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In this insightful excerpt, Dr. Ishrat Husain shares how he transformed the State Bank of Pakistan from a demoralized, poorly equipped institution into a modern, high-performing organization. Drawing on his experience as Governor, he explains how genuine consultation, employee ownership, merit-based appointments, and ethical consistency (“walk the talk”) became the foundation of sustainable reform. He also discusses how resisting nepotism, avoiding “kitchen cabinets,” and empowering young professionals helped create a culture of trust, accountability, and excellence. This clip is part of the Leadership and Ethics series by Dr Jawad Syed and Dr Syed Zahoor Hassan, featuring conversations with distinguished leaders on ethical and values-based management. Key themes: • Change management in fragile institutions • Meritocracy and anti-nepotism • Employee ownership and engagement • Ethical consistency in leadership • Building high-performance cultures Discussion Questions 1. Why do most organizational reforms fail, even when leaders have good intentions? 2. How did Dr. Ishrat Husain turn resistance into ownership? Could this work in your organization? 3. Is meritocracy realistic in family-owned, political, or relationship-based environments? Why or why not? 4. Have you seen “kitchen cabinets” or favourites damage decision-making in your workplace? How? 5. What one system in your organization most needs reform to improve fairness and performance?