Leadership is moving away from a focus on self-interests towards a more humanity-centered leadership approach. Ngoc Cindy Pham, Assistant Professor of the City University of New York- Brooklyn College, gave a talk on “The Leadership Continuum: From Extreme Self-Interest to Humanity-Centered Leadership” at Sasin Research Seminar. “When hiring a CEO, boards must determine where prospective leaders fall on the leadership continuum,” said Dr. Pham, “CEOs who are extreme self-interest leaders are likely to be destructive to the organization. CEOs who are humanity-centered leaders are likely to be successful in the long run.” Dr. Pham stated that leaders with extreme self-interests or narcissistic leaders initially project charisma and success. However, their leadership style often results in toxic work environments characterized by exploitation, abuse, and disrespect towards employees, leading to high turnover rates. First, she introduced two leadership styles, drawing inspiration from two influential figures: Karl Marx, the revolutionary socialist known for focusing on economic interests and advocating for the working class, and Max Weber, the charismatic German socialist whose leadership revolves around individual interests and needs. Leadership styles can also be categorized based on how managers collaborate with their employees or the public. Dr. Pham provided examples from recent United States presidents—Joe Biden, a consensus-builder who prioritizes collaboration and unity, and Donald Trump, perceived as a divisive leader who often adopts an individualistic and confrontational leadership approach. Drawing upon her Vietnamese background, Dr. Pham shared examples of Vietnamese leaders. Ngo Dinh Diem, the President of South Vietnam from 1955, was considered a weak leader and failed to unite the country against communism. In contrast, Park Chung-Hee and Lee Kuan Yew, perceived as stronger leaders, faced accusations of authoritarianism. Dr. Pham further explored leadership in Thailand following recent elections. Pita Limjaroenrat, a member of the Move Forward Party and newly elected Member of the House of Representatives, represents a contrasting leadership style compared to previous prime ministers. Limjaroenrat is perceived as a young and charismatic leader. Leadership can also further be categorized by how leaders manage revenue. Maximizing Shareholder Value (MSV) is a widely adopted business philosophy centered around maximizing shareholder profits. However, Dr. Pham suggested that MSV managers can be detrimental to companies and economies. By pursuing short-term gains, cutting costs, and layoffs, leaders can hinder long-term thinking and lead to unethical behavior. An alternative philosophy, Stakeholder Capitalism, focuses on creating value for all stakeholders, including employees, customers, suppliers, and the community. Dr. Pham emphasized the benefits of Stakeholder Capitalism, such as long-term investments in research and development, employee training, customer satisfaction, and maintaining a positive corporate reputation. Dr. Pham also introduced the concept of Servant-Leadership as an effective leadership model. Servant-Leadership emphasizes the growth and well-being of followers, fostering a supportive and empowering environment. Characteristics of servant leaders include humility, compassion, and empathy. By prioritizing employee morale, productivity, and job satisfaction, servant leaders contribute to increased innovation, creativity, and the reputation of organizations. However, Dr. Pham acknowledged that servant leaders may sometimes overlook the organization’s needs, potentially hindering its success. “There are some challenges of servant leadership including the need for leaders to be humble and compassionate and the need for leaders to be able to balance the needs of their followers with the needs of the organization,” said Dr. Pham. The corporate landscape is witnessing a shift towards a more human-centered approach. One of the defining characteristics of humanity-centered companies is their focus on hiring employees based on skills rather than solely relying on college degrees. “Candidates should not be hindered by their lack of a college degree, as degrees do not always accurately reflect an individual’s skills and abilities,” emphasized Dr. Pham. Moreover, humanity-centered capitalism revolves around corporations having a higher sense of purpose. According to Dr. Pham, humanity-centered leadership is a potent force for positive change, elevating millions out of poverty and generating unprecedented levels of wealth. “As more businesses embrace humanity-centered capitalism, the potential to transform the world for the better becomes evident,” Dr. Pham said, “These businesses are demonstrating that it is possible to make profits while simultaneously creating a positive impact on the world.” However, Dr. Pham acknowledged that implementing humanity-centered capitalism is not without its challenges. It demands a fundamental shift in how businesses perceive their purpose and role in society. In addition, it requires making trade-offs between profitability and social responsibility, as well as embracing calculated risks. Despite the obvious benefits of human-centered leadership, Dr. Pham presented contrasting research that highlights the potential success of narcissistic and profit-focused leaders. One study found that corporations with narcissistic leaders have fewer instances of corporate misconduct and pay lower fines and penalties (Donker, H., Nofsinger, J., & Shank); however, this may be attributed to their ability to cover up mistakes. Another example of leadership that is not solely based on human-centered leadership principles is Lee Kuan Yew, the first Prime Minister of Singapore. He was criticized for being an authoritarian, despite playing a crucial role in transforming Singapore from an underdeveloped nation into a prosperous and modern city-state. Additionally, Dr. Pham discussed the tenure of Jack Welch as CEO of General Electric (GE). Welch’s leadership style focused on streamlining operations and divesting underperforming units, which resulted in the growth of GE’s market capitalization from around $14 billion to over $400 billion. As organizations are evaluating their leadership approaches, the world will lean toward human-centered capitalism encouraging a more values-based mindset. By aligning profit generation with social responsibility and good governance, businesses can forge a road to a more inclusive and sustainable future.