Organizational Effectiveness (OE) is perhaps the most critical dependent variable in all organizational analysis and almost all organizational theories include the notion of effectiveness. Despite its significance, the construct has eluded a clear definition and/or description. Instead, it has emerged as one of the most complex and controversial issues in management. Various models and theoretical approaches have been developed to assess it but nearly none of them are universally applicable. The extant literature drawn on OE indicates leadership as the pivotal force or distinguishing factor behind the organizational effectiveness or success; and emotional intelligence being the key for effective leadership. This article in its effort to identify the constituents of OE, presents obvious theoretical and empirical evidences of its direct relatedness with leadership, emotional intelligence and motivation, and introduces a new 'leadership based organizational effectiveness model'. It includes the conceptual framework of the ongoing pilot study designed to appraise the validity and applicability of the proposed model in improving OE. The sample of the pilot study consisted of leaders (N=500) and their direct reports (N=1500) belonging to various Indian based IT and Manufacturing organizations.