Organisations that, during times of turbulence, cope better are agile and are able to move quickly and opportunistically in dealing with change.

One must always take the long-term view. It's easier said than done but calmness under pressure, to not overreact too quickly, are good leadership qualities.

A combination of listening and humility coupled with a professional determination are also critical qualities for directors—a kind of steely will, but at the same time a sincere humility and integrity.

During economic declines or recession it's important to continue to try to run a sustainable business. Not only in the context of coping with the environment but in terms of the organisation's strategy, its agility and responsiveness.

The neo-liberal model of capitalism, with its associated efficient market hypothesis, has to quite a large account been discredited in recent times. A model that I would advocate is a form of capitalism called socially responsive capitalism. Its characteristics include a willingness to focus on sustainable development; stakeholder engagement, from one's customers, clients and staff; corporate social responsibility; and a strong emphasis on social entrepreneurship.

Since the traditional view of capitalism, that the business of business is business, has been discredited and found wanting, I would wish to phrase it as the business of business is sustainable business.

Today, more MBA graduates are looking to establish their own business or come from the social sector and are looking to find the ways and means of growing and expanding social services, NGOs and welfare organisations. It's not the case anymore that MBA graduates gravitate towards financial services or management consultancy. The diversity of career choices of students at schools of management is more heterogeneous than it might have been in the past.

I've had the privilege to have lived and worked on four continents. It's been a great opportunity for personal growth.

I've learnt how to understand and work with complexity. Many of the environments I've worked in are emerging markets undergoing fundamental political and socio-economic transition. One has to learn the importance of, and sensitivity to, diversity.

Leading complex organisations in a transitional political economy is a remarkable learning process. I think another feature of what one has learnt is what I would call constructive engagement and the act of listening.

I have a belief and confidence in emerging markets. They will continue to grow and offer good opportunities for foreign direct investment.

Effective leadership is not really about one's technical knowledge but about one's ability to establish and foster relationships with people and to show passion for what you do. I'm a strong believer in that.