Term Paper

On

“LEE KUAN YEW”

Course Code: BUS6307

Course Title: Business Leadership

Submitted to

Dr. Ziaur Rahman

Associate
Professor

Faculty of Business
Studies Bangladesh
University of
Professionals

Submitted by

Fatema Islam
Ria

ID: 2023021008

Batch: MBA-20(Regular)
Faculty of Business
Studies
Bangladesh University of Professionals
1
Date of Submission: June 14, 2021

2
 Letter of Transmittal

June 14, 2021

Dr. Ziaur Rahman
Associate Professor
Faculty of Business
Studies
Bangladesh University of
Professionals Mirpur, Dhaka-
1216

Subject: Submission of Term Paper on “LEE KUAN YEW”

Dear Sir,
With due respect, it is my pleasure to submit term paper on “Lee Kuan Yew”.
While preparing this term paper I have tried my level best for using the most
recent, updated and authentic information.

To prepare this paper, I have given my best effort to accumulate needed

information. However if you need any clarification regarding this, I would be
honored to clarify anything related to my paper.

Yours
sincerely,
Fatema
Islam
ID:
2023021
008
Batch: MBA-20(Regular)
Faculty of Business
Studies
Bangladesh University of Professionals
 Acknowledgement

First of all, I would love to thank Almighty Allah. I have completed the paper
successfully with His blessings. I would love to express my deep gratitude to our
respectable instructor Dr. Ziaur Rahman, Associate Professor, for your valuable
time, continuous assistance, inspiration, and great appreciation to prepare this term
paper on “Lee Kuan Yew”. I am grateful for your guidance and constant
supervision to fulfill this Term Paper.
Finally, I would love to extend my gratitude to my parents and a few friends for their
continuous support, patience, and encouragement throughout my studies.
 INTRODUCTION

Lee Kuan Yew (16 September 1923 - 23 March 2015), commonly known as LKY, was
the first prime minister of Singapore who was famous for his deeds in his regime that
reigned for more than three decades. LKY completed Law from Fitzwilliam College, in
Cambridge, UK. In 1950, he was admitted to the English Bar. But, LKY returned to
Singapore and practiced law as a legal adviser to the Postal Union. He participated in
negotiations to obtain higher wages for postal workers and subsequently did similar work
for other trade unions.

A governor and a legislative council, mostly comprising wealthy Chinese businessmen

who were appointed rather than elected by the people, ruled the country. In the early
1950s, Singapore buzzed with talk of constitutional reform and independence and LKY
banded with other like-minds to challenge the governing structure of the country. Taking
a more radical step he co-founded People's Action Party (PAP) in 1954.

The Singaporeans who were witnessing an excellent leadership right from the beginning
in 1959 trusted his vision and passion to make Singapore great. From the initial days, his
influence was noticeable through his values and high appeal for execution. LKY was an
emotionally intelligent person yet very assertive. His actions always aligned with his
authenticity. His vision and execution of his plan for a positive change make him a
transformational leader.

The reason for choosing LKY is for his leadership style i.e. transformational leadership.
Transformational leadership is a theory, which describes a leader as someone whose
powerful traits drive followers to devote themselves to revolutionary changes. A
transformational leader is the one who has charisma as one of the major approaches to
influence followers and accomplish daunting goals. LKY is one great example of such a
leader whose leadership style, traits, roles, and influence was viable to change the face of
Singapore immensely within just few decades. We believe that there is a lot to learn from
an inspiring personality like LKY, his style of leadership has changed the layout of
Singapore in just a single generation of leadership despite many obstacles that came
along his way.
 Early Life

Lee Kuan Yew was born on September 16, 1923. Singapore politician and lawyer who
was prime minister of Singapore from 1959 to 1990. During his long rule, Singapore
became the most-prosperous country in Southeast Asia. Lee was born in Singapore
during British colonial rule, which was part of the Straits Settlements. Lee was born into
a Chinese family that had been established in Singapore since the 19th century. He was
born to middle class English educated family. His father name is Lee Chin Koon and
mother name is Chua Jim Neo.

