What do economics and music have in common? To some nothing, to others, a lot. Economist Kaushik Basu falls in the latter category. In a recent lecture, strewn with mentions of classical and modern economists, Basu shared a pearl of wisdom he picked up from a musical conductor.
“When I’m talking of space and creativity, there is this thing that I had heard from a British music conductor that is stuck in my head,” Basu told the audience. The conductor in question was Charles Hazlewood, who told Basu that one can get “pretty good music from an orchestra by giving very hard instructions to all the members of the orchestra” by asking them to follow his instructions to the T. “But if you want magical orchestra, you want trust. People must be excited about this and you must give them some space to innovate, do things differently,’” he told Basu.
The economist in Basu applied this to his line of work. “I think this (Hazlewood’s idea about conducting the orchestra) is true of corporates. If people think that there is a whip that is going to make them listen, there are a thousand ways in which they can sabotage effort. If people feel that the collective effort is worthwhile, they tend to make an extra effort,” Basu said. Moral of the story: give them space to spread their wings, and take flight.
Happy Birthday, Sourav Ganguly! And Thank You For These Leadership Lessons
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Sourav Ganguly, one of India's most successful captains, has been a powerful guiding-force to every cricketer.
Dada has time and again proved that the 'art of captaincy is not theory, but practice'.
On his 46th birthday, here are inspirational quotes by the Bengal Tiger that will make you a better leader.
Sourav Ganguly, one of India's most successful captains, has been a powerful guiding-force to every cricketer.
Dada has time and again proved that the 'art of captaincy is not theory, but practice'..
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Dada has always believed in leading his own way, and creating a new template for success.
Dada has always believed in leading his own way, and creating a new template for success.
Ganguly made his team members strive to achieve the goals and face the reality.
Ganguly made his team members strive to achieve the goals and face the reality.
Ganguly always believed that people can excel in their job if they rise to the challenges and prove themselves.
Ganguly always believed that people can excel in their job if they rise to the challenges and prove themselves.
Dada knew dealing with the members of the Indian cricket team, dodging criticism and proving everyone else wrong is a part of the game, and he managed to handle it all with poise.
Dada knew dealing with the members of the Indian cricket team, dodging criticism and proving everyone else wrong is a part of the game, and he managed to handle it all with poise.
Ganguly has been Team India's knight in shining armour. He was admired for his leadership skills and winning spirit.
Ganguly has been Team India's knight in shining armour. He was admired for his leadership skills and winning spirit.
Ganguly has always been controversy's favourite child. He made us realise that criticism is part and parcel of professional life.
Ganguly has always been controversy's favourite child. He made us realise that criticism is part and parcel of professional life.
The Maharaja of cricket's trick to keep calm and move on was through music.
The Maharaja of cricket's trick to keep calm and move on was through music.
