The conventional asset-allocation method is like sheet music. It is prescribed, it has right answers and wrong answers and it sounds about the same every time. But jamming is different. Jamming is when you make the music. When you improvise and adapt to conditions. When you are creative.

Improvisation in the jazz sense - like the business sense - is not formless. It is built on a skill set. Jazz, for example, involves selecting a tune.

If you are at Coca-Cola, the creative challenge is one of maintaining - rather than creating - a tremendous level of consumption for your products.

The impresario functions as a bridge and a translator. He or she is a bridge between the creative point of view - which is often very focused on the creative task itself - and the resource-allocation process. The impresario has to make certain the funds and people required to get that task completed are available.

The traditional model for a company like Coca-Cola is to hire one big advertising agency and essentially outsource all of its creativity in that area. But Coca-Cola does not do it that way. It knows how to manage creative people and creative teams and it has been quite adept at building a network that includes the Creative Artists Agency in Hollywood, which is a talent agency.

Managing the creative process means selecting the best people and then letting them do their work. That means nurturing. It also means, from time to time, creating drama - even uncertainty - so that the creative environment has an edge to it, a charge, and does not run out of steam.

There's real "right brain" creativity that goes into all of the organizational processes that a company utilizes and must continually reinvent in order to conduct its business. But there are also the "left brain" accounting functions that must continually ask how the company is doing financially and whether the creative processes are working for the bottom line.