He has three brothers: Dennis Lee, Freddy Lee and Lee Suan Yew, and one sister,
Monica Lee. The family was prosperous, and his father received an English education.
Lee’s father works as a store keeper & depzot manager for the shell oil company.

Education:

He studied at the prestigious Raffles Institution, and stood first in Singapore and
Malaysia in the Senior Cambridge exams. Awarded an Anderson Scholarship to Raffles
College, he studied there between 1940 and 1942.
When World War II ended, he went to study in England. He graduated with a rare Double
Starred Law Degree from Fitzwilliam College, affiliated to the University of Cambridge.
After World War II, Lee studied law at Fitzwilliam College, in Cambridge, UK. In 1950,
he was admitted to the English bar, but instead of practicing law there, Lee returned to
Singapore to do so.
 Political Career

Lee started his political career under a Pro-British Progressive Party as an election agent.
Soon after, In 1954 he co-founded the People’s Action Party (PAP) with the aim of
ending British colonial rule and attaining self-governance for Singapore. On 5 June 1959,
Lee became the first Prime Minister of Singapore when PAP won the most seats in the
legislative assembly.

To end the British rule, Lee pushed for a merger with Malaysia. The Federation of
Malaysia was formed on 16 September 1963, but the integration proved to be unsuitable
for both sides. Just two years later, the then-Malaysian Prime Minister decided that
Singapore should leave the federation.
The choice to leave was the lowest point of Lee’s life, but also the turning point for
Singapore’s success. Although Lee was in anguish at that point, he never gave up on his
vision for Singapore. With Lee at the helm, an independent Singapore developed into the
thriving metropolitan city it is today.

After stepping down as Prime Minister in 1990, Lee served as Senior Minister and then
Minister Mentor in the government, advising the country’s new generation of leaders on
national issues.

Due to Lee Kuan Yew, Singapore Is A Success Story

Singapore has been called the 20th century's most successful development story.
Singapore is one of the world’s successes stories, and Lee is the man behind it. One of
the most influential leaders of the 20th century, Lee was an autocrat whose tiny island-
state became one of the richest places in the world, and a role model for other
governments in Asia and beyond. Although many critics question his style of leadership
and describe it as autocratic and dictatorial, Singapore’s meteoric rise as a city-state is
undeniable. In 50 years, Lee transformed Singapore from a trading port which was to be
rejected by Malaysia, into one of the Richest, Safest & most orderly countries in the
world. Singapore has little land and no natural resources. But after its independence in
1965, the former British colony was transformed into a major manufacturing and
financial center. The late conservative economist Milton Friedman described Singapore
as an example of how to do development right.

Some of the biggest sectors domestically — shipbuilding, electronics, banking, and now
they're very involved in private banking — got their start because Lee Kuan Yew and the
government specially directed state funds into those areas.

Conservatives see Singapore as a free-market success story. Low taxes, few capital
restrictions and liberal immigration policies have made it one of the most cosmopolitan
places on Earth. "They have very, very free trade, very low tariffs [and] very few non-
tariff barriers," says Josh Kurlantzick of the Council on Foreign Re The government also
provided social services like housing and health care, in a way liberal economists
applauded. 

Lee himself believed Singapore's growth was tied to the shared values of its different
ethnic and religious groups.

Leadership Lessons
1. Say it as it is

One of Lee’s most apparent qualities was his straightforwardness. He was not afraid to be
blunt about what he saw as the truth. This approach came across as too abrasive for some.

Still, the ability, to be honest, is key for a leader. The best thing you can do for your team
is to acknowledge and speak the truth. It might ruffle a few feathers, but to allow your
team to face reality is probably the best thing you can do for them.Although some might
be offended or feel uncomfortable, you will gain a lot of respect for doing so. People
know that they can trust you.

2. Plan your leadership succession

Lee planned for succession years before he stepped down as Prime Minister. He saw the
importance of grooming the next generation to lead the nation. As the saying goes, there
is no success without a successor.

