Walt Disney, of all people, did a good job of describing his own netony. "People who have worked with me say I am 'innocence in action,'" he wrote. "They say I have the innocence and unselfconsciousness of a child. Maybe I have. I still look at the world with uncontaminated wonder."

Embrace error: Create an atmosphere in which prudent risk taking is strongly encouraged.

Leaders are people who do the right thing: managers are people who do things right. Both roles are crucial, but they differ profoundly. I often observe people in top positions doing wrong things well.

Every one of the geezers who continues to play a leadership role has one quality of overriding importance: neotony. The dictionary definition is that neotony, a zoological term, involves "the retention of youthful qualities throughout old age." It is more than merely retaining a youthful appearance, although that is often part of it. Neotony is the retention of all those wonderful qualities that we associate with youth: curiosity, playfulness, eagerness, fearlessness, warmth, energy.

Innovation- any new idea-by definition will not be accepted at first. It takes repeated attempts, endless demonstrations, monotonous rehearsals before innovation can be accepted and internalized by an organization. This requires courageous patience.

Possess the "Nobel Factor": Possess and constantly demonstrate optimism, faith, and hope. They create choices. I am reminded of an ancient Chinese proverb: "That the birds of worry and care fly above your head, this you cannot change; but that they build nests in your hair, this you can prevent."

It is the capacity to develop and improve their skills that distinguishes leaders from followers.