Economic value of Emotional Intelligence (EI) has been mentioned extensively in recent organizational behavior research. In the age of information and highly specialized work teams, EI is becoming a vital skill as people must accomplish their work by collaborating with each other, and their ability to communicate effectively becomes as critical, if not more critical, as technical skills and capabilities. What is known about Emotional Intelligence (EI)? Is it a skill, an aptitude, or a combination of both? What does a high EI score predict? Which measurement instruments are most effective in predicting social behaviors, academic performance, and overall life outcomes? Existing theory on EI can be divided into two dominant schools of thought. The "purist" position, espoused by Mayer and Salovey and their colleagues, considers EI an ability similar to spatial or verbal skills. "Emotional Intelligence is the ability to perceive emotions, to access and generate emotions so as to assist thought, to understand emotions and emotional knowledge, and to reflectively regulate emotions so as to promote emotional and intellectual growth" (Mayer & Salovey, 1997). The mixed model, supported by Bar-On and Goleman, combines emotional processing with personality aspects such as optimism and persistence. This research examines the concept of EI in conjunction with organizational behavior, education, and training for enhanced emotional knowledge within businesses and academic organizations. The role of an emotional quotient is considered in management effectiveness, together with implications for schools.