In 15 years from now half of US universities may be in bankruptcy ... in the end I'm excited to see that happen. So pray for Harvard Business School if you wouldn't mind.

The best strategy is a balance between having a deliberate one, and a flexible, or emergent strategy.

My conclusion: Management is the most noble of professions if it's practiced well. No other occupation offers as many ways to help others learn and grow, take responsibility and be recognized for achievement, and contribute to the success of a team.

Each of our children during their high school years went to 'early morning seminary' - scripture study classes that met in the home of a church member every school day morning from 6:30 until 7:15.

The answer is the disruptive innovator, an outsider, who creates a product or service for the non-existing consumer in a non-existing market for almost no profit.

Management has to provide the coordinating mechanism between what the supplier provides and what the user needs in not-good-enough situations where product architecture is consequently interdependent. Management always beats markets when there is not sufficient information.

The personal computer was a disruptive innovation relative to the mainframe because it enabled even a poor fool like me to have a computer and use it, and it was enabled by the development of the micro processor. The micro processor made it so simple to design and build a computer that IB could throw in together in a garage. And so, you have that simplifying technology as a part of every disruptive innovation. It then becomes an innovation when the technology is embedded in a different business model that can take the simplified solution to the market in a cost-effective way.