The document discusses the findings of a study of over 1,500 global CEOs regarding how business leaders can capitalize on complexity in today's interconnected world. It identifies three primary perspectives held by public and private sector leaders: that rapid escalation of complexity is the biggest challenge facing them, their enterprises are not equipped to cope effectively with this complexity, and creativity is the most important leadership competency for navigating complexity. The document recommends that leaders embrace complexity rather than avoid it, reinvent customer relationships, and develop operating dexterity in order to capitalize on complexity.

1. Capitalizing
on Complexity
Insights from the
Global Chief Executive
Officer Study

3. This study is based on face-to-face conversations with more than 1,500 chief executive officers worldwide.

4. Samuel J. Palmisano
Chairman, President and Chief Executive Of cer
IBM Corporation

5. Letter from the Chairman
A note to fellow CEOs
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6. Capitalizing on Complexity
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Samuel J. Palmisano
Chairman, President and Chief Executive Of cer
IBM Corporation

7. Table of contents
# # -3#-;(#(&)&+(*%#3+)#*-"0;*$&0# ]#
# # 95&*;$/<&#);44+(6# ^
Introduction Stand out in a complex world 13
Chapter One Embody creative leadership 23
Chapter Two Reinvent customer relationships 37
Chapter Three Build operating dexterity 51
The CEO Agenda How to capitalize on complexity 63
# # Q-(#.;($%&(#/".-(4+$/-"# _N

8. Capitalizing on Complexity
How our research was conducted
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Figure About our research
More than , CEOs worldwide participated in this study.
13%
20% 21%
Public
Communications 25%
Growth Markets* North America
25%
Distribution
12%
24% Japan
Industrial
42%
18% Europe
Financial Services
Sectors Regions
*Growth markets include Latin America, Asia Paci c (excluding Japan), Middle East and Africa.

9. How our research was conducted
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10. Capitalizing on Complexity
“Complexity should not be viewed
Executive summary
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11. Executive summary
Embody
The most successful organizations co-create products and services
creative
with customers, and integrate customers into core processes.
leadership Student perspectives
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12. Capitalizing on Complexity
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13. To
capitalize on
complexity...

15. Introduction
Stand out
in a complex
world
Most CEOs seriously doubt their ability to cope
with rapidly escalating complexity. Yet one set of
organizations has consistently performed well.
How do these Standouts mitigate complexity and
even convert it into opportunity?

16. Capitalizing on Complexity
A drastically different world
“You feel ready, !"*(&+)/"216#/"$&(*-""&*$&0#&*-"-4/&)7#&"$&(,(/)&)7#)-*/&$/&)#+"0#
but ready for what?”
2-<&("4&"$)#%+<&#2/<&"#(/)&#$-#<+)$#"&3#-,,-($;"/$/&)C#Y;$#+#);(,(/)/"2#
Andreas Coumnas, D+(+3)(3&P)%$:.1%& ";4G&(#-.#89:)#$-10#;)#$%&6#.&&1#/11B,(&,+(&0#.-(#$-0+6E)#4-(&#*-4,1&5#
L2%15$6&C+,.)*1%$&')%:1),
&"</(-"4&"$C#!"*(&+)&0#*-""&*$/</$6#%+)#+1)-#*(&+$&0#)$(-"2# # "0#
K+
$--#-.$&"#;"A"-3"# #"$&(0&,&"0&"*/&)C#Q-(#$%/)#(&+)-"7#$%&#;1$/4+$&#
K/
*-")&M;&"*&#-.#+"6#0&*/)/-"#%+)#-.$&"#G&&"#,--(16#;"0&()$--0C
W$/117#0&*/)/-")#4;)$#G&#4+0&C#U)#89:)#$;("#$%&/(#+$$&"$/-"#$-#2(-3$%7#
+#)/2"/'*+"$#";4G&(#)+/0#$%&/(#);**&))#0&,&"0)#-"#0-;G1/"2#$%&/(#(&<&";&#
.(-4#"&3#)-;(*&)#-<&(#$%&#"&5$#'<&#6&+()C#U#I&1&*-44;"/*+$/-")#89:#
/"#Y(+e/1#,(&0/*$&07#@I%&#)&(</*&)#$%+$#+**-;"$#.-(#^>#,&(*&"$#-.#-;(#(&<&";&#
$-0+6#3/11#-"16#G&#-;(#)&*-"0B1+(2&)$#)-;(*&#-.#(&<&";&#/"#'<&#6&+()CD#
Q/"0/"2#$%&)&#"&3#*+$&2-(/&)#-.#2(-3$%#/)#"-$#&+)6#/"#+"#&"</(-"4&"$#
*%+(+*$&(/e&0#G6#+"#;"$-10#";4G&(#-.#0/)*(&$&#4+(A&$)7#,(-1/.&(+$/"2#,(-0;*$#
+"0#)&(</*&#*+$&2-(/&)7#+"0#&<&(B/"0/</0;+1/e&0#*;)$-4&(#)&24&"$)C
I%/)#4&+")#89:)#4;)$#)%+A&#;,#$%&/(#,-($.-1/-)7#G;)/"&))#4-0&1)7#-10#
3+6)#-.#3-(A/"2#+"0#1-"2B%&10#+));4,$/-")C#I%&6#%+<&#$-#+00(&))#3%+$#
*;)$-4&()#"-3#*+(&#+G-;$#+"0#(&+))&))#%-3#<+1;&#/)#2&"&(+$&0C#
L/$%#.&3#&5*&,$/-")7#89:)#&5,&*$#*-"$/";&0#0/)(;,$/-"#/"#-"&#.-(4#
-(#+"-$%&(C#I%&#"&3#&*-"-4/*#&"</(-"4&"$7#$%&6#+2(&&7#/)#);G)$+"$/+116#
4-(&#<-1+$/1&7#4;*%#4-(&#;"*&($+/"7#/"*(&+)/"216#*-4,1&5#+"0#)$(;*$;(+116#
0/..&(&"$C#U"#!"0;)$(/+1#X(-0;*$)#89:#/"#$%&#g&$%&(1+"0)#);44&0#;,#
$%&#)&"$/4&"$)#-.#4+"6#3%&"#%&#0&)*(/G&0#1+)$#6&+(#+)#@+#3+A&B;,#*+117D#
+00/"2#$%+$#@/$#.&1$#1/A&#1--A/"2#/"$-#$%&#0+(A#3/$%#"-#1/2%$#+$#$%&#&"0#-.#
$%&#$;""&1CD

