IS IBM’S NEW TELEWORKING POLICY A BIG GAMBLE?

IBM sparked intense debate last week when it ordered remote workers to move into IBM offices, and debate is warranted. Yet one fact is already powerfully clear: Bringing people physically together makes them more collaborative, innovative, and creative. I won’t try to predict the ultimate result of IBM’s move; too many other factors will influence…

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3 Lessons From Apple On Making Perfect Products

A few best practices from the Fruit. Apple, the world’s most valuable publicly traded company, is also the World’s Most Admired Company for the tenth consecutive year, as Fortune announced yesterday. This is not exactly a surprise, even if it does seem unfair—like one kid being the richest, smartest, and best-looking in high school. But…

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Why Kraft Heinz Won’t Stop Until it Devours Unilever

The mayo and Dove soap maker has two things that Kraft’s owner craves. Kraft Heinz’s $143 billion bid for Unilever was totally predictable. It was also a complete and utter surprise. It was predictable because it perfectly fit the playbook of 3G Capital—the private equity firm that runs Kraft Heinz KHC -1.84% and controls it…

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Donald Trump Is Getting Pushed Around by Intelligence Agencies, Congress

And he’s losing power because of it. The Wall Street Journal this morning reports the astonishing news that national security officials have withheld sensitive intelligence from President Donald Trump because they feared it might be leaked or compromised. They don’t trust him, to put it bluntly, and as a result, he knows less than previous…

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Tom Brady and LeBron James’s Next Great Opponent: Machines

The growth of e-sports could drastically change how we view athletes. The world’s strongest job security belongs to great professional athletes. No machine can yet do what Tom Brady or LeBron James or Serena Williams can do, and even if that becomes possible someday, no one will pay to see it. The human element—knowing that…

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The Border Adjustment Tax May Have Zero Effect on American Companies

According to many economists — but they’ve been wrong before. An old joke says God created economists to make weather forecasters look good, and right now economists are feeling every bit of the disrespect embodied in that line. The issue is the House GOP’s proposal for dramatic corporate tax reform. For business leaders trying to…

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Study: China Will Overtake the U.S. as World’s Largest Economy Before 2030

That’s a good thing. In this time of intense angst about America’s greatness (or, as some argue, loss of it), weak economic growth, and perhaps waning U.S. influence in the world, here’s a perspective you won’t hear much: America’s economy will not be the world’s largest for much longer, and that’s something for Americans to…

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Ask Yourself These Two Questions About America’s Economic Future

Only then should you flip back on cable news. Today’s news environment has ADD. That’s why business leaders must occasionally disconnect from the tweet-powered media whirlwind and think hard about factors that do not make good SNL sketch material but that will deeply influence our future. So today—inspired by new PWC research finding that by…

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Donald Trump’s Immigration Ban Ushers In a New Era of CEO Activism

And CEOs have a playbook on what does and doesn’t work. The amicus brief filed by nearly 100 companies on Sunday in the Trump immigration-ban imbroglio marks a turning point in CEO activism. By wading into a high-profile, hyper-politicized national debate, these leaders have ventured where only few have gone before. “The amicus brief is…

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To Save His Legacy, Ralph Lauren May Need To Leave Ralph Lauren

  Why the recent CEO shakeup is such bad news for the company. Ralph Lauren strongly exemplifies two classic patterns of CEO performance, one that’s inspiring and one that’s definitely not. The second pattern became clear yesterday when Ralph Lauren Corp. announced that Stefan Larsson would step down as CEO, a job he got just…

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This is What Amazon’s Jeff Bezos Understands and Walmart Doesn’t

  In e-commerce, it’s all about the ease of purchasing. The latest evidence of Jeff Bezos’s strategic genius arrives in a new report revealing Amazon’s utter dominance of e-commerce. It’s worth every business leader’s study. This is the world’s fifth-most-valuable publicly traded company, worth $395 billion—more than AT&T and Verizon combined, for example. How did…

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Trump’s Border Tax: Here’s Number the Pundits Are Missing

  Avocado lovers can relax a little. Now that White House press secretary Sean Spicer has inadvertently ignited a firestorm by suggesting that President Trump wants to pay for a border wall by imposing a 20% border tax on Mexican imports, and cable news hosts are gravely discussing the impact of such a tax on…

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Trump’s Immigrant Ban Puts His CEO Allies In a Tough Spot

  Business leaders’ awkward political position. What do you do if you’re a famous CEO, and the president of the United States has asked you to serve on his Strategic and Policy Forum, you’ve agreed to do so—and then the president issues an order forbidding some of your employees from entering the U.S., or from…

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Mark Zuckerberg and Larry Page Are America’s New Press Barons

But they don’t want to be. More news yesterday reminds us that Google CEO Larry Page and Facebook CEO Mark Zuckerberg are today’s press barons, though they don’t want to be. Business leaders need to erase and replace their long-established understanding of how the media work. The latest sign is Facebook’s announcement yesterday that it…

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The Wells Fargo Scandal Is Now Reaching VW Proportions

  The bank’s problems ran far deeper than fake accounts. I thought it would be a long time before a corporate scandal got bigger and worse than the Volkswagen emissions-cheating mess. I still think that, but almost every day the Wells Fargo situation makes me wonder if it might soon surpass even VW in overall…

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For CEOs, Donald Trump’s Deregulation Pitch Comes With One Huge Caveat

  Companies don’t know the whole story yet. Business leaders face a new daily task: deciding how deeply to discount what Donald Trump says. For example, his repeated promises to release his tax returns should have been discounted 100%, as we learned yesterday. On the other hand, his pledges to shred the Trans-Pacific Partnership should…

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President Trump’s Victory Opens a Door for Mark Zuckerberg

Trump was the first CEO president. He probably won’t be the last. Now that Donald Trump is the first CEO to become president, you’ve got to wonder how long it will be before the next one. Maybe just four years? Politicos are buzzing over the recent activities of Facebook founder and CEO Mark Zuckerberg. He…

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Trump Inauguration Makes History Today in More Ways Than One

No president is prepared for office, but Trump has catching up to do. Every presidency tests uncharted waters, and the one that begins today is among the largest experiments in U.S. history. It’s often observed that no one is prepared to be president, that every president must grow into the job. Donald Trump arguably enters…

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Verizon, Macy’s, and Time Inc.: The Digital Revolution’s Latest Targets

It started gradually, but has now suddenly transformed industry stalwarts. The digital revolution is playing out the same way Mike went bankrupt in Hemingway’s The Sun Also Rises: “Gradually and then suddenly.” For all of the revolution’s world-changing effects so far, it’s only now transforming some of the biggest players in some of the biggest…

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4 Coming Flash Points Between Donald Trump and the Congressional GOP

A business leaders’ cheatsheet. With Donald Trump about to assume office, business leaders face an unusual quandary. Which Republican should they believe—Trump or House Speaker Paul Ryan? Rarely have the two leading figures in either party been so directly opposed on the largest policy issues. Consider: What will replace Obamacare, and when? In a recent…

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The Shockingly Prescient 1970 Social Theory That Explains the World Right Now

Why a 50-year-old bestseller may be 2017’s most relevant book. Future shock—too much change, too fast—has arguably become the predominant societal force in the world, 47 years after author (and Fortune writer) Alvin Toffler coined the term for the title of his 1970 bestseller. Now that it’s here, no one knows what happens next—Toffler predicted…

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Here’s Why Donald Trump’s Cabinet Might Not Be So Bad

An argument for business leaders taking Trump’s cabinet nominees seriously. This morning, a pointed message from a business sage who has proven himself—yet again—worth listening to. On Sept. 28, after one of the presidential debates, I quoted consultant Ram Charan as follows: “While Donald Trump seems not to have done well in the debate on…

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Donald Trump’s Pressure Has Forced Businesses to Spin Job Growth

But that won’t necessarily create more jobs. Business leaders and their p.r. advisers are holding a festival of spin on the subject of jobs, and who can blame them? The president-elect is excoriating companies by name for moving or keeping jobs outside the U.S.; ask Ford’s Mark Fields, GM’s Mary Barra, United Technologies’ Greg Hayes,…

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Dow 20,000 and the Problems Ahead for Stocks

Dow 20,000 may be meaningless, but stocks are getting expensive. As the Dow keeps not quite hitting 20,000, the eternal debate over the market’s priciness is heating up. And while we’d all like to maintain a Warren Buffett-like serenity toward the market’s direction, most business leaders, as a practical matter, cannot. They have to decide…

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How Seriously Should Business Take Donald Trump’s Campaign Promises?

  The C-suite’s new guessing game. Business leaders now realize, if they didn’t already, that they face an unusual problem: deciding how seriously to take what Donald Trump says. The latest evidence came at yesterday’s news conference, when he said pharmaceutical companies are “getting away with murder.” Recall that pharma stocks surged immediately after the…

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Why Volkswagen’s Emissions Scandal Has No End

It wasn’t a mistake, but a carefully planned scheme to trick regulators. The astonishing Volkswagen emissions scandal yesterday took another expensive step down its extremely long path to eventual resolution, as the company agreed to pay $4.3 billion to resolve the Justice Department’s criminal and civil investigation of the matter. That’s on top of $14.7…

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Trump’s Taiwan Stance and Why It’s Time to Revisit Your Plans for China

  It’s getting harder for Beijing to engineer 6.5% growth. Every business leader needs a point of view on China, and that point of view may soon require a change. Trends and events in the news over the weekend add complexities to the conventional view of a country hell-bent on maintaining 6.5% growth while transitioning…

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How to Prepare for Donald Trump’s First 100 Days

The question is how much of Trump’s pro-business plans will get done. Topic A for business leaders worldwide is the presumed avalanche of pro-business actions about to cascade from Washington after the new Congress was sworn in yesterday, and especially after Donald Trump is inaugurated in 16 days. But how much of it will actually…

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Disney Fights Back Against ESPN’s Decline

Releasing Star Wars movies isn’t the only tactic CEO Bob Iger is using. Disney yesterday became the first movie studio to sell over $7 billion of tickets worldwide in one year. The achievement caps an excellent year for Disney but obscures possibly more significant good news: CEO Bob Iger is fighting back against disruption and…

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Why On Earth Are CEOs Joining Trump’s Cabinet?

