We live in an interesting world. Companies rise and fall faster than ever before. Technology makes whole industries redundant. Globalization creates more competition. What worked yesterday is obsolete this afternoon. Yet, some companies endure. They evolve. They set the pace of change. They birth the new. And they do it with the same limitations and constraints as their competition.

The difference? Leadership. Great companies simply grow leaders faster than the competition. The best of the best invest in the people that execute flawlessly. That create new markets. That delight customers.

Growing leaders takes commitment to a solid strategy. Here are five things that the great do to forge leaders faster.

– Challenge: Do everything you can to challenge potential leaders. Give them special projects, put them in charge of important changes, assign them to new divisions. Only when people are challenged do they shine.

– See The Whole System: Look at your organization as a whole system. Understand that everything is connected. Examine how each function affects others and the role that your customers and competitors play. Changing your compensation plan or installing new software will impact everyone else in the company to some degree.

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– Coaching and Feedback: Coaching and feedback are critical for potential leaders. Make sure that senior leaders have the skills and willingness to sit with people as they face challenges and explore new territory.

– Training: Invest in management and leadership training. And have potential leaders learn together. This creates more links within the organization and encourages collaboration. Start with training on Change Management, Finance, Project Management, Conflict and Coaching.

– Rotation: Move potential leaders throughout the organization. Take a brilliant marketer and put them into engineering for six months. Put your finance people deep into operations. Developing a high-level view of the organization is a critical leadership competency.

– Mentoring: Find senior leaders inside or outside the organization who are willing and able to mentor a potential leader. These relationships can last for years and help people reflect on their successes and failures. They also expose potential leaders to leadership thinking.

Finally, create a program that incorporates these five tools with a talent identification process and a clear understanding of the leadership competencies that your organization needs to thrive.

Robin Sharma