One cannot be successful on visible figures alone ... the most important figures that one needs for management are unknown or unknowable, but successful management must nevertheless take account of them.

To successfully respond to the myriad of changes that shake the world, transformation into a new style of management is required. The route to take is what I call profound knowledge, knowledge for leadership of transformation.

To optimize the whole, we must sub-optimize the parts

The worker is not the problem. The problem is at the top! Management!

Does the customer invent new product or service? The customer generates nothing. No customer asked for electric lights. There was gas and gas mantles, which gave good light.

New product and new types of service are generated, not by asking the consumer, but by knowledge, imagination, innovation, risk, trial and error on the part of the producer, backed by enough capital to develop the product or service and to stay in business during the learn months of introduction.

The greatest losses are unknown and unknowable.