According to a survey carried out on a total of 756 CEOs in 2002 by The Center for Creative Leadership and Chief Executive Magazine, leadership development has been hailed as a critical component of competitive advantage. While this may not come as much of a shock to some organizations, the surprising fact is that despite widespread acceptance of the importance of nurturing leadership talent amongst today’s business leaders, many admit to having a poor strategy for making it happen. This is undoubtedly a major problem, for as businesses continue to be challenged by developments in technology, customer demographics, market conditions and environmental threats, an organization’s fortunes will increasingly rest on the abilities of its leaders.
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