A lack of leadership among UK firms has created top managers who think short-term, do not take risks and have tunnel vision on the bottom line.
This is the view of Hilarie Owen, chief executive of the Institute of Leadership, which was launched this week to help improve leadership in UK firms.
Owen, who has studied the subject for more than 20 years, believes that British companies are handicapped by conservative thinking at senior level and that poor leadership is common throughout corporate structures.
She said, "We have to have organisations which are more focused on leadership.
"So many companies have very rigid processes with many managers.
"People have got to the top by being managers rather than leaders. As a result they are risk-averse, focused on the bottom line and think short-term."