Managers are the basic and scarcest resource of any business enterprise.

Ideas are cheap and abundant; what is of value is the effective placement of those ideas into situations that develop into action.

Nobody can predict the future; the idea is to have a firm grasp of the present.

Innovative efforts should never report to line managers charged with responsibility for ongoing operations. The new project is an infant and will remain one for the foreseeable future, and infants belong in the nursery. The 'adults', that is, the executives in charge of existing businesses or products will have neither the time nor understanding for the infant.

Every organization must be prepared to abandon everything it does to survive in the future.

The most common source of mistakes in management decisions is the emphasis on finding the right answer rather than the right question.

Rank does not confer privilege or give power. It imposes responsibility.