Management is a curious phenomenon. It is generously paid, enormously influential, and significantly devoid of common sense

The idea that you can take smart but inexperienced 25-year-olds who never managed anything and turn them into effective managers via two years of classroom training is ludicrous.

We have great managers who havent spent a day in management school. Do we have great surgeons that havent spent a day in surgical school?

Strategy is a pattern in a stream of decisions

What I have against M.B.A.s is the assumption that you come out of a two-year program probably never having been a manager - at least for full-time younger people M.B.A. programs - and assume you are ready to manage.

I describe management as arts, crafts and science. It is a practice that draws on arts, craft and science and there is a lot of craft - meaning experience - there is a certain amount of craft meaning insight, creativity and vision, and there is the use of science, technique or analysis.

What we call a financial crisis is really at its core a crisis of management, and not just a crisis of management, but a crisis of management culture. ...In other words, what you had is a detachment of people who know the business from people who are running the business.