If GE's strategy of investment in China is wrong, it represents a loss of a billion dollars, perhaps a couple of billion dollars. If it is right, it is the future of this company for the next century.

Too often we measure everything and understand nothing. The three most important things you need to measure in a business are customer satisfaction, employee satisfaction, and cash flow. If you’re growing customer satisfaction, your global market share is sure to grow, too. Employee satisfaction gets you productivity, quality, pride, and creativity. And cash flow is the pulse—the key vital sign of a company.

The team with the best players usually does win - this is why you need to invest the majority of your time and energy in developing your people.

Any time there is change, there is opportunity. So it is paramount that an organization get energized rather than paralyzed.

I think the move by Mr. Greenspan was welcomed by everyone here.

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.

The art of managing and leading comes down to a simple thing. Determining and facing reality about people, situations, products, and then acting decisively and quickly on that reality. Think how many times we have procrastinated, hoped it would get better. Most of the mistakes you've made have been through not being willing to face into it, straight in the mirror that reality you find, then taking action on it. That's all managing is, defining and acting. Not hoping, not waiting fro the next plan. Not rethinking it. Getting on with it. Doing it. Defining and doing it.