Great companies create an environment in which employees act like owners. They do this through clear communication, articulation of clear vision and priorities, coaching and openness to debate/discussion. I would argue that this type of environment helps people to be at their best - and helps the company to be at its best.

I like films about people who figured out what they believed and had the guts to act on it in a way that added value to others. So, there are lots of movies that have characters who did that. I'll pick an odd one - Stranger Than Fiction because I really liked the movie - particularly the offbeat cookie maker. You'll have to see the movie to see what I mean. The movie also reinforces that you can be the author of your own script.

Personal relationships are often based on affection - professional relationships can have affection but they must have mutual understanding, trust and respect.

Why do leaders fail? Isolation and inability to learn. They are afraid to express doubt, admit vulnerability or seek advice from subordinates. Leaders must actively work to seek feedback and a reality check. They must be open to asking questions and framing issues. As the world becomes more complex and global, the risk of isolation becomes greater. The need for leaders to be open to learning becomes greater. Great leaders will need to ask the right questions and balance inquiry with advocacy.

Process improvement programs are like teaching people how to fish. Strategy maps and scorecards teach people where to fish.

Managing risk is very different from managing strategy. Risk management focuses on the negative-threats and failures rather than opportunities and successes.

The vision must be realistic - it has to be based on clear distinctive competencies. Again, what would the world lose if you didn't exist? A vision is very powerful because it gives you a basis to judge every action you take. Every action should be viewed through the prism of whether it furthers the vision.