To paraphrase the old saying, “Leadership is like the weather – everyone talks about it, but no one does anything about it.” People seem to accept leadership, good or bad, as a cosmic fate that simply happens. If we benefit, great. If we suffer from inadequate leadership, it is perceived as bad fortune and unavoidable.
I do not accept those premises. Unlike the weather, we can do something about leadership
Leadership development is one of the single most important strategic activities undertaken by business entities throughout the world. To ignore the need for excellent leadership practices is an invitation to catastrophe.
Here is what the science says:
- Studies show that 50% of all businesses that fail, fail due to bad leadership
- Effective leadership can increase net margins 1% – 3%
I think there are three main fallacies that directly contribute to poor leadership development:
Fallacy one – “Real” leaders have charisma. Continue reading