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“The chairmen of the largest companies in the world can cancel an appointment or move a board meeting; a manager cannot change the date of a game. In the combined 42 years that Sir Alex Ferguson and Arsene Wenger have managed in English football, I can only remember one occasion when Sir Alex did not attend a Manchester United game.”

“As for the employees, the payment in stock options revives, somewhat ironically, the old anarchist ideology of self-management of the company, as they are co-owners, co-producers, and co-managers of the firm.”

“Part of America's industrial problems is the aim of its corporate managers. Most American executives think they are in the business to make money, rather than products or service. The Japanese corporate credo, on the other hand, is that a company should become the world's most efficient provider of whatever product and service it offers. Once it becomes the world leader and continues to offer good products, profits follow.”

“Lack of opportunity breeds dreams of escape. But professionals and managers who have invested in their careers do not leave the work force as frequently as discouraged workers in lower status occupations. Instead, they keep working, but they escape emotionally by defining achievement in professional, not company, terms. ... Thus, the potential for being stuck as career uncertainty grows takes its toll in weakening attachment to any particular employer.”

“As a result of overdiversification, their (active managers) returns get watered down. Diversification covers up ignorance. Active managers haven't done enough research into any of their companies. If managers have 200 positions, do you think they know what's going on at any one of those companies at this moment?”

“If there's a big problem and you've got the right people with you, usually the answer emerges and you do what's the obvious thing to do. I don't think of myself as some great manager or great leader. I've been very lucky to be in the positions that I've been in. I meet a lot of people and I've grown a lot of companies, and I meet a lot of CEOs at big enterprises. I'm always so surprised at how much they seem to know. It doesn't always seem to be correlated to how well they actually do.”

“There were certainly those who rubbed their eyes in astonishment. But when we held a company discussion forum with Joschka Fischer, interest was high. Six hundred senior managers came to the meeting. In the end, there was tremendous applause for Fischer, because he offered a precise analysis of the challenges our industry faces worldwide.”

“The directors of such companies, however, being the managers rather of other people's money than of their own, it cannot well be expected, that they should watch over it with the same anxious vigilance with which the partners in a private copartnery frequently watch over their own.... Negligence and profusion, therefore, must always prevail, more or less, in the management of the affairs of such a company.”

“Authority never matches responsibility. That's one of the great myths and delusions of all times. Winning managers and individual performers at all levels know that effectiveness means building your own network and creating your own authority. Those who succeed always reach far beyond formal deputation, take initiatives, and take the heat when things go awry. That's true in the military in times of war, true for 200 person manufacturing firms, and true at giant automakers or software companies.”

“My very first professional job was with a theatre company in 1965 and the first job they gave me was literally shovelling sh*t. I was an assistant stage manager and they told me to clear out the prop store. I opened it up and no-one had been in there for 25 years and it was inches deep in rat sh*t. So before I could get anywhere I had to clear it up. I thought, 'All these years of training, the best drama school in the world, and this is what I'm doing.'”