"It is important only to remember that the 'choice of goals and the formulation of policy cannot in any case be separate decisions."

“There is no way to divorce the decision determining the most sensible economic strategy from the personal values of those who make the choice.”

“The determination of strategy also requires consideration of what alternative is preferred by the chief executive and perhaps by his immediate associates as well, quite apart from economic considerations. Personal values, aspirations, and ideals do, and in our judgement quite properly should, influence the final choice of purposes. Thus, what the executives of the company want to do must be brought into the strategic decision.”

“Corporate strategy is the pattern of major objectives, purposes, or goals and essential policies and plans for achieving those goals stated in such a way as to define what business the company is in or is to be in and the kind of company it is or is to be. In a changing world it is a way of expressing a persistent concept of the business so as to exclude some possible new activities and suggest entry into others.”

“unevenly qualified by education and experience but uniformly burdened by the same kind of responsibility, is made elite not by inheritance or schooling; but by its assigned duties. Its members have responsibility for leading the organizations that develop material wealth in our society and thereby make possible all the other kinds of wealth that constitute our civilization and make life worthwhile.”

“We now move to what they ought to do — from the viewpoint of various leaders and segments of society and their own standards of right and wrong. Ethics, like preference, may be considered a product of values.”

“The Functions of the Executive remains today, as it has been since its publication, the most thought-provoking book on organization and management ever written by a practicing executive.”