The aim of this applied project was to review, summarize, and analyze current literature on leadership theories and training as it applies to organizations and whether effectively trained leaders can improve an organization’s performance. Through identifying and analyzing the strengths and weaknesses of current leadership theories and training, recommendations were made to further refine leadership theories and training as required. This applied research project sought to answer the overall question of can leadership training improve an organization’s performance. Specifically, this project aimed to answer the following questions 1) What different theories of leadership are there? 2) Which leadership competencies can be learned through leadership development training and what training activities are necessary to facilitate such learning? 3) What impact does leadership have on an organization’s performance? 4) Does leadership training have an effect on an organization’s performance? This paper was formatted in the style of a literature review to understand current practices in leadership training and efficacy of the current style of leadership training to understand its impact on organization performance as applicable. It was designed primarily from a business leadership point of view while drawing on limited concepts from sociology and psychology and used secondary sources of information. Leadership theories, including trait, behavioral, and contingency theory, have evolved over the 20th century in the hopes of finding an ideal approach on how to develop future leaders. Ultimately, no one particular theory has been supreme in every situation, as leadership has been found to be highly situational. Given the vast situational differences, a ‘one-size-fits-all’ approach to leadership training is generally ineffective. While leadership theories have been explored in great detail, the practical application of these theories requires further research and application in real world settings. Evaluating the effectiveness of leadership training has proven to be somewhat challenging due to the diverse types of programs, their delivery, and the measurements used to assess training outcomes. Another limitation of leadership training programming is the lack of evaluation of the return of investment of these initiatives. An important piece of the evaluation process should include short- and long-term evaluation factors that are linked to an organization’s goals. According on the findings to date, leaders have a direct impact on the performance of their organizations regardless of the organization size, industry, and geographic location. They are responsible for numerous functions including decision making, goal setting, and change management to list a few. These findings are also not without limitations. Given the absence of methodological consistency in measuring organization performance, findings from the literature should be interpreted with caution, taking into account the lack of a theoretical definition of organizational performance, and the variety of study designs used. These limitations make it difficult to compare and contrast the findings. Nevertheless, considering the current and growing evidence on the effect of leadership on organizational performance, it is imperative that organizations do everything within their ability to train those in leadership positions to ensure they are competent and capable of leading themselves, others, and their organization. Therefore, leadership training and development should be a top strategic priority for organizations. That being said, further research is required on how to close the gap between leadership training and organizational performance. Based on the aforementioned findings from the literature and the analysis, a set of recommendation were made 1) Tailored external leadership training for executive leadership focusing on the leader’s specific organization. 2) Organizational based in-house training and leadership programs for entry to senior level management if applicable as per organizational size. 3) Integrate leadership training and development as part of the organizational culture and as a performance indicator. 4) Further development is required for the Contingency Theory of Leadership and the Integrative Theory of Leadership. 5) A shift of research from theoretical to practical assessment of leadership to measure the success of leadership training programs and the impact of the training. 6) Conduct feedback and evaluations after leadership training to monitor the effectiveness of the leadership training. 7) Create linkages between leadership training and organization performance.