidence, people will believe the worst. Leaders must desist from spreading their own brand of negativity among their staff. They cannot let their own shoulders droop. If you observe companies whose leaders are full of positive high energy, you will notice a spring in the step of people who work there. The mood is such organisations are positive and productivity is high.

Greek poet Homer had said, “Be a speaker of words and a doer of deeds” — leaders must remember this and lead by example when it comes to their actions. The actions must resonate with their messages. They must remember people are constantly watching them.

Archbishop Desmond Tutu has said, “You stand out in the crowd only because you have these many, many carrying you on their shoulders.” And, I come to the one thing that many leaders forget about —leading with empathy and compassion. You have to learn to connect with employees on a personal level. You have to be really interested in your staff and in their well being, so that they understand that to support you in your endeavours, they will achieve their own goals.

And finally, another lesson that we learn from great leaders is that they know when to move on. They hold their position in stewardardship and know when it is time to hand it to the person who will take the company to greater heights. The world’s best corporate leaders have been actively involved in their own succession planning. Different times call for different skill sets and a company must chose the leader who is best suited for the role at that time. We need bold leaders, ones who are willing to take on risks, who have high energy levels and the ability to fire up their teams and motivate them to give their best.

“All of the great leaders have had one characteristic in common: It was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.” — John Kenneth Galbraith, US economist.

(The writer is head of advisory services of KPMG, India)