such pressures can emanate from the high expectations of the different stakeholders, the crisis conditions or from the failure of other parts of the public sector that have implications on your performance. however, being strategically focussed and having the ability to stay on course avoids being derailed by such pressures. eighth, is then courage and bravery to undertake the responsibilities. at the extreme it requires having nerves of steel. this is to enable sound decisions at the time of high level of distress and ensures that the organisation remains calm and cohesive during such times. ninth, is having the drive and unwavering perseverance to pursue the vision. the agenda of public sector which is to ultimately improve the well being of its citizens is a long haul business which therefore requires perseverance. it often requires several pre - conditions to be in place, it requires having the enabling environment and the different parts of the public sector to come together to act cumulatively to deliver the results. frequently, this synchronisation does not happen. strong convictions on the cause, reinforced by the capabilities and supported by the perseverance increases the potential to produce results that makes the difference. finally, and most importantly is the ability for continuous reinvention. the changing environment is more globalised, more competitive, more uncertain and ambiguous, more technologically driven, more prone to crisis, and is subject to greater scrutiny and demands for greater transparency. this more difficult operating environment demands new skills and abilities to manage these new challenges. indeed, the role of leadership is dynamic and has changed considerably. reinvention is to support the ability to creatively respond to change. building effective organisations to strengthen our ability to manage the new challenges arising from the changed environment, equally important is building effective organisations with the capabilities that will deliver results. this will involve organisational reviews and the continuously modernising of the organisation so that it can continue to best serve the nation. such endeavour will require periodic environmental scans and envisioning to revalidate the strategic thrust of the organisation. modernisation efforts then need to be supported by a blueprint of the strategic steps and initiatives that need to be taken. women that have the capability must be brought in at the leadership levels to participate in this process. to increase opportunities for women would require opportunities for education and for the acquisition of experience and exposure. after formal education, it is experience and expertise gained from coaching and mentoring that will further enhance an individual ’ s contribution to organisational effectiveness. in a modernised

zeti akhtar aziz : advancing women ’ s leadership in public life speech by dr zeti akhtar aziz, governor of the central bank of malaysia, at the women in leadership forum “ power sharing in the public sector ”, kuala lumpur, 22 february 2011. * * * introduction in this twenty - first century, it is human capital rather than physical capital that will define performance and progress. women represent half of the world population and therefore half the potential resource that can drive such performance. this is reinforced by the more recent trend that increasingly, the majority of those with college education are women. increasingly therefore, this group represents a more significant resource potential that can rise to leadership positions. in emerging economies, where such high powered talent is scarce, gender has not been of an issue. women have risen to leadership positions based on their merits and capabilities. women in malaysia have certainly made significant strides in their participation in all segments of the malaysian economy and have demonstrated their ability to lead and to succeed in both the public and private sectors. it is my honour to be here today to speak at this women in leadership forum on the topic on “ advancing women ’ s leadership in public life : power sharing in the public sector ”. in asia, in particular, women have risen to key positions and have been given the opportunity to contribute to the nation ’ s progress and development. in an age of greater demands for performance and in an environment of increased scrutiny and transparency, the transition to such leadership positions has not been based on gender. indeed, it is based on the capability as administrators, policy makers and thought leaders. power sharing is therefore the shared power to contribute to the nation rather than on the power that is wielded. my presentation today will therefore start on the role of the public sector and its accountabilities before discussing women and leadership in the public sector, its challenges and some strategies for success. accountabilities of the public sector the role and accountabilities of the public sector differs markedly from the private sector. unlike in the private sector, financial measures are generally not the indicator of the performance of agencies in the public sector. in addition, actions taken by the public sector have far reaching implications on the economic well being of the public at large and entire spectrum of businesses. such actions may even have implications on other countries given the greater international interdependence that prevails in the current environment. the responsibility and accountability is therefore immense. history has shown that