Technology adoption and management, external awareness, and the ability and willingness to learn - all ranked low in importance as competencies for the traditional economy - are now seen as very important.
The research among new and old economy leaders also identifies a much greater requirement for speed in decision making and coaching/mentoring.
By contrast, 'vision' remains at the top of the list of most important competencies identified by business leaders. However, integrity has disappeared from the list of top 10 leadership requirements for the new economy - particularly as rated by new economy business leaders - while being seen as the second-most important leadership quality in the old economy.
Full courses on ethics in Indian business schools are suggested as one way of contesting the apparent new economy mindset; policymakers also need to ensure there is a decisive monitoring authority for transgressions.
Changing Demands of Leadership in the New Economy: a survey of Indian leaders
Ajai S Gaur, IIMB Management Review, Vol 18 No 2, June 2006
Review by Steve Lodge