Today's smart marketers don't sell products; they sell benefit packages. They don't sell purchase value only; they sell use value.

Strategy is indeed about choosing what not to do as well as what to do. A business unit needs to decide what need it aims to satisfy in what group of people and with what value proposition that distinguishes the business from its competitors.

When managers overdo micromanaging of others, they probably hired the wrong people or failed to give them a clear idea of what each one is to accomplish. I prefer to train employees to be self-managers, just as in an orchestra each performer knows his or her role without being micromanaged.

In working on any one problem, such as higher minimum wages, so many other issues come into play, such as some businesses possibly closing down, thus creating fewer jobs and more unemployment and incentivizing companies to import more goods from abroad, which leads to even less employment at home, and so on.

The best advertising is done by satisfied customers.

I have always favored Capitalism as the best economic system and Democracy as the best political system. They both have the most potential for improving the lives of people. However, both systems need to be reexamined and refreshed so that, in fact, they do serve the majority of people.

Too much of the income gains go to too few people, even though all of the stakeholders worked together to make their companies successful. By failing to put enough income into more hands, the GDP grows slower and consumers manage to meet their needs by incurring high levels of debt.