Greetings! It is fair to say that the real value of anything is purely whatever someone is willing to pay for it. Many things have intrinsic or objective value that is recognized and broadly accepted in a given marketplace, while for other things value is purely a subjective reality in the eyes of the beholder based on his or her needs or desires. In terms of leadership, of all the men and women I work with, and the hundreds I have spoken to and with around the country, most all seem to agree that great leadership is valuable, and more importantly, the absence of sound leadership is costly to an organization. 
In order to determine the value of anything you must first be able to first describe it and then have a means of measuring for comparison. Leadership, as a concept is both hard to define and measure. Leadership is widely valued by the men and women I work with - yet I would suggest that there is not a single simple, commonly accepted definition. Its more like a community standard, like may courts apply to pornography: it is difficult to exactly define - but you just know it when you see it. In fact, if you search for books on the topic of leadership on Amazon, you will find 68,685 results - including more than 31,237 paperbacks. There is no shortage of thoughts, opinions, definitions and advice on leadership. While researching for this article, I found a definition I rather like, from an obscure book by Martin M. Chemers titled An Integrated Theory of Leadership. Chamers defines leadership as the "process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task". While this describes what leadership does - it still doesn't quite explain what leadership is - or how one achieves this process. To define what makes a great leader it seems we still have to apply the community standard. The Basis for a Global Leadership Revolution I had never come across any measure by which an objective value of leadership could be derived or measured, until a Vistage speaker, Steve Wiley cited a study by Development Dimensions International entitled Global Leadership Forecast for 2011. According to their Website this study involved more than 2,600 organizations in 74 countries and more than 12,000 leaders. While some of the findings are more anecdotal there is substantial imperical data used to support their positions. The executive summary of the report can be found at http://tinyurl.com/3l8yhhq Among the key findings were: - The difference between the impact that a top-performing leader and an average leader has on an organization is at least 50%.
- The highest quality leaders were 13 times more likely to outperform their competition.
- When leaders reported that their organization's current leadership quality was poor, only 6 percent of them were in organizations that outperfromed their competition.
- Compare that with those who rated their organization's leadership quality as excellent - 78 percent were in organizations that out performed their competition in bottom line metrics.
The complete report " Global Leadership Forecaset 2011: Time for a Leadership Revolution" can be found at www.ddiworld.com/glf2011 One thing clear from the report is that leadership is worth investing in. That includes your own leadership as CEO as well as those who help you lead your company. (In my private practice work through Strat4 in Leadership Development - I work with senior management to develop their management teams into leadership teams.) Below is also an article that appeared in this weekend's New York Times on "leading from whatever seat your in," and that leadership is not dependent on your title. There are many ways to invest in your own leadership. I strongly endorse and encourage the CEOs I work with to attend Strozzi Leadership (www.strozziinstitute.com) - a uniquely valuable, intensive program that yields profound insights, develops applicable skills and offers a perspective on how to be a leader - and how to lead that is clear and actionable. Organizations such as Vistage International ( www.Vistage.com ) offer ongoing professional and personal development for CEOs and key executives through coaching/mentoring, executive peer groups and workshops and training from recognized thought leaders. Vistage has been a leader in CEO and executive performance development for more than 50 years - and the results are well documented. If you are interested in learning more about Vistage membership - or being considered to visit as a guest for an upcoming meeting, please contact my office, and I will be happy to set up speak with you. As always, wishing you a great and successful week ahead. 
Philip R. Liebman Managing Director, Strat4 Group Chair, Vistage International | 