Your organization must transcend you, and you must be humble enough to acknowledge
that. Strive to build a team centered around a mission or purpose instead of an
organization focused on you.

Be generous with sharing your experiences and advice with the next generation of leaders
that you are grooming. Equip them with the information and knowledge they’ll need to
 continue growing the organization. A great leader will ensure that those that step into his
shoes have the best chance of success.

3. Stay tenacious

Lee went through his toughest period during the separation of Malaysia and Singapore.
him shedding tears on public television marked one of Singapore’s most historic
moments.

However, even with this setback Lee never gave up. He strengthened his resolve and
continued to believe that he could develop Singapore into what he envisioned it to be. A
leader must have this resolve to press on no matter how difficult the circumstances. It is
this quality that separates the good from the great. Anyone can lead well when conditions
are favorable, but it is your conduct in times of adversity that distinguishes you as an
excellent leader.

4. Transformation
Transformational leadership requires creating an environment where people want to work
hard to achieve for themselves and the group. LKY transformed Singapore both
physically and culturally. He championed home ownership, education for all, national
service, and a green city program to give every Singaporean a stake in the country.

5. Succession Planning
Many leaders fail to groom their successors or hang on too long! LKY worked hard to
ensure a smooth leadership transition to the next generation.

LKY handed over to Mr Goh Chok Tong on 28 November 1990, but continued to advise
the government on important issues for another 21 years, first as Senior Minister under
Mr Goh and then as Minister Mentor under Mr Lee Hsien Loong.

A successful legacy will be a prospering Singapore

 Top Ten Rules for Success from Lee Kuan Yew

1. Follow The Rainbow: Yew chastised the generation under 35 years of age

because they didn’t know the struggle that older generations in Singapore had
experienced. They expected the same standard of living as a young adult, that their
parents had worked their lifetime to achieve. Having strong economic growth year
after year was something they took for granted. He was disappointed they were
selfish. Unwilling to sacrifice personal and family wealth for the benefit of society.
Yew cautioned those who would listen that this way of thinking was dangerous, as
things can go wrong very quickly. He knew it wasn’t enough to just have an airline or
a port for the city but to be one of the most competitive in the world. He wanted his
citizens to be challenged. To continue to strive to be the best and never settle for
being average. Yew would often say, “There’s a glorious rainbow that beckons those
with the spirit of adventure. And there are rich findings at the end of that rainbow.
Follow that rainbow and ride it.”He knew not all would be rich financially, but he
knew that the entire society would be lifted up as a whole if everyone was striving to
be better.

2. Never Give Up: Yew was astute in delivering ideas to people. Instilling into
them determination is the great equalizer. Not giving up and focusing on finding the
solution to a problem. If you are not successful with your first, second or third try, try
it a fourth time. Do not give up and focus on finding that solution because it is there.

3. Be Open-Minded: Do not fool yourself into thinking you can do everything

yourself. Get help in areas where you are weak. Do not be afraid to say “I was wrong,
 this is not the way, we need to change course.” If you are prideful and close-minded,
you will fail to achieve your potential because you refuse to abandon an idea or a
course of action that is no good.

4. Make The Best of Your Life: Everyone is dealt a different deck of cards in

life. The DNA inside of you is fixed by your mother and your father. He would often
joke that if he decided to be an artist, he would starve, for that was not in the deck
that was handed to him. Do not do something that you were not favored by nature to
do.

5. Be Passionate! “Whoever governs Singapore must have iron in them or give it

up. This is not a game of cards; this is your life and mine.” He was a strong leader
with a great deal of passion and admonished others to have the same fiery passion for
what they did.

6. Stand Your Ground. You have so much at stake in your life, your career and

your family to afford to be intimidated on any level. Always stand your ground.

7. Show Effort. The current generation does not understand what it is like to be

poor. Yew realized this, and instead of living in the palace, he stayed at the home he
and his wife had to bring up their children to be self-reliant. He believes if you do not
make an effort, you can end up back where you were.
8. Learn From Your Own Experiences. You will fail. It is part of life. Learn from

your own experiences and do not make the same mistake twice. Do not dwell on the
past, but look to the future with a clearer mind and an understanding of what does not
work.

