Leadership Style of Deepak Parekh

Topics: Leadership, India, Management Pages: 6 (1828 words) Published: March 5, 2013
Good Leaders are made not born. If we have the desire and will power we can become an effective leader. Good leaders develop through a never ending process of self-study, education, training and experience. Leadership is a process whereby an individual influences a group of individuals to achieve a common goal.

A leader must have an honest understanding of who he or she is and what he or she can do. To be successful a leader has to convince his followers to give their best so that they achieve a common goal. The leader has to be practical and realistic, yet must talk the language of the visionary and the idealist. One of the most important qualities a leader must have is vision. No matter how much hard work is put into the attempt unless a leader has in sight the goal, is focused on it and then paves the way to reach it, little can be achieved. With this definition, Deepak Parekh, chairman, Housing Development Finance Corporate Ltd (HDFC) makes for a perfect example. For, not only has Parekh steered the company into one of India’s top housing companies, it has brought to fruition the dream of lakhs of middle-class Indians of owning houses. Both the company and Parekh have come a long way since he joined it in 1978 as deputy general manager. He was appointed as the managing director of the company in 1985 and made the chairman in 1993. So strong is Parekh’s connection with the organisation that he is heard to have said that it would be difficult for him to stay away from HDFC after his retirement.

Deepak Parekh was born to a banker in Mumbai on 18th October, 1944 in India. He completed his schooling from St. Xaviers School, Mumbai. Thereafter he pursued his Bachelor of Commerce degree from the Sydenham College of Mumbai University. Although a shy and average student in school and college, his personality blossomed when he moved to Britain to pursue his higher studies. He completed his CA studies from the institute of Chartered Accountants in England and Wales (ICAEW). 2.1 CAREER

Mr. Parekh started his career as a chartered accountant in Ernst & Young Management Consultancy Services in New York as a chartered accountant. When he came to back to India, he worked with Grindlays Bank and Chase Manhattan Bank as the assistant representative for South Asia. In 1978, he joined HDFC (Housing Development Finance Corporation Ltd.) which was founded in 1977 by his banker uncle as a Deputy General Manager. He was promoted as the Managing Director in 1985 and thus became the Chairman in 1993. Besides this, in 1997, he became the Non-Executive Chairman of IDFC (Infrastructure Development Finance Company Ltd.) which is a Government enterprise for projects of infrastructure. He also served as the Non-Executive Chairman of Glaxo India Ltd. till 2008 and is the Chairman of Burroughs Wellcome (India) Ltd. and worked on the Board of Castrol India Limited, Hindustan Unilever (since 1997), Siemens Ltd, Mahindra & Mahindra (since 1990) and Indian Hotels Company (since 2000). He is a member of the proactive advisory board of the world's biggest student determined organization AIESEC India. Along with this, he has also been a part of several Committees made by Indian Government. In 1964, he was made the Chairman of the high level of expert committee which was formed to suggest the ideas for the growth of the Unit Scheme. He was appointed the Chairman of the Advisory Group for Securities Market Regulation by the Reserve Bank of India. Later on, he became the Chairman of the National Thermal Power Corporation Ltd. He has served the Singapore Telecommunications Ltd. as a Non-Executive Independent

Director, has been a Director of WNS Global Services Pvt. Ltd. and a Director of Steel Authority of India Ltd., Airports Authority of India and Lafarge India 2.2 JOURNEY AS A LEADER
HDFC which began as a first of its kind mortgage provider to the Indian living class household over the...
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