To face deflation, you have to have people accepting it and not reacting to it.

The role of leadership is to transform the complex situation into small pieces and prioritize them.

In most companies people make a specific contribution to the company in their function. But it is not expressed in terms of profit, only in terms of performing their function better.

The most interesting information I can have about a competitor is the cost.

I would say a good leader brings results. A great leader writes a new story, it's different. Obviously a new story has to incorporate a lot of results. But a story is a chapter in the life of a company that people want to write and want to remember.

When your results are good, you are obviously going to have a lot of press. And when you start to falter a little bit, you are going to have some criticism, and there is nothing abnormal in that.

I think that the best training a top manager can be engaged in is management by example. I want to make sure there is no discrepancy between what we say and what we do. If you preach accountability and then promote somebody with bad results, it doesn't work. I personally believe the best training is management by example. Don't believe what I say. Believe what I do.