This report provides a comprehensive analysis of leadership in the 21st century, delving into its core competencies, including honesty, communication, decision-making, management skills, and problem-solving abilities. It contrasts modern and traditional leadership styles, outlining factors driving the shift, such as technological advancements, cultural changes, and economic conditions. The report identifies key challenges faced by contemporary leaders, including increased competition, performance expectations, skill gaps, and talent retention issues. It also explores the evolution of leadership theories, the meaning of leadership in management contexts, and the relationship between leadership and gender. The report offers insights into the dynamic nature of leadership and the adaptations required for success in the modern business environment.