The most conspicuous trait that defines a good leader is the willingness to make decisions that are the need of the hour no matter how difficult they may be. And the most significant component of such decision-making is self-confidence. Unbiased analysis of a problem and taking a practical and concrete decision based on that analysis becomes simpler and more effective if one is confident of one's mental abilities and is aware of the world around.

Great leaders are those who sense the need for change before most others in their organisations and devote all their energies to making that change happen. There arise times when it becomes inevitable for the leader to go against the current in an organisation. A good leader is then one who takes a holistic view towards an issue, does not relent to rigid company ideologies and takes decisions that are in the long term interest of the company.

Another defining trait of true leaders is that they do not let vanity come in the way of what needs to be done. While making decisions, they believe in taking their staff and stakeholders along and give due consideration to their points of view.

It is a widely held misconception that leadership attributes are extremely rare in people. Nothing could be farther from the truth. While great leaders may be rare, everyone has the potential to be a good leader. Leadership does not depend on the capacity in which a person works either, though it increases in importance the higher one rises in an organisation.

Finally, leadership demands the ability of a person to accept change, adapt to and adopt policies that, while moving with the flow of change, ensure his or her organisations' continued progress and growth.