9. Be Consistent. Three journalists analyzed 40 years of speeches from Yew, and

they found the consistency to be the prevailing trend. It was not that Yew was
immovable in his thinking, quite the contrary, but his passion, his love of the
Singapore people, his worth ethic, etc. was consistent. In other words, he did not
work harder in an election year; he worked hard every day.

10. Dedicate Your Life To Something Great. Yew dedicated his life to

making Singapore great after it split from Malaysia. He would often say he was no
one’s stooge. He devoted himself to making Singapore better for each generation.
And he succeeded.

Downside

1. Singapore banned chewing gum: Chewing gum was causing maintenance

problems in high-rise public-housing apartments, with vandals disposing of spent
gum in mailboxes, inside keyholes, and on lift buttons. Gum stuck on the seats of
public buses was also considered a problem. However, Lee thought that a ban
would be "too drastic".

2. Creativity discouraged: Messy, risky work of stirring kids creativity.

Singaporeans lack creativity & risk-taking, according to their employers.
 Singapore is known for being the best worldwide in terms of producing results,
but not in producing innovators who think out of the box.

3. Lee is democrat but also authoritarian: Lee’s penchant for authoritarian

governance. He brooked neither democracy nor dissent. He and his associates
jailed opponents or pauperized them through civil court cases alleging slander or
other misdemeanors. Even when the courts ultimately rejected the claims, the
defendants were impoverished by the costs of seemingly endless court
procedures. Then, having to declare bankruptcy, they were barred from contesting
for public office.
 A giant leader of true history passed away

On 23rd february 2015, Singapore's Prime Minister Lee Hsien Loong announced
his father's death at the age of 91. A week of national mourning took place, during
which time Lee was lying in state at Parliament house. During this time, 1.7
million Singaporean residents as well as world leaders paid tribute to him at
Parliament house and community tribute sites throughout the country. A state
funeral for Lee was held on 29th of that same month and attended by world
leaders. Later that day, Lee was cremated in a private ceremony at the Mandai
Crematorium.
 CONCLUSION

LKY was a dreamer and an achiever. He was certainly a skillful leader who was
monumental in transforming a small-poor island city

A global economic hub. Commonly known for his “economic miracles”, LKY was an
inspirational leader in many ways. His attributes and traits were phenomenal. His ability
to give proper attention to even the smallest details was praised by many world leaders. It
isn’t by chance that Singapore is the cleanest city in the world along with the most
disciplined citizens. His strict regulations and assertive approach have been paid off
effectively.

Singapore was a very diverse country with people from different races facing several
types of problems including unemployment, poor life standard and lack of housing. The
nation was in crisis but LKY had something better in his mind. He had a vision of making
Singapore self-dependent and self-reliant. He wanted to create a sustainable country for
the future. There were many challenges that came along the way but like all great leaders,
he overcame those problems. His actions spoke louder than words. Results of which were
enough for Singaporeans to trust him for achieving the impossible. Similarly, he was a
flexible and dynamic leader who played vital roles in maintaining peace, harmony, and
unity even in hard times. He was able to make Singapore great in almost all the sectors
like Economy,Education, Health, Tourism, R and D, Water Technology, Sustainable
Development, etc.

A country that had nothing to start from and was at its lowest, one man’s courage and his
motivation inspired the whole nation to get things done and face every obstacle that came
along the journey and overcome it. He was a rare type of leader who was charismatic and
transformational at the same time with the ability to change and adapt with changing
times. He was able to influence other leaders from different parts of the world with his
thinking and the way he was able to communicate his ideas and political forecast. He
made wise moves and strategic decisions that benefited others, thus, proved to be more
rewarding to Singapore. Indeed, Lee Kuan Yew was a transformational leader!
References

11. CONCLUSION

12.who
LKY was a dreamer and an achiever. He was certainly a skillful leader

13.economic hub.
was monumental in transforming a small-poor island city into a global

