Over the last few decades, our past – and our memories of it – have undoubtedly shaped our discussions about the future. But what happens when it's no longer an intellectual or philosophical debate but a strategic dialogue that needs to be taken seriously? In this issue of MISC, we take inspiration from Tom Peters and Robert H. Waterman's famous book, In Search of Excellence, where they provide pragmatic ideas on what management should be. Their dialogue, however, sounds much like a couple of romantics talking about design, empowerment, and diversity. "Excellent firms don't believe in excellence," says Peters, "only in constant improvement and constant change." How have our ideas of excellence changed, and how will we measure excellence moving forward?