The first three chapters of this book have signalled the compelling context of business schools and their striking similarities to characteristic traits of professional service firms. The combination of these complex organisational dynamics, captured through a knowledge-based view of business schools, with an intensely competitive environment globally presents significant challenges to business school organisations. Further, the chief source of power to rise to these challenges seems to lie not outside but inside these organisations – in their own governance and leadership.

As the first decade of the twenty-first century draws to a close, with the world plagued by unremitting uncertainty and daunting dilemmas, business schools have a historically unique opportunity to make a difference, influencing, shaping and contributing to the ever more relevant role of business in society. At this turning point in their own history, they need to clarify and reinforce their mission, values and purpose in order to enhance and clearly convey their academic value proposition. As they tackle these current tests, the most critical challenge faced by business schools relates to their own governance and strategic leadership.

INTRODUCTION TO THE LEADERSHIP LITERATURE

There is no single definition of leadership, but there is a general consensus over some of the essential concepts that characterise it (Northouse, 2001; Yukl, 1998). Most theorists agree that leadership is a process that involves influencing people's values, beliefs, motivations and behaviour in order to accomplish a particular objective or purpose.