GIUSEPPE SODA is Professor of Organization Theory and Network Analysis in the Department of Management and Technology at Bocconi University and Director of the Claudio Dematté Research Division at SDA Bocconi School of Management, Italy. He has published a number of academic articles in journals such as Administrative Science Quarterly, Organization Science, Academy of Management Journal, Strategic Management Journal, Strategic Organization, Advances in Strategic Management, Organization Studies, British Journal of Management and in many books. He is member of the Editorial Board for Organization Science and Strategic Organization and of the Research Committee of OMT Division at the Academy of Management. MASSIMO BERGAMI is Full Professor of Organizational Behavior in the Department of Management and Dean of Alma Graduate School at the University of Bologna (Italy), since it was established in 2000. He is also a non Executive Director of Ducati Motor Holding, Università della Tuscia and Previlabor. He is a member of the Italian Cinema Commission (Ministry of Culture) and of the Advisory Board of the Fullbright Best. He has recently been appointed Chair of the Emba Consortium for Global Business Innovation and has been involved in several projects on academic innovation, including the StartCup Business Plan Competition (Managing Director), Almacube (Director), and the Partnership for GrowthProgram of the US Embassy in Italy. He has published several articles and books. PIERLUIGI CELLI is Managing Director and Chief Executive Officer at LUISS 'Guido Carli' University, Rome, Italy. He graduated in Sociology at the University of Trento and gained considerable experience as a HR executive across a number of Italian companies (Enel, Rai, Unicredit, Olivetti and Eni). He currently serves on the boards of Illy, Unipol, BAT and Demoskopea. He is the author of many books published by major publishing houses, as well as numerous essays and articles. He was previously Professor of Industrial Organisation at the Faculty of Political Science and Cagliari and at the Faculty of Economics and Business at LUISS. He was also Professor of Cultural Institutions at the Università Cattolica del Sacro Cuore in Milan. He is currently a member of the Board of Directors of British American Tobacco, Illy Caffe, Unipol and Demoskopea and sits on the Board of Hera SpA, Messaggerie Libri and BT Italy.

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• List of Tables List of Charts Acknowledgements Introduction A Snapshot at the Start of 2011 The Case Study, Methodology, Key Players PART I: THE EVOLUTION OF ENEL From the Origins to the Regulatory Shake-up (1962-1996) Cultural Change, Reorganization and Diversification (1996-2002): The Search for a New Identity Strategic Refocusing and International Expansion: Building the Future Enel (2002-2010) 2008-2010: Enel Today Enel, Ten Years of Extraordinary Financial Performance Conclusions PART II: WHEN MANAGEMENT MAKES THE DIFFERENCE A Balance between Dynamism and Preserving Excellence and Operational Reliability Leadership in a Combination of Continuity and Strategic Change: Building a New Identity Institutional Legitimation and Reputation Conclusions PART III: THE BEST ENERGY COMPANY IN THE WORLD Global Energy Scenarios Technological Foundations for a Sustainable Competitive Edge Strategic Challenges and Building One Company Conclusions Afterword - Five Rather Difficult Issues by Gianni Lorenzoni Bibliography

GIUSEPPE SODA is Professor of Organization Theory and Network Analysis in the Department of Management and Technology at Bocconi University and Director of the Claudio Dematté Research Division at SDA Bocconi School of Management, Italy. He has published a number of academic articles in journals such as Administrative Science Quarterly, Organization Science, Academy of Management Journal, Strategic Management Journal, Strategic Organization, Advances in Strategic Management, Organization Studies, British Journal of Management and in many books. He is member of the Editorial Board for Organization Science and Strategic Organization and of the Research Committee of OMT Division at the Academy of Management. MASSIMO BERGAMI is Full Professor of Organizational Behavior in the Department of Management and Dean of Alma Graduate School at the University of Bologna (Italy), since it was established in 2000. He is also a non Executive Director of Ducati Motor Holding, Università della Tuscia and Previlabor. He is a member of the Italian Cinema Commission (Ministry of Culture) and of the Advisory Board of the Fullbright Best. He has recently been appointed Chair of the Emba Consortium for Global Business Innovation and has been involved in several projects on academic innovation, including the StartCup Business Plan Competition (Managing Director), Almacube (Director), and the Partnership for GrowthProgram of the US Embassy in Italy. He has published several articles and books. PIERLUIGI CELLI is Managing Director and Chief Executive Officer at LUISS 'Guido Carli' University, Rome, Italy. He graduated in Sociology at the University of Trento and gained considerable experience as a HR executive across a number of Italian companies (Enel, Rai, Unicredit, Olivetti and Eni). He currently serves on the boards of Illy, Unipol, BAT and Demoskopea. He is the author of many books published by major publishing houses, as well as numerous essays and articles. He was previously Professor of Industrial Organisation at the Faculty of Political Science and Cagliari and at the Faculty of Economics and Business at LUISS. He was also Professor of Cultural Institutions at the Università Cattolica del Sacro Cuore in Milan. He is currently a member of the Board of Directors of British American Tobacco, Illy Caffe, Unipol and Demoskopea and sits on the Board of Hera SpA, Messaggerie Libri and BT Italy.

