"Be in high-growth markets." In the old economic order, in the age of market share, volume growth was a guarantor of success. Growth was what we were taught to pursue. It created higher profits for all, including market share laggards, companies with poor business designs, and companies that were poorly managed. A rising tide raised all boats. One manager articulated the classic view: "There are no management problems that volume growth can't solve. Even if we manage poorly, rising revenue helps cover the mistakes we made."

“The new rules of competition require managers to start by asking what's important to their customers and where the company can make new money. Then, they need to reinvent their businesses to create the next profit zones.”

“Twenty years ago, the business world was taken by surprise when the work pyramid was up-ended. Suddenly customers were on top and a flattened corporate hierarchy made front-line workers responsible for understanding and satisfying the customer’s every whim. Today, we’re poised for the natural sequel to that revolution. It’s time to focus on keeping workers satisfied — or at least engaged in their work.”

“The number one problem in business today is profitability. Where will you be allowed to make a profit in your industry? Where is the profit zone today? Where will it be tomorrow?”

“Market share was the grand old metric, the guiding light, the compass of the product-centric age. Companies focused on improving their product and building economies of scale. This product-centric thinking led to the battle cry: "Get more market share and the profit will follow.”

“The fact is that middle managers have an effective veto power over whatever risk management system is created. If they don't buy it, it won't happen.”

“The profit zone is the area of your economic neighborhood where you are allowed to earn a profit. To reach and operate in the profit zone is the goal of every company.”