The present paper studies the role literature can play in management in general and in leadership, organizational behavior and communication in particular. Literature normally gets a skeptical reception in management studies. The paper discusses the relevance of literature for a better understanding of human behaviour and a judicious discernment of situations, preferences and consequences. Literature, replete with an array of people and situations either mismanaged or otherwise can then become a potent, instructive and a much more engaging source and tool of teaching. The paper explores the possibility of using literature as a reservoir for focused case studies and issue based excerpts from appropriate works. Shakespeare's famous heroes, Arthur Miller's "Death of a Salesman," Joseph Conrad's "The Secret Sharer" and many more exhibiting leadership challenges, decision making, self-awareness, judgment, ethics, interpersonal conflict and communication can provide meaningful parallels from literature to the modern day managers.