17. Stand out in a complex world
Figure Organizations are experiencing signi cant upheaval
Changes in the new economic environment are large-scale, substantial and
drastically different.
13% 18% 69% More volatile
Deeper/faster cycles, more risk
14% 21% 65% More uncertain
Less predictable
18% 22% 60% More complex
Multifaceted, interconnected
26% 21% 53%
Structurally different
Sustained change
Not at all/to a limited extent To some extent To a large/very large extent
I-0+67#+)#-(2+"/e+$/-")#&4&(2&# # (#,(&,+(&#$-#&4&(2&# #(-4#+#*-"'0&"*&B
K- K.
0(+/"/"2#21-G+1#(&*&))/-"7#4+"6#1&+0&()#+04/$#$%&6#(&+116#0-"E$#A"-3#
3%+$#$-#&5,&*$#"&5$C#g&<&($%&1&))7#/"#-;(#*-"<&()+$/-")#3/$%#89:)7#3&#
2+/"&0#/")/2%$#+G-;$#$%&#,+$%#.-(3+(0C#!$#3/11#(&M;/(&#&"$/(&16#"&3#1&+0&()%/,# “This economic downturn
was far more than just business
)$61&)7#"&3#+,,(-+*%&)#$-#G&$$&(#;"0&()$+"0/"2#*;)$-4&()7#+"0#"&3#+"0#
cycle uctuations. We view
T&5/G1&#)$(;*$;(&)#.-(#$%&/(#G;)/"&))&)C#
it as a true paradigm shift
Global shifts compound complexity that is revolutionizing not only
business, but global social
89:)#$-10#;)#$%+$#$%&#*;((&"$#$(&"0#$-3+(0#21-G+1/e+$/-"#3-;10#"-$#1&$# structures as well.”
;,C#I%&6#+"$/*/,+$&#)%/.$/"2#-.#&*-"-4/*#,-3&(#$-#(+,/016#0&<&1-,/"2#
Fumiyuki Akikusa, President
4+(A&$)7#+"0#.-(&)&&#G/22&(#2-<&("4&"$#+"0#%&+</&(#(&2;1+$/-"#+%&+0C# +(9&KLM6&D).42=)4/)&QRS&D1%3+(&
I%&)&#)%/.$)#+(&#;"6/&10/"2#+"0#*-"$(/G;$&#$-#$%&#)&")&#-.#+#3-(10# 8.+(,$E&8$:2%).)$4&K1F6&T.9F
2(-3/"2#4-(&#;"*&($+/"7#<-1+$/1&#+"0#*-4,1&5C

