Karel Cool, INSEAD Professor of Strategic Management and Quentin Philippe (MBA '12D), Boston Consulting Group

The shale gas boom in the United States has made domestic power producers cleaner and turned coal producers into major exporters. A weak Europe, anxious about fracking, is becoming reliant on cheap U.S. coal to fuel its power stations, trapping it in a vicious cycle.

Executive managers who join corporate boards as directors are often unprepared for the transition and fall out of favour quickly. To make the shift successfully a strategic vision is needed.