This paper presents the outcomes on the first process of leadership competences measurement in Business Administration undergraduate students of the Externado de Colombia University. Starting from the model of Competences for Management Leadership, identified by the Leadership Center, research product (see document Advances in Leadership, No. 1, Competences for Management Leadership, September 2004), this project was designed to measure leadership competences in a group of undergraduate students. First of all, a theoretical frame of the indicated phases is developed, including the definitions adopted for this research. Afterwards, process, results and analyses in this measurement are presented, as well as a brief description of the measurement instruments chosen. Finally, conclusions and methodological recommendations are made with respect to curricular and pedagogical issues, and so with respect to research design.