ioneer race car driver and sports writer Denise McCluggage once said: "Change is the only constant. Hanging on is the only sin."

In this issue of Kenan-Flagler's alumni magazine, we share ideas about how you can do more than just hang on; you can adapt and prosper in these times of change. Sometimes that means a return to the basics. Kenan-Flagler faculty scholars share their take on key competencies - networking, negotiation, leadership/management and tech-savvy - that can help you transform your career when the road is rocky. We share stories of alumni who have repositioned themselves in the marketplace to find the best fit with their priorities and values. They are proof that you can effectively balance life and work while soaring to new heights in your career.

A vice president of human resources for a large metropolitan airport shares his thoughts on the importance of lifelong learning - another key to navigating career chaos. Kenan-Flagler Executive Education consistently receives high marks for the quality of its lifelong learning programs. The Financial Times ranked it No. 8 of the world's best at executive education in 2002.

In September, we launched OneMBA, the global Executive MBA Program offered in partnership with four top business schools. A talented and diverse group of executives traveled from Asia, Europe, and North and South America to meet as classmates for the first time in Washington, D.C., where they learned about global ethics, leadership and teamwork. Mexico's leading newspaper, El Norte, praised OneMBA's global focus, use of best practices from across continents and the global networks that top managers will form.

In an age of change and increasing globalization, companies are thinking about new models of teaming. We feature research about virtual teams from two Kenan-Flagler professors - one in management, the other in information technology. They predict virtual teams will become increasingly common in the coming years.

An editorial by our MBA Program associate dean, a longtime ethics professor, appropriately closes this issue. In a year when corporate scandals have made the headlines, he asserts that business schools have the responsibility to give students an opportunity to practice making tough decisions - an exercise that will strengthen their own ethical barometers.

Kim Weaver Spurr
Editor