Stretch targets energize. We have found that by reaching for what appears to be the impossible, we often actually do the impossible; and even when we don't quite make it, we inevitably wind up doing much better than we would have done.

If you pick the right people and give them the opportunity to spread their wings and put compensation as a carrier behind it you almost don't have to manage them.

Keep learning; don't be arrogant by assuming that you know it all, that you have a monopoly on the truth; always assume that you can learn something from someone else.

Take lack of candor. ... I'm not talking about boldface lying, but a tendency to withhold information. That behavior is far more common, and it frustrates teams and bosses to no end.

It is better to act too quickly than it is to wait too long.

Strategy is simply resource allocation. When you strip away all the noise, that's what it comes down to. Strategy means making clear cut choices about how to compete. You cannot be everything to everybody, no matter what the size of your business or how deep its pockets.

Management is all about managing in the short term, while developing the plans for the long term.