Leadership under extreme constraints - Lion, Fox and Mouse
Vinay talks about how Narasimha Rao combined the notion of intellectual agility (ability to fundamentally shift one’s beliefs when new data presents itself) and implementation agility (knowing how to drive change through a complex system). He talks about how Narasimha Rao could play Lion, Fox or Mouse and the criticality of timing in these situations.
In Summary - Playing to Potential
Vinay talks about how Narasimha Rao was a fusion of Don Quixote (somebody who acted without too much thinking) and Hamlet (somebody who thought a lot but didn’t act as much) and how he brought the various shades of gray in his personality to bear as a leader. He talk about how we need to be cognizant of our environment when we think about what we do and how we implement it.
Generating options amidst political constraints
Jay talks about how he has grown as a politician in all these years. He also talks about Track II dialogues where he is active. These are informal back-channels which can be tremendously helpful in improving the communication and improving one’s understanding of the others’ point of view.
Influencing an ecosystem
Jay discusses he thinks about picking ideas to champion and talks about how you could get a pulse of the acceptance of the idea. He goes on to talk about the criticality of setting up feedback loops for you to get a pulse of the real public sentiment.
Reflections on Politics as a career
All of us have had situations where we step way out of our comfort zone. Nandan talks about his experience from contesting the elections in Bangalore and why he moved on from Politics after that experience.
Politics as a career option
Jay talks about the criticality of financial independence if somebody is considering a career in politics. He also talks about some of the fundamental disconnects between the world of business and politics and how that can lead to challenges in people from the world of business settling into the world of politics.
Lessons for business from politics
Jay discusses how the risk appetite is different in politics is different from that in the corporate world largely because, in politics, unlike in the business world, one has to secure loyalty first before going after performance and that can lead to a very different view on the kind of risks a politician might end up taking.
Assembling an effective team
Vinay talks about how Narasimha Rao picked his team members and think about the portfolio of capabilities in his team. He specifically alludes to the fact that he was self-aware about what he knew and didn’t know and was able to hire best in class talent without feeling insecure. He also talks about how Narasimha Rao brought in diversity of thought across various topics to ensure it was a balanced team.
Driving change when there is short term pain and long term gain
Vinay discusses Narasimha Rao’s strategy to usher in liberalization without too much fanfare given the fragile situation he was in. He shares his thoughts on how some other politicians have managed to drive tough change with the support of the public which involved long term gains (Park Chung-hee in South Korea, Lee Kuan Yew in Singapore) but short term pain.
Building good judgment
Sound judgment is a must have for any leader in any domain. Having a sense of what makes sense all things considered is hard and critical. Zia provides her perspective on what it takes to have good Judgment from a Lawyer's perspective.
Building good business judgment
Suresh talks about the trade-off between long-term considerations like consumer trust and the short-term cash flow pressures. He specifically talks about the considerations that went into them proactively destroying about 35000 tonnes of food (that was arguably of good quality). He also breaks down what it takes create a climate where the people under the take the right decisions even when under duress.
Focus vs Perspective
Devdutt talks about the distinction between Focus (Rana-bhoomi) and Perspective (Ranga-bhoomi). He talks about how when you adopt focus, you see the world from your perspective while when you have perspective you see it as a whole without boundaries. He links this to the business context and talks about the distinction between the healthy side and the dark side of capitalism where companies often over-emphasizing adding value to shareholders (often at the exlusion of some of the other stakeholders that could be impacted).
Building perspective and judgment
Devdutt talks about the distinction between sarpa drishti (focus, short-term) and garuda drishti (perspective, long-term). He talks about how there is merit in having a certain rhythm with which one wears each lens. He talks about the churn that happens between the two when you toggle between them rather than looking at them sequentially. He also talks about the merits of having clarity of the role you are in (CEO, Board, Owner –etc.). He mentions that often, a lot of confusion ensues because people aren’t clear about the role they have been entrusted with.
Balancing the macro and micro views
Jay talks about how he thinks about the macro discussions he has when he is in Delhi or with an international delegation (which is often about solving for the future) and balances it with the concerns of the here and now that people in his constituency are facing. He talks about he manages to combine the bird’s eye view and the worm’s eye view.
Perspectives on Prioritization
Jay talks about the criticality of creating the leverage as a leader to find a mechanism to process the volumes the data that comes to you to be thoughtful about your decisions. He goes on to talk about how he has to balance the need to go after legislative priorities with crises that might erupt in your constituency from time to time.
Building better business judgment
Amit discusses how people get better at judgment calls over time. In an industry where the lead time to feedback is long, this is a significant differentiator over the long-term. He also discusses how, in order to drive disproportionate returns, it is critical to walk the tight-rope between seeking all the inputs required for a decision but at the same time have the courage of conviction to stick your neck out to avoid a consensus evaluation.
Developing a sense of judgment
Roopa talks about she developed a sense of judgment in the new context when she moved to Omidyar Network. She talks about the fact that she now has to exercise judgment on entrepreneurs who in turn will exercise judgment on several topics that are relevant to them. She discusses how she went about acquiring that nuanced sense of judgment by understanding the world of the start-up entrepreneur and the world of technology.
Delivering good judgments
Vinay talks about how the same judgment can have a different journey of implementation depending on the ecosystem in which the judgment is pronounced. He talks about the distinction between barking and biting when he looks at a Judgment. He urges the leaders (Judges, Lawyers, CEOs) to think hard about the ecosystem they are in and the control they have over implementation before they go for a certain verdict.
Making/Not making key decisions
Vinay talks about how Narasimha Rao made decisions or chose not to make decisions strategically depending on the political context. He mentions that often people think of Narasimha Rao as an intellectual but Vinay argues that he was a man of action but also somebody who was acutely aware of his political ability to drive through change.