14.leader in
Commonly known for his “economic miracles”, LKY was an inspirational

15.proper
many ways. His attributes and traits were phenomenal. His ability to give

16.isn’t by
attention to even the smallest details was praised by many world leaders. It

17.disciplined
chance that Singapore is the cleanest city in the world along with the most

18.effectively.
citizens. His strict regulations and assertive approach have been paid off

19.facing
Singapore was a very diverse country with people from different races
20.
and lack of
several types of problems including unemployment, poor life standard

21. housing. The nation was in crisis but LKY had something better in his
mind. He had a

22.
to create a
vision of making Singapore self-dependent and self-reliant. He wanted

23.
along the
sustainable country for the future. There were many challenges that came

24.
spoke louder
way but like all great leaders, he overcame those problems. His actions

25. than words. Results of which were enough for Singaporeans to trust him
for achieving

26. the impossible. Similarly, he was a flexible and dynamic leader who
played vital roles

27.
to make
in maintaining peace, harmony, and unity even in hard times. He was able

28.
Tourism, R
Singapore great in almost all the sectors like Economy, Education, Health,

29. and D, Water Technology, Sustainable Development, etc.

30.
man’s
A country that had nothing to start from and was at its lowest, one
31.
done and face
courage and his motivation inspired the whole nation to get things

32.
rare type of
every obstacle that came along the journey and overcome it. He was a

33.
ability to
leader who was charismatic and transformational at the same time with the

34.
leaders from
change and adapt with changing times. He was able to influence other

35.
communicate
different parts of the world with his thinking and the way he was able to

36. his ideas and political forecast. He made wise moves and strategic
decisions that

37. benefited others, thus, proved to be more rewarding to Singapore.

