In this work, John Kotter contends that the powerful economic aftershock of the oil crisis of 1973 - the globalization of markets and competition - has permanently changed the rules for success at work. He describes how this unexpected shift in the world economy is altering career paths, wage levels, the structure and function of corporations, and the very nature of work itself. He shows that conventional career paths through large corporations no longer lead to success as they once did. But at the same time, globalism is creating larger markets and enormous new opportunities for those with the education, motivation and talent - and equally large hazards for those who fear competition and over-value security. Based on a year-by-year analysis of the graduates of the class of 74's choices, actions, successes and failures, Kotter documents that the greatest opportunities have shifted away from large bureaucratic companies to smaller or more entrepreneurial ones, and away from professional management in manufacturing for consulting and other service industries, leadership and financial deal-making. In conclusion, he shows how the successful use of these new strategies requires high personal standards and a strong desire to win, and a willingness to continue to learn over an entire lifetime.