Much of the $14 trillion of assets that firms like Vanguard, BlackRock, and State Street manage is now held in index funds, creating a huge class of permanent institutional investors. These so-called passive investors (unlike activist investors, passive investors don't have power to exit the fund) own almost 60 percent of the Fortune 500 and they have found their voice. In this agenda-setting book, three leaders who have been on the front lines of these changes with boards, management teams, and the investment community challenge leaders to rethink TSR (total shareholder return). Offering boards a playbook for managing talent, strategy, and risk, the authors explain how to analyze the business through the eyes of a shareholder activist, help management take a longer view and communicate it to investors, and track execution of long-term plans and goals.