  Here’s what they’ll likely be facing. Now that Donald Trump is reportedly going to name Exxon CEO Rex Tillerson as his choice for secretary of state any minute now, we can count on a predictable line of media chatter. All these CEOs! CKE Restaurants chief Andrew Puzder for labor secretary; Wilbur Ross, head of…

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What’s Behind the Year of Corporate Scandals

An interview with a leading expert on corporate governance Ira Millstein. Superlawyer Ira Millstein was appalled by the news that former Senate Majority Leader and Republican presidential nominee Bob Dole, working for the Taiwan government, had midwifed Donald Trump’s protocol-shattering phone call with Taiwanese president Tsai Ing-wen. “It violates everything he said as a candidate…

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Why Corporate America Should Be Afraid of Trump’s Presidency

Already behaving like a swaggering banana republic commandante Is Donald Trump a savvy businessman who as president-elect is wielding his commercial skills to benefit America? Or is he a combination Mafioso and swaggering banana republic commandante? He isn’t even president yet, so he’ll have plenty of time to answer that question, but his actions so…

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3 Big Predictions About the Global Populist Surge

Even in an incredibly uncertain world, you can be fairly sure of these 3 things. It’s time for business leaders to start looking past the global populism surge, which sounds like decidedly odd advice considering that the surge seems just to be getting started. Though Austrian nationalist candidate Norbert Hofer lost yesterday’s presidential election, the…

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Why Richard Branson and Other Billionaires Are Attacking the Way We Do Business

  “This is like the 1930s. We must take action.” “This is a very dangerous moment,” says telecom billionaire Mo Ibrahim. “This is like the 1930s. We must take action.” He’s talking about a crisis of capitalism, a topic that emerged from the opening moments Friday of the Fortune/TIME Global Forum in Rome. It’s rare…

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The Sleep Habits of Successful Executives

If you’re driven, do you need to sacrifice your health? This morning we focus on an issue to which you almost certainly pay too little attention: yourself. If I had asked you five minutes ago to list the top issues on your to-do list – even if I had specified that they be issues for…

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How Donald Trump Fits Into the New World Order

Part of a mammoth trend sweeping the globe Business leaders must now confront a mammoth trend that’s just as significant for them as the quickening march of technology. It’s the global turn away from socialism in its many forms, away even from classical liberalism, and toward populism. The trend gained momentum over the weekend and…

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Why Aren’t Investors Scared by Trump’s Shifting Positions?

The market has been rallying. Here’s why. On Tuesday, the first full trading day after Donald Trump posted a YouTube video outlining plans for his first 100 days, the Dow jumped to a new record, breaching 19,000 for the first time. Coincidence? Shrewd investor behavior? Insane market euphoria? Several commentators think this rally is nuts,…

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Why Facebook Can’t Stop the Fake News

  But Mark Zuckerberg needs to try. Facebook’s Mark Zuckerberg on Friday night posted a message on his Facebook page about so-called fake news and the controversy over his company’s role in carrying it to hundreds of millions of users. “The bottom line is: We take misinformation seriously,” he wrote. Immediately adjacent to his post…

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How Fortune 500 CFOs Are Preparing for a Trump Administration

They’re expecting a new trade environment and tax reform, to start. Talking yesterday with a group of Fortune 500 CFOs, I got some insight into what’s on their minds and how they’re responding to the advent of a Trump administration and a unified government, as well as to other large-scale trends. Their concerns and their…

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Why We Still Need to Fight for Open Borders in the Age of Trump

It took 70 years to build a global openness that lifted billions out of poverty. Brexit could be regarded as a fluke. Brexit plus Trump starts to look like a trend. A large question for all leaders now is whether the trend becomes self-reinforcing, an accelerating spiral of nations rejecting the open global order built…

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Meet Washington’s Newest Power Player, Jeb Hensarling

Congressman Jeb Hensarling’s free market ideas may suddenly hold sway. The stock market’s post-election Trump bounce is, like the electorate, sharply divided. Tech stocks are down, but financial companies are up strongly, apparently on optimism that Congress may well scale back or even replace the Dodd-Frank law, which Trump promised he would do. Such a…

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Why Facebook and Google Still Resist Calling Themselves Media Companies

Even though they’re more influential than all the old media powers. Who are America’s media powers today? The election has put that question at the center of the news, but the answer applies far more broadly. For any leader in any field, understanding today’s most influential media players is crucial. Call them the new ‘Powers…

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Trump’s Shifting Positions: How to Prepare for the Unpredictable

Business leaders need to imagine all kinds of scenarios — now. If you don’t use scenario planning for your business and for yourself, the time has come. That’s because we’re pretty certain that a Donald Trump presidency will bring much significant change yet remarkably uncertain of what it will be. For example, the Trump campaign’s…

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Tim Cook’s Post-Election Email Was Exactly What His Employees Needed to Hear

His email to employees shows how businesses should respond. It was foolish for anyone to have imagined that the venomous partisanship of this election would dry up as soon as the votes were counted, and of course it hasn’t. Thousands of people protesting the result marched in cities across America yesterday, burning Trump effigies and…

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Mass Deportations and a Wall: Will That Really Be Part of a Trump Presidency?

A look at what Trump can realistically can do. After the 1952 election, before turning the oval office over to Dwight Eisenhower, incumbent president Harry Truman told a visitor, “He’ll sit here, and he’ll say, ‘Do this! Do that!’ And nothing will happen. Poor Ike—it won’t be a bit like the Army. He’ll find it…

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Here’s What to Expect from Trump’s First Year In Office

Fortune’s predictions for the Trump presidency. We’re assembling our predictions for 2017 in our annual feature, the Fortune Crystal Ball. Here, our forecasts for the first year of the Trump presidency. Turning our gaze forward to the next administration is a fraught process, simply because Donald Trump’s stunning ascension to power in Tuesday’s presidential election…

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How Big Business Can Prepare for the Trump Presidency

It’s time to confront reality and plan. The many leaders in business and government worldwide whose scenarios for 2017 did not include this scenario will now confront reality and adapt. Where to begin? Think of the job in three categories: Adapting to massive policy uncertainty: Did Trump mean it when he said he might “renegotiate”…

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A Divided Country, A Divisive Election: Where Do We Go From Here?

Can America be united again? When the winner becomes clear – quite possibly late tonight, but whenever it is – Hillary Clinton or Donald Trump will step onto a stage and give a victory speech. One of the ritual elements of the speech will be a fervent intention to unite the country, to be “a…

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4 Reasons to Truly Hate Everything about the 2016 Election

Our leadership expert weighs in. We Americans have a long tradition of holding election-night parties, gathering friends around the TV to cheer or bemoan the results — but this year I propose a break with tradition. While this is kind of last-minute, it’s entirely feasible. Hold your party tonight instead. After all, we’ve got something…

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Don’t Blame Paul Ryan for Voting for Donald Trump

Fortune’s leadership expert, Geoff Colvin, says it was the principled move. Leaders in every field should pay close attention to Paul Ryan in weeks and months ahead. America’s highest ranking Republican as House speaker, he’s in an impossible situation facing irreconcilable conflicts between his duty, on the one hand, and his clear loathing for Donald…

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Here’s What President Hillary Clinton’s Top 3 Priorities Will Be

And how they’ll impact business Let’s assume Hillary Clinton wins. Heaven knows all assumptions are perilous in this election, but some polling conducted after FBI director James Comey’s bombshell announcement last Friday still shows Clinton maintaining her six-point pre-announcement lead over Donald Trump in a four-way race. More important, RealClearPolitics’ electoral map, which is updated…

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Here’s What American CEOs Most Fear About the Election

And business in 2016 What scares leaders now? It’s the obvious Halloween question, so let’s take a look, focusing especially on business leaders. It’s a deep question, and the answer to it depends on how deeply you want to probe. At the shallowest level, business leaders have no trouble speaking right up about fears for…

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Pundits Are Wrong. Donald Trump’s Brand Could Survive a Disastrous Election

Even if he loses big, his brand could become more valuable. Let’s assume Donald Trump loses. The polls and forecasting models could be wrong, of course; there’s a decent chance they’re underestimating turnout by Trump supporters. But let’s say the models are right and Trump wakes up in 12 days as a businessman deciding what…

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How Entrepreneurs Like Elon Musk and Reed Hastings Become Global CEOs

None of them were ready to be CEO of a big corporation when they launched their firms. Excellent leaders are rare, and some of the very rarest and best are of a specific type: entrepreneurs who start a successful company (a tiny percentage of total entrepreneurs) and who then continue to manage it well as…

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The Vitriol on Social Media Is Wearing Out Republicans and Democrats

A new study explains Anger and incivility are among the most striking features of this election, and everyone has an explanation (usually that it’s the other side’s fault). Now the Pew Research Center offers important new evidence based on actual data. The bottom line is that while social media are a blessing in many ways,…

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Why PGA Tour’s Pitch to China Is Such a Challenge

