The first myth of management is that it exists. The second myth of management is that success equals skill.

Effective management always means asking the right question.

Think before you act: it's not your money.

Managers are to information as alcoholics are to booze. They consume enormous amounts, constantly crave more, but have great difficulty in digesting their existing intake.

If you are attempting the impossible, you will fail.

No decision in business provides greater potential for the creation of wealth (or its destruction, come to think of it) than the choice of which innovation to back.

If you are doing something wrong, you will do it badly.

The first myth of management is that it exists.

If sophisticated calculations are needed to justify an action, don't do it.

Never ignore a gut feeling, but never believe that it's enough.

Most people don't manage to the utmost of their ability because they don't want to.

Either an executive can do his job or he can't.

In getting good results team leaders become conductor rather than driver, enabling others to play the right music, not by hands-on domination of all decisions and execution, but by providing inspiration, motivation and stimulus.

Cash in must exceed cash out.

Management is a far more homely business than its would be scientists suggest, more closely allied to cookery than any other human activity. Like cooking, it rests on a degree of organisation and on adequate resources. But just as no two chefs run their kitchens the same way, so no two managements are the same.