David Watt: Leadership skills must be developed

What is required to propel our economy back on to an upward trajectory? Sound strategic leadership across the public and private sectors and in companies and organisations, large and small.

There has been some woeful leadership over the past few years in some major businesses. Improving leadership is an organisation-wide challenge and a crucial necessity if Scottish business is to deliver high performance during increasingly hard economic times.

Addressing this need is not only a matter of better training and development. A focus on improved skills is important, but will not necessarily translate into sustained high performance.

Leadership development should be fully integrated into business strategy; when strategy is aligned with vision and a set of leadership values, a culture based on the right values which will prove critical to building a high-performance organisation.

This year's Institute of Directors Scotland conference this month brings together speakers who exemplify high-calibre leaderships with a crystal-clear focus on where they are taking their business and how to get there.

Featuring the theme of Inspiring Leadership – Making the Difference, this year's event brings in the likes of Sue Bruce, recently appointed chief executive of Edinburgh Council; Peter Vardy; oil services company PSN's Bob Keiller; Gary Kildare of IBM and Lord Smith of Kelvin, the chair of Glasgow 2014, sharing their experiences and views on effective leadership.

It is a line-up that delegates – aspiring or existing leaders – can learn from and take the benefit back to their businesses. Such lessons will be of considerable benefit to the Scottish economy.

In the next few years, it will be crucial those at the helm of our businesses,work creatively and dynamically to inspire their workforces and play their part in delivering a bright and prosperous future.

• David Watt is the executive director of the Institute of Directors in Scotland