With anemic growth in the United States, Europe, and Japan, companies continue to rely on Asia (particularly China and India) to meet their aggressive growth commitments.
But over-performing in hypercompetitive Asian markets depends largely on the quantity and quality of corporate leadership teams, and unfortunately senior leaders with the experience and business acumen necessary to succeed in the world's most dynamic markets are in short supply in the region.
In fact, only 25% of employees in Asia feel that their leaders are fully prepared for future challenges. What's more, just 26% of Asia's rising leaders believe their successors are ready to move to executive roles, as compared to 43% in the rest of the world.
Failure to build a robust cohort of qualified leaders and a healthy leadership pipeline puts Asia strategy at risk. Investing in skill development is not enough: companies must make more profound organizational changes to attract and retain the best leaders, and enable them to succeed.