We had a lively talk Wednesday with Walt Shill, managing director of Accenture's strategy practice. He dropped by The Deal's offices to talk about the results of the firm's annual survey of senior corporate executives around the world, which naturally led on to other topics. The survey results show that the top concern of the 436 execs surveyed is "managing risk" -in other words, addressing a cauldron-full of worries as disparate as geopolitical instability and increased competition. The previous three years, workforce-improvement issues topped the list.

The well-traveled Shill has a knack for bringing global business to life. Based on the buzz at a recent jam-packed conference in China, he says Chinese companies are keen to learn how to succeed at cross-border M&A. In Europe, meanwhile, some Nordic heavy-equipment guys are aghast that their Russian customers are buying cheap, replacable gear from Chinese manufacturers instead of the built-to-last machines their company makes. Another business model busted! And execs anywhere who are outsourcing anything to Hungary (antigovernment riots this week) or Thailand (a coup) have something more to fret about, don't they?

Shill says the pace of change has altered the way many companies approach strategic planning. "It's almost like the five-year plan is dead," he says. Gone are the days when steering a big company resembled what you do while standing on the bridge of a big ship. "Now it's like white-water rafting-it's about sensing and responding." — Kenneth Klee

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