Over 1700 gather for 2011 Discovery Invest Leadership Summit

Joining them on stage are Wired Magazine editor-in-chief Chris Anderson, professor of psychology and behavioural economics Dan Ariely (Duke University, US), Brazil's Semler SA group MD Ricardo Semler, New York economics professor Dr Nouriel Roubini, and CIDA CEO Taddy Blecher.

The 2011 leadership summit, which is themed 'Lead by Examples' and now in its third edition, has been instituted at a crucial time - when the quality of leadership has dramatically deteriorated not only in dictatorial establishments, but also in Europe, the US and Japan, seen in the past by many as the 'perfect world'.

In his opening remarks, Discovery Holdings CEO Adrian Gore said leadership, which is the solvent of complexity, cannot be overstated especially during these complex times. "We desperately need good leadership not only in government, but also in civil society and in any other structure," Gore said.

Marginal change has no solutions, Brazil-based Semler said, adding that what people learned at school or any other institution is now in the past. "We set ourselves up in doing things with the illusion of control, but in reality we don't have control of events," Semler, author of bestsellers Maverick and The Seven-Day Weekend, said.

"There are new ways. We have to break clear from what we've been doing. We can no longer base our corporations on the values of the world that is falling apart [the West]."

Ramos, ABSA CEO and a former Wits University economics student, lashed the West for their sheer human greed and poor financial management that drove the global economy to the brink of collapse.

This, Ramos said, has given Africa and Asia a huge opportunity to become the dominant players in the global economy.

But she believes lack of competitiveness, unethical practices and corruption, among others, in these parts of the world may not turn this dream into reality.

"Take the example of Nigeria, which has a very large market and sophisticated business environment," Ramos noted.

However, she said corruption, government inefficiencies and problems with ethics, and not harnessing the desire of acquiring latest technologies are hampering the country's level of competitiveness.

Pockets of excellence and human potential need to be similarly developed, adding that an educated, healthy, highly skilled and self-sufficient workforce must be the key foundation of any emerging market, she said.

"Economic growth does not guarantee equity," Ramos said. "Therefore government policies must be formulated in a manner to ensure that poor citizens benefit from the economic boom and disenfranchised communities are brought into the economic scene."

Ramos, whose company is a member of UK's Barclays Bank, was named Outstanding Businesswoman of the Year in 2009.