18. Capitalizing on Complexity
!"$&(&)$/"2167#</&3)#-"#$%&#)$(&"2$%#+"0#/4,+*$#-.#$%&)&#)%/.$)#0/..&(#G6#
<+"$+2&#,-/"$C#!"#g-($%#U4&(/*+7#3%/*%#.+*&0#+#'"+"*/+1#*(/)/)#$%+$#1&0#$-#
2-<&("4&"$)#G&*-4/"2#4+F-(#)$+A&%-10&()#/"#,(/<+$&#&"$&(,(/)&7#89:)#
+(&#4-(&#3+(6#-.#@G/2#2-<&("4&"$D#$%+"#89:)#&1)&3%&(&C#U#.;11#^_#,&(*&"$#
+"$/*/,+$&#2(&+$&(#2-<&("4&"$#/"$&(<&"$/-"#+"0#(&2;1+$/-"#-<&(#$%&#"&5$#
'<&#6&+()7#*-4,-;"0/"2#$%&/(#)&")&#-.#;"*&($+/"$6C#
!"#c+,+"7#_d#,&(*&"$#-.#89:)#&5,&*$#$%&#)%/.$#-.#&*-"-4/*#,-3&(#.(-4#
4+$;(&#$-#(+,/016#0&<&1-,/"2#4+(A&$)#$-#%+<&#+#4+F-(#/4,+*$#-"#$%&/(#
-(2+"/e+$/-")C#Y6#*-"$(+)$7#$%&#9;(-,&+"#h"/-"#/)#1&))#*-"*&("&0#+G-;$#
$%/)#)%/.$7#3/$%#-"16#dP#,&(*&"$#-.#89:)#&5,&*$/"2#$-#G&#/4,+*$&0C#
8%/"+#,(-<&0#4-(&#(&)/1/&"$#$%+"#4-)$#-$%&(#"+$/-")#0;(/"2#$%&#&*-"-4/*#
0-3"$;("C#89:)#$%&(&#+(&#1&))#*-"*&("&0#+G-;$#<-1+$/1/$6#$%+"#89:)#/"#
-$%&(#(&2/-")#+"0#$%&6#+(&#4-(&#.-*;)&0#-"#0&<&1-,/"2#+#"&3#2&"&(+$/-"#
-.#1&+0&()#3%-#G(/"2#21-G+1#$%/"A/"2C
h"0&()$+"0/"2#$%&)&#+"0#-$%&(#)%+(,#0/..&(&"*&)#&4&(2/"2#G6#(&2/-"#
G&*-4&)#4-(&#)/2"/'*+"$#/"#+#3-(10#3%&(&#&*-"-4/&)#+"0#)-*/&$/&)#+(&#
*1-)&16#1/"A&0C#:(2+"/e+$/-")#*-".(-"$#$%&)&#0/..&(&"*&)#+)#$%&6#
/"*(&+)/"216#-,&(+$&#+*(-))#G-;"0+(/&)#+"0#+*(-))#0/..&(&"$#(&2/-")C
Technology continues to rise
“The next generation, as natives
9<&(6#$3-#6&+()#)/"*&#=>>d7#3&#%+<&#+)A&0#89:)#$-#"+4&#$%&#$%(&&#
of the digital world, will have
&5$&("+1#.-(*&)#3%/*%#3/11#%+<&#$%&#G/22&)$#/4,+*$#-"#$%&/(#-(2+"/e+$/-")C#
revolutionary implications for
politics, the public sector and Market factors#%+)#*-")/)$&"$16#$-,,&0#$%&#1/)$#3%/1&#technological
the way we do business. The citizen factors#%+)#(/)&"#/"#(&1+$/<&#/4,-($+"*&#+"0#"-3#%-10)#)&*-"0#,1+*&C
will drive change and bring
I&*%"-1-26#/)#+1)-#*-"$(/G;$/"2#$-#2(-3/"2#*-4,1&5/$6# # (&+$/"2#+#3-(10#
K*
social revolution, not evolution.
”
$%+$#/)#4+))/<&16#/"$&(*-""&*$&07#3/$%#G(-+0BG+)&0#*-"<&(2&"*&#-.#
Peter Gilroy, KLM6&U$(.&K12(.E&K12(:), )6)$&4)#-.#+11#A/"0)7#G-$%#4+"B4+0&#)6)$&4)#1/A&#);,,16#*%+/")#-(#*/$/&)H#
+"0#"+$;(+1#)6)$&4)#1/A&#3&+$%&(#,+$$&(")#-(#"+$;(+1#0/)+)$&()C#

19. Stand out in a complex world
Figure Top external factors
The relative impact of technology as an external factor rises year on year.
84% 67% 48% 56%
Market factors
56%
say market
Technological factors factors
42% 44% 48% 39%
39% 41% 35% 38%
Macroeconomic factors
39%
say technological
People skills factors
37%
Regulatory concerns
38%
say macroeconomic
Globalization factors
33% 25% 21%
Environmental issues
Socioeconomic factors
Geopolitical factors
2004 2006 2008 2010
:;(#3-(10#/)#/"*(&+)/"216#);GF&*$#$-#.+/1;(&)#$%+$#(&M;/(&#)6)$&4)B1&<&1#+"0#
*(-))B)6)$&4)B1&<&1#$%/"A/"2#+"0#+,,(-+*%&)C#I%&#*-")&M;&"*&)#-.#+"6#
0&*/)/-"#*+"#(/,,1&#3/$%#;",(&*&0&"$&0#),&&0#+*(-))#G;)/"&))#&*-)6)$&4)#
$%&#3+6#$%&#(&*&"$#&*-"-4/*#*(/)/)#%+)#/4,+*$&0#"&+(16#&<&(6#4+(A&$C#
!$#/)#"-#1-"2&(#);.'*/&"$7#-(#&<&"#,-))/G1&7#$-#</&3#$%&#3-(10#3/$%/"#$%&#
*-"'"&)#-.#+"#/"0;)$(67#-(#+#0/)*/,1/"&7#-(#+#,(-*&))7#-(#&<&"#+#"+$/-"C#
i&$#$%&#&4&(2&"*&#-.#+0<+"*&0#$&*%"-1-2/&)#1/A&#G;)/"&))#+"+16$/*)#
*+"#%&1,#;"*-<&(#,(&</-;)16#%/00&"#*-((&1+$/-")#+"0#,+$$&(")7#+"0#,(-</0&#
2(&+$&(#*1+(/$6#+"0#*&($+/"$6#3%&"#4+A/"2#4+"6#G;)/"&))#0&*/)/-")C

