Toby Hartwell, managing director of The Folio Society said he liked the idea of "recognising literature of enduring value" and it seemed a "natural extension" of the business.

BBC: Folio Prize seeks to make mark on literary landscape

The idea that works of literature hold personal clues, or that more grandly writing is an expression and exploration of the self, is a relatively recent phenomenon.

ECONOMIST: The man and his pen

The idea that literature is an important facet of leadership development is not new.

FORBES: Why Every MBA Should Read More Literature