Every three or four years I pick a new subject. It may be Japanese art; it may be economics. Three years of study are by no means enough to master a subject but they are enough to understand it. SO for more than 60 years I have kept studying one subject at a time.

What gets measured gets managed.

Balance Sheets are meaningless. Our accounting systems are still based on the assumption that 80% of costs are manual labor.

Leadership is an achievement of trust.

If something fails despite being carefully planned, carefully designed, and conscientiously executed, that failure often bespeaks underlying change and, with it, opportunity.

The most serious mistakes are not being made as a result of wrong answers. The true dangerous thing is asking the wrong question.

I no longer think that learning how to manage people, especially subordinates, is the most important for executives to learn. I am teaching above all else, how to manage oneself.