Times change and, with them, our approaches to strategy and its execution. In the 1970s, strategic planning was the corporate mantra in most companies. But as we moved into a new decade, strategic planning was tarred with the brush of “failure to implement.” In the 1980s, the corporate and consulting world was a‐buzz with strategic management—the new and improved version of setting direction and creating shareholder wealth. Now, in the 1990s, the focus is strategic leadership.