The Chinese government isn’t exactly embracing the sport. It’s easy for business leaders to forget that they’ve got more to worry about than advancing technology, regulation, the election, and the war for talent. There’s still China. Though it’s growing slower than it used to be and slower than the official statistics say, it’s still growing…

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Three Big Mistakes Leaders Make When Managing Millennials

And how to fix them. Millennials have become the largest demographic in the workplace. But managers of all ages have struggled to find the best way to connect with a wave of twenty- and thirtysomethings who do most of their typing with their thumbs, work wearing earbuds, and claim they can hold meaningful conversations while…

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The Moment that Donald Trump’s Downward Spiral Began

There was a tipping point. Pretty near every leader on earth, in business, government, or any other realm, has something riding on who will become the world’s most important leader, the U.S. president. Now that the debates are over, let’s review the ways we might foretell the outcome. They reveal not only what’s likely to…

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Why Walmart’s CEO Is Taking His Billion Dollar Risks

Doug McMillon seems to think they’re Walmart’s best chance to survive retail’s revolutionary era. Our unplanned theme this week is leaders taking risks. Tuesday it was Caterpillar CEO Doug Oberhelman’s high-stakes (but unsuccessful) bet on commodities and emerging markets, which is costing him his job. Yesterday it was the staggering risks that Neflix CEO Reed…

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The Real Reason Why Caterpillar’s Doug Oberhelman Is Leaving

Caterpillar’s CEO is retiring a year ahead of schedule. I was sorry to see Caterpillar’s announcement yesterday that CEO Doug Oberhelman would retire a year early, on January 1, after four years of falling sales. The board was right to act. But Oberhelman’s story is a reminder to all leaders that the phrase “high risk,…

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Hillary Clinton’s Goldman Sachs Speeches Don’t Matter. Here’s Why.

In any other election, Clinton’s Goldman Sachs speeches would have been big news. In the olden days, voters during presidential races would get into heated arguments over such amusingly quaint topics as tax policy, health care, and the future of Social Security. Back then, the release of a major candidate’s paid speeches to a leading…

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Why So Many CEOs Make John Stumpf’s Same Fatal Error

Both VW’s CEO and Samsung’s CEO made similar blunders. John Stumpf’s sudden retirement yesterday was no surprise. As Wells Fargo’s fake-accounts scandal continued to grow, it became clear that the bank couldn’t move on until Stump left the building. What makes the news interesting is that it fits a larger recent pattern, along with the…

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Why President George H.W. Bush Is ‘Looking Better and Better’

A lot of his so-called failings look like virtues now. You’ve got to wonder what George H.W. Bush thinks of this presidential race. You can wonder, but he won’t tell us, a reticence that may be one reason the 41st president is lately being reevaluated in a distinctly kinder, gentler way. Pulitzer-Prize winner Jon Meacham…

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A Brief Defense of Paul Ryan’s Torturous Relationship With Donald Trump

The critics are wrong. The House Speaker has pursued an honorable course. Imagine the agony of Paul Ryan now. On Monday the House Speaker, America’s top ranking elected Republican, said he would never again campaign with or for Donald Trump and would no longer defend him, in the wake of the now-infamous video released last…

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Donald Trump and Hillary Clinton Face the World’s Hottest Campaign Crucible

Their current struggles could be good training for whoever wins office. Can Donald Trump survive the crucible of a presidential campaign? Many people (including me) have bewailed our unique and arguably insane American system of choosing a president, requiring candidates to invest two years of exhausting non-stop work toward a highly uncertain outcome. What kind…

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Populist Rage Is Not a Leadership Strategy

The mainstream trend of rejecting “the elites” is going to backfire. Leaders face a particularly tough new challenge: Being a leader without being an authority. That imperative arises from the mainstream trend of defying and scorning authority. The evidence is all around us here in America, and it’s much more than a U.S. phenomenon. Consider…

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The AI Revolution: Why You Need to Learn About Deep Learning

Leaders need to start planning now for artificial intelligence. We’re taking a break today from the election and corporate scandals to do something that most leaders–in fact, most people–generally, don’t do often enough: Thinking great big thoughts about how technology will change our lives. Many CEOs tell me their greatest fear is being blindsided by…

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Mark Cuban Is Right: Donald Trump’s Campaign Is Hurting His Brand

Trump’s brand devaluation is already happening. “If @realDonaldTrump loses this election, im betting he personally goes bankrupt w/in 7 yrs. Thats how toxic his brand now is.” So tweeted self-made billionaire Mark Cuban yesterday. And while I take no position on the bankruptcy forecast, Cuban’s point about Trump’s brand is valid and important. Trump’s presidential…

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Donald Trump Could Win: What You Need to Do to Protect Your Business

The poll numbers are still close. It’s time to prepare. Business leaders around the world think consultant and bestselling author Ram Charan is worth listening to, and with good reason. Some 40 years of advising the world’s top CEOs has given him insights few can match. This morning he shares some of what he’s telling…

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What Donald Trump’s Disastrous Debate Can Teach Every Leader

A big takeaway for leaders in all sectors. Among the many questions raised by Monday’s presidential debate – Who won? Was Hillary Clinton wearing an earpiece? Why was Donald Trump sniffling? – was this one: Does rehearsing pay? Clinton reportedly rehearsed intensively, while Trump reportedly didn’t rehearse at all. The most impartial judges of the…

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Why Tesla’s Next Target Is the State of Michigan

And the auto industry should be worried. In the battle between disrupters and incumbent companies, the incumbents struggle mightily and often futilely against inertia. History, culture, and employee incentives propel them toward doom, try as they might to follow a new path. But their long history and great size do give them one great advantage:…

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Former Pimco CEO Mohamed el-Erian: Prepare for the Worst

Mohamed el-Erian says it’s time to prepare for the unexpected. I was listening yesterday to one of my favorite people,Mohamed el-Erian, chief economic adviser to Allianz and former CEO of Pimco, among other distinguished roles. For insight into economics and finance, plus an ability to communicate it clearly and memorably, he is hard to beat.…

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Why the Exorbitant Cost of UN Meetings Is Still Worth It

Even though it’s an antique ritual. New Yorkers call this week U.N. Week, the time every September when heads of state converge on Manhattan for the U.N. General Assembly. Which raises an obvious yet rarely asked question: In the digital age, why do they bother? It’s so unnecessary. Everyone could stay home and participate in…

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Critics Are Wrong: Samsung Handled Galaxy Note 7 Recall Just Fine

It took drastic steps to fix a problem that many users aren’t worried about. Did Samsung really bungle its Galaxy Note 7 recall as badly as conventional wisdom has quickly concluded? I’m not so sure. The U.S. Consumer Product Safety Commission issued its recall notice only yesterday, and the company should have coordinated its efforts…

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How Tesla and Uber Are Deftly Fighting Doubters and Critics

Uber’s Travis Kalanick and Tesla’s Elon Musk are using a damn-the-torpedoes strategy. A leader is someone who goes places before others do, and it’s never easy. The world seems to furnish 100 doubters for every visionary. Yet two leaders in the same broadly defined industry, Uber’s Travis Kalanick and Tesla’s Elon Musk, are meeting the…

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3 Surprising Facts from America’s Fastest Growing Companies

Some counterintuitive lessons. The first time I was told Wall Street was “over” was in 1987 after the Dow’s apocalyptic 22% one-day crash. Of course the Internet was over in 2000. So was biotech. Wall Street was over again in 2008. So was New York as a global financial capital. Investors worried that biotech was…

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How the Murdochs Failed Fox News and Enabled Roger Ailes

A classic management mistake. At one level of analysis, Fox News’s handling of the Roger Ailes scandal was a textbook example of crisis management done right. Former anchor Gretchen Carlson’s suit alleging sexual harassment by the boss was like a gift to the mass media, the kind of irresistible story that would keep attracting hordes…

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5 Crazy-But-Possible Election Scenarios

In 2016, these improbable outcomes must be considered. One of Sherlock Holmes’s most famous pronouncements was that “when you have eliminated the impossible, whatever remains, however improbable, must be the truth.” His point was that far too many of us dismiss what’s highly unlikely as impossible, when of course it isn’t – as this presidential…

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Apple’s EU Fine Is a Global Political Problem

How much longer until Tim Cook and other tech giant CEOs are invited to G20 Summits? Apple is a nation by another name. As of 4 p.m. Tuesday, the U.S. Treasury had $273 billion of cash and marketable securities on hand. At the close of business on June 25, the most recent date for which…

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It’s Time for Abercrombie to Fill Its Corner Office

The no-CEO strategy may work for some companies, but the clothing firm doesn’t fit the profile. Investors fled Abercrombie & Fitch yesterday, causing the stock to plunge 20%, after the company reported lower sales and a downbeat outlook. This is where I would normally mention the CEO’s name in boldface, but I can’t — because…

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Imagine if Donald Trump Knew How to Campaign

It’s not his policies that are setting him back. Just look at Brexit. Conventional wisdom holds that a “ceiling” prevents Donald Trump’s support from rising above a large minority of the electorate — that his strongly nativist, anti-trade, inward-looking policy positions will never appeal to a majority. I don’t buy it. If Trump doesn’t attract…

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All of the Outrageous Details from Viacom’s CEO $72 Million Pay Out

  The SEC filing reveals all the details. Today I get to do one of my favorite things (really) which is reading a long, complicated SEC filing on CEO pay. And this one, filed yesterday, is a doozy, the filing that reveals the deal former Viacom CEO Philippe Dauman made with controlling shareholder Sumner Redstone…

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What Hillary Clinton and Ryan Lochte Have In Common

Both violated basic rules of crisis management. The first rule of crisis management is “get it out and get it over.” Our case-study subjects are Hillary Clinton and Ryan Lochte, but this isn’t a nice, neat do-this-not-that situation. Neither did it right. But they did screw up in instructively different ways. The big news is…

