Leadership is more doing than dash.

(Waste = Loss): The first rule of business is to survive and the guiding principle of business economics is not the maximisation of profit, it is the avoidance of loss

Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.

The most important, and indeed the truly unique, contribution of management in the 20th century was the fifty-fold increase in the productivity of the MANUAL WORKER in manufacturing. The most important contribution management needs to make in the 21st century is similarly to increase the productivity of KNOWLEDGE WORK and the KNOWLEDGE WORKER.

Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society – and especially in the economy – as doing something different rather than doing better what is already being done. This is basically what Say, two hundred years ago, meant when he coined the term entrepreneur.

Time is the scarcest resource.

It is commonly believed that innovations create changes - but few ever do. Successful innovations exploit changes that have already happened.