What is the Three Horizons framework, and how should leaders apply it?

The Three Horizons framework outlines how three versions of the future coexist in the present. Horizon One represents the current operational business model that consumes most daily energy. Horizon Two focuses on entrepreneurial experiments and bridge pilots to test emerging models cheaply. Horizon Three represents long-term strategic reinvention. Great leadership requires shifting gears fluidly across all three horizons.