Since long-term survival of firms implies a necessity for strategic turnarounds, increasingly the key value lies within the firm’s best employees (at all levels of decision-making). Thus, the lecture focuses on understanding key principles of selecting and developing top talents (both as specialist and as generalists) in order to acquire and develop capabilities necessary for balancing explorative and exploitative activities of the firm. Prof. Sitkin will closely focus on the concept of trust/distrust as the key element to getting great people to share great ideas thus enhancing individuals’ and organizational innovation potentials.