Meaning and practice of "capitalism" will keep changing with changing times in the dynamic global economy. Hence "ends" to be achieved will also keep changing and "means" to achieve them need to constantly evole. Redefining the enda and means and leading at all levels , depending on emerging conditions, is the long term capitalism challenge which is primarily, a leadership challenge.
With explosion in information and communication technologies and with accelerating shift in economic power from developed countries to emerging and developing economies, the meaning and practice of "capitalism" are undergoing major changes. In to-day's world, there is no single"pure" capitalist society as per the classical definition of capitalism and different countries follow different shades of capitalism. In such a situation, refusal to accept ground realities and accept others as equals is the central problem faced by countries and corporates all over the world. Moving forward with an open mind and keeping flexible options open while maintaining core values is the need of the hour.
The solution lies in providing the "right" leadership to meet the challenges of change at all levels; national, corporate and group. Ability to see ahead, developing the necessary insight, establishing long term vision and mission, setting priorities and milestones, working out the ways to reach them, mobilising required resources, implementing the action plans and above all- motivate the people to share the vision and participate whole-hearedly in the implentation of the chosen path, these are to be provided by leaders who can think beyond themselves. Development of such leaders is the solution.
History repeatedly highlights the impact of leadership at all levels. Toa large extent, nations, corporates and groups have succeeded or failed in achieving their goals by the quallty of leadership. Needless to say, given the right leadership, we can always set our priorities and work towards achieving them. The world has sustained so far and will continue to sustain by leadership provided in all fields, be it politics, economics or science and technology. Humanity will continue to develop and prosper under right leadership providing right direction.
As a first step, leades of the world- political, corporate and thought leaders- should introspect and decide sort term plans to move in a direction with a new paradigm. This is not impossible if the first steps are taken at the very top level in all organisations. They can set the direction and move foreard by setting the example.
Whatever is stated here is the distilled essence of what great thought leaders of our time have been saying and propogating. The credit is entirely theirs.
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