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Nikunj Kumar Jain (International Management Institute, Delhi (IMI)); Vikash Kumar (Milestone HR Solutions)
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9 pages
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Raghuram Rajan (Rajan), 23rd Governor of the Reserve Bank of India (RBI), is well-known for his knowledge and frank views on the situations and challenges in the Indian and global economy. Raghuram Rajan has a global profile as the former chief economist of the International Monetary Fund (IMF) and was often endorsed by some analysts for having predicted the 2008 global financial crisis. In India, he has been recognized as champion who could control inflation and improve the central bank. This case study has been built on the lessons of leadership style of Raghuram Rajan and presented a practical example of authentic and servant leadership. Authentic leaders are authentic in nature; they stick to their ideals; share information with followers; and encourage open communication with others. Rajan's style of working as an authentic leader infused the hope and trust into the system and institution. Servant leadership put the development of followers first. They emphasize on persuasion rather than the power and own self-interest. Rajan was able to pursue his conviction even in the presence of central government of India. Characteristic behavior of the servant leadership include listening, empathizing, persuading, accepting stewardship, and serving the needs of the others. These traits were quite reflective in his working as Rajan revamped the working environment of the RBI and encouraged the morale of the colleague and co-workers. The case study provides practical implications of authentic and servant leadership drawn on the leadership lessons of Raghuram Rajan in managing the RBI.
Learning objectives:
1. To evaluate the leadership style of Raghumram Rajan. 2. To describe the dimensions of authentic leadership and servant leadership. 3. To evaluate the appropriateness of authentic and servant leadership to other contexts. 4. To analyze decision-making in a complex environment with a long term sustainable and growth perspective lens.
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