In the long run, no matter how good or successful you are or how clever or crafty, your business and its future are in the hands of the people you hire.
If we face recession, we should not lay off employees; the company should sacrifice a profit. It's management's risk and management's responsibility. Employees are not guilty; why should they suffer?
The remarkable thing about management is that a manager can go on for years making mistakes that nobody is aware of, which means that management can be a kind of a con job.
(Japanese Government believes that if you have a big laboratory with all the latest equipment and good funding it will automatically lead to creativity. It doesn't work that way.
The "patron saint" of Japanese quality control, ironically, is an American named W. Edwards Deming, who was virtually unknown in his own country until his ideas of quality control began to make such a big impact on Japanese companies.
Management of an industrial company must be giving targets to the engineers constantly; that may be the most important job management has in dealing with its engineers.
In the United States businessmen often do not trust their colleagues. If you trust your colleague today, he may be your competitor tomorrow, because people frequently move from one company to another.