Development of Future Leaders: A case study on the Bank of Thailand (BOT)
Academic Leadership - Online Journal,
Vol. 6 No. 1 (2005): Vol-6-Issue-1-January-2005
In the chaotic, volatile and complex business environment at the present time, an organization must be
able to learn from and adapt to changes in order to enhance competitive advantage. As a result,
leaders who make strategic decisions must adopt a new mind-set as new realities emerge and
encourage strategic flexibility across and within their organizations (Hitt, Ireland, & Hoskisson, 2005).
There are two significant factors to be strategically flexible on a continuing basis including leaders must
develop an organization vision with a corresponding strategic plan and have the ability to manage
changes (Zaccaro & Banks, 2004). Vision and leadership are the requisite for organization’s success
and survival (Fechter & Horowitz, 1991; Nanus 1992).