Innovation requires us to systematically identify changes that have already occurred in a business - in demographics, in values, in technology or science - and then to look at them as opportunities. It also requires something that is most difficult for existing companies to do: to abandon rather than defend yesterday.

The greatest challenge to organizations is the balance between continuity and change. You need both. At different times, the balance is slightly more over here, or slightly more over there, but you need both. And balance is basically the greatest task in leadership. Organizations have to have continuity, and yet if there is not enough new challenge, not enough change, they become empty bureaucracies, awfully fast.

The customer rarely buys what the business thinks it sells him.

People who don't take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year.

One does not "manage" people. The task is to lead people.

Important decisions are risky. They should be controversial. Acclamation means that nobody has done the homework.

Results is all that separates one company from another.