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Why Trump’s and Clinton’s Promises to Revive Manufacturing Are Cruel

Those jobs aren’t coming back because the world has changed. It’s painful to hear Hillary Clinton and Donald Trump promising voters that they’ll bring back the past. An event scheduled for this week that you’ll probably hear nothing about is a reminder of why such promises are wrong and cruel. Both nominees are explaining how…

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Why Great Presidents Are Often Psychopaths

And this season, most of you are supporting a psychopath — and that’s okay. What do these presidents have in common? Theodore Roosevelt, Franklin Roosevelt, John F. Kennedy. When I saw that question posed by University of California Irvine neuroscientist James Fallon, my response was that they were the three most popular presidents of the…

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Why Popular Bosses Aren’t Always Great Leaders

Even if everyone loves your decision doesn’t make it right. Or wise. Leadership is, among other things, doing what others are not doing, without knowing how it will turn out, but believing it’s for the best. That sounds noble; it isn’t always. In other words, leadership isn’t always good. Consider two men in the news…

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Why VW Is In Deep Crisis — And GM Isn’t

A contrast in leadership. Two headlines this morning update my current favorite do-this-not-that study of leadership and culture. Here they are: “U.S. Said to Uncover Evidence of Criminal Acts in VW Probe” “Texas Judge Tosses GM Ignition-Switch Lawsuit” These two long-running stories are well known but the significance of the big-picture comparison is easy to…

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Ignorant or Evil? The Questions Dogging Both Trump and Clinton

It underscores a major leadership problem. Venezuelan President Nicolás Maduro is an extreme example – a really, really extreme example – of a widespread leadership problem. As mobs storm grocery stores and bakeries to avoid starvation, infant mortality rockets because hospitals lack electricity and medicine, people risk and sometimes lose their lives trying to leave…

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Trump and Clinton Fumble on Free Trade

Trade deals didn’t eliminate most of the lost manufacturing jobs in America. Which of the passages below is from which party’s official platform? -No. 1. We “will use all our trade enforcement tools to hold China and other trading partners accountable because no country should be able to manipulate their currencies to gain a competitive…

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Do American Voters Even Want Political Unity?

The evidence is mixed. Do Americans want a great unifier? It’s a question worth asking as the Democratic convention goes completely off script on Day One. In contrast to the Republicans’ gathering in Cleveland last week, this was supposed to be a disciplined, professionally run show displaying a party united for Hillary Clinton and against…

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Hillary Clinton’s Major Convention Challenge? Calming Dissent

Clinton will need to use the DNC to ease tensions with the party’s progressive wing. To impose some structure on your viewing of this week’s Democratic National Convention (or on your reading about it), consider tracking how party leaders – mainly Hillary Clinton, since it’s her show – manage these major challenges and opportunities: Challenges…

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Donald Trump Plays Off Globalization Anger

Trump made his campaign storyline clear: America’s problems come largely from outside our borders. In his speech accepting the Republican nomination Thursday night, Donald Trump broke every rule of conventional politics. Breaking the rules has worked extraordinarily well for him, but Thursday night’s speech was his first appearance in a new game, at a new…

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The Republicans Want Glass-Steagall Back

The so-called “Party of Wall Street” wants to enact a law that Wall Street hates. The Republican Party platform’s final version, released at the party’s convention in Cleveland, is the opposite of the Democrats’ platform in all the ways you’d expect and in one other way. While presumptive Democratic nominee Hillary Clinton speaks in snooze-inducing…

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How the Best Business Leaders Disrupt Themselves

And how doing so helps them keep up with technological change. Why isn’t Intuit intu dead? Its peers from the Pleistocene epoch of PC software (VisiCalc, WordStar) are long gone; only Intuit survives as a significant independent business. The reason is easy to state, hard to emulate: The company has continually disrupted itself, most recently…

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For Trump and Clinton, Conventions Will Be High-Stakes Leadership Auditions

The issues demanding attention are numerous and include many that a president must confront. Yet another pattern being broken in this bizarre political year: Summer is not the usual sleepy news-free season when the political conventions, though little more than high-budget infomercials, are the only big thing happening. Instead, the news events of the past…

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Is Trump a Bumbling Incompetent or a Canny Disrupter?

Trump’s unorthodox strategy will attract a lot of votes, but not enough to win. Donald Trump will likely announce his VP pick this week—the Republican convention starts July 18—and I have nothing to add to the one zillion words that have been written about it. Whoever his choice, it will further stoke a larger argument…

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Will Clinton’s Emails Ruin Her Presidential Run?

  Clinton’s salvation so far has been that when she looks bad, Trump looks worse. Polling has shown for months that Hillary Clinton would be the least liked presidential nominee in modern history if it weren’t for one thing: Donald Trump, who is regarded even more unfavorably. The who’s-worse choice facing American voters took another…

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Sizing Up Brexit’s Damage to American Business

Events outside the U.S. matter crucially to the largest U.S. firms. Our old model of how the developed world works is officially broken. Post-Brexit, the race is on to create the best new model for understanding – and predicting – what happens. Markets are still struggling to do so. Friday’s plunges in stocks and the…

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Brexit Fallout: World Leaders Should Wonder If They’re Next

Nationalistic, anti-immigrant, isolationist movements are rising in the developed world. Imagine what’s going through the mind of every developed country’s leader. Virtually all of them had endorsed the losing Remain side in the Brexit referendum, and now they’re wondering, What if that referendum’s equivalent had been held in my country? Nationalistic, anti-immigrant, isolationist movements are…

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Why Leaders Need to Know What Machines Can’t Do

  Some jobs really must be automated; others need the human touch. When stock markets plunged early this year, managers at USAA’s investments division noticed something odd. Customers who routinely conducted business online were suddenly lighting up the phones. USAA had nothing new to tell them—its fundamental advice hadn’t changed, and they could have found…

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Donald Trump’s Tax Return Refusal: Now It’s Just Getting Awkward

Hillary Clinton is in a strong position to pound him on the issue. News events have diverted attention from the issue of Donald Trump’s tax returns for several weeks, but it’s an important issue that will come back, which is why you should read this article now. Reporter and tax expert David Cay Johnston uncovered…

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What the Military Thinks About Trump and Clinton

Officers refuse to say, of course. But retired officials needn’t hold back. When President Obama tore into Donald Trump on Tuesday, many Washington hands noted that he did so with Marine General Joseph Dunford, chairman of the Joint Chiefs of Staff, standing next to him. That’s because the session had begun as a briefing on…

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Even After National Tragedy, Trump Refuses to Change His Game

Trump’s response to the Orlando shooting shows how far he is from pivoting to the general election. The only really interesting aspect of Donald Trump’s extraordinary response to the Orlando shooting is that it demonstrates how far he is from making the essential maneuver every presidential candidate must make at this point in the cycle…

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How the Orlando Tragedy Will Test Trump and Clinton

The test for Trump will be avoiding gaffes that would further enrage Muslims. The mass shooting in Orlando, sure to be the top news story in America for days to come, will be a test and an opportunity for leaders and for aspiring leaders Donald Trump and Hillary Clinton. Exactly how will depend on how…

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Donald Trump’s Many Unpaid IOUs

Trump has been unusually aggressive in withholding payments and fighting contractors in court. Donald Trump, deadbeat? Stories have circulated for years that Trump routinely stiffs contractors who work on his projects, in some cases supposedly telling them that, though he’s not paying them, they’ll make money just by being able to say they worked on…

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Here’s the Right Way to Make Unpopular Decisions

How to keep your team on your side, even in difficult times. When Air France’s leaders last fall announced a plan to cut 2,900 jobs, 3% of the total, they knew the move would be unpopular. But maybe they misjudged how unpopular. Later that day dozens of workers stormed a company conference room and ripped…

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Today’s Fortune 500 Has More Workers, But Makes Less Money

  Smaller and less profitable, but somehow with one million more workers than last year. The Fortune 500 isn’t a group; it’s a place. Think of it as a 500-story office building with a company on each floor. The building is always full, but the tenants change from year to year. And since we assign…

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What Future Leaders Need to Learn in College

What a liberal arts education gives you is growing more valuable, not less. This essay originally appeared in Power Sheet, Fortune’s daily leadership newsletter. Sign up here. To all the brand new college graduates who majored in a liberal arts field, I have a message: If you want to be a leader, you did the…

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Disney’s Bob Iger Barks Back at Bernie Sanders

But for most CEOs, emulating Iger must remain a cherished fantasy. I’m just speculating, but I’d bet money that Disney DIS -1.52% CEO Bob Iger’s inbox is bulging with emails from fellow CEOs saying, in effect, “Let him have it and don’t let up!” Which raises the question, Why don’t more CEOs do what Iger…

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Why The Anger That Has Lifted Sanders and Trump Is Here to Stay

A substantial number of voters think they’ve been cut out of America’s implicit economic deal. The “anger” hypothesis for explaining the rise of Donald Trump and Bernie Sanders has become the conventional one, and this is a rare occasion when I believe the conventional view is right. Recent news stories show why the Trump-Sanders phenomenon…

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3 Keys to Successful Long-Term Leadership

Here’s how a patient leader can resist impatient shareholders. Klaus Schwab has put the heft of the World Economic Forum, which he founded, behind the rising plea for longer-term thinking among business leaders. In his book The Fourth Industrial Revolution, he argues that managing for a more distant future is the somewhat counterintuitive key to…

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Meet Donald Trump’s Stealth Challengers

