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Martin I. Cole, a 21-year-veteran of consulting and outsourcing, is the global managing partner of Accenture Solutions Operations, the organization responsible for the strategic direction and delivery of the company's outsourcing business

Most executives are well aware of the acceleration in the pace of business, and they want to know what to do about it. The authors talked with executives in 40 companies about how they are dealing with this issue and identified five business‐model myths that are holding these firms back. Companies that have dispelled these misconceptions are not only achieving record profitability they are hitting new highs in the tough business environments that have driven their competitors under. This article describes the five myths and outlines how businesses can become more fluid and ready to respond quickly to change.