Power stems from 'rainmaking,' as law firms put it: the ability to bring resources into the company.

The degree to which the opportunity to use power effectively is granted to or withheld from individuals is one operative difference between those companies which stagnate and those which innovate.

Time is a function of impact. The longer a book of mine has been in print, the greater its impact seems to be as people absorb and digest my ideas. I am especially proud of The Change Master: Innovation and Entrepreneurship in the American Corporation, first published in 1983, because it raised questions and addressed issues at a time when so many great changes were occurring in our society, indeed throughout the world.

John Akers once said that changing IBM's culture was more difficult than getting elephants to dance. Of course it's really difficult, as Lou Gerstner also found out years later. The title of his own book is Who Says Elephants Can't Dance? He and his top executives were change masters at IBM. All organizations, especially the larger ones, will always need change masters. Dissatisfaction with the status quo and efforts to improve it should be encouraged rather than discouraged. Regrettably, that is often not the case.

During the Boom Years, it was so easy to lose sight of basic values. For example, there was lots of nonsense said and written about the so-called "New Economy." Some people said all economic laws have been overturned! Then all the problems developed. Corporations were heavily fined for illegalities. Many of their senior-level executives were indicted, convicted, and sent to prison.

One of the symptoms of a losing streak is a turnover of top executives. It's a revolving door.

Nations need to understand their own strengths and weaknesses, and India's tradition of dissent and democratic debate is a positive aspect.