No leader can create sustainable, significant change without a reservoir of good will. Without that, you always tend to compromise with failure.

First and foremost, effective leaders must continuously strive to make themselves smarter and better at making judgments.

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.

That's important to remember: it's not just a collection of great individuals but a group of people who enjoy playing in the sandbox, thoroughly enjoying collaborative problem solving.

One of the worst mistakes is to do nothing.

In the face of ambiguity, uncertainty, and conflicting demands, often under great time pressure, leaders must make decisions and take effective actions to assure the survival and success of their organizations. This is how leaders add value to their organizations. They lead them to success by exercising good judgment, by making smart calls when especially difficult and complicated decisions simply must be made, and then ensuring that they are well executed.

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.