No matter how successful or seemingly secure any business appears, there are no longer periods of calm seas for leaders in any industry. A broad statistic reinforces this fact emphatically: More than half the companies that were industry leaders in 1955 were still industry leaders in 1990. But more than two-thirds of 1990 industry leaders no longer existed by 2004.
Leaders today need to be at home navigating a ship through 40-foot waves — oceans that will never again be serene — and still be able to guide their crew safely from port to port. They must remain highly effective in an environment of extraordinary, ongoing stress. Read complete Harvard Business Review blog post.
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