Navigating legacy and change: Southeast Asia's next generation of leaders are shaping tomorrow
Photo by Rogan Yeoh on Unsplash
This summer has felt like a time of rebirth across Southeast Asia. As Singapore, Malaysia, and Indonesia commemorate their National Days, we collectively bid farewell to our colonial past. New leadership across the region signals the start of something transformative. In Singapore, this change is embodied by our fourth Prime Minister, Lawrence Wong, who is beginning to chart a new course after two decades of celebrated leadership under Lee Hsien Loong.
While it feels today that things are always in motion and changes are nothing new, the leaders of today face some distinct challenges. Never before has such a generational gap coexisted in the workforce. Technology and AI now enable what was once considered science fiction. Climate change and global warming are increasingly acknowledged realities, with sustainability becoming a top priority.
Many companies founded in post-war Southeast Asia are now transitioning to second and third-generation leaders. Many of these leaders find themselves in a unique position—carrying the weight of a great legacy and years of success, yet recognizing that they cannot rely on the legacy of the past to succeed in an increasingly uncertain world.
At Within, we work closely with leaders to navigate the future. We have identified eight key qualities that we see as essential to growing 21st century business (read all eight here!).
As we reflect on the shifting regional context of Southeast Asia, we have identified three crucial qualities of local leaders as they envision future success: courage, vulnerability and conviction - and bring the qualities to life through stories of remarkable leaders we have met in Singapore and Malaysia.
Courage - to try and change
The legacy of business success often places significant pressure on new leaders when they attempt to innovate and implement change. The common response is “if it isn’t broken, don’t fix it,” especially from those who are content with the status quo. In these moments, having the courage to experiment and introduce new approaches in order to prepare for the future is crucial. This often requires challenging conventional wisdom and embracing the risk of failure, with the understanding that the potential rewards may be substantial.
Eric Ng - Swee Heng Bakery
At the recent Bakers’ Symposium 2024, second-generation bakery owners discussed the challenges of managing family businesses. Among them was Mr. Eric Ng, who, with his family, runs Swee Heng Bakery. Founded in 1989 by Mr. Ng Chai Huat and Madam Ong Chu Eng as a small pastry shop in Yuhua Village, Swee Heng has grown to 90 outlets across Singapore.
Eric explained that family-run businesses like Swee Heng often have a deep emotional connection to the founders' legacy, which can make change and modernisation challenging. To navigate these hurdles, they have stayed committed to the family’s principles - serving their customers and community, focusing on delivering quality products at accessible prices to ensure loyalty and drive growth. Strong communication with employees and solid partnerships within the industry have also been essential, enabling Swee Heng to innovate and swiftly seize new opportunities.
Eric’s guiding principle is straightforward: “If you have an opportunity, take it—and take it quickly.”
Conviction - to stay the course
It is not uncommon for business leaders to abandon ideas when under pressure. Conviction is essential—to persevere and follow through on commitments, even when faced with difficulties. Transformational changes often yield results only after a period of perseverance, and it requires steadfast determination to continue on the path, even when the future seems uncertain.
Reza Cockrell - The Habitat Penang Hill
An environmental discovery centre together with its NGO arm The Habitat Foundation, The Habitat Penang Hill was founded by father and son Dato’ Harry Cockrell and Reza Cockrell, with a mission to protect and celebrate the natural habitats of Penang. The Habitat Foundation successfully applied for a UNESCO Biosphere Reserve designation for Penang Hill, and together with its commercial arm, continues to advocate for the protection and celebration of the natural ecosystems on the Hill.
For Reza, the commitment towards environmental sustainability has always been and will always be a priority. “ The future of any business that we do has to be a responsible business … That is something that we had no doubt about from Day 1.”
Vulnerability - to live with and thrive in uncertainty
Courage and conviction often come with fear. While the leaders of yesterday were encouraged not to show emotion, we now celebrate leaders not only for their achievements, but also for their humanity. To be human is to experience fear, sadness, disappointment, and anxiety. Demonstrating vulnerability and having the courage to be open about these emotions, especially during hardship, inspires others to join in the journey of change.
Lee Sok Leng -ARTualize
When her father, the renowned Singapore second generation Nanyang artist passed away leaving her a gallery filled with a lifetime of passionate work, Lee Sok Leng decided that it was her responsibility to continue his legacy by creating a business that shines a light on local art and artists. Previously an accountant, Sok Leng had to slowly learn the ropes around starting and running ARTualize, an art gallery that exists to bring the joy of Singapore arts to all. Sok Leng remains honest and humble in the pursuit of her purpose, and has created a community of supporters around the work that she does.
“ ARTualize is a gallery born out of love, love for family, friends and art. This is how our simple story began, and we hope you too, can be part of our story of love. ”
The next generation of human leaders
In Singapore, our favourite words are productivity and efficiency, and that won’t change anytime soon. We often associate these ideals with flawless systems and seamless processes, but it is people that drive businesses forward.
We need leaders who inspire - by being honest when they are not at their best, persevering when they face hardship, and choosing courage when heading towards uncharted territories. It is our humanity that drives progress, leading to a more resilient and adaptable future.
How might courage, conviction, and vulnerability support your own leadership journey? Get in touch to find more about our leadership frameworks, coaching and development frameworks