In a business setting, one's intelligence is crucial. Many problems faced by today's executives are unique and ill-defined. So, one's ability to analyze information and render a decision based upon the probability of success is imperative. What it comes down to is that all the knowledge in the world is useless if one has no means of processing and applying it. Organizations run on the brainpower of their people.

The central premise of great leadership is recognizes that fundamental fact, that not of us are fixed entities, and taking responsibility for making sure that we bring out our people's best selves.

CEOs must master three essential attributes, realistic optimism, subservience to purpose, and finding order in chaos. One's capacity in each determines their ability to cope with today's business environment.

Knowledge is the accumulation of information whereas intelligence is one's ability to process information to render good decisions.

Only recently have we begun to understand the specific cognitive skills that contribute to business success and how to measure them. Hopefully, this insight will allow us to more keenly focus our attention on indentifying and cultivating decision-making abilities in the executive population.

One of the capabilities, which seems to be the most difficult for aspiring leaders to maste is realistic optimism. It requires one to recognize that our experience of life is largely up to us, that our situations, good or bad, are largely due to our ability on a moment-to-moment basis to capitalize on opportunity. Those that approach life as if it is largely outside of their own control, or that others are largely to blame for their circumstances, generally find growth elusive.

Most people define "street smarts" as some innate ability to make savvy decisions, or one that has developed as a result of a person being confronted with very challenging circumstances in the past. I think another common term that is used is one who has amazing "business acumen." But, whatever we call it, it is always associated with some mysterious ability, only a few possess, that allow them to make better decisions than the rest of us.