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Global call issued for strong executives

A shortage of strong executives to lead corporate growth is debilitating worldwide industry, according to a study of global business executives.

An executive leadership shortage, particularly in their “ability to adapt and respond to business risks”, is threatening global powerhouses across a wide spectrum of industries, according to the first Global Leadership Imperative.

The Economist Intelligence Unit and Mercer Delta Executive Learning Center released the findings of its study at the World Economic Forum in Davos, Switzerland on Jan. 26, 2006. The study surveyed 223 senior executives in 17 industrial sectors worldwide.

Corporations that hired strong executives showed increases in sales and net income between 2003 and 2004, according to the survey results.

“Implementing processes that foster the competencies of multi-dimensional leaders has clearly become a critical factor in a company’s ability to manage risk and successfully execute global business strategies.” said Dr. David Dotlich, president of the Mercer Delta Executive Learning Center.

“What was once largely considered a function of human resources, measurable leadership development and its impact on corporate performance is now viewed as a business imperative by enterprise leaders and the entire organization. Now that the challenge is recognized, the next step is to address it.” Dotlich said.

Senior executives identified the profile of today’s successful business leader as multi-dimensional, possessing a combination of core competencies:

• Head: Cognitive skills, providing strategy, direction and purpose
• Heart: Emotional intelligence, understanding, working with, and developing others
• Guts: Values; doing the right thing based on clear values

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