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Indian Finance Minister’s Leadership Issues Case Study

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Updated: Aug 22nd, 2020

Leadership Analysis

Leadership is the process through which an individual utilizes the support of others in order to achieve preset goals. Successful leadership is often dependent on the qualities of the leaders and their ability to delegate and motivate their followers. Be it in the political or economic domains, leaders must be able to inspire change and create a sense of togetherness in order to succeed in their endeavors. This paper’s aim is to highlight a leadership problem within India’s financial ministry. The factors that have contributed to the problem will be discussed and viable solutions offered.

Description of the problem

According to an article posted in Khaleej Times, India’s economy has been declining over the past few months (Miglani, 2013). This economic slump is partly attributed to a rise in the US interest rates. However, the decline is also a result of poor leadership within the parliament and various policy makers (Miglani, 2013). The leadership problem emanates from a dissonance between members of parliament and other policy makers. Miglani (2013) reveals that the members of parliament are focusing on petty wrangles, instead of developing viable solutions to address a worsening economic situation.

Weaknesses of the Leader

India’s finance minister P. Chidambaram has had numerous challenges in his quest to advocate for policies, which will help avert further economic decline (Miglani, 2013). However, political leaders are yet to see the danger. They are focusing on trivial issues instead of coming up with solutions that may help save the situation. Inability of the leaders to inspire their followers to have a common goal in regard to this issue is the cause of the breakdown in leadership.

Weakness of the followers

According to the article, ministries are operating as individual entities within the Indian government (Miglani, 2013). This has led to differences in the decision making process. The article further reveals Chidambaram’s frustrations and concerns (Miglani, 2013). The financial minister states that if the parliament cannot agree on measures that can be used to revive the economy, the economic situation is bound to get worse (Reuters, 2013). Inability of the ministries to come together and work towards the nation’s interest is indeed the behavioral lapse contributing to the problem.

Leadership qualities required to successfully resolve the problem

Having a vision and effectively sharing the same to followers may help foster cooperation among the distinct groups. As such, the government should develop a vision and formulate strategies to achieve it. Communicating this vision to all ministries will clarify their individual, as well as their collective roles in resolving the financial issue at hand. In addition, sharing a common vision encourages teamwork because it offers assurance that the involved parties are a part of something greater.

On the same note, a good leader should be diplomatic at best. Diplomacy is the ability to influence positive outcomes through unanimity or consensus. Contentions are bound to happen from time to time. However, success depends on how these issues are resolved. As such, if the differences between the ministries are handled diplomatically, acceptable solutions may be developed and agreed upon by all parties involved. This is attributed to the fact that the leaders will be able to negotiate terms that will better the country, as well as the ministries.

Conclusion

As it can be deduced from this paper, the lack of strong leadership may lead to the loss of focus, and a consequent failure within the system. As such, the leaders of the Indian government should reevaluate their leadership tactics if they hope to resolve the economic collapse in their country.

Reference

Miglani, S. (2013). . Khaleej Times. Web.

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IvyPanda. "Indian Finance Minister's Leadership Issues." August 22, 2020. https://ivypanda.com/essays/indian-finance-ministers-leadership-issues/.

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IvyPanda. 2020. "Indian Finance Minister's Leadership Issues." August 22, 2020. https://ivypanda.com/essays/indian-finance-ministers-leadership-issues/.

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IvyPanda. (2020) 'Indian Finance Minister's Leadership Issues'. 22 August.

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