Business and leadership is about the future. What worked five years ago is unlikely to work tomorrow.

Process improvement programs are like teaching people how to fish. Strategy maps and scorecards teach people where to fish.

Without strong visionary leadership, no strategy will be executed effectively.

Change efforts happen when a firm is out of alignment with achieving its vision. If the organization has broad buy-in on a clear vision, the need for change becomes much clearer. It also helps to over-communicate what you're doing and why you're doing it. Lastly, the leadership needs to spend as much time on "how" changes are being made and "what" changes are being made. Human beings are involved and there are winners and losers.

I loved my career at Goldman Sachs. I believed in business principle number 1: if the client succeeds, our own success will follow. This principle formed the basis for my career and my leadership style.

Every person I meet is struggling with how to understand themselves and reach their full potential. No one has it fully figured out. It is a life long struggle - -there isn't a precise destination or arrival.

Why do leaders fail? Isolation and inability to learn. They are afraid to express doubt, admit vulnerability or seek advice from subordinates. Leaders must actively work to seek feedback and a reality check. They must be open to asking questions and framing issues. As the world becomes more complex and global, the risk of isolation becomes greater. The need for leaders to be open to learning becomes greater. Great leaders will need to ask the right questions and balance inquiry with advocacy.