In this day and age leadership and leadership development has become multifaceted. It is no longer a one dimensional idea where you have a solitary boss and multiple followers. Now, being an effective leader requires the ability to coach or teach others, not just give orders.
Goldman and Sachs, a full-service global investment banking and securities firm, has recently been noted in Bloomberg Businessweek for being one of the top companies in leadership development. This is due in part to their recognition of this new concept of “managerial coaching”. This firm has been quoted as saying that “as soon as their people become good managers, they have to become good coaches.” This company believes that a good leader is not only good at giving feedback, but receiving it as well. This ensures that the chosen leader is helping individuals reach their full potential and can thus fully contribute to the company.
Goldman and Sachs emphasizes that the team is more important than the individual. It is not enough to just have one outstanding leader. That person must be able to train and teach others, to ensure the success of the next generation. It is within a company’s best interest to not only focus on present success but future success as well.