20. Capitalizing on Complexity
Deepening complexity
:"&#4+F-(#);(,(/)&#4+6#G&#$%&#),&&0#3/$%#3%/*%#*-4,1&5/$6#%+)#
,&(4&+$&0#1&+0&()E#$%/"A/"2C#W/5#-;$#-.#$&"#89:)#$-10#;)#$%+$#$%&#"&3#
&*-"-4/*#&"</(-"4&"$#/)#)/2"/'*+"$16#4-(&#*-4,1&5C#f--A/"2#+%&+0#$-#
$%&#"&5$#'<&#6&+()7#&/2%$#-.#$&"#1&+0&()#&5,&*$#$%&#1&<&1#-.#*-4,1&5/$6#
$-#/"*(&+)&C#I%&6#)+6#$%&6#%+<&#"&<&(#.+*&0#+#1&+("/"2#*;(<&#)-#)$&&,C
Figure Expected level of complexity
CEOs agree complexity will only continue to rise.
Currently experiencing high/very high level of complexity
60%
Student perspectives
Expect high/very high level of complexit6#-<&(#'<&#years
79%
32%
more
B(&+&>1%,9&>/$%$&$:1(1*):6&41:)+,&
+(9&5/E4):+,&4E4.$*4&+%$&+,,&)(.$%:1(V
($:.$96&4.29$(.4&+%$&+:2.$,E&+>+%$&1?&
U#*(/$/*+1#+),&*$#-.#$%&/(#1&+("/"2#3/11#G&#$-#0&$&(4/"&#3%/*%#&1&4&"$)#-.#
./$&:1*5,$J).E&./$E&>),,&?+:$&)(&./$)%& *-4,1&5/$6# #-(#&5+4,1&7#-<&(*-4,1/*+$&0#/"$&("+1#,(-*&))&)#-(#/"T&5/G1&#
K.
:+%$$%4F&D1%$&4.29$(.4&4$$&/)3/&)*5+:.& *;)$-4&(#/"$&(+*$/-")# # (&#;""&*&))+(6#-(#%/"0&(#<+1;&#*(&+$/-"C#f/A&3/)&7#
K+
1(&1%3+()#+.)1(4&?%1*&:1*5,$J).E&./+(& $%&6#3/11#"&&0#$-#/0&"$/.6#3%/*%#+),&*$)#*+"#G&#%+("&))&0#.-(#2(&+$&(#
KLM4WXI&5$%:$(.&:1*5+%$9&.1&HI&
&.'*/&"*67#/""-<+$/-"#-(#2(-3$%C#I-#0-#)-7#+#8-");4&(#X(-0;*$)#89:#/"#
5$%:$(.F&'(9&+*1(3&DC'46&XY&5$%:$(.&
Y&12/;4#)+/0#%/)#-(2+"/e+$/-"#3-(A)#$-#$(;16#;"0&()$+"0#+"0#4+"+2&#
4$$&/)3/&)*5+:.&?%1*&:1*5,$J).EF
*-4,1&5/$6[#@:;(#-(2+"/e+$/-"#/)#3&11B,(&,+(&0#$-#%+"01&#*-4,1&5/$67#G;$#/$#
“My generation has a completely
)%-;10#G&#0&46)$/'&0#+"0#)$+"0+(0/e&0CD
different view and understanding
of unbounded, unlimited social Wrestling with uneasiness: The “complexity gap”
connectivity, science and technology,
and cultural conglomeration, that I3-#6&+()#+2-7#,;G1/*#+"0#,(/<+$&#)&*$-(#1&+0&()#.(+4&0#$%&#4+F-(#
leads to more open, interconnected *%+11&"2&#$%&6#.+*&0#+)#@*%+"2&CD#I%&6#,-/"$&0#$-#3%+$#3&#*+11&0#$%&#
ambitions.”
@*%+"2&#2+,DK# %&#0/..&(&"*&#G&$3&&"#$%&#*%+"2&#$%&6#&5,&*$&0#+"0#
$
Student, Q().$9&8.+.$4 $%&/(#+G/1/$6#$-#%+"01&#/$C#I-0+67#89:)#.&&1#4-(&#*-"'0&"$#+G-;$#
0&+1/"2#3/$%#*%+"2&7#G;$#$%&6#%+<&#/0&"$/'&0#+"#&"$/(&16#"&3#0/1&44+C

21. Stand out in a complex world
Figure The complexity gap
While eight out of ten CEOs anticipate signi cant complexity ahead,
less than half feel prepared to handle it.
Expect high/very high level of complexit6#-<&(#'<&#6ears
79%
Feel prepared for expected complexity
49%
30%
complexity
gap
:;(#/"$&(</&3)#(&<&+1&0#$%+$#89:)#+(&#"-3#*-".(-"$&0#3/$%#+#@*-4,1&5/$6#
2+,D#$%+$#,-)&)#+#G/22&(#*%+11&"2&#$%+"#+"6#.+*$-(#3&E<&#4&+);(&0#/"#
&/2%$#6&+()#-.#89:#(&)&+(*%C#9/2%$#/"#$&"#89:)#&5,&*$#$%&/(#&"</(-"4&"$#
$-#2(-3#)/2"/'*+"$16#4-(&#*-4,1&57#+"0#.&3&(#$%+"#%+1.#G&1/&<&#$%&6#
A"-3#%-3#$-#0&+1#3/$%#/$#);**&)).;116C
L%&"#+)A&0#%-3#,(&,+(&0#$%&6#.&1$#.-(#$%&#*-4,1&5/$6#+%&+07#)-4&7#
1/A&#+"#!");(+"*&#89:#/"#`&(4+"67#3&(&#2;+(0&016#-,$/4/)$/*7#@!"#(&1+$/-"#
$-#-$%&()7#3&#+(&#3&11#,(&,+(&0C#Y;$#/"#+G)-1;$&#$&(4)7#/$#3/11#G&#0/.'*;1$CD#
:$%&()#+04/$$&0#G1;"$16#$%&6#3&(&#"-$#;,#.-(#$%&#*%+11&"2&7#1/A&#+"#9"&(26#
+"0#h$/1/$/&)#89:#/"#$%&#h"/$&0#W$+$&)#3%-#)+/07#@Z-)$#,&-,1&#+(&#1--A/"2#
G+*A3+(07#3/)%/"2#/$#3+)#)$/11#1/A&#/$#+13+6)#3+)CD
“Really, I am not afraid of
Learning from top performers
complexity at all. On the contrary,
8&($+/"#-(2+"/e+$/-")#%+<&#%/)$-(/*+116#0&1/<&(&0#)-1/0#G;)/"&))#(&);1$)#&<&"# this just motivates me.
”
/"#$%&#(&*&"$#&*-"-4/*#0-3"$;("C#I%&)&#W$+"0-;$#-(2+"/e+$/-")#*-4&# Jacques Pellas, 8$:%Z.+)%$&OZ(Z%+,6&
.(-4#&<&(6#/"0;)$(6#+"0#&<&(6#,+($#-.#$%&#3-(10C#U"0#/4,-($+"$167#$%&6#.&&1# P+44+2,.&';)+.)1(
4;*%#4-(&#,(&,+(&0#.-(#*-4,1&5/$6C

