Globalization is now no longer an objective but an imperative, as markets open and geographic barriers become increasingly blurred and even irrelevant.

Strategy is not a lengthy action plan. It is the evolution of a central idea through continually changing circumstances.

Protecting underperformers always backfires.

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.

Make winners out of every business in your company. Don't carry losers.

That's all managing is: just coming up with the right questions and getting the right answers.

Drucker said: 'If you weren't already in this business, would you enter it today? And if not, what are you going to do about it?' ... Simple, right? But incredibly powerful.