In the current global business context, organizations face dire shortages of leadership talent. Demographic realities, competition, and high rates of change create significant challenges for leaders at all levels, from frontline supervisor to CEO. With high rates of retirement and constantly shifting business conditions, leadership positions are continually vacated and created. Many organizations report that they do not have a sufficient supply of capable leaders to fill them. Hiring new leaders from the outside is an alternative, but a risky one because external leadership hires are more likely to fail, and often create unwanted change to company culture. The risk is most significant at the highest levels of executive leadership, where job vacancies and failures are most detrimental to the organization. These conditions make it ...

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