A Quote by William Morris
There is no single policy to which one can point and say - this built the Morris business. I should think I must have made not less than one thousand decisions in each of the last ten years. The success of a business is the result of the proportion of right decisions by the executive in charge.
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A hundred years ago-even 20 or 30 years ago-it was possible, if not always easy, to close major business by calling on and satisfying a key decision-maker. Today, every piece of business entails multiple decisions, and those decisions are virtually never made by the same person. Not only do you have to contend with multiple decisions, but the people who make those decisions may not even work in the same place.
If we want people on the front lines of companies to be responsible for making good business decisions, they must have the same information that managers use to make good business decisions.
I definitely think it's important for a CEO of any large corporation to understand how policy impacts their business and be aware of the decisions being made in Congress.
I've got to let the people who are in the business run the business. I can help them think through their decisions about products, about partners, about hiring. But in the end, the decisions are theirs, and so is the responsibility.
I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
Putting somebody else in crisis mode and causing them to make quicker decisions, urgent decisions, rather than prolonged, more logical decisions can be very advantageous. So, to be successful in business, you have to understand the power of confrontation and how to use it correctly.
In sports and in business, the greatest leaders are those who make the best decisions in the most crucial of situations. They are the ones who focus their energy on turning tough decisions into winning decisions.
Realism in foreign policy is made up of a clear set of values, since difficult foreign policy decisions are often decided with the narrowest of majorities. Without any sense of what is right and wrong, one would drown in a flood of difficult and pragmatic decisions.
I've also built my own business, and obviously it's a brand that I've built and it's wholly owned by me and something that certainly my experience observing him and working with him and for him has informed how I make business decisions around my brand. But it's my company.
The goal isn't just to make transactions: it's to make better decisions in the way you run your business. If that's not at the top of every executive's priorities, then they shouldn't be an executive.
In their zeal for particular kinds of decisions to be made, those with the vision of the anointed seldom consider the nature of the: process: by which decisions are made. Often what they propose amounts to third-party decision making by people who pay no cost for being wrong-surely one of the least promising ways of reaching decisions satisfactory to those who must live with the consequences.
Nonsensical decisions are made all the time in football and then really sensible decisions are made all the time. It really is the maddest business but everyone knows that. We all love it.
Indecision is debilitating; it feeds upon itself; it is, one might almost say, habit-forming. Not only that, but it is contagious; it transmits itself to others. . . . Business is dependent upon action. It cannot go forward by hesitation. Those in executive positions must fortify themselves with facts and accept responsibility for decisions based upon them. Often greater risk is involved in postponement than in making a wrong decision.
There is no business like show business, Irving Berlin once proclaimed, and thirty years ago he may have been right, but not anymore. Nowadays almost every business is like show business, including politics, which has become more like show business than show business is.
Most people define "street smarts" as some innate ability to make savvy decisions, or one that has developed as a result of a person being confronted with very challenging circumstances in the past. I think another common term that is used is one who has amazing "business acumen." But, whatever we call it, it is always associated with some mysterious ability, only a few possess, that allow them to make better decisions than the rest of us.
To become a chess grandmaster also seems to take about ten years. (Only the legendary Bobby Fisher got to that elite level in less than that amount of time: it took him nine years.) And what's ten years? Well, it's roughly how long it takes to put in ten thousand hours of hard practice. Ten thousand hours is the magic number of greatness.
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