A lot of present leadership challenges being observed can be tackled by maxims suggested by legendary economist Adam Smith more than two centuries back. Considered the first modern economist, Smith inculcated a lot of his ideas through observation of practices on factory floors in Glasgow at the peak of the city’s commercial fame. However, he was also an advocate of ethical practices, so spoke against the harsh treatments meted out to Native Americans, Africans and Indians by his fellow Europeans. One could argue that he wrote amongst the first treatises on talent management when he spoke against business leaders who would move employees around like pieces on a chessboard. He felt that this attitude of knowing best of others’ interests arrived out of deep hubris. He also spoke about a keen sense of self-awareness, by warning against the ill-effects of corruption stating the instance of the British East India Company as an example. Business benefits need to be maximized while mitigating harmful social costs.


Uploaded Date:19 January 2018

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