Something has changed fundamentally in the world of business. Although few people seem to have internalized this shift, the effect is startling and profound. Ten years from now, one in three companies will no longer be independent because of bankruptcy or takeover, and another one in three will be completely different at its core, maybe even having a different core. Only one in three will resemble what it looks like today.

What is this change? It seems that for a majority of businesses today, fundamental threats to the core have moved from rare events to nearly common occurrences. And most businesses are not prepared for what that means. In many industries, it appears that the weather patterns of business have changed from a temperate ...

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