Amid talk about the hopelessness of a third-party challenge to Trump, one is actually taking shape. Is Libertarian Lite about to have its moment? The strangest presidential race in living memory just keeps getting weirder. Former Massachusetts Governor William Weld said on Thursday that he wants to run for vice president on the Libertarian Party…

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The Race for the Least Bad Presidential Candidate

Each party has chosen a presumptive nominee whom America loathes. How did it come to this? At this point in the 2008 presidential race, when both parties’ candidates had become apparent, the Economist put John McCain and Barack Obama on its cover under the line “America at its best.” The magazine described McCain as “a…

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How to Think Like Bill Gates and Warren Buffett

As CEO, Bill Gates scheduled a week each year to read and think in a quiet location. One of the most important decisions every leader makes every day is how to spend his or her time. I’ve noticed that highly successful CEOs often allocate their time in unconventional ways. It makes sense; if they used…

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A Terrible Leadership Style That Never Goes Away

Despite its remarkably poor record, dictatorship has staying power in politics and business. Our topic from Monday morning’s news is a leadership style that never goes away, despite its remarkably poor record: dictatorship. While the relevant news is usually about nations, the issue arises often in business, as anyone with much organizational experience knows well.…

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CBS, Viacom Directors Fell Down on the Job Amid Sumner Redstone’s Decline

  When you buy stock in a company with a controlling shareholder, you’re just along for the ride. After a judge abruptly dismissed a lawsuit over Sumner Redstone’s mental competency on Monday, casual observers may conclude that the issue is settled – that at least in the view of Judge David Cowan, Redstone is competent.…

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How Paul Ryan Stumped Trump

Trump badly needs Ryan’s endorsement to gain stature with conservatives. Who’s got more power at this moment, Donald Trump or Paul Ryan? To put it another way, which one needs the other one more? We’re watching a fascinating exercise in the use of power, which will continue on Thursday morning when the two men meet…

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Say Goodbye to The Donald Trump of London

There are plenty of similarities between Boris Johnson and Donald Trump, but they’re misleading. On Thursday, we say goodbye, metaphorically, to London Mayor Boris Johnson. After two terms, he is not running (or standing, as they say over there) for a third in Thursday’s election. He gets scant attention in the U.S., but he deserves…

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Trump and Cruz Turn Their Backs on Ronald Reagan

Any hope of uniting the Republican Party behind Donald Trump is gone. Remember Ronald Reagan’s commandment? “Thou shalt not speak ill of another Republican.” What innocent days those now seem. On Tuesday, the Republican Party approached self-immolation, though that sounds rather final, and we surely have not come to the end of the story. The…

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Putting Marissa Mayer’s $55 Million Potential Exit Pay Into Context

  It’s the time of year for wailing over excessive CEO pay, and sometimes it is entirely justified. Our topic this morning is how much CEOs are worth, which is in the news and will be more so as proxy season progresses. Most noted was Friday’s SEC filing by Yahoo yhoo reporting that CEO Marissa…

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Stars Align for a Clinton-Trump Showdown in November

  And that should be great news for Hillary Clinton. The utterly dominant storyline across the media on Monday morning is that Donald Trump is now inevitable as Ted Cruz weakens and grows desperate. These storylines are important because they become self-reinforcing in media coverage, influencing voters and donors. Only actual news, such as voting…

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Mark Zuckerberg Makes a Power Grab at Facebook

The argument for Facebook’s governance setup is the same one in favor of benevolent dictators. After Facebook FB -0.02% announced stupendous results Wednesday – revenue up 52%, profits tripled, both measures leaping from already high bases – who would deny that CEO Mark Zuckerberg at age 31 is one of the great business leaders now…

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Explaining Donald Trump’s Massive Branding Power

Campaigns are marketing, candidates are brands, and Trump is the strongest in the race. Faithful readers with long memories know that I attributed most of Donald Trump’s early success to brand power. Campaigns are marketing, candidates are brands, and Trump was – and remains – the strongest brand in either party by a mile. Viewed…

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Tim Cook May Need to Confront a New Reality at Apple: Managing Decline

  Slowing growth is unavoidable for a hot company. Tim Cook has done a superb job managing the challenges of his first four-plus years as Apple’s @aapl AAPL -1.07% CEO. Now, with Tuesday’s deeply disappointing earnings report, he may need to confront a sharply different long-term challenge: managing declining expectations. Since taking over from Steve…

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Three Things Good Leaders Do in Bad Times

Generating optimism is part of the CEO’s job description. Is your organization depressed yet? The people whom business leaders lead are absorbing an onslaught of downbeat messages, and that’s a problem. Consider: The latest earnings reports are revealing the steepest drops since the recession. Many analysts assert that stocks are overpriced, pointing out correctly that…

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What You Need to Know About Donald Trump

A reading list for understanding Trump and for gauging what’s likely to happen at the convention. Everyone in the world of politics and everyone interested in it spent Wednesday absorbing a new reality: Donald Trump, after his powerful victory in New York, is now far likelier to be the Republican nominee than he had been…

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Here’s Why Netflix Is A Lot Stronger Than it Looks Right Now

Reed Hastings sees a future that others find difficult to grasp and he has pushed toward it. Netflix NFLX -13.01% reported earnings after the close on Monday, and the stock immediately dropped 8% in after-hours trading. So why do I argue that CEO Reed Hastings is leading this company brilliantly? Because he sees a future…

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How Jamie Dimon Defies Conventional CEO Wisdom

Dimon’s letter to shareholders leaves no doubts about where he stands or why. Many business leaders – especially in industries that stir strong feelings – still believe their best strategy is to keep their heads down. Avoid being noticed if possible. But that’s not leadership, as we’re reminded by J.P. Morgan Chase JPM 0.73% CEO…

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Panama Papers: Why None of Us Should Be Surprised

In a digital world, keeping secrets is far harder than it used to be. The beginning of the fallout from the Panama Papers is certainly dramatic, but everyone, especially leaders, must get used to such revelations. Even the release of 11.6 million private documents is only the continuation of a trend that will keep intensifying.…

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Starwood Hotels Lost its Chinese Suitor. Now It’s Marriott’s Challenge

Linkedin Share icons Investors fear that Marriott is paying too much for Starwood. The fight for Starwood HOT 1.02% is apparently over, but the story of what happened has yet to be told. We’ve been following this saga since Wu Xiaohui, CEO of China’s mysterious Anbang Insurance Group, disrupted a friendly deal for Marriott International…

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Your Feelings About Donald Trump Have Less to Do with His Words than You Think

To some, Trump’s distinctive speaking style shows he’s authentic. To others, it shows he’s reckless. Donald Trump’s gaffe of the day on Wednesday was his statement that “there has to be some form of punishment” for women who have abortions in the event that abortion is made illegal. The immediate global uproar forced his campaign…

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The Jobs Conundrum That Trump and Clinton Will Likely Ignore

Neither candidate has offered a clear policy to help Americans adapt to a fast changing work world. The issue of jobs is going to be a minefield for both parties’ presidential frontrunners. Will Hillary Clinton or Donald Trump dare to think about it creatively and campaign on it unconventionally? We’ll hear more about it on…

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Grading Yahoo’s Board

  CEOs get all the attention, but boards are where the important leadership is or isn’t happening. On Thursday, Starboard Value Fund’s Jeff Smith pulled the trigger on his threatened attempt to wage a proxy fight at Yahoo, and he’s firing a large-caliber weapon—attempting to replace the entire board of directors. It’s the latest action…

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What John Legend and Pope Francis Have in Common

  And why they both made our World’s Greatest Leaders list. Especially striking in our new ranking of the World’s 50 Greatest ­Leaders is how many of them you may not recognize. In our media-saturated, personality-obsessed global culture, how can that be? Yet it is so, and that’s what makes this group so heartening. It…

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The World’s 50 Greatest Leaders

  Demagoguery, pandering, even populism aren’t leadership. Here’s what is. Especially striking in our new ranking of the World’s 50 Greatest ­Leaders is how many of them you may not recognize. In our media-saturated, personality-obsessed global culture, how can that be? Yet it is so, and that’s what makes this group so heartening. It turns…

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We Look to the Fed to Fix the Economy Because Congress Is Broken

The Fed is the only policymaker left to watch. In a familiar ritual, all eyes will be on the Fed next month to see if it raises interest rates, after Atlanta Federal Reserve Bank president Dennis Lockhart said he thought conditions looked favorable for an increase. But hold on—let’s take two steps back and ask…

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Barack Obama and Apple’s Tim Cook Separately Try to Break New Ground This Week

Obama’s visit to Cuba and Cook’s latest product announcements are forays into high stakes territory. It’s a busy week in the world of power and leadership. Four events will be especially revealing: -Obama in Cuba and Argentina. The president’s historic visit to Cuba, begun on Sunday, will rightly get more attention than his stop in…

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Republicans Just Can’t Catch a Break

House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell are feeling the heat. Like the rest of us, leaders have good days and bad days, only the beta is bigger, as Wall Street traders say – the ups rise higher and the downs plunge lower. Thursday was a bad day for three leaders: -Mitch…

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The Surprising Slowdown in Startups

New research finds that high-growth young U.S. firms are in decline. What if the conventional view of startups and entrepreneurship in the U.S. turns out, like so many conventional views, to be wrong? Substantial recent research suggests that it is. So brace yourself for decidedly counterintuitive findings that may help explain some of our era’s…

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GM’s Mary Barra Continues to Surprise, and Impress

So far, Barra has offered several reasons to be optimistic about the auto giant’s future. I continue to be impressed by Mary Barra’s leadership of General Motors GM 0.85% . Time and again she causes me to smite my forehead, at least figuratively, and ask, “This is GM?” The latest example is GM executive Michael…

