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.

Luck never built a business. Prosperity and growth come only to the business that systematically finds and exploits its potential.

I would hope that American managers-indeed, managers worldwide-continue to appreciate what I have been saying almost from day one: that management is so much more than exercising rank and privilege, that it is much more than "making deals." Management affects people and their lives.

Business, that's easily defined - it's other people's money.

For the first four years, no new enterprise produces profits. Even Mozart didn't start writing music until he was four.

You can either take action, or you can hang back and hope for a miracle. Miracles are great, but they are so unpredictable.

No single piece of macroeconomic advice given by the experts to their government has ever had the results predicted.