(FORTUNE Magazine) – MANAGING/COVER STORY 48 HOW TO LEAD A REVOLUTION The competitive rigors of the new economy are often too big and too urgent to be addressed by anything less than change on a grand scale. Rising above fatigue, loneliness, and fierce opposition, rare kinds of leaders seek nothing less than organizational transformation. There is no science of transformational leadership -- it's an art. FORTUNE reports on four managers, and how they proved themselves. by Thomas A. Stewart

MANAGING 64 DELIVERING THE GOODS Logistics has become a hot competitive advantage as companies struggle to get the right stuff to the right place at the right time. by Ronald Henkoff

GLOBAL 82 THE ECLIPSE OF MARS When you run a $13 billion privately held company, you answer to no one -- except the market. But are the Mars brothers hearing what it's saying to their global empire? by Bill Saporito

MONEY & MARKETS 95 THE NEW MERGER BOOM ) New combinations are reshaping America's largest industries, from telecommunications to defense to entertainment. Shareholders could be the big losers. by Terence P. Pare

EXECUTIVE LIFE 127 STAMINA: WHO HAS IT, WHY YOU NEED IT, HOW YOU GET IT It's not on your resume, but endurance could be the quality that makes you a success in the round-the-clock global economy. by Lee Smith

MANAGING 143 AMERICA'S BEST WEALTH CREATORS They aren't always the companies that you'd expect. In growing numbers, managers and investors are using an innovative measure to see who's really best. by Shawn Tully

PORTFOLIO 166 SECRETS OF PRODUCT TESTING Military school hazings are nothing compared with the blasting, battering, basting, and biting that manufacturers order up so that their goods can stay competitive. by Faye Rice

DEPARTMENTS 6 EDITOR'S DESK 8 INDEX 14 NEWS/TRENDS A relapse at GM (or maybe just a hiccup), the Goldman standard slips, the SEC zeroes in on derivatives, parents hit pause on videogames, and more.

22 FORTUNE FORECAST The U.S. is set to be the winner from the worldwide expansion. by Vivian Brownstein

Economic Intelligence: Immigrants and welfare, investing in distribution, and more. by James Aley

31 ECONOMICS FOR MANAGERS New thinking on the causes -- and costs -- of yes men and women. by Rob Norton

35 PERSONAL INVESTING If your portfolio needs pizazz, add some zest by trying a sector fund. by Antony J. Michels

Also: A tech virus in your portfolio, munis with a different tune, and Portfolio Talk with Harris Leviton of the Fidelity Retirement Growth Fund.

45 LETTERS TO FORTUNE

189 COMPANIES TO WATCH Sporting-goods maker Anthony Industries scores big by acquiring popular brands. by John Labate

191 TECHNOLOGY TO WATCH More and more companies are showing off their wares on the Internet. Here's why. by Rick Tetzeli

193 KEEPING UP The sentence you love to hate, Looney Tunes at Exxon, and other matters. by Daniel Seligman

197 ON COMPANY TIME Reengineering has left us angry, and now we're starting to vent on each other. by Julie Connelly

200 ENTREPRENEURS Bill Gross already had a thriving business -- when Spielberg came on the scene. by Alan Deutschman

ABOVE: When disaster struck at the Olin Corp. division he heads, Doug Cahill was able to reap the benefits of the reorganization he had implemented despite some doubts that "that dog won't hunt." Photograph by Suzanne Opton.

COVER: When deregulation roiled his Oregon utility, Randy Berggren had to instill change by selling continuity. "Even if you don't know what will happen next, you can trust in the people you're working with," he says. Photograph by Suzanne Opton.

FORTUNE (ISSN 0015-8259). Published biweekly, with three issues in October, by Time Inc. Principal office: Time & Life Building, Rockefeller Center, New York, NY 10020-1393. Reginald K. Brack Jr., Chairman; Don Logan, President; Joseph A. Ripp, Treasurer; Harry M. Johnston, Secretary. Subscriptions: U.S., possessions: one year (27 issues) $52.95; Canada: one year (27 issues) $53.73. Second-class postage paid at New York, NY, and at additional mailing offices. Authorized as second-class mail by the Post Office Dept., Ottawa, Canada, and for payment of postage in cash. Member, Audit Bureau of Circulations. POSTMASTER: Send address changes to FORTUNE, P.O. Box 30604, Tampa, Fla. 33630-0604. Customer inquiries: FORTUNE, P.O. Box 60001, Tampa, Fla. 33660-0001. Phone: 1-800-621-8000. ) (c) 1993. Time Inc. All rights reserved. FORTUNE is a registered mark of Time Inc. For subscription queries, call Customer Service at 1-800-621-8000. Time Inc. GST R122781974.