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How the Republican Party Could Have Stopped Donald Trump

Different rules might have spared Republicans this forced march to likely defeat in November. The Democratic nomination is about locked up after Tuesday, while the Republican nomination is not. Regardless of who ends up as the nominee—I refuse to make a prediction, having been surprised by pretty much everything that has happened so far—the Republican…

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Marriott’s CEO Must Confront One of the Biggest Tests of His Career

The Marriott-Starwood merger is in jeopardy, with a new, higher offer from China’s Anbang Insurance. It’s crunch time for Marriott CEO Arne Sorenson, and we’ll get a close-up view of high-stakes leadership over the coming weeks. In general terms his situation is one we’ve seen many times. He has a deal to buy another company,…

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Yahoo Just Gave Marissa Mayer Some Major Help

  Yahoo is preparing for a potential proxy fight with Starboard Value’s Jeff Smith. Four high-profile leadership stories advanced significantly on Thursday. All have been developing for years. Here’s what’s happening now: -Yahoo added two new directors on Thursday, indicating that CEO Marissa Mayer and the board will continue to battle Jeff Smith’s Starboard Value,…

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Here’s Where Big Companies Are Now Looking for Talent

  Employers know how to value recruits. Now some are applying that approach to their own workers. So-called acqui-hires—buying a startup for the purpose of hiring its talented people—have become common among the likes of Apple AAPL 0.60% , Google GOOGL 1.26% , Microsoft MSFT 1.50% , and Facebook FB 1.18% . The result is…

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4 Economic Doomsayers You Can’t Afford to Ignore

  A few causes for concern within the market and the global economy overall. Wise leaders seek out voices they don’t agree with and news they don’t like. Right now, as always, such voices and news are out there if we look. When the good times were rolling in 2006 and 2007, few people wanted…

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Why Donald Trump Is Winning and Bernie Sanders Isn’t

Trump faces four rivals. Sanders faces one who has spent years building an air of invincibility. What’s the difference between Donald Trump and Bernie Sanders? That’s a real question, not the set-up for a punch line, and here’s what I mean. The two are in many ways remarkably similar. Each is trying to become his…

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What Donald Trump’s Rise Teaches Us About Leadership

Leadership is not noble or evil. It’s a tool that can be used for any number of purposes. I was having lunch a few days ago with an executive headhunter and a couple of colleagues, talking about the leadership issues at major companies, and as we left, one of them said, “We should congratulate ourselves—we…

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Warren Buffett’s Leadership Lessons

  In his annual letter to shareholders this year, three key leadership traits stand out. Warren Buffett’s annual letter to Berkshire Hathaway BRK.A 0.45% shareholders, released last Saturday, is scrutinized worldwide for economic and investing insights. Understandably so; in 2015 Berkshire had, guess what, another knockout year. Yet I can’t recall ever seeing it read…

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Tim Cook and Marissa Mayer Head into Battle

Leadership is often about combat, and today’s news is filled with instructive examples. Leadership is often about combat—that’s why we look to generals and admirals for leadership lessons—and today’s news offers four instructive examples: -Apple CEO Tim Cook vs. the FBI and director James Comey. Apple filed court papers on Thursday in its escalating fight…

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What a President Donald Trump Would Mean for the American Economy

The evidence of the past 70 years shows that presidents barely affect the economy at all. I was talking with a group of farmers on Tuesday, and one of them asked me how I thought the U.S. economy would fare under a Trump presidency. I responded that it’s very difficult to say how anything or…

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Tim Cook’s Fight with the FBI Goes Way Beyond Apple

  Could any of us be compelled by the government to create something new? Cook is raising the question The fight between Apple and the FBI has become so hot that it has captured the mind of the public, which means that it’s being oversimplified and distorted. In order to evaluate the leadership of Apple…

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How the World’s Most Admired Companies Weather Chaotic Markets

Effective leaders let their actions show their confidence in their company. On Friday, Fortune released its annual ranking of the World’s Most Admired Companies, which this year poses an intriguing challenge for leaders: What do you do if your company is greatly admired yet has lost billions in value in this year’s stock market plunge?…

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Apple CEO Tim Cook Takes a Bold Stand Against the FBI

  Cook is showing courage and leadership—though that doesn’t mean this will all turn out well. Just a brief note today in praise of Apple CEO Tim Cook. His decision to defy a court order in an extremely high-profile case is probably not as big a gamble as it may first appear, but it’s still…

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Scalia’s Death Just Ignited an Ugly War for the Supreme Court

The leadership tests will begin with Obama’s choice of a nominee and everything that will ensue. The Supreme Court vacancy war—it’s more than a mere battle—will be a revealing test of leadership, and you have to wonder if anyone will come out of it looking good. So far everyone involved is just doing what he…

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Elon Musk’s Daring Pays Off For Tesla

Tesla is now fully in the big leagues of luxury sedans. The latest news from Tesla TSLA -0.47% reveals new realities about the business environment that leaders in every industry need to understand. The company is circulating a table showing how 2015 unit sales of its Model S stack up against sales of other luxury…

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3 Standout CEOs Who Don’t Get Enough Attention

These CEOs are a reminder to keep an eye out for great performance happening outside the headlines. There are excellent leaders, and then there are leaders who get a lot of attention. The Venn diagram of these two sets shows limited overlap. Today, please observe three business bosses whose companies have been in the news…

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Donald Trump’s Rude, Reality TV-Style Campaign Is Going to Grow Old

Incivility may be an asset for a candidate, but it’s a major liability for a leader. Nastiness is a bad thing for leaders, but whether it’s a bad thing for presidential candidates remains to be seen. The latest evidence comes in a poll conducted for the Weber Shandwick communications firm and its Washington-based lobbying division,…

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The Hardest Part About Running for President

It’s the world’s longest, highest-stakes ironman triathlon. Running for president must be one of the most stressful activities a person can engage in. I realize that firefighters, hostage negotiators, Navy SEALs, and others go through times of indescribable stress, but they pass. Running for president takes two years, and as far as I can tell,…

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This Week, Keep Your Eye on Donald Trump and Vladimir Putin

The week’s most important news for business leaders may not be found on the business pages. The conventional business news this week will be dominated by earnings, as a raft of high-profile companies report. But the week’s most important news for business leaders may not be found on the business pages (print or digital). Consider:…

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Warren Buffett’s way

  Quietly flouting convention has been Buffett’s lifelong m.o. Berkshire Hathaway’s acquisition of Precision Castparts is the latest example. Over the next three weeks, the media will be clogged with forward-angled articles looking past the Warren Buffett era at Berkshire Hathaway as the legendary CEO and investor turns 85 at the end of the month.…

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Yahoo’s Marissa Mayer Ties Herself in an Ever-Tighter Knot

Yahoo chief Marissa Mayer seems finally to be acquiescing to shareholders’ demands but keeps talking as if she isn’t. In announcing earnings on Tuesday, which weren’t good, board chairman Maynard Webb said the magic words “exploring additional strategic alternatives,” which he said would be “in the best interest of our shareholders.” Translation: The company is…

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Iowa Caucus Results: Political Power Is Shifting to the Masses

  If you’re worried about the concentration of power, Monday’s Iowa caucuses was a good day. What does Donald Trump have in common with Aung San Suu Kyi? Absolutely nothing, obviously, except maybe this: On Monday, both illustrated a broad trend about where power comes from, and it may actually be cause for optimism. There’s…

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Here’s What You Need to Know About the Iowa Caucuses

  Iowa isn’t a typical state, and its voting procedures are nothing like what voters do elsewhere. Much of the world will be obsessed with the Iowa caucus results on Monday evening, and rightly so. We’re talking about choosing someone for the world’s most powerful and important leadership job. My plea is that, after months…

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A Simple, but Ultimately Useless, Way to Judge a CEO’s Performance

  Let’s not judge their performance based on their pay just because the math is easy. In a month or so, we’ll begin to see this year’s crop of corporate proxy statements, the annual SEC filings in which companies invite shareholders to the annual meeting, propose the election of directors, and—the hottest news—report the CEO’s…

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How the Best-Performing Companies Do More With Less

Being “asset light” helps them compete. Consider Walmart wmt , the leading 20th-century retailer, and Amazon amzn , the leading 21st-century retailer. By one metric they’re strikingly similar; their total market value is the same, about $250 billion each, according to consulting firm EVA Dimensions. But by another measure—one that goes to the heart of…

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An Unsolvable Business Problem You Can’t Afford to Ignore

  If you haven’t faced corruption yet, prepare yourself. I remember not many years ago talking with the CEO of a substantial but not famous publicly traded U.S. company, who was agonizing over what he should do in Brazil. His company had been operating there for a few years, doing well, but now he wondered…

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Tyco-Johnson Controls Gives Us a Window into the Business World’s Hardest Challenges

  One story, three important trends. Sometimes a single event illustrates several important trends that business leaders are confronting. Today’s example is the Tyco-Johnson Controls merger. Trend No. 1: deconglomerating. This one is embodied in the deal’s history; both companies are products of vigorous deconglomeration in recent years. Johnson Controls jci CEO Alex Molinaroli has…

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The Way Forward For McDonald’s and VW

  Here are a few forecasts for leaders in Tuesday morning’s news. Four fearless forecasts for leaders in Tuesday morning’s news: -McDonald’s CEO Steve Easterbrook will restore the company’s health by focusing on the basics. He got the job last March with the company’s performance in free fall. On Monday, he reported that U.S. same-store…

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Michael Bloomberg May Not Be What Voters are Looking For Anymore

