<DIV><P>Like many other European companies, Enel has faced the profound transformation of its market and its institutional contexts. However, Enel has managed to radically change its identity by becoming a major player in the global energy market. The scale and scope of its strategic, organizational and cultural transformation make this an almost unique case to study, especially in contexts where inertia and resistance to change represent a major constraint to development. <B><B>This volume begins by exploring Enel's recent history, before mapping the steps of a remarkable transition from public monopolist to a successful transnational group. It is a story of change and strategic decision-making, which unpacks the managerial choices that enabled the company to thrive from regulatory and environmental opportunities and threats. This analysis focuses on the events and people behind the story of change, to highlight the managerial factors behind an outstanding international growth and cultural transformation. <B><B>Using the Enel case, National Monopoly to Successful Multinational unpacks the effective implementation of an ambidextrous perspective on adaptation and change, proposing some key lessons for managers and scholars alike.<B></P></DIV>