Forget land, buildings, or machines-the real source of wealth today is intelligence, applied intelligence. We talk glibly of "intellectual property" without taking on board what it really means. It isn't just patent rights and brand names; it is the brains of the place.

The first step is to measure whatever can easily be measured. This is OK as far as it goes. The second step is to disregard that which can't be easily measured or to give it an arbitrary quantitative value. This is artificial and misleading. The third step is to presume that what can't be measured easily really isn't important. This is blindness. The fourth step is to say that what can't be easily measured really doesn't exist. This is suicide.

The market is a mechanism for sorting the efficient from the inefficient, it is not a substitute for responsibility.

The morality of compromise' sounds contradictory. Compromise is usually a sign of weakness, or an admission of defeat. Strong men don't compromise, it is said, and principles should never be compromised. I shall argue that strong men, conversely, know when to compromise and that all principles can be compromised to serve a greater principle.

A leader shapes and shares a vision, which gives point to the work of others.

I like less the story that a frog if put in cold water will not bestir itself if that water is heated up slowly and gradually and will in the end let itself be killed, boiled alive, too comfortable with continuity to realize that continuous change at some point may become intolerable and demand a change in behaviour.

You have to stand outside the box to see how the box can be re-designed.