ANNOUNCEMENTS
In recent years, the concept of development has evolved significantly, encompassing a wide array of factors such as agriculture, civic planning, international trade, poverty reduction, personal well-being, and social transformation, extending beyond mere economic growth. This paradigm when integrated with the consciousness and concern for the Planet with all her ecosystem has led us to feel a strong necessity of addressing all the development issues through the lens of sustainability. In fact, economic development, the way it has been long perceived since the first industrial revolution, has also been pervaded by the doctrine of sustainability. Business organizations the world over, being the prime movers, are now in a continuous process of responding to this felt need. There is enough historical evidence that reiterates the role of appropriate leadership in such transformation. This study is an attempt to explore the leadership issues suitable for sustainable business development.
Statement of the problem: Achieving sustainable development remains humanity's foremost challenge, requiring concerted efforts from businesses, policymakers, and civil society. Notably, businesses play a pivotal role, both as contributors to and potential solutions for sustainability challenges, given their influence on economic activities and societal behaviours. Given the context, the research problems have been identified as follows:
1. What’s the role of business leadership in change management?
2. Are the existing leadership models enough to effectively handle these emerging sustainability-related business issues?
3. What kind of business leadership might add strength to lead the organization to a sustainable future?
Importance of the problem: All round efforts are needed to address the agenda of sustainable development as reflected in SDG 2030. It is a very complex issue that mandates a comprehensive approach. Policy makers and corporates today recognise that addressing the multifaceted challenges of sustainable development necessitates an integrated approach by businesses (Naudé, 2012). Given the situation, it appears important to acknowledge the need to ensure the business houses are led by right kind of leadership exercise. In fact, it is quite evident in the corporate world now.
Research methodology: This is an exploratory study, mainly a qualitative one. The methodology followed briefly is as follows:
1. A detailed literature review.
2. A thorough study of cases on leadership and change management.
3. Personal interviews with different business leaders and stakeholders.
4. Questionnaire survey among corporate manage-leaders across India.
5. Results are analysed using some statistical tool followed by ethnographic analysis.
Data and data sources: Phase 1 qualitative data was collected through guided interview with key leaders from companies who were part of the BSE Greenex, Carbonex, and BSE Top 30 or amongst top 30 CSR contributors to India. In Phase 2 data was collected using mixed study where qualitative and quantitative data was collected with help of homogenous sampling method. This helped in reaching out to a targeted sample of senior professional linked to specific criteria such as work organizations, education qualification, and years of experience in the area business, strategy, leadership, and sustainable development.
Findings of the study: The key findings of the study include,
• There is a strong felt need among business leaders for a compatible framework that would cater to the situational need for accelerating sustainable business development.
• A new generation of leadership is the need of the hour because leadership is perceived to be the most influencing and intervening variable.
• Leadership traits too are strongly important, the most important trait being the situational adaptability.
• There is a strong felt need among business leaders for a compatible framework that would cater to the situational need for accelerating sustainable business development.
• A new generation of leadership is the need of the hour because leadership is perceived to be the most influencing and intervening variable.
• Leadership traits too are strongly important, the most important trait being the situational adaptability.
Expected policy implications: This study is with the main objective to address the problem of finding out potential leadership issues for handling the emerging sustainability driven business models. Consequently, this work could be of much use for business houses, policymakers, academicians, and future researchers as well. Corporate houses may find it useful for reshaping their leadership that could necessitate government and other policymakers to feel a pressing urge for contemporising the education system. Academics would find the work useful while responding to the new kind of managerial leadership curricula. And finally, the researchers could take some leads for extending and expanding the research further.
