When I became CEO of Xerox 10 years ago, the company's situation was dire. Debt was mounting, the stock sinking and bankers were calling. People urged me to declare bankruptcy, but I felt personally responsible for tens of thousands of employees.

You have to live the mission... love what you do.

Entire families work for Xerox.

You know a good board when you see one.

The hardware business is all about per-unit manufacturing cost and functionality. The services business is less asset-intensive and more dependent on people.

You should be accumulating really great relationships throughout your career.

What do you really believe makes a difference in the company? For me it's really clear. It's about customers and employees. Everything else follows. If you take care of your customers and you have motivated employees, everything else follows.