Protecting underperformers always backfires.

What business could be mature when you have economies with more than 2 billion people in India, China and Southeast Asia?

The idea of let's all share the pain equally, or let's freeze salaries altogether - it's ass-backwards. It's absolutely ass-backwards.

Common mission trap for companies: trying to be all things to all people at all times.

You hang around with good people, you play a lot of golf, and you have a pretty good life. That's what success is all about. It's getting people you like, who want to take the hill with you, who want to win, who have the passion. This is not rocket science.

When I stop learning something new and start talking about the past versus the future, I will go.

Face reality as it is, not as it was, or as you wish it were. Be candid with everyone. Don't manage, lead. Change before you have to. If you don't have a competitive advantage, don't compete. Control your own destiny, or someone else will.