1 Thriving in 2024: Empowering Thai Leaders for Global economy Success

  • Global economy set to grow in 2024, per forecasts
  • Thai leaders face challenges bridging generational gaps
  • Stress levels high, reshaping employer-employee dynamics
  • Shift from product-centric to solution-oriented approaches
  • Diversity increases, requiring adaptive leadership
  • Analysis of external pressures and team dynamics essential
  • Continuous evaluation of leadership strategy effectiveness
  • Open communication, feedback sessions crucial for adjustment
  • Investment in leadership development and training recommended
  • Active participation in professional networks for insights
  • Importance of self-awareness in leadership growth
  • Arinya Talerngsri emphasizes education transformation for global impact.

global economic

Global economy Introduction

As key business groups and the World Bank foresee worldwide economic growth in 2024, Thai leaders find themselves at the centre of a revolutionary time. This expansion, however, comes with its own set of obstacles. Leaders must address issues like as closing generational gaps, encouraging mentorship between younger and older staff, and rethinking the dynamics of employer-employee interactions. During these developments, stress levels across all employees have reached new highs, necessitating a rethinking of how leadership and collaboration are addressed.

Importance of Leadership Context

Understanding one’s leadership environment is critical when organisations shift from product-centric to solution-oriented approaches. This transition offers problems for industry actors and necessitates contextual leadership in an environment that is becoming more diverse, multigenerational, and always evolving. The dynamics that worked in the past may no longer be applicable in this shifting world.

Adapting To Change

To respond to these changes, leaders can take a number of strategic initiatives. Analysing the present business climate and organisational changes is critical. Identifying changes in external influences, employee morale, and team dynamics enables the development of more successful solutions. Soliciting feedback from employees, consumers, and stakeholders is critical in identifying areas that require improvement.

Leaders should assess the effectiveness of their existing leadership strategy, noting any gaps in skills, knowledge, or communication. Open communication, through frequent meetings and feedback sessions, allows employees to express their opinions and concerns. Allocating resources and time for leadership development and training is critical to improving abilities required in the changing context.

Monitoring and Adaptation

Continuously monitoring the impact of these changes is critical. Based on comments and results, leaders should be willing to make additional changes to ensure long-term success. Active engagement in professional networks and conferences yields significant insights into best practices and new solutions.

Leadership Development

Tasha Eurich, an organisational psychologist, found that while 90% of people feel they are self-aware, less than 15% are. Leadership development entails being receptive to feedback, striving self-improvement, regulating emotions, and establishing accountability. Understanding one’s leadership style is especially crucial during times of change, as it helps with self-management, effective team communication, and understanding the influence of one’s actions on others.

Global economy

Leaders must constantly assess and adjust their strengths and limitations as skills and roles change. Rebuilding self-awareness is critical for directing and motivating change in others. According to the Bangkok Post, Arinya Talerngsri, Chief Capability Officer, Managing Director, and Founder of SEAC — Southeast Asia’s Lifelong Learning Centre, emphasises the importance of reforming education to generate better opportunities for Thais and people throughout the globe. Embracing growth necessitates not only an emphasis on external forces, but also a dedication to internal leadership development and adaptation.


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