Read critically and analyze the following scenario:

An emergency meeting was called in London by John Smythe Heathering, the Executive Director of Corporate Services, when the 2015 numbers came out for the business.

Sales dropped 7% overall in a quarterly downward spiral with the largest portion of decline having been in the American division at 3.8%.

The move to "Business First" in America prevented the loss from being as great as 6.5%. This change helped but not enough to overcome the full 6.5%. The competition continues to make inroads into the business not just in America but Asia as well.

The purpose of the emergency meeting is to discuss the decline in sales and make whatever decisions necessary to reverse the trend with immediate implementation.

The question before the group is how do we reverse the downward trend? A competitive edge is necessary. As 21st century leaders, the Executive Directors realize that five challenges have to be examined if they are to find ways keep the company running at a profit. Further, they know that as company leaders they will have to lead the change required to make the recommendations work.

In the emergency meeting, the Directors decided that they needed professional help. They turn to you, a leadership consultant to help them discover ways in which they can improve sales of the company and set the company up for long-term financial health.

Using the scenario; Explain each leadership challenge facing the 21st century leader: adaptability, sustainability, innovation, knowledge management, and globalization and the relationship each has to developing a competitive edge in business today.

(Request at least one paragraph for each please)