Mr Welch's legendary qualities are regarded as exceptional, even unique. But are there attributes or actions that are common to some or all of the 30 chairmen or chief executives featured here that could be distilled into the essence of successful leadership?

The admiration expressed by their peers who took part in the survey is both for what they have achieved and for how they achieved it. The top names are marked out not for a single trait but for a combination of skills and qualities, some of which might in theory be regarded as incompatible.

Thus Mr Welch is cited for having both "hard and soft qualities", for being ruthless yet for having developed an egalitarian corporate culture. He was responsible for transforming "a loose conglomerate of diversified companies into a successful corporate giant" and also for "managing a big company as if it were a small one."

Most of those who feature in the list have made a big difference. They have either presided over the growth of an idea into a great business - take Microsoft or Dell - or engineered a transformation of their company. Sir John Browne of BP Amoco, for example, is praised for having turned round a company that was not doing well and "made it into one of the best in the industry". Lou Gerstner "brought the IBM that was going downhill back to life" and has "a clear vision of e-business". Crucially, many have carried their people with them.

Succeeding at such challenges appears to require speed and decisiveness, courage and tenacity, optimism and enthusiasm, characteristics that feature prominently among those nominated. Chris Gent of Vodafone, for example, "has the courage to make the big moves", while Jurgen Schrempp of DaimlerChrysler has shown "daring behaviour in the motor industry". John Chambers of Cisco Systems, who comes sixth in the list, is cited for being "one or two steps ahead of the competitors in a very competitive market".

The bosses of large corporations have traditionally been the antithesis of the risk-taking entrepreneur. Perhaps that is why many respondents have highlighted the risk-taking and defiance of convention displayed by the likes of Richard Branson, Bill Gates and Michael Dell. Sir Richard, for example, is "a maverick who has made everyone think of doing things differently."

The fact that some of the top 30 remain "entrepreneurial" even after years at the helm helps their ratings. They are praised for freshness of thinking, even after 20 years in charge - or more than 30 years in the case of Maurice Greenberg, chairman of American International Group.

Probably the most common quality cited by respondents is "vision". The term is often used loosely. But what emerges from the comments in the survey is that a number of these leaders combine an exceptional ability to forecast trends with a genuine interest in what the next generation does and thinks.

Mr Welch, for example, is seen as always willing to accept new ideas, understanding young people's way of thinking and being able to re-think his business over and over again. Hiroshi Okuda of Toyota "automatically encourages" younger people to talk to him.

Modesty and an ability to listen are again not attributes automatically associated with successful business people. Yet, some of these leaders clearly stand out in the eyes of their peers for just that. Mr Dell has not let success go to his head, says one respondent, while another cites "his modest attitude of always listening to customers' and employees' concerns".

Employees feature prominently. The most respected business leaders invest heavily in their people, motivate and inspire them, and communicate efficiently with them. Jorma Ollila of Nokia has "got the attitude of a professional athlete out of the whole organisation and its management". Mr Gerstner at IBM has given great importance "to the growth of his people".

Many also display a serious concern for the wider society beyond the corporate gates. Ted Turner at Time Warner is admired for his donations to the United Nations and for founding and supporting, with other Time Warner managers, a website dedicated to African-American history and culture. Mr Gates is seen as "a great humanitarian, concerned about others". BP Amoco's Sir John Browne and Mark Moody-Stuart at Shell are cited for taking leading positions on the environment and social responsibility. Jac Nasser wins a citation for becoming deeply involved in the Firestone tyre recall.

World's most respected business leaders
Rank
2000	1999	Name	Company
1	1	Jack Welch	General Electric
2	2	Bill Gates	Microsoft
3	3	Lou Gerstner	IBM
4		John Chambers	Cisco Systems
5	21	Richard Branson	Virgin
6	6	Warren Buffet	Berkshire Hathaway
7	13	Andy Grove	Intel
8	9	John Browne	BP
9	4	Jurgen Schrempp	DaimlerChrysler
10	5	Michael Dell	Dell
11	8	Nobuyuki Idei	Sony
12	20	Jorma Ollila	Nokia
13		Ted Turner	Time Warner
14	21	Sandy Weill	Citigroup
15	7	Hiroshi Okuda	Toyota
16		Chris Gent	Vodafone
17	23	Rupert Murdoch	News Corporation
18		Steve Case	America Online
=19	12	Steve Jobs	Apple
=19		Mark Moody-Stuart	Royal Dutch/Shell
21		Cor Boonstra	Philips Electronics
22	29	Jeff Bezos	Amazon.Com
=23	28	Maurice Greenberg	AIG
=23	11	Jac Nasser	Ford
25		Larry Ellison	Oracle
26	14	Lee Iacocca
27	24	Brian Pitman	Lloyds TSB
28		Scott McNealy	Sun Microsystems
29		Carly Fiorina	Hewlett-Packard
30		Richard Li	Pacific Century Cyberworks

Such characteristics are shared by many in the list. But some achievements remain individual. Mr Gates, for example, "has proved at 44 that you can achieve your dream of being the world's richest man young enough to enjoy it". That stems from his ability to "make" the future. Neither Mr Gates nor his product are universally liked by respondents, but that does not seem to lessen the respect for his drive and tenacity under fire.

Mr Welch stands alone in being admired for managing his own succession. "He is a great leader whose influence is sustainable and will be after he has gone," comments one respondent. He is also marked out for his lasting contribution to modern management thinking.

And speaking of the future, who do respondents regard as the leaders to watch? Richard Li of Pacific Century Cyberworks is one of them. Entrepreneurial and strong on decision-making, "he will become the most influential businessman in Asia".