Growth requires more than a good strategy these days
- Chief Executive
January 2006
Growth requires more than a good strategy these days. Everyone has a decent strategy, but how many have leaders at all levels of the organization who have the understanding, drive and skills to execute it in ways others cannot? When Peter Drucker presciently introduced the idea of identifying leaders of "the future that has already happened," he underscored the hallmark of any effective organization: The best institutionalize leadership development.
Hay Group, in partnership with Chief Executive, has conducted a second yearlong study that attempts to shed light on this urgent need. By identifying the top companies that develop leaders systematically in ways that others acknowledge as productive of top talent, one can understand what works, what doesn't and what should be avoided.
The study, which considered 1,279 companies with at least $8 billion in annual revenues from around the world, focused on what top performers did differently with high potential future leaders, since that is the group that will, in Drucker's phrase, shape the future, a future that has already happened. Of these, 564 provided sufficient data for comparisons.
This year GE narrowly edged out Procter & Gamble, last year's top ranked company.
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