This edition of The Business of Government magazine provides a glimpse into the many challenges, risks, and opportunities facing today's government executives. More importantly, it introduces a select group of government leaders who offer their insights, outline successes, and tell us how they, in their own unique way, are making a difference in an era of fiscal austerity. Today's conditions require government executives to go beyond simply doing more with less—to find smarter ways of doing business, using resources more efficiently, and investing them more wisely. The dramatic nature of this historical moment cannot be overstated. It is fully revealed by the depth of the vicissitudes being faced. How government leaders respond matters and the conditions require more than vague changes. It is to be understood that today's actions affect future choices and lost opportunities result in ubiquitous costs. In the end, it is not necessarily retrieving something ideal from the past, but discovering a new path forward in the present. The issue also continues and expands on the core mission of the IBM Center, which is to connect public management research to practice. Whether it's getting big things done in government, enhancing national competitiveness, revitalizing public service, reforming the federal IT budget, or evaluating citizen participation and using wikis in government, we bring together thoughtful perspectives from some of the leading practitioners and academics in the field.