Management observers remain frustrated by the continuing scarcity of women in the top leadership roles at most organizations. Many advocate strenuously for prioritizing the development of women leaders. Business has changed dramatically in the last two or three decades; it's global, fast-paced, highly dynamic, and more competitive. They contend that to succeed in such an environment, companies must adapt by rethinking what constitutes great leadership. It's often women, they argue, who fit the bill for the effective leader today.

These days when we talk about effective leadership it's fashionable to emphasize themes of happiness. How often do we hear that happy employees are more productive, or that harmonious teams perform better. These ideas aren't wrong, but without clarification they risk oversimplification. "Happy" doesn't mean cheerful and content, and high-performing teams are "harmonious" in only the broadest sense of the word.

The Conference Board just released their latest survey of 5,000 U.S. households and found that 45 percent of those surveyed say they are satisfied with their jobs, down from 61.1 percent in 1987, the first year the survey was conducted.