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As economies and citizen priorities continue to evolve, governance practices must also adjust to changing circumstances and public expectations. This article explores the important topic of regulatory transformation, drawing from both the academic literature and the author's recent experience heading Connecticut's Department of Energy and Environmental Protection. The article makes the case for a focus on vision and execution as the critical starting points for good governance in the twenty-first century, drawing on best practices from the world of management. It then addresses some of the constraints faced by government organizations in this evolving era. Finally, the article identifies five core elements of regulatory excellence: integration, innovation, incentives, investment, and implementation.