22. Capitalizing on Complexity
L&#+"+16e&0#,&(.-(4+"*&#(&1+$/<&#$-#/"0;)$(6#,&&()#G-$%#)%-($#$&(4#0;(/"2#
“We are entering an era $%&#&*-"-4/*#*(/)/)#+"0#1-"2#$&(4#,(&B*(/)/)C#f-"2B$&(4#,&(.-(4+"*&#
of ten to twenty years of new /"*1;0&0#.-;(B6&+(#-,&(+$/"2#4+(2/"#*-4,-;"0#+"";+1#2(-3$%#(+$&#.(-4#
signi cant investment. =>>P#$-#=>>^C#W%-($B$&(4#,&(.-(4+"*&#/"*1;0&0#-"&B6&+(#-,&(+$/"2#
There is opportunity and 4+(2/"#2(-3$%#(+$&#.(-4#=>>^#$-#=>>?C
uncertainty that we
have not seen before.” Standouts: Navigating complexity superbly
Tom King, !%$4)9$(.6&[+.)1(+,&O%)9&QF8F 8-4,+(&0#$-#$%&/(#/"0;)$(6#,&&()7#W$+"0-;$)#%+0#%/2%&(#/"*(&+)&)#/"#
6&+(B$-B6&+(#-,&(+$/"2#4+(2/"C#9<&"#4-(&#)$(/A/"27#0;(/"2#$%&#&*-"-4/*#
*(/)/)7#W$+"0-;$)E#(&<&";&#2(-3$%#3+)#)/5#$/4&)#%/2%&(#$%+"#$%&#(&)$#
-.#$%&#)+4,1&C#W-7#3%+$#/)#$%/)#2(-;,#0-/"2#$-#$%(/<&J
Figure Standouts are better prepared to manage the expected complexity
Complexity gap: Difference between expected complexity and the extent to which
CEOs feel prepared to manage complexity.
Top 50 percent
Standouts
22%
gap
6%
gap
Steady-state performance
52% 35%
Long term
gap gap
Top 50 percent
Short term
Crisis performance

23. Stand out in a complex world
W$+"0-;$)#&5,&*$#%/2%#*-4,1&5/$6#+%&+07#G;$#%+<&#+#*-4,1&5/$6#2+,#
-.#F;)$#]#,&(*&"$C#I%/)#/)#/"#)$+(A#*-"$(+)$#$-#-$%&(#89:)C#I%/)#);G)$+"$/+1#
0/),+(/$6#(&T&*$)#$%&#W$+"0-;$)E#*-"'0&"*&#/"#$%&/(#-3"#*+,+G/1/$/&)#
$-#,(-),&(#.(-4#*-4,1&5/$6C#W$+"0-;$)#&5$-1#$%&#<+1;&#-.#4+A/"2#
0&*/)/-")#M;/*A167#$&)$/"2#$%&4#/"#$%&#4+(A&$7#+"0#$%&"#4+A/"2#(&M;/(&0#
*-;()&#*-((&*$/-")C
Y+)&0#-"#-;(#&5$&")/<&#+"+16)/)#-.#%-3#W$+"0-;$)#+(&#;"/M;&#+"0#
0/..&(&"$7#3&#.-;"0#$%+$#89:)#3%-#+(&#*+,/$+1/e/"2#-"#*-4,1&5/$6#%+<&#
.-*;)&0#$%&/(#+$$&"$/-"#-"#$%(&&#+(&+)[
j Embodying creative leadershipK# (&+$/<&#1&+0&()#*-")/0&(#,(&</-;)16#
8
;"%&+(0B-.#3+6)#$-#0(+)$/*+116#*%+"2&#$%&#&"$&(,(/)&#.-(#$%&#G&$$&(7#
)&$$/"2#$%&#)$+2&#.-(#/""-<+$/-"#$%+$#%&1,)#$%&4#&"2+2&#4-(&#&..&*$/<&16#
3/$%#$-0+6E)#*;)$-4&()7#,+($"&()#+"0#&4,1-6&&)C
j Reinventing customer relationshipsK# /$%#$%&#!"$&("&$7#"&3#
L
“There isn’t the luxury of time.
*%+""&1)#+"0#21-G+1/e/"2#*;)$-4&()7#-(2+"/e+$/-")#%+<&#$-#(&$%/"A#
We used to say, ‘Wait until
+,,(-+*%&)#$-#G&$$&(#;"0&()$+"07#/"$&(+*$#3/$%#+"0#)&(<&#$%&/(# this crisis is over and we get back
*;)$-4&()#+"0#*/$/e&")C# to normal,’ but that never happens.
j Building operating dexterityK# %/1&#(/)/"2#*-4,1&5/$6#4+6#)-;"0#
L We have to be ‘change animals.’ ”
$%(&+$&"/"2#+$#'()$7#(&.(+4/"2#$%+$#/"/$/+1#(&+*$/-"#/)#.;"0+4&"$+116# Michele McKenzie, !%$4)9$(.&+(9&KLM6&
/4,-($+"$C#W;**&)).;1#89:)#(&.+)%/-"#$%&/(#-(2+"/e+$/-")7#4+A/"2#$%&4# K+(+9)+(&012%)4*&K1**)44)1(&
.+)$&(7#4-(&#T&5/G1&#+"0#*+,+G1&#-.#;)/"2#*-4,1&5/$6#$-#$%&/(#+0<+"$+2&C

25. Chapter One
Embody
creative
leadership
CEOs now realize that creativity trumps other
leadership characteristics. Creative leaders are
comfortable with ambiguity and experimentation.
To connect with and inspire a new generation,
they lead and interact in entirely new ways.

