The New Leadership

The growing complexity of business will force dramatic changes in the corporate hierarchy

In recent years, top corporate executives have reaped a pay bonanza without precedent in the long and sweaty history of working for a living. Is today's boss overpaid? Probably, but to whom much has been given, even more will be expected. The job of leading a company has never been more demanding, and it will only get tougher in the 21st century. The CEO will retain ultimate authority, but the corporation will depend increasingly on the specialized skills of a host of subordinate leaders. Long live the chief of customer relations, the chief of knowledge, the Web chief! The accelerated pace and complexity of business will continue to force corporations to push authority down through increasingly horizontal management structures. In the future, every line manager will have to exercise leadership's prerogatives--and bear its burdens--to an extent unthinkable a generation ago.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.