Change or die! With this stark claim begins the journey through the corporate lifecycle. Why do so many companies fail? Why do managers struggle to recognize change early or hesitate to take vigorous action? Why - and how - must the traditional lifecycle concept be modernized if it is still to provide valid orientation?

In this essay, Roland Berger CEO Burkhard Schwenker analyzes the challenges facing managers today and explores their implications for good management. Corporate management, he argues, must once again become more direct, more personal, more entrepreneurial. His experienced and thoughtful analysis is complemented by insightful, candid interviews with renowned entrepreneurs and business leaders, conducted by journalist Mario Muller-Dofel. Finally, Schwenker outlines an agenda calling for action in six specific areas.