"No show survives 135 years without making dramatic changes," Ringling Brothers’ chief executive Kenneth Feld told the New York Times, acknowledging what we all know down deep.

Hence, the rings are out in a new $15 million production that is more narrative than the traditional variety show format that’s served P.T. Barnum’s legacy since the 1870’s.

It’s not difficult to guess why. The circus industry along with much of modern commerce has learned the power of storytelling — and in some ways it has led the way. The story-driven Cirque du Soleil took only two decades to become as big as Ringling Brothers (though rumor has it the two prefer to think of themselves as apples and oranges).

Ringling Brothers is certainly not on the ropes — the privately held company enjoys annual revenues reported to exceed half a billion dollars. They are however competing for arena dates for the first time (Ringling abandoned canvas tents in the mid-1950’s; other than their permanent shows, this is Cirque du Soleil’s first season indoors).

Mr. Feld said the biggest reason for the shift is his 27-year-old co-producer (and daughter) Nicole whom he described as "more in touch with the future of the circus."

This seems like a good hunch to follow in an industry where spectacle no longer sustains an audience and the future belongs to people whose ties to the past come mainly through the stories of those who were there.

But then, it has ever been thus…

• Does your company have some version of the three rings — something that so defines your process that change is difficult to conceive?
• Who are the keepers of your company’s stories? How are they doing as stewards of your history and vision?
• Who are the young women and men who are "more in touch with the future" of your industry — who see things others can’t yet see?
• On a scale of 1 – 10, rate your company’s legacy leadership development. Would you say that rating is trending up or down or staying about the same?
• How long can your company afford to sustain your current legacy leadership development trend? (Hint: compare employee retention in key positions with the pace of planned retirements.)
• Consider this from Jesus: “Can a blind man lead a blind man? Will they not both fall into a pit? A student is not above his teacher, but everyone who is fully trained will be like his teacher" Luke 6.39-40 [New International Version]. What will it take to bring together the teachers and students in your organization so the geeks can become fully trained by the geezers? Put another way: What are the obstacles that keep the geeks and geezers apart? What can you do to close the gap?