If a company is truly striving to be successful in all aspects, it should have a leader who would lead and guide employees in a correct manner, which would in turn lead to its overall productivity. There is a popular saying that some are born leaders, however, many people contradict this belief, as effective leaders can also be developed. A leader is primarily looked up to, when his subordinates perform in a way the company wants them to. If the leader himself is not good, the performance of people working under him also won't be as expected. A typical company has many sections, which have to be handled by some selected people. The processes in each individual departments would only survive, if they are handed over to hard-working and smart individuals. In the business world, leadership development is very important when a process is not working in an appropriate manner. A person may be possessing qualities of a leader, but he may not be possessing those which are required to become an effective leader. In such cases, leadership development certainly plays a very important role. Leadership development enables individuals to initiate qualities, which can make them a leader, and helps managers to develop their leadership qualities for becoming more productive and managerial. It is essential for corporates not only at the top positions in a company, but also in the middle-level segment. Most of the business companies deal with leadership in a general manner, however, they are not well-aware of its importance. Leadership is normally referred to personal dimensions like communication skills, problem-solving capabilities, motivational abilities, personal appeal, aspiration, etc. Generally, companies conduct several leadership development programs periodically, which enable aspiring leaders and managers to enhance their managerial skills and abilities. They consult with institutions and firms which have a wide expertise in training and development. The programs cover up various aspects of the qualities of a good leader. They teach the importance of effective communication within the workforce to carry out tasks in an efficacious manner. They impart knowledge to future managers on how to be confident in employee management. Problem-solving is also a significant aspect taught in such programs, which enables leaders to handle tough and unfortunate situations that may arise at times. These programs surely create a positive outlook towards dedication in work among leaders. They even train the managers and leaders on how to handle employees in a way that won't hurt the employees emotions and at the same time will be profitable for the organization. They help leaders to take crucial decisions and preclude any possible mistakes in the daily working of the company. Leadership development allows a leader to understand employee problems and issues, and focus on solving such problems. It also lets the leaders know the importance of employee motivation which certainly is a primary reason for high employee productivity. It improves the proficiency of leaders to make wise and prompt determinations regarding work quality, market conditions, company strategies, plans of action, etc. With a development in all such leadership skills, the leader also develops a set of values regarding his corporate life and productivity, which may help him to be firm on his decisions and obligations. In today's world, where a single incorrect decision can have an adverse effect on the company, it is absolutely essential for present and potential leaders to concentrate on leadership development.