(FORTUNE Magazine) – THE FUTURE/ Cover Stories

44 MANAGING FOR THE 1990s The world will be recognizable -- no colonies on the moon -- but will require major shifts in strategy. by Andrew Kupfer

50 WINNING ORGANIZATIONS How would you like 200 subordinates reporting to you? It could happen as organizations flatten out. by Jeremy Main

63 SELLING GETS TOUGH Forget the kids. Changing demographics and lifestyles will bring older, busier, and fussier buyers. by Christopher Knowlton

78 THE COMPUTER WAVE New software can make companies more efficient by managing managers. They had better know about it. by Joel Dreyfuss

86 ECONOMY OF A NEW AGE Growth will slow, but productivity will rise, interest rates will slacken, and recessions won' t be as severe. by Sylvia Nasar

CORPORATE PERFORMANCE

98 UNCOVERING MARS' UNKNOWN EMPIRE For decades Mars has been quietly -- very quietly -- piling up profits. But the candy empire is creaking, the family is feuding, and executives are leaving. by Bill Saporito

DEALS

106 MADISON AVENUE' S BLOODIEST BRAWL It' s a tale of war between two monumental egos: agency founder Dick Lord and Martin Sorrell, the Englishman who bought his company. Their struggle could have implications for all service companies. by Faye Rice

MONEY & MARKETS

117 LITTLE GUYS FACE A NEW MARKET ERA Investing for yourself is a trickier proposition than it was just a few years ago. But for investors with a long- term view and common sense, stocks are still the place to be. by John Paul Newport Jr.

TECHNOLOGY

125 NEW WAY TO MAKE NEW PRODUCTS Through genetic engineering, tiny Biosource Genetics is turning out pounds of melanin, a skin pigment that may guard against skin cancer. It' s on the way to fabricating a host of other chemicals right inside plant cells. It could be a billion- dollar- a- year business. by Gene Bylinsky

SELLING

135 JAPAN' S NEXT PUSH INTO U. S. MARKETS First they sold us their cars, VCRs, and microchips. Now the Japanese are moving into food, clothes, and laundry detergent -- the basic, inexpensive goods we buy in vast quantities. One Japanese company even put an office near P& G in Cincinnati. by Brian Dumaine

POLITICS & POLICY

145 THE BATTLE OVER HEALTH INSURANCE Michael Dukakis promises ''health care for all'' without getting into details or dollar signs. If he goes to the White House, business will pay most of the bill for the 35 million Americans without coverage. George Bush wants government to stay on the sidelines. by Lee Smith

EXECUTIVE LIFE

152 THE OLYMPIANS OF BUSINESS Basketball' s best guard, a top shot- putter, and a champion hurdler are among the former Olympic athletes who went on to become top executives. Sports heros are often forgotten, but the talents these men used to get the gold have helped make them business stars as well. by Patricia Sellers

DEPARTMENTS

4 EDITOR' S DESK

6 INDEX

10 NEWS/ TRENDS Sandy Weill moves back to Wall Street, bulls and bears in your garage, underwater sightseeing, mobilizing an underused pool of quality workers, and more.

25 FORTUNE FORECAST Inflation is creeping back. But slower economic growth in the second half will help keep it down. by Maureen F. Allyn

29 PERSONAL INVESTING The love affair with cyclical stocks doesn' t have to end. by Ellen Schultz

Also: A hidden star, chic CDs, and Portfolio Talk with pension fund manager Anthony Gray.

112 COMPANIES TO WATCH

209 KEEPING UP by Daniel Seligman

213 BOOKS & IDEAS The Great U- Turn: Corporate Restructuring and the Polarizing of America by two economists is a highly partisan and revealing look at Democratic views. by Terry Teachout

217 LETTERS TO FORTUNE

219 FORTUNE PEOPLE Don Kelly tees off, Warren Buffett changes exchanges, ''Fat Tony'' Salerno meets his match, and more. by Terence P. Pare

220 ON THE RISE