The relationship between business and the liberal arts is discussed by the Chairman of CBS, Inc. The following attributes are identified as valuable to a liberal arts education: an open, inquiring, and flexible mind; the possession of broadly applicable skills; the exercise of individual judgment; adaptability to change; affection for the arts; and ability to write and speak clearly and to read. Successful executives will be those who understand and interpret complex relationships. To be effective demands continual reconsiderations of assumptions underlying old and familiar networks, as well as the gathering and sorting of new information. Managers need to be flexible, critical, and capable of continuous learning, as well as capable of anticipating change. To examine the influence of the liberal arts educational background on effective business leadership, CBS has funded the establishment of a Corporate Council on the Liberal Arts at the American Academy of Art and Sciences. Information is being collected on the role of liberal arts graduates employed at CBS. In addition, the performance of liberal arts and non-liberal arts graduates will be compared over a 5-year period. An experimental Faculty-in Residence Program at CBS is also briefly described. (SW)