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Management Quotes

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Management Quotes

“The hedge fund known as "Long Term Capital Management" collapsed last fall through overconfidence in its highly leveraged methods, despite I.Q.'s of its principals that must have averaged 160. Smart people aren't exempt from professional disasters from overconfidence. Often, they just run aground in the more difficult voyages they choose, relying on their self-appraisals that they have superior talents and methods.”

“I think there are probably too many asset management companies in the world, and I think the place to be is either big or small. The area where it is probably more difficult to be is in the middle ground, where you've got that cost of regulation, you've got the cost of buying your own research, you've got all the costs of running an asset management company without the benefits of a big income producing asset.”

“There is a difficult transition in management from being the knowledgeable expert and the problem solver to becoming a process architect. The importance of good process in organizations is undervalued and people seldom get credited for putting good processes in place. It makes sense therefore that C-level executives don't want to delegate expertise and problem solving tasks which help them to "shine" and attract widespread recognition.”

“Life is difficult. This is a great truth, one of the greatest truths. It is a great truth because once we truly see this truth, we transcend it. Once we truly know that life is difficult-once we truly understand and accept it-then life is no longer difficult. Because once it is accepted, the fact that life is difficult no longer matters.”

“Teamwork is neither "good" nor "desirable." It is a fact. Wherever people work together or play together they do so as a team. Which team to use for what purpose is a crucial, difficult and risky decision that is even harder to unmake. Managements have yet to learn how to make it.”

“If my happiness at this moment consists largely in reviewing happy memories and expectations, I am but dimly aware of this present. I shall still be dimly aware of the present when the good things that I have been expecting come to pass. For I shall have formed a habit of looking behind and ahead, making it difficult for me to attend to the here and now. If, then , my awareness of the past and future makes me less aware of the present, I must begin to wonder whether I am actually living in the real world.”

“Drama is the most difficult of all arts. In it two things are to be satisfied - first, the ears, and second, the eyes. To paint a scene, if one thing be painted, it is easy enough; but to paint different things and yet to keep up the central interest is very difficult. Another difficult thing is stage - management, that is, combining different things in such a manner as to keep the central interest intact.”

“Innovation requires us to systematically identify changes that have already occurred in a business - in demographics, in values, in technology or science - and then to look at them as opportunities. It also requires something that is most difficult for existing companies to do: to abandon rather than defend yesterday.”