1. INTRODUCTION
In today's business world, effective leadership is gaining precedence over effective management. If effective management principles alone were once considered as the essentials of organizational and business success, today the success of organizations and businesses are equally or perhaps more dependent on effective and futuristic leadership. With the information and communication revolution of the late 1990s, many glorious business corporations of the past have been doomed to failure, the reason often being attributed as the failure of the leadership to lead and steer the organization through the fast paced changes in the business scenario brought about by the revolution. The paper presents an analysis of the skills and qualities that contribute to the success of present day leaders and business organizations by studying the concepts and theories of successful and effective leadership and decision making, the significance of organizational assessment and enhancing organizational culture and analyzes Pfizer Inc as a case of effective and successful leadership.
Before attempting to analyze the concepts and theories of successful leadership, an understanding of the concept of leadership, its distinction from management, the importance of effective leadership in present business scenario etc would be imperative.
Leadership and its Importance
Ever since the development of modern management, business and management experts have considered leadership as an important attribute to effective management from a people management perspective. Leadership essentially involves influencing people to strive willingly for the accomplishment of group or organizational objectives. Chester I Barnard defines leadership as ?the quality of th ...