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Management Quotes

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Management Quotes

“The general systems of money management today require people to pretend to do something they can't do and like something they don't. It's a funny business because on a net basis, the whole investment management business together gives no value added to all buyers combined. That's the way it has to work. Mutual funds charge two percent per year and then brokers switch people between funds, costing another three to four percentage points. The poor guy in the general public is getting a terrible product from the professionals.”

“Many respected economists and statesmen believe our national debt is neither unwieldy nor a dangerous burden on the country. The trouble is that a vast majority of the American people think otherwise.... It violates basic American ideas of thrift and money management. These strong public feelings cannot be ignored forever.”

“The message to organizations is this: You have to increase the number of categories of contributing, or the types of career paths, which people can experience as successful. You cannot restrict esteem to the fewer and fewer who will be climbing up the management ladder. You need to have the majority of your people feeling like winners.”

“The good news about fresh water is that, even after accounting for the larger volume of water that is unavailable to people from the hydrologic cycle, there is enough on a global scale to support current and anticipated populations on a sustainable basis... Three essential goals are dependable and safe supplies for people, protection and management of the environmental systems through which water moves, and efficient water use. Meeting these goals will require that fresh water not continue to be treated as a free good or as the principal means for disposing of human and industrial wastes.”

“Sometimes I hear news about the huge dollars involved with CEO pay and corporate-management salaries, and I'm mystified at how someone can justify taking that much at the cost of other people's livelihoods. In a bizarre way, I'm almost kind of curious, like "How can they absolve themselves and enjoy their wealth?" I don't understand it.”

“The most important thing you can learn as CEO- one of the hardest things to do is, you have to discipline yourself to see your company... through the eyes of the people that you're working through. Through the eyes of the employees, through the eyes of your partners... through the eyes of the people who you're not talking to and who are not in the room.”

“The right thing to do is to thank them for their work, let people know that they're moving on, and ... you don't really have to explain all their personal details. It's more important to leave them with their dignity... and let them go on to live another day. Remember, what you say at that meeting, that's their reputation.”

“We scientists can argue forever about important topics like slightly different flavors of vanilla ice cream. Consider the silliness of this debate: one group of scientists found a 90% decline of big fish and criticized fishery management. Some other scientists found an 80% decline and started a big argument with the 90% people. Who cares if it's 80% or 90%? The real question is whether it's OK to let fishermen take most of the big fish out of our oceans.”

“Executives run organizations. In business, we need executives who have clarity, people who are in touch with themselves. Then, in leadership and management positions, they can be good role models and leaders. The people I know who have really moved their organizations are scrupulous role models. They are so clear about honesty, integrity, openness, mutual self-respect, dignity for the individual, and creativity, that they don't deviate from these principles at all in their behavior.”

“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.”

“The problem with most failing businesses is not that their owners don?t know enough about finance, marketing, management, and operations - they don?t, but those things are easy enough to learn - but that they spend their time and energy defending what they think they know. My experience has shown me that the people who are exceptionally good in business aren?t so because of what they know but because of their insatiable need to know more.”

“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.”

“It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.”

“Literature sort of makes your daily operation, your daily conduct, the management of your affairs in the society a bit more complex. And it puts what you do in perspective, and people don't like to see themselves or their activities in perspective. They don't feel quite comfortable with that. Nobody wants to acknowledge the insignificance of his life, and that is very often the net result of reading a poem.”