How Leaders Should Approach Transition Economic transitions are complicated. Partly because the pace of transformation varies according to regional and social factors. As the OECD highlighted in a recent global summary of low-carbon energy transitions, corporations, NGOs, and governments follow different paths to sustainability. In his influential book, ‘The New Market Leader’ Fred Wiersema makes the case that market leaders need to In terms of sales and growth, market continually innovate and transform leaders outperform their peers by their businesses to stay ahead of a factor of between two and 10. their competition. To become a Corporations need to develop a state market leader, corporations must: of continuous readiness to address Source and implement new the next big, complex challenge as it concepts from inside and outside emerges. the corporation. The best way to tackle transition Create new ventures. risk is to chop it into smaller chunks. This means assessing one driver of Mitigate emerging risks. change at a time and considering its implications by applying a range of external parameters, as discussed in pages 12 - 21 below. 12