The single most significant change has been the globalization of labor markets. Product markets - trade in goods - have been globalizing for years. But now, with the reduction in communication expenses and the building of all sorts of IT infrastructure, essentially any job can be done almost anywhere.

People who don't have as much power as they would like often begin by attributing their difficulties to the environment - competitors, bosses, economic circumstances, and so forth. But in reality people are customarily their own biggest impediment to being as powerful as they would like.

Take care of your customers, and you will have a successful business. Don't, and you won't. The airlines need to figure this out - soon.

We need to reexamine and reassess the purpose of the corporation, and go back to the idea that senior leadership has responsibilities not just to shareholders but also to customers and employees.

The best path to power combines two things: 1) a path that not many are taking and 2) something that you are capable and comfortable with doing.

Part of strategy is figuring out what you're good at, figuring out what you're not good at, and then getting yourself in position to succeed by doing mostly what you have a competitive advantage doing.

You can't be normal and expect abnormal returns.