Vision and priorities should precede actions. Actions should be judged through the prism of how the firm adds value and the key competencies it seeks to build.

One reason leaders don't delegate is they haven't been sufficiently clear with the team regarding their vision and key priorities - so that the team understands where the firm is going. If everyone is on the same page, it's a lot easier to delegate effectively.

Great companies create an environment in which employees act like owners. They do this through clear communication, articulation of clear vision and priorities, coaching and openness to debate/discussion. I would argue that this type of environment helps people to be at their best - and helps the company to be at its best.

Reaching your potential is a disciplined process. Like losing weight or getting in shape - there is no final destination and it requires you to dust off atrophied muscles. You have to work at it. If you do, I think you will dramatically improve your leadership.

You're changing, the world is changing, and your hopes and aspirations are regularly being updated. That's why I say this is a life long struggle - for everybody.

Business education must constantly be changing and being updated to improve the quality of the student experience. On line courses will be a key part of supplementing course offerings and providing opportunities for life-long learning. Like any industry, business schools must continue to think and re-think how they add value to students and create thought leadership.

To help people with the struggle, I have to reveal my own struggles.