Considers some recent research on understanding and improving managerial performance. Reports on findings of a recent survey that asked executive managers what it is that distinguishes the excellent or effective performer from the merely average or ineffective performer. Examines competency based assessments, and the Ashridge Survey covering 500 UK organizations in both the private and public sectors which aimed to find out just how much the management competency idea has taken hold in the UK. Finally, considers the future of competency based assessments.