I look for people who work to solve problems and help colleagues. I sack politicians… Solve problems laterally; don’t keep bringing them up the line.

This is part of my management philosophy. Executives should know they don’t accumulate wealth unless the long-term shareholders do the same.

Some executives were beginning to exhibit the sort of personal leadership and commitment to change that I sought.

I needed, though, to provide support and encouragement for these risk takers. They were still surrounded by a lot of Bolsheviks who longed for the old system.

There are fundamentals that characterize successful enterprises and successful executives.

• They are focused.

• They are superb at execution.

• They abound with personal leadership.

Perhaps the greatest mistake I’ve seen executives make is to confuse expectations with inspection.