Level 5 leaders channel their ego needs away from themselves and into the larger goal of building a great company. It's not that Level 5 leaders have no ego or self-interest. Indeed, they are incredibly ambitious-but their ambition is first and foremost for the institution, not themselves.

The challenge is not just to build a company that can endure; but to build one that is worthy of enduring.

To have a Welch-caliber C.E.O. is impressive.To have a century of Welch-Caliber C.E.O.'s all grown from the inside - well, that is one key reason why G.E. is a visionary company.

A great company will have many once-in-a-liftetime opportunities.

The people who don't have a great life are the ones who settle for a good one.

If we only have great companies, we will merely have a prosperous society, not a great one. Economic growth and power are the means, not the definition, of a great nation.

Comparison, a great teacher once told me, is the cardinal sin of modern life. It traps us in a game that we can't win. Once we define ourselves in terms of others, we lose the freedom to shape our own lives.