During the last decade, executives in have asked many questions about their corporate headquarters: How should headquarters add value? How might it be organized? How can the performance of corporate headquarters be measured and assessed? The research conducted for this report found that times are changing for multinationals, with companies in a transitional phase between a “command and control” model and a not wholly defined approach to corporate management. A reflection of this phase can be seen in the finding that well-managed firms are more likely to consider it good practice to have a small headquarters staff.