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Peter F. Drucker asked the people he worked with, “How do you want to be remembered?” At the Frances Hesselbein Leadership Institute, we unanimously agreed on the importance of inspiring the next generation of leaders. In 2009, the Hesselbein Institute partnered with the University of Pittsburgh to launch the Hesselbein Global Academy for Student Leadership and Civic Engagement, which brought together 300 talented students from every continent and exposed them to the works of Peter Drucker and Frances Hesselbein. Today’s younger generation, known as Millennials or Generation Y, born between 1980 and 2000, is not yet the largest generation, but it is the largest; the sheer scale of technology and the ease of global travel have amplified their dreams in many ways. The rise of social media and digital media, from traditional encrypted channels to Facebook and Twitter, has connected them to the rest of the world, allowing them to wear global brands and engage with global issues in new, proactive ways. They have also developed networks of friends that include not only neighbors and gym buddies but also friends from far-flung corners of the globe. They may never have met these friends face-to-face, but their interactions have profoundly impacted their lives, and they have cultivated a global empathy. That's why I refer to millennials as the first global generation. The young leaders we met were motivated, tolerant, self-reliant, and open to the world. They see it differently, with a consistently positive outlook, yet they experience unprecedented levels of unemployment and underemployment and feel misunderstood in the workplace and in the media. What we learned is that millennials crave guidance, simple tools, and mentors to help them focus, realize their potential, and pursue their dreams of making a difference in the world. That's where this book comes in. Is Drucker's management philosophy still relevant to young talent and seasoned leadership? Yes, of course! Can it shape it? We've seen it happen. It's hard to believe that books and publications from the mid-twentieth century are still applicable to today's business challenges and opportunities, but we provide examples throughout this book just to prove it. Drucker says, “Personal assessment is the first requirement for leadership.” So it makes sense for a young talent to read The Five Questions on their way to a career in a one-time leader, and then reread them by experienced leaders in diverse industries. This essential workbook has served leaders in all sectors for decades and is an ideal companion for millennials and today’s management. Our contributors highlighted several examples of how the personal assessment process can serve any purpose and drive progress. The battle to harness talent is intensifying around the world; executives and their organizations in all sectors are seeking strategies to maximize the productivity of their young workforce and develop their sustainable leadership skills. We hope that this new edition of the book will raise awareness and build a new community of Drucker fans who connect with one another using the core methodology of The Five Questions. This can serve as an essential tool for designing leadership development programs and training new managers. Drucker’s thought leadership will serve as a comprehensive and collaborative platform for developing strategic ideas and plans for multi-generational teams in any environment and any sector. Simply reflecting on Drucker’s influential ideas can foster the kind of dialogue that brings your team together and bridges the traditional generational gap in communication. Millennials are committed to social sector success, and we’ve discovered that college students are volunteering around the world. In one of my local student surveys, I found that 50% of freshmen and 79.1% of juniors and seniors reported volunteering during their time in college. 1 Millennials will continue to look for opportunities to communicate the mission of nonprofit organizations to for-profit partners. Drucker wrote, “Great leaders think about the needs and opportunities of the organization before they think about their own needs and opportunities.” As a mentor to undergraduate and MBA students, I’ve observed their expectations and concerns about their post-college job prospects. The financial crisis has led many companies to dramatically change their employment patterns, leaving most employees in large organizations feeling less secure; MBA students become more selective in their post-graduation pursuits, focusing on new ventures that allow them to assume more responsibility and where they believe they will gain a deeper understanding of their field. Business schools are encouraging increased interest in startups through business plan competitions and courses focused on new media and related entrepreneurship. More millennials are starting their own businesses than any previous generation, leaving their small corporate offices in the U.S. to start their own ventures. According to Bloomberg, 8 out of 10 entrepreneurs who started their businesses failed within the first 18 months. In many cases, a lack of focus on strategy, along with a lack of funding, was the reason for failure. To raise investment and gain support from others, you need to have the fundamental knowledge and focus on your project. There's no better way than to use the five-question self-assessment as the basis for developing your business plan. Frances Hesselbein is a descendant of the second U.S. president, John Adams, who said, "If your actions inspire others to dream more, learn more, do more, and become better, then you are a leader." We are deeply grateful to the leaders who have combined their thoughts with Drucker's enduring wisdom in this book to inspire and unleash the potential of millennials!