I am reminded how hollow the label of leadership sometimes is and how heroic followership can be.

Unlike top management at Enron, exemplary leaders reward dissent. They encourage it. They understand that, whatever momentary discomfort they experience as a result of being told they might be wrong, it is more than offset by the fact that the information will help them make better decisions.

Find the appropriate balance of competing claims by various groups of stakeholders. All claims deserve consideration but some claims are more important than others.

Understand stakeholder symmetry: Find the appropriate balance of competing claims by various groups of stakeholders.

Great groups give the lie to the remarkably persistent but incorrect notion that successful organizations are the lengthened shadow of a great woman or man. However, each great group has a strong leader. In fact, great groups and great leaders create each other.

Just as no great painting has ever been created by a committee, no great vision has ever emerged from the herd.

Without character, there is no credibility; and without credibility, there is no trust.