Process of Institutionalizing Leadership of Change

Many well-known organizations like Lucent, Chrysler,
Lehman Brothers, Northern Rock, Merrill Lynch, Satyam Computers etc. either
closed their operations or were take over due to failed to adapt to change,
implement their strategies successfully, and prepare for the uncertain future.
Ineffective leadership was the main cause.

Leadership is a process wherein an individual influences the thoughts, attitudes and behavior of
another individual or a group of individuals towards common goals.

Take example of Ratan Tata
who set a new strategic approach for the Tata group when he took it over in
1991. At the time, Tata group had no mark in international business. Ratan Tata
felt the need of going global in order to reduce the risk of dependence on an
economy of a single country. He started acquiring a huge number of companies,
such as the Tetley Group, the Daewoo Commercial Vehicle Company and Boston’s
Ritz-Carlton hotel (now the Taj Boston) using a case by case, trial-and-error
approach. The success of this going global move was not only due to the
explicit and careful strategic approach but also by Ratan Tata’s personal
vision for how to complete across international markets.