Geopolitical Fragmentation. Neutrality no longer exists; every choice becomes political. Courage means publicly owning your dependencies and your disconnections, even at the cost of losing markets.

Ecological and Energy Transition. The transition requires costly sacrifices. Courage means making decisive choices for the long term despite short-term pressures.

Technological Acceleration. AI is displacing jobs and creating ethical risks. Courage means setting boundaries and organizing its integration rather than giving in to immediate efficiency.

Regulatory Transformation. Regulations are changing in nature: they now hold leaders directly accountable. Courage means embracing these constraints, investing to be compliant tomorrow, and refusing non-compliant shortcuts.

Social Pressure and Public Expectations. Public opinion and employees punish hypocrisy faster than the market rewards effort. Courage means acknowledging contradictions instead of hiding behind rhetoric.

Demographics and the Labor Market. An aging population and labor shortages are forcing organizations to rethink their structures. Courage means investing in the people you already have (their skills, their health, and their history) instead of wearing them out or replacing them.

Economic Volatility. Price hikes and unpredictability make every budget uncertain. Courage means choosing with clear-headedness where to invest and where to cut, in order to reduce the company's complexity.

Polycrisis. Making decisions amid permanent uncertainty is very risky. Courage means acting without waiting for absolute certainty.

Societal Polarization. Every public statement can offend a segment of public opinion. Courage means holding positions consistent with your culture, even if it means displeasing some.

The Changing Nature of Performance. Optimization is no longer an effective strategy in a world of fragile flows. Courage means embracing imperfection and investing in robustness rather than in maximum efficiency.