Social media can work to a CEO's advantage. Someone with a great product in a small town in the middle of nowhere can compete in the world marketplace. In 1962, Sam Walton changed the face of retailing with Wal-Mart. As we speak, Amazon is again changing the face of retail with on-line buying.

Companies whose marketing and sales departments are not using the Internet and social media for communication may have the same fate that the dime stores had when Wal-Mart came onto the scene.

Vision without execution is like a plane without wings, or Dumbo without ears, it just won't fly.

When values are deeply embedded within an organization, they seldom change.

For almost 100 years, The Walt Disney Company has had a variety of leaders. Even though it has been hard for some of these leaders to maintain their focus, the Company has been successful in remaining true to Walt's original direction to create the finest in family entertainment.

The two greatest role models in my professional career were Walt Disney and Dr. Deming. Dr. Deming was the Father of Total Quality Management and the person who redefined quality for the entire world.

One of the reasons for The Walt Disney Company's long- term success is really the first of Dr. Deming's famous points, "create constancy of purpose." In his professional career, Walt's major passion was to provide the finest in family entertainment. For the most part, for nearly a century, the Company has stayed true to that legacy, and has set the standard for the entire entertainment industry.