Americans make money by playing `money games,' namely mergers, acquisitions, by simply moving money back and forth ... instead of creating and producing goods with some actual value.
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.
There are three creativities: creativity in technology, in product planning, and in marketing. To have any one of these without the others is self defeating in business.
We all learn by imitating, as children, as students, as novices in the world of business. And then we grow up and learn to blend our innate abilities with the rules or principles we have learned.
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.
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.