From the editor.

If execution is the critical factor in a successful alliance or merger, a key element of execution is having a way to assess progress, or lack thereof. That's often especially difficult when trying to put together disparate organizations with different cultures and different ways of looking at similar issues.

Our cover story, written by Larraine Segil of Vantage Partners, an alliance consultant, argues that a missing ingredient in many alliances and mergers is metrics. While identifying and agreeing on metrics may not be easy--and some concepts don't lend themselves to simple measurement--embedding good metrics in the combination process can be a highly effective way to judge how well the partnership is doing, and where it could be improved.

As part of our occasional series of industry profiles, Managing Editor Ellen M. Heffes interviewed several executives in the restaurant industry to find out what they're doing to sustain profitability and drive success. Financial executives at Wendy's International, Brinker International (both owners of several well-known chains) and Morton's Restaurant Group, which operates high-end steakhouses, also spoke about how they came to the business and what they see as key strategic issues for their companies.

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On the heels of the extensive cover package in the November issue on the changing role of the CFO, two executives at Booz Allen Hamilton write that today's top CFO is an activist, becoming ever more involved in the operating levers of the business. "The Activist CFO must, by definition, be agile enough to succeed in a variety of different roles," they write, "depending on the company's current operating situation, market needs and industry dynamics, constantly reinventing his or her value-add to the CEO."

IT security has been the focus of intense interest and no little expense following years of highly publicized virus attacks on corporate networks. But, as much as been spent on securing the perimeter, what about the threats from within? IT vendors and experts talk about the seemingly innocent--or not so innocent--actions by employees and other authorized users that could create a host of ills, ranging from denial of service to fraud, loss of intellectual property, contamination and more.

Herding cats or herding squirrels is a common image for trying to control the seemingly uncontrollable. Researchers Andrew Spanyi and Mark Towers argue that organizations can indeed get employees to coalesce around strategic initiatives--provided that those are clearly communicated and followed through.

In an article with real relevance to public companies, two attorneys at McDermott, Will & Emery discuss the approach companies should take when confronted by a Securities and Exchange Commission investigation, formal or informal. Cooperation can go a long way, they write, toward making the end result less painful and less costly.

And, in another topic "ripped from the headlines," as they like to say on TV, attorney Paul Ferrillo of Gotshal & Manges looks at insurance coverage that can ride to the rescue when directors and officers are faced with the aftermath of accounting fraud. A policy with a non-rescission clause, he writes, can protect them even if the insurer chooses to sue on a claim the policy should be nullified because it was underwritten based on falsified information.

Jeffrey Marshall