Demystifying thought leadership in the Malaysian service industry

Abstract

It is worth to have further in-depth discussion with the emerging importance of the term: Thought leadership. Creating a thought leadership culture is beneficial. Thought leaders are the trusted sources who play important role in inspiring people with the realization of innovation ideas. Time passes, thought leaders provide transformational influence on the industry, focus niche or even across the entire world. Today, thought leadership is not possessed by an individual, but also tied with the organization. Some companies embraced thought leadership qualities and had been recognized as thought leadership companies. There are differences between thought leadership and traditional leadership, especially in the aspects of authority level, leadership style, information sharing and way of solving issues. Looking at and analysing the largest industry contributor to the Malaysian economy: Services industry, there is a lack of revolutionary and visionary thought leaders. This highlights the sense of urgency in taking drastic measures in cultivating thought leadership in the service industry. Ways of implementing thought leadership has also been mentioned such as stand out from the talent pools and grab industry experts’ attention. Several common mistakes that companies should prevent were also highlighted such as copying others, lack of strategy, delivering low-quality content, misleading self-perception and emphasis on self-promotion.