Tun Dr. Mahathir: Leaders must be visionary, risk takers and allowed to be proven

Fourth Prime Minister Tun Dr. Mahathir Mohamad reminded that the people to choose their leaders wisely because it would be difficult to unseat them later.

He described a leader as “Someone who leads and willing to stick out his neck and take risks, for benefits of others” amongst ability to make decisions and naturally, to be responsible for it. He also added that visionary and being observant is important for a leader to be successful. “A leader must have something extra. A leader is ‘privileged’ to be made one”.

The Prime Minister of 22 years also said that “Leaders should be allowed to demonstrate his leadership and strategies to work. So people have to be tolerant, to allow the leader to produce results”.

“Leaders should also have the stamina to be criticized and must expect his leadership to be recognised in time”.

“Leadership is essential in any organisation” as an opening remark. “Followers are smarter than the leaders is pain in the neck”.

Leaders must also diligent and understand thoroughly on the directions and instructions issued. “When a leader ask to be efficient, they must have some idea how to do it”. Of course, he meant on thinking outside the box. “If you don’t know, try to find out how it is done”

“A good leader must be able to communicate, from his immediate deputy to the lowest ranking person in his organisation”. He also said that the leaders must be ready to be ‘uncomfortable’, as he was talking about being in the ‘comfort zone’.

He also shared about how to move Malaysia at a faster rate, where the ‘Malaysia Inc’ was introduced. The close working partnership between Government and private sector is very important to succeed. “Government has direct interest in the private sectors’ businesses. Every Ringgit they make, Government can collect 28 percent”.

He also reminded that a leader should not abuse power. History has shown that some abusive leaders brought their organisation down. “A position of power expose a leader to the threat of corruptions. The leader must be resistant to the ‘pressure’ of temptations. It is a good habit to resist temptations and one is likely be a good leader (along with the other qualities). If corrupt leaders be allowed to carry on, it will become a culture that will destroy the whole society and impair development the country”. He explained that leaders must selfless and ready to sacrifice their interests ” The payback for the Leaders is the progress they managed to achieve”.

Obviously he was sharing from the heart his immense wealth of experience that managed to propel Malaysia as the upcoming new economic powerhouse in his 22 years of premiership.

The luncheon is hosted by MIDF Investment Bank Bhd to mark the 50th anniversary of one oldest merchant bank in the country.

In the Q and A, he explained that the ‘Capital Control’ measures introduced on 1 Sept 1998 as drastic effort to stop Malaysian economy from ‘bleeding’, was not something new. “Initially US Dollar was pegged to a fixed amount of gold. This is a form of ‘capital control’. The currency was stable. Suddenly they decided to print more money and when they don’t have enough gold, they started to ‘float’ the currency. Later, our method was proven to be right and this ‘creation of money without gold backing’ caused the American banking system near bankrupt in the ‘sub-prime scandals’ “.

He also spoke that Malaysia should no longer rely on FDI and instead developing local businesses and harness domestic investments. Many of the FDIs did not bring any substantial benefits beyond creation of employment.

Published in: on April 15, 2010 at 12:15  Comments (7)