With the demographic shift from boomers to Generation X and Y to Generation Z, the entire business conditions are changing. And given the pace at which business is changing, it becomes extremely important that the companies are ready with a bank of individuals who are prepared to take up the ever-mounting challenges. Businesses demand people who can lead from the front and can take charge of key responsibility areas. However, the number of such people in an organization is limited, and it is difficult for organizations to fill in the top leadership spots. One of the main reasons for this gap is that when the students enter the field of work, they are unequipped with the necessary leadership skills. In the present paper, the authors, on the basis of extant literature, have summarized the role of professional educational institutions and work organizations in developing leadership among individuals. They opine that professional colleges will have to work continuously to groom students to become future leaders. Moreover, not just the professional colleges but the organizations where the students get placed, will also have to take the onus of developing future leaders. A united effort, both from the professional colleges and companies, can bridge the gap between the demand and supply of potential leaders. [ABSTRACT FROM AUTHOR]