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The publication of this volume marks an important event for The William Davidson Institute. It is the result of a major WDI research venture that focused on the transition process at the firm level. The research speaks to both the concerns of researchers that focus on issues of organization, management, and strategy, and also to the individual managers and leaders who are trying to transform their organizations. This focus on the firm-level dynamics reflects a major thesis that the Institute has been advancing with respect to the transition process--until the transition occurs at the firm level, the process is not complete.

This book is also an important reminder of the large network of researchers and practitioners that has been formed by the Institute. The hundreds of Institute Fellows, Associates, and Affiliates around the world have contributed in an important way to the understanding of the transition process. Their working papers, articles, and books have been widely read and have informed private, as well as public policy decisions. Conducting worldwide research on the transition process is a difficult procedure, but this book is evidence that the issues and the network are clearer now than ever before.