It is time to recognize conventional MBA programs for what they are - or else to close them down. They are specialized training in the functions of business, not general educating in the practice of management.

Leadership, like swimming, cannot be learned by reading about it.

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.

This obsession with leadership... It's not neutral; it's American, this idea of the heroic leader who comes in on a white horse to save the day. I think it's killing American companies.

It is time to recognize conventional MBA programs for what they are - or else to close them down. They are specialized training in the functions of business, not general educating in the practice of management.

What you get out of an M.B.A. programme, no matter how much experience, is functional tools and understanding in disciplines: you'll understand economics, you'll understand marketing, finance, accounting. That, M.B.A. programmes do very well.

My feeling about executive bonuses is that any candidate for a chief executive job who even raises the issue of bonuses should be dismissed out of hand.