Introduction

Today’s global economy leaves little room for error. It does not allow for mediocrity; the rules and players have changed, and ordinary simply won’t work anymore. If companies don’t have the best products and services, and the top people delivering them, their competition will—and they will do it all over the world, as we experience shifts in economic powers and changes in business paradigms.

Only those leaders who abandon conventional mindsets, challenge their own assumptions, and kill their sacred cows can hope to respond favorably to the volatile global financial systems that continue to morph just as we start to understand them. These successful leaders will need to learn to live in harmony with complexity, speed, instability, and ambiguity—to go beyond a competitive advantage to create an exceptional one. Leaders will still need to address the constructs of competitive advantage—cost advantage and differentiation advantage—but today’s reality will demand more. The economic clarion will call them to create a systematic approach that further distinguishes their companies from all others, both now and in the future.

Organizations will increasingly depend on cutting-edge solutions to never-before-seen problems and clever ideas for those recurring headaches that have always plagued them. Research indicates that traditionally a handful of star performers have created the vast majority of valuable ideas for their organizations. These top thinkers and performers will define the talent leaders will need moving forward.

Leaders who aspire to lead them and to create exceptional organizations for them must set the right tone, make effective decisions, and establish credibility—all daunting tasks. As companies expand and grow, the skills that led to a leader’s success often won’t sustain further development in a more complex, high-stakes environment, especially ones that now require exceptional performance. Yet few resources exist to help them. They frequently flounder in their attempts to create a competitive strategy, work with the board, and keep talent in their doors, all the while endeavoring to navigate the turbulent waters of leadership. They need this road map to success.