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The greatest waste of leadership capacity for any organization is the underutilization and lack of development of key people within their own company.  The key reason in my mind is that these executives are overvaluing delivering results at the expense of not developing the next generation of leaders.  This HBR post drives this issue to the top of the list:

“It’s not that development itself isn’t important. In a Deloitte study of 7,000 organizations this year, 89% of executives rated “strengthening the leadership pipeline” an urgent issue. That’s up from 86% last year, and the trend makes sense. Organizations are continuously promoting people into management, and those new leaders struggle with the transition.”

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