  Bloomberg seems to believe voters want a bipartisan, non-ideological leader. The big question: Do they really? The most intriguing leadership news over the weekend is that former New York City mayor Michael Bloomberg is preparing for a possible presidential run. Whether he decides to run, and whether he succeeds if he does run, will…

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Business Leaders, The Public Wants to Trust You. Now’s Your Chance

  Show, don’t just say, how your organization contributes to the greater good. Then go ahead and earn high profits. In case the U.S. presidential race hasn’t tipped you off already, something new and strange is going on with the way people evaluate institutions and the leaders who run them. The evidence arrives in the…

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What We Can Learn From Adidas’ $1 Billion CEO Decision

  After Adidas announced its new CEO, it immediately gained $1 billion in value. It’s easy to forget how important one human being can be. You’ve probably never heard of Kasper Rorsted – I hadn’t until Monday – but he turns out to be a highly valuable man. Adidas announced that he would be leaving…

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Ford CEO Mark Fields’ Daring Attempt at Transformation

  Fields’ actions are easy to talk about and hard to do. Thousands, or perhaps even millions, of business leaders around the world are, in a large sense, going through what Ford f CEO Mark Fields is going through. But we could not have a clearer, sharper distillation of the issues they’re all facing than…

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Macy’s CEO Terry Lundgren Faces Several Different Threats

Its stock has plunged by almost half since last July, and activist investor Jeff Smith is urging the company to pursue real estate deals. What’s a leader supposed to do in a position like Terry Lundgren’s? He’s the CEO of Macy’s m and a hero of retailing in his nearly 13 years running the company.…

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Tim Cook’s Epic Growth Challenge at Apple

  Cook must make the world’s most valuable company more valuable, when conventional strategies would barely move the needle. One of the great business leadership challenges of recent years is playing out before us now, widely unappreciated for what it is. That’s a bold claim but easily justified. I’m talking about the challenge facing Apple…

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Yahoo’s Marissa Mayer Faces a Steady Stream of Crises

And she has company, including VW’s Matthias Müller and Chicago Mayor Rahm Emanuel. In a big organization, when things turn bad, they tend to get worse. We could hypothesize on why that is, but let’s skip it for now. It’s just a miserable fact of life for leaders, as we were reminded on Wednesday morning…

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How Disney and Google Are Preparing for the Business World To Come

  Right now, we are watching business chess at the grandmaster level. Leaders must be supremely confident about where they’re taking their organization, or at least look like they are, in order to be effective. Who wants to follow someone who’s lost? One of the most engaging parts of studying leadership is watching leaders decide…

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The Deceivingly Simple Reasons Behind Donald Trump’s Rise

  Trump is doing four things that effective leaders do, and doing them extremely well. The Trump boom continues to grow, and the political pros who have missed it from day one are scrambling for explanations. Hillary Clinton, Bernie Sanders, and Martin O’Malley made sure to bash him during their debate on ABC Saturday night,…

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Martin Shkreli’s 15 Minutes Are Up

  As a business leader, his story is over. As the world devours the irresistible details of Turing Pharmaceutical CEO Martin Shkreli’s loathsome behavior, which became front-page news after his arrest by federal authorities on Thursday, many people are surely wondering how someone like him could have risen so far, so fast. The answer is…

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Chipotle’s E.coli Fiasco Teaches Us How Not To Respond to a Crisis

  One of its CEOs blamed the CDC and the media. The other apologized. Our topic this morning is crisis leadership, with a couple of excellent “do-this-not-that” examples helpfully arranging themselves in this morning’s news. The first example is really hard to beat because both sides of the lesson are in the same company, Chipotle…

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The Benefit of Baring It All

The latest revolution in the Information Age is making sure everybody has it. Here’s why smart managers are opening the corporate kimono as never before. Radical transparency isn’t a new idea, but technology is making it a newly powerful one that successful 21st-century corporations will increasingly embrace. The basic notion—sharing all kinds of once-confidential information…

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Why Rahm Emanuel’s Damage Control Is Not Working

In a previous era, Emanuel could have moved confidently through this crisis by following the strategy he’s using. But it’s not working now. Rahm Emanuel has been a rich leadership story since the day he became mayor of Chicago in 2011, and Wednesday’s events show how the drama is growing even more intense. He delivered…

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Planning for the No-Jobs, Post-Work Economy

It’s not coming soon, but business leaders better be ready to talk about it. Any leader’s most important jobs include deciding which crazy ideas to take seriously. This is most apparent with technology. The Internet? Twitter? Candy Crush Saga? All obviously crazy, except they weren’t. The same principle applies to economics, culture, and social trends,…

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Marissa Mayer May Be Running Out of Options at Yahoo

A consensus seems to be forming that Mayer’s rescue plan for Yahoo isn’t working. The Marissa Mayer leadership saga continues, and the latest developments again look dire for our protagonist. SunTrust Robinson Humphreys analyst Robert Peck yesterday issued a report listing 10 possible successors for Mayer as CEO of Yahoo. The report by itself might…

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French President Hollande’s Great Leadership Reversal

Hollande is at the center of global debates on terrorism, climate change, and economic policy, making him the world’s most instructive case study on leadership. When a leader reverses positions diametrically, is he or she responding wisely to new circumstances, or weakly abandoning principles under pressure, or cynically triangulating among political forces? Those eternal questions…

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Pfizer’s CEO Isn’t a Hero or a Villain

In a world of simple economics, the Pfizer-Allergan merger wouldn’t raise an eyebrow. Of course, the world isn’t that simple. Pfizer CEO Ian Read has become either a hero or a villain. He acknowledges readily that his giant deal to merge with Irish-domiciled Allergan AGN is meant mostly to reduce his company’s taxes by billions…

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Grading Marissa Mayer’s Yahoo Turnaround Attempts

Envisioning any kind of long-term future for Yahoo is growing increasingly hard. Marissa Mayer’s three-year effort to turn around Yahoo has been a major-league leadership saga, as it was destined to be. Events of the past few days suggest – but don’t yet dictate – that the saga is in its final chapters. Yahoo YHOO…

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Do Successful CEOs Sleep Less Than Everyone Else?

Inadequate sleep is more harmful than most of us realize. Is Donald Trump superhuman? Or is he depressed, cranky, and making poor judgments? Or is he fibbing? The issue arises because in last week’s Republican debate he mentioned that he sleeps just three to four hours a night. He’s been saying this for years. The…

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Parisians Defy Fear After the Attacks

Across Paris, people with nothing in common ignored prudent advice and did what they knew to be right. That’s what leaders do. Patrick Pelloux is an emergency room doctor who for years has written articles for the satirical magazine Charlie Hebdo. He was near its office in January when terrorists attacked it. He rushed to…

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The Best Advice From Fortune Global Forum 2015

  Top CEOs and VCs on how to survive disruption, lead better, and stop being ‘so damned depressed.’ If you bring together founders of the digital companies that are reshaping the world economy and the corporate aristocracy that has dominated commerce for decades, will they have anything to talk about? Turns out they’re ravenous to…

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Aung San Suu Kyi’s Simple Lesson for Myanmar, and The Rest of the World

Authenticity—the willingness to live the right message at any cost—is the true power of leadership. The astounding apparent results of the Myanmar elections are a dramatic chapter in one of the great leadership stories of the past 30 years, but only a chapter; this story is far from over. The story’s theme is that crafting…

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This is What CEOs Are Worrying About the Most

Call it the “Uber Syndrome.” New research released today sheds light on the big themes of this week’s Fortune Global Forum in San Francisco. The research answers two central questions: What worries today’s business leaders most? And how are the most successful leaders responding? The answer to question No. 1 is clear: What worries business…

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Life is Hard for Spins-offs. Here’s Why That’s a Good Thing

Redpoint Ventures VC Geoff Yang says there’s an upside to insecurity. One reason corporate spin-offs work is that they make life hard for the spun-off business. That insight comes from Geoff Yang, a partner in the Silicon Valley venture capital firm Redpoint Ventures, speaking at the Fortune Global Forum in San Francisco. And it makes…

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Microsoft and Dell are ditching employee performance reviews

Here’s why that may not be a great move. The media have begun to notice that several big, famous companies—Microsoft, Dell, Accenture, New York Life, and many more—are abandoning one of the most loathed traditions in management: the performance review. The Wall Street Journal noted the trend a few days ago, and last month the…

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Meat-cancer connection: How should the food industry respond?

If meat producers don’t respond wisely, they run the risk of becoming a declining industry and a social pariah. As you may have heard, a committee of the U.N.’s World Health Organization announced on Monday that processed meat causes cancer. This wasn’t the typical announcement of a new research study saying this or that “may…

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Amazon earnings: Maybe investors aren’t obsessed with short-term gains?

