The Chinese are quite entrepreneurial. Remember when Lenovo bought IBM's PC division. It was said that China didn't need a brand name, China didn't need to buy Lenovo to get into the PC business, I remember reading a one-liner somewhere which struck me as quite possibly true, it said the one thing that the Chinese had not been able to copy or figure out was the way, in terms of systems, that Americans - it probably would be true for Europeans as well - that Americans install and live by their management systems, while China is still quite half-assed. Perhaps that is a true statement.

My half-baked reading of history is that we continue to go through these waves of entrepreneurial explosion followed by merger mania and consolidation. Out of that come big sluggish companies that eventually collapse under the weight of what they've created, and are killed off by the next wave of entrepreneurs.

Digital content and electronic networks have changed the basic environmental conditionsin which documents are created, distributed, and used.

Forget loyalty. Or at least loyalty to one's corporation. Try loyalty to your Rolodex-your network-instead.

Leaders' careers will usually be determined by their handling of one or two critical events that no one could possibly anticipate or plan for.

The little people will get even, which is one of a thousand reasons why they are not little people at all. If you're a jerk as a leader, you will be torpedoed. And usually it won't be by your vice presidents; it will be on the loading dock at 3am when no supervisors are around.

Reward excellent failures. Punish mediocre successes.