38. Indeed, Lee Kuan Yew was a transformational leader

39. CONCLUSION
40. LKY was a dreamer
and an achiever. He was
 certainly a skillful leader
who
41. was monumental in
transforming a small-
poor island city into a
global economic hub.
42. Commonly known for
his “economic miracles”,
LKY was an inspirational
leader in
43. many ways. His
attributes and traits were
phenomenal. His ability
to give proper
44. attention to even the
smallest details was
praised by many world
leaders. It isn’t by
45. chance that Singapore
is the cleanest city in the
world along with the
most disciplined
46. citizens. His strict
regulations and assertive
approach have been paid
off effectively.
47. Singapore was a very
diverse country with
 people from different
races facing
48. several types of
problems including
unemployment, poor life
standard and lack of
49. housing. The nation
was in crisis but LKY
had something better in
his mind. He had a
50. vision of making
Singapore self-dependent
and self-reliant. He
wanted to create a
51. sustainable country
for the future. There were
many challenges that
came along the
52. way but like all great
leaders, he overcame
those problems. His
actions spoke louder
53. than words. Results of
which were enough for
Singaporeans to trust him
for achieving
54. the impossible.
Similarly, he was a
 flexible and dynamic
leader who played vital
roles
55. in maintaining peace,
harmony, and unity even
in hard times. He was
able to make
56. Singapore great in
almost all the sectors like
Economy, Education,
Health, Tourism, R
57. and D, Water
Technology, Sustainable
Development, etc.
58. A country that had
nothing to start from
and was at its lowest,
one man’s
59. courage and his
motivation inspired the
whole nation to get
things done and face
60. every obstacle that
came along the journey
and overcome it. He was
a rare type of
61. leader who was
charismatic and
 transformational at the
same time with the
ability to
62. change and adapt with
changing times. He was
able to influence other
leaders from
63. different parts of the
world with his thinking
and the way he was able
to communicate
64. his ideas and political
forecast. He made wise
 moves and strategic
decisions that
65. benefited others, thus,
proved to be more
rewarding to Singapore.
66. Indeed, Lee Kuan
Yew was a
transformational leader!
67. CONCLUSION
68. LKY was a dreamer
and an achiever. He was
certainly a skillful leader
who
69. was monumental in
transforming a small-
poor island city into a
global economic hub.
70. Commonly known for
his “economic miracles”,
LKY was an inspirational
leader in
71. many ways. His
attributes and traits were
phenomenal. His ability
to give proper
72. attention to even the
smallest details was
 praised by many world
leaders. It isn’t by
73. chance that Singapore
is the cleanest city in the
world along with the
most disciplined
74. citizens. His strict
regulations and assertive
approach have been paid
off effectively.
75. Singapore was a very
diverse country with
people from different
races facing
76. several types of
problems including
unemployment, poor life
standard and lack of
77. housing. The nation
was in crisis but LKY
had something better in
his mind. He had a
78. vision of making
Singapore self-dependent
and self-reliant. He
wanted to create a
79. sustainable country
for the future. There were
 many challenges that
came along the
80. way but like all great
leaders, he overcame
those problems. His
actions spoke louder
81. than words. Results of
which were enough for
Singaporeans to trust him
for achieving
82. the impossible.
Similarly, he was a
flexible and dynamic
 leader who played vital
roles
83. in maintaining peace,
harmony, and unity even
in hard times. He was
able to make
84. Singapore great in
almost all the sectors like
Economy, Education,
Health, Tourism, R
85. and D, Water
Technology, Sustainable
Development, etc.
86. A country that had
nothing to start from
and was at its lowest,
one man’s
87. courage and his
motivation inspired the
whole nation to get
things done and face
88. every obstacle that
came along the journey
and overcome it. He was
a rare type of
89. leader who was
charismatic and
 transformational at the
same time with the
ability to
90. change and adapt with
changing times. He was
able to influence other
leaders from
91. different parts of the
world with his thinking
and the way he was able
to communicate
92. his ideas and political
forecast. He made wise
 moves and strategic
decisions that
93. benefited others, thus,
proved to be more
rewarding to Singapore.
94. Indeed, Lee Kuan
Yew was a
transformational leader!
95. CONCLUSION
96. LKY was a dreamer
and an achiever. He was
certainly a skillful leader
who
97. was monumental in
transforming a small-
poor island city into a
global economic hub.
98. Commonly known for
his “economic miracles”,
LKY was an inspirational
leader in
99. many ways. His
attributes and traits were
phenomenal. His ability
to give proper
100.attention to even the
smallest details was
 praised by many world
leaders. It isn’t by
101.chance that Singapore
is the cleanest city in the
world along with the
most disciplined
102.citizens. His strict
regulations and assertive
approach have been paid
off effectively.
103.Singapore was a very
diverse country with
people from different
races facing
104.several types of
problems including
unemployment, poor life
standard and lack of
105.housing. The nation
was in crisis but LKY
had something better in
his mind. He had a
106.vision of making
Singapore self-dependent
and self-reliant. He
wanted to create a
107.sustainable country
for the future. There were
 many challenges that
came along the
108.way but like all great
leaders, he overcame
those problems. His
actions spoke louder
109.than words. Results of
which were enough for
Singaporeans to trust him
for achieving
110.the impossible.
Similarly, he was a
flexible and dynamic
 leader who played vital
roles
111.in maintaining peace,
harmony, and unity even
in hard times. He was
able to make
112.Singapore great in
almost all the sectors like
Economy, Education,
Health, Tourism, R
113.and D, Water
Technology, Sustainable
Development, etc.
114.A country that had
nothing to start from
and was at its lowest,
one man’s
115.courage and his
motivation inspired the
whole nation to get
things done and face
116.every obstacle that
came along the journey
and overcome it. He was
a rare type of
117.leader who was
charismatic and
 transformational at the
same time with the
ability to
118.change and adapt with
changing times. He was
able to influence other
leaders from
119.different parts of the
world with his thinking
and the way he was able
to communicate
120.his ideas and political
forecast. He made wise
 moves and strategic
decisions that
121.benefited others, thus,
proved to be more
rewarding to Singapore.
122.Indeed, Lee Kuan
Yew was a
transformational leader!