26. Capitalizing on Complexity
Defy complexity with creativity
I%&#0&2(&&#-.#0/.'*;1$6#89:)#+"$/*/,+$&7#G+)&0#-"#$%&#)3/(1#-.#*-4,1&5/$67#
%+)#G(-;2%$#$%&4#$-#+"#/"T&*$/-"#,-/"$C#U)A&0#$-#,(/-(/$/e&#$%&#$%(&&#
4-)$#/4,-($+"$#1&+0&()%/,#M;+1/$/&)#/"#$%&#"&3#&*-"-4/*#&"</(-"4&"$7#
*(&+$/</$6#3+)#$%&#-"&#$%&6#)&1&*$&0#4-(&#$%+"#+"6#-$%&(#*%-/*&C#
Figure Top leadership qualities
CEOs cited creativity as the most important leadership quality over the next ve years.
Creativity
60%
Integrity
52%
Global thinking
35%
!"T;&"*&
30%
:,&""&))
28%
S&0i*+tion
Student perspectives
26%
T)@$&KLM46&4)J&12.&1?&.$(&4.29$(.4&
F-*;)#-"#);)$+in+bility
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,$+9$%4/)5&A2+,).)$46&*1%$&./+(&+(E&1./$%& 26%
A2+,).EF&-1>$;$%6&+%$+4&1?&9)??$%$(:$& ;mility
+%$&4.%)@)(3F&8.29$(.4&)(:,29$9&3,1=+,& 12%
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F+ir"&))
+(9&)(:,29$9&+&?1:24&1(&424.+)(+=),).E&
12%
GH&5$%:$(.&*1%$F&
“Global thinking is a must for leaders,
but it should be associated with focus 89:)#(&*-2"/e&#$%+$#1&+0/"2#*(&+$/<&16#3/11#(&M;/(&#$%&4#$-#)%&0#)-4&#
on sustainability and integrity; otherwise
1-"2B%&10#G&1/&.)C#I%&/(#+,,(-+*%&)#"&&0#$-#G&#-(/2/"+17#(+$%&(#$%+"#
businesses will be short lived.”
$(+0/$/-"+1C#I%&6#4;)$#G&#0/)$/"*$#+"07#+$#$/4&)7#(+0/*+1#/"#$%&/(#*-"*&,$/-"#
Student, S+5+( +"0#&5&*;$/-"7#"-$#F;)$#4+(2/"+116#G&$$&(#$%+"#&5/)$/"2#4-0&1)#-(#4&$%-0)C#
:(7#+)#-"&#I&1&*-44;"/*+$/-")#89:#/"#!"0/+#,;$#/$[#@8(&+$/</$6#/"#&<&(6$%/"2CD

27. Embody creative leadership
8(&+$/</$6#/)#-.$&"#0&'"&0#+)#$%&#+G/1/$6#$-#G(/"2#/"$-#&5/)$&"*&#)-4&$%/"2#
"&3#-(#0/..&(&"$7#G;$#89:)#&1+G-(+$&0C#8(&+$/</$6#/)#$%&#G+)/)#.-(#@0/)(;,$/<&#
/""-<+$/-"#+"0#*-"$/";-;)#(&B/"<&"$/-"7D#+#X(-.&))/-"+1#W&(</*&)#89:#
/"#$%&#h"/$&0#W$+$&)#$-10#;)C#U"0#$%/)#(&M;/(&)#G-107#G(&+A$%(-;2%#$%/"A/"2C#
f&+0&()7#$%&6#)+/07#4;)$#G&#(&+06#$-#;,)&$#$%&#status quo#&<&"#/.#/$#/)#
);**&)).;1C#I%&6#4;)$#G&#*-4.-($+G1&#3/$%#+"0#*-44/$$&0#$-#-"2-/"2#
&5,&(/4&"$+$/-"C
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$-,#1&+0&()%/,#M;+1/$6#$-#2&"&(+$&#+#@3-(0#*1-;0D#%/2%1/2%$/"2#+(&+)#$%&6#
+))-*/+$&#3/$%#*(&+$/<&#1&+0&()%/,C#!"#$%&#2(+,%/*+1#(&,(&)&"$+$/-"7#$%&#
.-"$#)/e&#-.#&+*%#3-(0#*-((&1+$&)#$-#%-3#-.$&"#/$#3+)#4&"$/-"&0C#!"#$%&/(#
*-44&"$)7#89:)#)$(-"216#)$(&))&0#$%&#(&1+$/-")%/,#G&$3&&"#/"$&2(/$6#+"0#
*(&+$/</$67#$%&#"&&0#.-(#21-G+1#$%/"A/"2#+"0#+#)$(-"2#.-*;)#-"#*;)$-4&()C
Figure Conversations with over , CEOs
CEOs citing creativity as a top leadership quality provided new insights into leading
in the new economic environment.
sustainability
“Creativity means new ways of solving
tough problems. Many challenges require
integrity
employee
innovative thinking.
”
decision
organization
humility
understand
passion
commitment
people
David Rankin, Chief Executive, Auckland City Council
“We cannot globalize without diversity.
government
sector
flexibility
water
creativity
strategy
future
responsibility
products think It leads to new ideas and improves our
trust
safety
dedication quality
team
capability
drive
ability to scale, so we would like to
form a matrix organization globally. ”
growth
direction
skills
challenge
management
know
change
strategic communication development Motoki Ozaki, President and CEO, KAO Corporation
political
personal
leadership
power
complexity
balance
public
model
openness
new
high
risks
fairness
collaboration
customer
ideas
value environment
global
vision
cost
energy technology
service
needs risk
qualities
unique
innovation influence
understanding
leaders culture successful social
market thinking
financial
open services
knowledge
others
time
sense
complex
local
“A challenge is to understand the needs and
focus
transparency
speed
buying behaviors of our children and
grandchildren, who have expectations and
usage of technology very different from ours.
”
Alain Weill, President and General Director, NextRadioTV

