Strategic management is not a box of tricks or a bundle of techniques. It is analytical thinking and commitment of resources to action. But quantification alone is not planning. Some of the most important issues in strategic management cannot be quantified at all.

The correct assumption is that what individuals have learned by age twenty-one will begin to become obsolete five to ten years later and will have to be replaced-or at least refurbished-by new learning, new skills, new knowledge.

Communication always makes demands. It always demands that the recipient become somebody, do something, believe something. It always appeals to motivation.

No financial man will ever understand business because financial people think a company makes money. A company makes shoes, and no financial man understands that. They think money is real. Shoes are real.

The leader sees leadership as responsibility rather than as rank and privilege.

Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

Leadership is lifting a person's vision to high sights, the raising of a person's performance to a higher standard, the building of a personality beyond its normal limitations.