Dakota tribal wisdom says that when you're on a dead horse, the best strategy is to dismount. Of course, there are other strategies. You can change riders. You can get a committee to study the dead horse. You can benchmark how other companies ride dead horses. You can declare that it's cheaper to feed a dead horse. You can harness several dead horses together. But after you've tried all these things, you're still going to have to dismount.

Ideas that transform industries almost never come from inside those industries.

There is no way to create wealth without ideas. Most new ideas are created by newcomers. So anyone who thinks the world is safe for incumbents is dead wrong.

Remarkable contributions are typically spawned by a passionate commitment to transcendent values such as beauty, truth, wisdom, justice, charity, fidelity, joy, courage and honor.

Strategy is, above all else, the search for above average returns.

The biggest barriers to strategic renewal are almost always top management's unexamined beliefs.

In an increasingly non-linear economy, incremental change is not enough-you have to build a capacity for strategy innovation, one that increases your ability to recognize new opportunities.