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.

Many of our students want to do what they have done and that has made them successful thus far in their lives: play by the rules, and do what is expected. But as much social science research and writing by Malcolm Gladwell, among others, make clear, the rules are mostly created by those already in power so obtaining power often entails standing out and breaking rules and social conventions.

People tell me the Netflix series, House of Cards, is sort of like my class come to life. The movie Margin Call portrays the realities of hierarchical relationships and rivalries beautifully, and how people respond when under pressure. Gandhi and Long Walk to Freedom both have the virtue of presenting larger-than-life figures in a more realistic way, showing their flaws and contradictions - their humanity - in a way that is very helpful.

Successful organizations understand the importance of implementation, not just strategy, and, moreover, recognize the crucial role of their people in this process.

I do not think anyone who ever saw Lyndon Johnson give a speech would call him charismatic, even though he was one of the most effective presidents in U.S. history. Same with Lincoln. Charisma is only one source of power, and probably not a very important one, at that.

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.

I am not sure any of the material in Leadership BS would be helpful for small companies and certainly not their owners. Of course, even owners have bosses and need to worry about keeping their jobs - so Power might be more appropriate.