This paper presents positivistic, normative/theological, and strategic analyses of the application of religion to the practice of strategic leadership in business. It is argued that elements of religion can enrich several components of strategic leadership. Furthermore, it is argued that the question of whether religion ought to be applied involves the more basic question of whether there is a common basis or a meta-framework relating theological and normative analyses. Finally, because the strategic value of religion in strategic leadership involves varying (...) costs and benefits, an optimal level of integration can be established by applying a cost/benefit analysis to a framework of four ways of relating religion to the business arena based on the degree of integration. (shrink)