All managers should be leaders, but most are administrators. If you are spending most of your time on budgets, organization charts, costs, compliance, and detail, you are an administrator. To become a leader, you need to spend more time with people, scanning opportunities, developing a vision, and setting goals.

 

 

 

The Internet offers radically new possibilities for conducting business
more efficiently. Just look at what you can do now that you couldn’t
have done (or done easily) before:

 

 

 

 

 

 

A company that masters only its domestic market will eventually lose
it. Strong foreign competitors will inevitably come in and challenge
your company. It is now business without borders.

 

 

 

The modern balance sheet is a lie! It omits the company’s most important
assets. Probably 80 percent of a company’s value lies in its intangible
assets; but they are not on the books. The value of a
company’s plant, equipment, inventory, and working capital hardly
reflects a true value of a company.

 

 

 

Firms face a dilemma. If they don’t innovate, they will die. And if they
do innovate—and their innovations are not successful—they may also
die. Given that only 20 percent of consumer packaged goods introductions
are successful and maybe 40 percent of new business-tobusiness
products are successful, the odds are discouraging.