FROMTHEEDITORMasterClassTWICEAYEAR,adozenCEOsarriveontheHarvardBusinessSchoolcampus.Eachistheheadofacompanywith$ibillionormoreinsales;eachisnewtothejob,eitherabouttotakeoverorinofficejustafewmonths.Forthreedays,theyworkintensivelywiththreeofHBS's(andtheworld's)mosteminentbusinessthinkers:strategistMichaelPorter,leadershipexpertNitinNohria,andjayLorsch,thedistinguishedscholarofboardsandgovernance.TheygooveralltheelementsthatmakeaCEO'sjobuniquelychallenging-developingstrategy,managingoneselfandanexecutiveteam,dealingwithboards,copingwithWallStreet.It'sbusiness'sultimatemasterclass.Inthismonth'sHBR,youcandiscoverwhattheseexcep-tionalstudentshavetaughttheirprofessors.WhileworkingcloselywithnewCEOs,Messrs.Porter,Nohria,andLorschhavelearnedthatnothingintheexecutives'past,nothingintheirtrainingorexperience,preparesthemforthereal-ityoftheposition.Notwocompaniesarealike,andneitherareanytwoleaders,butthereappeartobesevenwaysinwhichanewleadercanalmostcountonbeingtakenbysurprise.Asthenewboss,youmayknowthatyou'llhavetogiveupsomeinvolvementwithoperationsinordertoattendtooutsideconstituents,forexample,butyou'llstillstruggletodealwiththefeelingofbeingunmoored,ofnotknowingwhat'sgoingoninsidethecompanywhoseleaderyou'resupposedtobe.Youmayknownottobeheavy-handedinexercisingyourconsiderablepower,butyou'llalmostinevitablybestartledtodiscoverthatevenyourlightesttouchcanstrikesomeoneelselikeahaymaker.Ifthesesevensurprisesadduptoonelesson,it'sthis:Themorepoweryouhave,themoreimportantitistoex-ercisepowercollaboratively.Youmaygetyourwayactingunilaterally-butalmostalwaysatacost,andusuallyyouhaveasmallerstockofpowerthenexttimeyouneedit.Powerandpoliticalcapitalgrowwhenyouactthroughothers-workwithyourboard,buildallies,avoidunneces-sarymeddlingintheresponsibilitiesofsubordinatesandcolleagues.Insum,nevercompetewhereyoudon'thaveto.That'sagoodlessonforcorporations,too.Competition,oneofthemostpowerfulforcesonEarth,isalsooneofthemostdangerous.Certainlyitisanextraordinarymoti-vator,whetherinsportsori...
