Speaking at a seminar titled “Strategic Leadership in Turbulent Times”, organised by NSHM and National Institute of Personnel Management, business leaders provided insights into their strategies to overcome the crisis.

“Leaders should now listen more to people, they should listen to what they are saying and understand that and should act accordingly. What’s important is also communication and it’s important to correspond with the employees,” said Sandipan Chakravorty, chairman Eastern Region, CII, at the seminar.

He said that strong leadership is required to tide over the crisis. He also stressed on the importance of corporate social responsibility in these difficult times.

With the country topping this year’s list of most corrupt nations, he said that spirituality and integrity were two of the most important qualities in a leader now. While the Satyam debacle was a topic that often came up, yet most professionals agreed that the greed of a few brought a bad name to a large group of talented individuals.

“The issue of trust does come up and the leadership betrayed that trust but the credit goes to the employees because due to their efforts the company is still getting some business,” said AK Balyan, director, HR, ONGC.

He also said that in the global financial crisis there has been a gradual shift of management students towards getting themselves recruited more by PSUs.

While the global crisis may not have hit the companies in India and Asia as hard as others in the West, yet the crisis has been felt by all.

Biswadip Gupta, Jt Managing Director and CEO, JSW Steel, said, “Last year steel was a great word but from mid-October last year the demand went off. This time the crisis has led to a crash of confidence and trust of people and this needs to be corrected,” added Gupta.