One reason leaders don't delegate is they haven't been sufficiently clear with the team regarding their vision and key priorities - so that the team understands where the firm is going. If everyone is on the same page, it's a lot easier to delegate effectively.

The better strategy is to focus on strengths and surround yourself with people who can complement your skills. However, you have to first do the analysis.

You're changing, the world is changing, and your hopes and aspirations are regularly being updated. That's why I say this is a life long struggle - for everybody.

Business education must constantly be changing and being updated to improve the quality of the student experience. On line courses will be a key part of supplementing course offerings and providing opportunities for life-long learning. Like any industry, business schools must continue to think and re-think how they add value to students and create thought leadership.

I loved my career at Goldman Sachs. I believed in business principle number 1: if the client succeeds, our own success will follow. This principle formed the basis for my career and my leadership style.

There are multiple ways to solve a problem and add value. There are seldom right answers. So, you've got to use your abilities to diagnose a situation and use your best judgment on what to do and how to do it. You WILL make mistakes - when you do, admit them and go back and try to fix them. I don't know is often the right answer.

If you're the smartest person in the room, it can sometimes be hard to learn to delegate - the person to whom you're delegating will do the task worse than you would - and it will annoy you!