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• List of Tables List of Charts Acknowledgements Introduction A Snapshot at the Start of 2011 The Case Study, Methodology, Key Players PART I: THE EVOLUTION OF ENEL From the Origins to the Regulatory Shake-up (1962-1996) Cultural Change, Reorganization and Diversification (1996-2002): The Search for a New Identity Strategic Refocusing and International Expansion: Building the Future Enel (2002-2010) 2008-2010: Enel Today Enel, Ten Years of Extraordinary Financial Performance Conclusions PART II: WHEN MANAGEMENT MAKES THE DIFFERENCE A Balance between Dynamism and Preserving Excellence and Operational Reliability Leadership in a Combination of Continuity and Strategic Change: Building a New Identity Institutional Legitimation and Reputation Conclusions PART III: THE BEST ENERGY COMPANY IN THE WORLD Global Energy Scenarios Technological Foundations for a Sustainable Competitive Edge Strategic Challenges and Building One Company Conclusions Afterword - Five Rather Difficult Issues by Gianni Lorenzoni Bibliography

GIUSEPPE SODA is Professor of Organization Theory and Network Analysis in the Department of Management and Technology at Bocconi University and Director of the Claudio Dematté Research Division at SDA Bocconi School of Management, Italy. He has published a number of academic articles in journals such as Administrative Science Quarterly, Organization Science, Academy of Management Journal, Strategic Management Journal, Strategic Organization, Advances in Strategic Management, Organization Studies, British Journal of Management and in many books. He is member of the Editorial Board for Organization Science and Strategic Organization and of the Research Committee of OMT Division at the Academy of Management. MASSIMO BERGAMI is Full Professor of Organizational Behavior in the Department of Management and Dean of Alma Graduate School at the University of Bologna (Italy), since it was established in 2000. He is also a non Executive Director of Ducati Motor Holding, Università della Tuscia and Previlabor. He is a member of the Italian Cinema Commission (Ministry of Culture) and of the Advisory Board of the Fullbright Best. He has recently been appointed Chair of the Emba Consortium for Global Business Innovation and has been involved in several projects on academic innovation, including the StartCup Business Plan Competition (Managing Director), Almacube (Director), and the Partnership for GrowthProgram of the US Embassy in Italy. He has published several articles and books. PIERLUIGI CELLI is Managing Director and Chief Executive Officer at LUISS 'Guido Carli' University, Rome, Italy. He graduated in Sociology at the University of Trento and gained considerable experience as a HR executive across a number of Italian companies (Enel, Rai, Unicredit, Olivetti and Eni). He currently serves on the boards of Illy, Unipol, BAT and Demoskopea. He is the author of many books published by major publishing houses, as well as numerous essays and articles. He was previously Professor of Industrial Organisation at the Faculty of Political Science and Cagliari and at the Faculty of Economics and Business at LUISS. He was also Professor of Cultural Institutions at the Università Cattolica del Sacro Cuore in Milan. He is currently a member of the Board of Directors of British American Tobacco, Illy Caffe, Unipol and Demoskopea and sits on the Board of Hera SpA, Messaggerie Libri and BT Italy.

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• List of Tables List of Charts Acknowledgements Introduction A Snapshot at the Start of 2011 The Case Study, Methodology, Key Players PART I: THE EVOLUTION OF ENEL From the Origins to the Regulatory Shake-up (1962-1996) Cultural Change, Reorganization and Diversification (1996-2002): The Search for a New Identity Strategic Refocusing and International Expansion: Building the Future Enel (2002-2010) 2008-2010: Enel Today Enel, Ten Years of Extraordinary Financial Performance Conclusions PART II: WHEN MANAGEMENT MAKES THE DIFFERENCE A Balance between Dynamism and Preserving Excellence and Operational Reliability Leadership in a Combination of Continuity and Strategic Change: Building a New Identity Institutional Legitimation and Reputation Conclusions PART III: THE BEST ENERGY COMPANY IN THE WORLD Global Energy Scenarios Technological Foundations for a Sustainable Competitive Edge Strategic Challenges and Building One Company Conclusions Afterword - Five Rather Difficult Issues by Gianni Lorenzoni Bibliography