Organizations have always needed leaders who are good at recognizing emerging challenges and inspiring organizational responses.
That need is intensifying today as leaders confront, among other things, digitization, the surging power of data as a competitive weapon, and the ability of artificial intelligence to automate the workplace and enhance business performance.
These technology-driven shifts create an imperative for most organizations to change, which in turn demands more and better leaders up and down the line.
Unfortunately, there is overwhelming evidence that the plethora of services, books, articles, seminars, conferences, and TED-like talks purporting to have the answers—a global industry estimated to be worth more than $50 billion—are delivering disappointing results.
According to a recent Fortune survey, only 7 percent of CEOs believe their companies are building effective global leaders, and just 10 percent said that their leadership-development initiatives have a clear business impact. Our latest research has a similar message: only 11 percent of more than 500 executives we polled around the globe strongly agreed with the statement that their leadership-development interventions achieve and sustain the desired results.
To read more of the original article, go to McKinsey & Company.
