"There are advantages to being the chairman. One of my favorite perks was picking out an issue and doing what I called a "deep dive." It's spotting a challenge where you think you can make a difference—one that looks like it would be fun—and then throwing the weight of your position behind it. Some might justifiably call it "meddling." I've often done this—just about everywhere in the company."

“In manufacturing, we try to stamp out variance. With people, variance is everything.”

“Loyalty to a company, it's nonsense.”

“The best way to support dreams and stretch is to set apart small ideas with big potential, then give people positive role models and the resources to turn small projects into big businesses.”

“I enjoy challenging a person's ideas. No one loves a good and passionately fought argument more than I do. This isn't about being tough-minded and straightforward. That's the job. But so is sensing when to hug and when to kick. Of course, arrogant people who refuse to learn from their mistakes have to go. If we're managing good people who are clearly eating themselves up over an error, our job is to help them through it. That doesn't mean you have to take it easy on your top performers.”

“Change has no constituency—and a perceived revolution has even less.”

“Being a CEO is the nuts! A whole jumble of thoughts come to mind: Over the top. Wild. Fun. Outrageous. Crazy. Passion. Perpetual motion. The give-and-take. Meetings into the night. Incredible friendships. Fine wine. Celebrations. Great golf courses. Big decisions in the real game. Crises and pressure. Lots of swings. A few home runs. The thrill of winning. The pain of losing. It's as good as it gets! You get paid a lot, but the real payoff is in the fun.”