Many leaders believe they must aim for short-term wins to please Wall Street. But Amazon is the most famous counter-example. Is short-termism the scourge of capitalism? If you asked 100 people I suspect you’d get 95 yeses. But I’m a skeptic of that view, and Amazon’s earnings report on Thursday reinforces, surprisingly, the case that…

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Why every aspect of your business is about to change

  Imagine an economy without friction—a new world in which labor, information, and money move easily, cheaply, and almost instantly. Psst—it’s here. Is your company ready? Cars bursting into flames are never a good thing. So when a Tesla Model S ran over a metal object in Kent, Wash., in October 2013 and burst into…

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Have patience with Walmart’s wobble

  Walmart’s problems were a long time in the making, and they’ll take time to fix. Shareholders should be patient with CEO Doug McMillon Walmart shocked Wall Street on Wednesday morning when CFO Charles Holley told a group of stock analysts that this year’s sales and profits would be lower than previously forecast, and profits…

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General Electric’s transformation just took a big step forward

The industrial giant offloaded a large chunk of its finance business to Wells Fargo. General Electric chief Jeff Immelt has sold a $32-billion portfolio of loans and leases to Wells Fargo WFC , the latest move in his strategy of abandoning GE’s giant finance business and transforming the company into a 21st-century web-enabled industrial enterprise.…

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Sumner Redstone and Viacom are ailing together

Sumner Redstone, the 92-year-old chairman of CBS and Viacom, does not seem able or willing to relinquish control. Some leaders simply can’t let go. That was made very clear on Wednesday morning, in a Wall Street Journal piece about Sumner Redstone, the 92-year-old chairman of CBS and Viacom. The issue arose separately last week when…

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Ellen Kullman’s resignation exposes one major failure at DuPont

  DuPont is an aristocrat of American enterprise. It’s hard to believe that it had no one lined up to step into the CEO’s job at a moment’s notice. Of the many surprises surrounding Ellen Kullman’s abrupt departure as DuPont’s CEO on Monday, the greatest is being largely overlooked in the news coverage: It’s the…

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What the breakup of the global economy means to investors and managers

The world’s biggest economies are no longer moving in lockstep—and that makes the world more risky. Just how aligned is the global economy? To what extent is it one comprehensible system, as opposed to a lot of independently operating systems? Getting the answer right is crucial for anyone who wants to manage or invest wisely—and…

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Here’s what Elon Musk and Ralph Lauren have in common

Sometimes a leader’s vision is a distraction from what needs doing. But when a vision is real, its power is beyond imagining. Two of my favorite CEOs are in the news, and while they could scarcely be more different, they share a leadership trait that’s worth a closer look: vision. I know, not every company…

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Whole Foods, FIFA, and how leaders can respond to bad news

  Facing bad news is a large part of what leaders get paid to do, and how they do it is an excellent measure of leadership. The legendary consultant Ram Charan likes to ask CEOs, “Are you hearing lots of bad news?” If not, that’s a problem. Every organization has bad news every day, and…

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VW’s new CEO already has a very, very long to-do list

Matthias Mueller faces one of the largest leadership challenges in recent business history. Who’s the leader most worth watching now? The field of candidates is crowded and includes the new Speaker of the House, whoever it might be; Vladimir Putin, craftily widening his influence in the Middle East; and President Obama, negotiating with Putin and…

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Don’t mess with the SEC’s Mary Jo White

Some wish Wall Street’s top cop would crack down harder on the big banks, but she’s maintaining her reputation as a serious enforcer. The Securities and Exchange Commission attracts little attention except when there’s financial trouble, and then it gets tons. Today the lingering trauma of the financial crisis is drawing plenty of notice to…

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Volkswagen’s scandal management: Needs improvement

The quality of Volkswagen’s response to its emissions scandal is decidedly mixed so far. And time is of the essence. We’re about to find out whether Volkswagen’s leaders passed Scandal Management 101. The initial signs are decidedly mixed. To no one’s surprise except maybe his own, CEO Martin Winterkorn resigned on Wednesday after a meeting…

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Volkswagen CEO Martin Winterkorn’s drastic fall

  Martin Winterkorn may be out the door at VW. The auto giant’s emissions scandal is a terrible story that will be rich with leadership lessons. A German newspaper reported on Tuesday morning that Volkswagen CEO Martin Winterkorn will be fired by the end of the week. The report is unconfirmed, but it’s totally unsurprising;…

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Carly Fiorina’s disastrous record as HP’s CEO

  The more closely voters examine Carly Fiorina’s record as HP’s CEO, the worse she’ll look. A new CNN poll released yesterday shows that Carly Fiorina has surged in the rankings since her impressive performance in the Republican candidates’ debate Wednesday evening. She had 2% to 4% support pre-debate and now has about 15%, taking…

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How CEO Mary Barra is using the ignition-switch scandal to change GM’s culture

“I never want to put this behind us,” the CEO told stunned employees. The announcement yesterday of a $900-million settlement between General Motors GM and the U.S. Justice Department in the ignition-switch case reveals new information about CEO Mary Barra’s continuing cultural rehab of the company. It’s an unusually powerful story so far—and one reason…

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Republican debate: How Donald Trump and Ben Carson stood out

The two most successful Republican presidential candidates so far are the loudest one and the quietest one. If you had just landed from Mars on Wednesday night, having never heard of the Republican candidates or seen a polling number—if all you had to go on was what you saw in the debate on CNN—whom would…

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Why crazy market swings can be a good thing

Our interconnected global markets may slip into occasional madness, but they bring more liquidity and opportunity, too. Investors from Manila to Munich to Manhattan were aghast at the spectacle of market contagion during August’s global stock-price meltdown—all those markets and many more took a heavy hit. What’s an investor to do when a bursting bubble…

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Global stock market plunge: How leaders should respond

What counts is showing fearlessness, regardless of whether you’re actually afraid. As markets plunge around the world, how should leaders respond? Let’s assume you’re leading not a nation or a central bank – you can’t control the economy – but rather are leading pretty much anything else. For a model of how to react, I…

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For GE, breaking up is hard to do

The company is radically streamlining itself. But are the changes radical enough? When Jeff Immelt made the biggest announcement in his 14 years as General Electric’s CEO this past April, he did it the same way he handles ordinary news, in an 8:30 a.m. conference call with Wall Street analysts. But this time the revelation…

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Donald Trump’s tragic flaw

  Trump may be doing something no leader should ever do: letting adulation wreck his judgment. Is Donald Trump campaigning his way into business trouble? NBC, apparently not content with having cut all ties to Trump in June after his comments about Mexican immigrants, fired him again on Thursday when NBC Entertainment chairman Bob Greenblatt…

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Google’s leadership moonshot

  Only a tiny fraction of entrepreneurs achieve great success, and only a tiny fraction of those make the leap from visionary founder to corporate CEO. Monday’s Google news highlighted an extremely rare breed of leader: Hyper-successful entrepreneurs who continue to manage their companies as massive global institutions. Only a tiny fraction of entrepreneurs achieve…

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Republican debate: Would you follow any of these leaders?

Amid the staggering volume of analysis of Thursday’s GOP debate, it helps to remember that these candidates are competing for the biggest leadership job in the world. Amid the staggering volume of analysis of 200 minutes of debating among 17 assorted Republicans yesterday, it helps to keep a few fundamentals in mind. One, these candidates…

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What all business leaders need now? Fearless imagination.

Virtually every company today is, in some part, a tech company. And being the leader of a tech enterprise doesn’t demand deep tech skills. It demands openness to new possibilities. I started hearing it years ago: “We’re actually a technology company with [fill in the blank],” CEOs of every kind of business were saying. “We’re…

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Humans are underrated

  As technology becomes more dominant in the workplace, here are the three job skills that you need to thrive. As the Pepper robot from Softbank scurries about your home or office, it reads your emotions by your words, tone of voice, facial expressions, and body language. It then responds in all those ways; its…

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Q&A with Geoff on Humans Are Underrated

Q: Many argue that robots will soon take all our jobs and make humans irrelevant. Yet you don’t hold this viewpoint – why not? A: Because for sound economic reasons, we won’t want technology to do that. We are hardwired from our evolutionary past to value human relationships, and as a practical matter we must…

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Women make groups smarter

On average, women exhibit greater social sensitivity than men. And social sensitivity is a major contributing factor in group intelligence.

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Why foreign CEOs should care about Ukraine

Europe’s second largest country is suffering immensely, but it’s a key food producer, which is why it’s critical to companies like Deere and Caterpillar — and why China recently secured rights to use 7.4 million acres of its arable land.

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What Lego has in common with Apple

The blockbuster box office results for The Lego Movie underscore the Danish construction-toy company’s success. And it shares a key quality with Apple — one that more companies should emulate.

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You can be sure that policy uncertainty is here to stay

Don’t accuse CEOs of whining when they complain that they are hamstrung by Washington’s failure to agree on long-term economic policy. New research shows that policy uncertainty really is higher than ever before — and is damaging the economy.

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Wal-Mart goes for youth

New CEO Doug McMillon has some tough expectations to meet, but being young (he’s 47) may help the retailer show the world it has a vibrant future.

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How chewy cookies altered P&G’s destiny

If not for the Duncan Hines packaged chocolate chip cookie, A.G. Lafley’s life story, the wealth of P&G shareholders, and even our understanding of corporate strategy might have been very different.

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Deciphering the madness of the Murdoch method

In the midst of a scandal that reaches new lows every day, Rupert Murdoch’s reactions have ranged from the canny and shrewd to the absurd. Given his tight control over News Corp., don’t expect any changes soon.

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Pricing the future: How we value derivatives

Our Weekly Read column features Fortune staffers’ and contributors’ takes on recently published books about the business world and beyond. We’ve invited the entire Fortune family — from our writers and editors to our photo editors and designers — to weigh in on books of their choosing based on their individual tastes or curiosities. In this installment, senior editor-at-large Geoff Colvin reviews Pricing the Future: Finance, Physics, and the 300-Year Journey to the Black-Scholes Equation, George G. Szpiro’s account of how derivatives get priced.

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What not to learn from Steve Jobs

Business people the world over face the challenge of finding inspiration in Jobs without deluding themselves into thinking they can figure out how to do what he did.

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Needed: More of Steve Jobs’ courage

Today’s economic chaos is paralyzing many managers with fear. But as Steve Jobs, Warren Buffett, and other business champions keep showing us, risking failure is your only hope. Here’s what business courage means now.

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The trembling at News Corp has only begun

The scandal’s potential damage to News Corp. has already gone beyond News of the World. But will the company’s directors remember their duty to represent the interests of shareholders not named Murdoch?

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