So why are we so fascinated and obsessed to observe, to learn and to ridicule or admire those that dare to step up to the top management jobs? Leadership is one of those roles if done successfully offers huge opportunity for fulfilment, growth, meaning and purpose. It is a tremendous privilege and service to know that you have made a difference, created a following, left a legacy, and achieved a life long goal. That is, of course, if you are not the kind of leader like Adolf Hitler, Joseph Stalin or Saddam Hussein, for example, because leaders come in all shapes and guises.

But what happens when things don't work out, when you go from hero to zero, lose your reputation and everything you've ever worked for? There are numerous examples. The newspapers are littered with the headlines of stories of leaders who have fallen from grace across the business world, politics and public office. Perhaps this explains why so many people choose not to step up because they feel the sacrifice is too great, because they feel too exposed.

Warren Bennis, one of the leading leadership gurus identifies the following criteria that most organisations use to determine whether people move up to leadership:

1) Technical competence

2) People skills

3) Conceptual skills (the capacity to think big and make connections)

4) The ability to track results

5) People taste (do they choose people well)

6) Judgement (the capacity to make important decisions with imperfect data in a short time)

7) Character (what the person is really like)

However, what is it that people really want and need?

To quote Bennis again it would consist of:

1) A sense of purpose or meaning. Above all else leaders need to provide purpose to enable authentic human relationships along with the optimism that things will work out well. A confidence that can influence the circumstances of ones life, an expectation of a future good.

2) A sense of belonging to a community, team or group. People don't want to feel isolated alone and lonely, to face the challenges at work. They want to feel valued and supported as a member of a dynamic team.

3) A sense of power, involvement, connection and alliance. Leaders must share power and encourage involvement and participation.

So leadership is everything to do with vision, meaning and purpose. Great management leaders inspire others to act with a compelling vision. They encourage momentum and action, they walk their talk and do what is necessary to get the job done and achieve the results. Great leaders never compromise their values, their ethics or their character for the path of quick fix and compromise. They understand that integrity is everything. They will operate as much from their 'hearts' as well as their 'heads'. They lead for the benefit of others not for the benefit of themselves. They strive for excellence with focus, discipline, effort and enthusiasm. They will make significant personal sacrifices; take their responsibilities seriously, show humility, steely resilience and perseverance in the face of the toughest challenges. Great leaders recognise the importance of creating future leaders and will invest and coach talent to step up.

Leadership is earned and it is a mindset that can be cultivated but before we can lead others we must first learn to lead ourselves. Before we can exceed expectations we must first learn to raise our own expectations. Perhaps this goes some way to explaining why there is such a shortage of management leadership talent these days.