Comment by KuriousCat

You can extend this argument to internal promotions as well, most companies expect you to first perform at the next level before you are considered for a promotion. Essentially it boggles down to being at the right place at the right time. The attributes you listed are not sufficient to run a company, you might require capital, you might require political support, you might require land or some natural resources and stuff that is not purely in your hands.