By Mark Hurd

The Fortune 500 has long been viewed as a benchmark for corporate size, success, and stability. But if you look at the Fortune 500 from the year 2000—just 14 years ago—you’ll find that more than half of the companies on that year’s list are gone.

Think about that: in spite of their proud histories, their successful products, their track records of revenue and profit growth, their industry leadership, their prior stock performance, more than half of the Fortune 500 from the year 2000 have disappeared.

That’s a striking indicator of how profoundly different the business world that you will lead is from today’s. On top of that, I’m certain that as you begin moving into leadership ranks and taking on more responsibility, today’s relentless pace of change will only increase. Indeed, in 2020 we’ll look back and view our current era as almost slow-paced and tranquil.

What, then, are the enduring lessons that you aspiring executives need to take to heart and begin to master? First off, in spite of the turbulent global business environment you’ll be facing, you’ll need to learn and embrace some timeless management essentials. And then you’ll need to enrich those core leadership qualities with a new set of capabilities central to business and life here in the 21st century. Let me be a bit more specific:

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