This document discusses courage in leadership and leadership in courage. It begins with definitions of courage from English and Sanskrit, noting it relates to strength of heart and mind. Examples are given of courageous acts that created social change. Courage in business involves calculated risk-taking. Leadership must start from a leader's inner courage; courage is necessary to display other leadership traits. A courageous leader is able to choose difficult options, speak up, accept change and accountability. Building courage involves acquiring, displaying and practicing different forms at different levels. Organizations can develop future courageous leaders by encouraging initiative, trusting others, and promoting voices of dissent.