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	Dear reader, Impact and interaction Our Tomorrow's Challenges articles concern issues facing you and your company today. In this summer issue, read about some of our latest research and how these useful insights can help you. We encourage your feedback to help us keep our research relevant. It's easy - just add your comments and rating on the left-hand side of the article of particular interest to you. Your opinion counts Please continue to give us your feedback: what you like, what you don't. Let us know what we can do to make the website and Webletter even more valuable and relevant for you. Kind regards, IMD Communications Team

GOVERNANCE

	Pearls of Wisdom from Warren Buffett for Business Leaders

GROWTH

	China in the 21st century
	Showdown or show off?

CHANGE

	The Indian talent challenge
	More opportunities for female executives

INNOVATION

	Innovation leadership practice - II
	Steering innovation, top-down

RESEARCH THEMES

Want to improve your below-average business processes? - Innovate don't invent
By Professor Corey Billington and Dr Rhoda Davidson
Do you have processes that your customers describe as below average? Are you struggling for a breakthrough improvement? Don't worry, you are not alone. Business processes are notoriously difficult to re-engineer and 50% to 70% of re-engineering efforts fail to achieve the dramatic results that were intended.

Your network balance sheet. What does it look like and where should you invest?
By Directors Jim Pulcrano and Janet Shaner, and Professor Bill Fischer
This article is intended to help you take a proactive look at your network, decide where it's strong, discover where it's weak, and lay the groundwork for investments that will increase its value with the ultimate objective to help you maximize the impact of your network on your performance.