Sometimes you lose - perhaps because you play against the very best, or because surprises happen - but if there is organizational confidence, you bounce back from losses and convert them to successes.

The very lack of opportunity the group faces creates a self-defeating cycle and puts pressure on members to limit their aspirations.

Power is the ability to get things done

The importance of discretion increases with closeness to the top of a hierarchical organization.

It is easier to talk about money -- and much easier to talk about sex -- than it is to talk about power. People who have it deny it; people who want it do not want to appear to hunger for it; and people who engage in its machinations do so secretly.

What being among the 'right people' entails is the possession of human capital, rather than organizational capital: an individual reputation, portable skills, and network connections. Career responsibility is squarely in the hands of individuals, a function of their knowledge and networks. Transferable knowledge is more important to a career than firm-specific knowledge.

Change is like putting lipstick on a bulldog. The bulldog's appearance hasn't improved, but now it's really angry.