28. Capitalizing on Complexity
Commit to upsetting the status quo
W$+"0-;$#89:)#&5,(&))&0#1/$$1&#.&+(#-.#(&B&5+4/"/"2#$%&/(#-3"#*(&+$/-")#
-(#,(-<&"#)$(+$&2/*#+,,(-+*%&)C#!"#.+*$7#_d#,&(*&"$#-.#$%&4#$--A#+"#
/$&(+$/<&#+,,(-+*%#$-#)$(+$&267#*-4,+(&0#$-#]d#,&(*&"$#-.#-$%&(#89:)C#
W$+"0-;$)#(&16#4-(&#-"#*-"$/";-;)16#(&B*-"*&/</"2#$%&/(#)$(+$&26#<&();)#
+"#+,,(-+*%#G+)&0#-"#.-(4+17#+"";+1#,1+""/"2C
Figure Strategy process
Standouts pursue iterative, ongoing strategy development more than other organizations.
Standouts
16%
12% 14% 74%
Others
14% 22% 64%
more
Formal annual strategy planning Both Iterative ongoing strategy
!$E)#"-$#$%+$#89:)#+(&#F;)$#"-3#G&*-4/"2#+3+(&#-.#$%&#/4,-($+"*&#-.#
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=>>d7#89:)#3&(&#$&11/"2#;)#$%+$#@89:)#$%&#3-(10#-<&(#3&(&#(&.-*;)&0#
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$-0+67#*(&+$/</$6#/$)&1.#%+)#G&&"#&1&<+$&0#$-#+#1&+0&()%/,#)$61&C#I(+0/$/-"+1#
+,,(-+*%&)#$-#4+"+2/"2#-(2+"/e+$/-")#"&&0#.(&)%#/0&+)# #0&+)#$%+$#
K/
+(&#/"$&"0&0#$-#0/)(;,$#$%& status quo.

29. Embody creative leadership
89:)#$-10#;)#$%+$#$%&#"&3#4+"0+$&#/)#/44&0/+*6C#!$#/)#"-#1-"2&(#);.'*/&"$#
$-#$%/"A7#4+"+2&#-(#0&1&2+$&#G+)&0#-"#$(+0/$/-"+1#$/4&#%-(/e-")#-(# “The management environment
)$(+$&2/*#,1+""/"2#*6*1&)C#Y-$%#"&3#$%(&+$)#+"0#&4&(2/"2#-,,-($;"/$/&)# is rapidly becoming more complex.
(&M;/(&#+"#+G/1/$6#$-#)&&#+(-;"0#*-("&()7#,(&0/*$#-;$*-4&)#3%&(&#,-))/G1&7# In these uncertain times, the
+*$#0&),/$&#)-4&#;"*&($+/"$67#+"0#$%&"#)$+($#+11#-<&(#+2+/"C need for effective and swift decision
making is more important
Act despite uncertainty than ever.”
!"#+"#&"</(-"4&"$#/"#3%/*%#4+(2/")#.-(#&((-(#+(&#)%(/"A/"2#$-#"&+(#"/17# Shuzo Sumi, !%$4)9$(.&+(9&
89:)#(&*-2"/e&#$%+$#$%&6#*+"#"-#1-"2&(#+..-(0#$%&#1;5;(6#-.#,(-$(+*$&0# K/)$?&LJ$:2.);$&M?":$%6&01@)1&D+%)($&
-1,9)(346&B(:F
)$;06#+"0#(&</&3#G&.-(&#4+A/"2#*%-/*&)C#!"#-;(#*-"<&()+$/-")7#89:)#
)+/0#$%&6#+(&#1&+("/"2#$-#(&),-"0#)3/.$16#3/$%#"&3#/0&+)#$-#+00(&))#$%&#
0&&,#*%+"2&)#+..&*$/"2#$%&/(#-(2+"/e+$/-")C
W$+"0-;$)#4+)$&(#$%/)#0/1&44+#G6#'"0/"2#3+6)#$-#,;)%#,+)$#;"*&($+/"$6C#
I%&6#3&(&#Vd#,&(*&"$#4-(&#1/A&16#$-#(&16#-"#M;/*A#0&*/)/-")#(+$%&(#$%+"#
$%-(-;2%#)$;06C#:.#*-;()&7#"-#-"&#+0<-*+$&0#4+A/"2#/11B*-")/0&(&0#
F;024&"$)7#G;$#+<-/0/"2#;""&*&))+(6#0&1+6)#3+)#+#(&*;((/"2#+4G/$/-"C#
@I%&#3-(10#/)#),/""/"2#.+)$&(7D#)+/0#+#`-<&("4&"$#89:#/"#U;)$(+1/+C#
@L&#"&&0#$-#A&&,#,+*&CD
Figure Decision style
Standouts focus on quick decisions even when facing uncertainty.
Standouts
15% 42% 43%
31% 41% 28%
Others 54%
more
Thorough decisions Both Quick decisions

