There is no perfect strategic decision. One always has to pay a price. One always has to balance conflicting objectives, conflicting opinions, and conflicting priorities. The best strategic decision is only an approximation - and a risk.

Free enterprise cannot be justified as being good for business. It can be justified only as being good for society.

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.

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.

Efficiency, which is doing things right, is irrelevant until you work on the right things.

Almost everybody today believes that nothing in economic history has ever moved as fast as, or had a greater impact than, the Information Revolution. But the Industrial Revolution moved at least as fast in the same time span, and had probably an equal impact if not a greater one.

Most innovators are successful to the extent to which they define risks and confine them.