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By Zedong Mao

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The two-step succession process requires the candidate to “audition” for the top position while serving under the incumbent CEO, and that tends to makes him or her beholden to the current chief executive. What’s more, the sitting CEO remains the primary conduit to the board—making it more likely that the outside hire will play things safe and be deferential to the status quo. Ten insider-outsider CEOs were appointed between 2004 and 2008, and our analysis found that none of them achieved top-quartile performance.

S hortly before Christmas 2008, I left my office at the specialty chemicals company Rohm and Haas for what I thought would be the last time. I had spent much of the year leading up to my long-planned retirement orchestrating the sale of the company—a deal with its former rival Dow Chemical had been forged in July 2008—and there was little left to do but hand over the reins. I had succeeded at one of the hardest goals I’d ever been set: quietly negotiating a friendly sale for $18 billion. All we still needed was the Federal Trade Commission approval that, per our agreement, would trigger the close of the deal within 48 hours.

Your idea should relate to one of three key categories – well-being outdoors, healthy lifestyle or independent living. And the best idea in each categor y will receive a grant to get started. org Nohria Nitin Nohria is the dean of Harvard Business School. F or most of the 20th century, a symbiotic link existed between value creation and job creation. When businesses prospered, employment expanded and communities thrived. This virtuous circle was good for business and good for society. But now the relationship between value creation and job creation is more tenuous.

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