30. Capitalizing on Complexity
Z+"6#89:)#+04/$$&0#$%+$#$%&6#.&1$#-<&(3%&14&0#G6#0+$+#3%/1&#)$/11#G&/"2#
)%-($#-"#/")/2%$C#I%&6#G&1/&<&#+#G&$$&(#%+"01&#-"#/".-(4+$/-"#+"0#4+)$&(6#
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I%-)&#3%-#%&)/$+$&#A"-3#$%+$#4-(&#*-"'0&"$#*-4,&$/$-()#+(&#)$&,,/"2#
/"#0;(/"2#&<&(B)%(/"A/"2#3/"0-3)#-.#-,,-($;"/$6C#
Break ground with new business models
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+"#!"0;)$(/+1#X(-0;*$)#89:#/"#c+,+"7#@U#G;)/"&))#4-0&1#/)#"-$#+G)-1;$&7#
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4-0&1#/""-<+$/-"C#

31. Embody creative leadership
Figure Creative leaders experiment to improve the status quo
Creative leaders score much higher on innovation as a crucial capability and
many more of them expect to change their business models.
Others
21%
Innovation as
crucial capability Creatives
38%
81%
more
15%
more
10%
more
20%
more Types of business model
innovation considered:7
Enterprise model
85$:)+,)#)(3&+(9&%$:1("32%)(3&./$&
=24)($44&.1&9$,);$%&3%$+.$%&;+,2$&
=E&%$./)(@)(3&>/+.&)4&91($&)(V/124$&
+(9&./%123/&:1,,+=1%+.)1(F
60%
57%
52% 52% 54%
Industry model
45%
]$9$"()(3&+(&$J)4.)(3&)(924.%E6&
*1;)(3&)(.1&+&($>&)(924.%E6&
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Others
Revenue model
Creatives K/+(3)(3&/1>&%$;$(2$&)4&3$($%+.$9&
./%123/&($>&;+,2$&5%1514).)1(4&
Enterprise Industry Revenue +(9&($>&5%):)(3&*19$,4F
model model model
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/"#G-$%#*;)$-4&(#&5,&*$+$/-")#+"0#*-4,&$/$/<&#+*$/</$6#$%+$#)/4,16#0-"E$#

32. Capitalizing on Complexity
+0%&(&#$-#6&+(16#,1+""/"2#)*%&0;1&)C#Q(&M;&"$#G;)/"&))#4-0&1#&5,&(/B
“You must be a part of, and not apart 4&"$+$/-"#G(/"2)#+G-;$#/""-<+$/-"# #"*1;0/"2#"&3#A/"0)#-.#(&1+$/-")%/,)#
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from, the society in which you +"0#,+($"&()%/,)# # +)&0#;,-"#3%+$E)#%+,,&"/"2#/"#$%&#4+(A&$,1+*&7#
KG
operate and this requires humility. "-$#$%&#*-".&(&"*&#(--4C
The day of the business tycoon is
gone. Managers are appointed; Craft the creative organization
leaders are elected. It’s not a W$+"0-;$)#(&*-2"/e&#$%+$#*-"$/";-;)#*%+"2&#/)#$%&#"-(4C#U"0#/$E)#
question of people following you — "-$#);.'*/&"$#$-#G&#,(&,+(&0#.-(#/$#,&()-"+116C#I%&6#4;)$#&M;/,#$%&/(#&"$/(&#
they need to be a part of you.”
-(2+"#e+$/-"#$-#G&#+#*+$+16)$#.-(#*(&+$/</$6C#Q-(#4-)$#1&+0&()%/,#$&+4)7#
/
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/"T;&"*&#+"0#0&4-")$(+$&#)$(-"2#$&+4#1&+0&()%/,CD

33. Embody creative leadership
Figure How Standouts will enact change
To change continuously, Standouts will use new leadership styles and
balanced communication approaches.
Ad-hoc initiatives 8% 13% 79% Continuous change
Command and control 17% 25% 58% Persuade and i!"#$!%$
Top-down communication 33% 28% 39% (Managed) viral communication
Both
!"#+00/$/-"#$-#1&+0/"2#0/..&(&"$167#89:)#+"0#$%&/(#$&+4)#+(&#*-44;"/*+$/"2#
0/..&(&"$16C#I-#*-44;"/*+$&#3/$%#*;)$-4&()#+"0#&4,1-6&&)7#$%&6#+(&# “For ight crews, we need a
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-.#0/2/$+1#4&0/+#+"0#)-*/+1#"&$3-(A/"2#*%+""&1)C environment to pull them into
the internal community.
W$+"0-;$)#(&,-($&0#+#G&$$&(#G+1+"*&#-.#*-44;"/*+$/-"#+,,(-+*%&)C# With our younger workforce,
I%&6#+*A"-31&02&#$%&#*-"$/";&0#/4,-($+"*&#-.#*-44;"/*+$/-")#@.(-4#$%&# there is a complete delta in how
$-,7D#&),&*/+116#$-#&)$+G1/)%#*1+(/$6#-.#,;(,-)&#+"0#*-4,+"6#<+1;&)C#Y;$# they expect to communicate.
$%&6#+1)-#+(&#&4G(+*/"2#@</(+1D#.-(4)#-.#*-44;"/*+$/-"#$-#&"2+2&#$%-)&# We need to build a multi-
/")/0&#+"0#-;$)/0&#$%&/(#-(2+"/e+$/-")C generational communication
strategy to weave our diverse
Y(&+A/"2#.(-4#$%&#,+)$7#89:)#4+0&#+#G-10#*%-/*&#/"#"+4/"2#*(&+$/</$6#$%&/(# workforce together.”
,(&4/&(#1&+0&()%/,#M;+1/$6C#I(+0/$/-"+1167#1&+0&()#3&(&#4-)$#+04/(&0#.-(#
David Cush, !%$4)9$(.&+(9&KLM6&
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