"If your goal is anything but profitability - if it's to be big, or to grow fast, or to become a technology leader - you'll hit problems."

"The best CEOs I know are teachers, and at the core of what they teach is strategy."

"The ability to change constantly and effectively is made easier by high-level continuity."

"If all you're trying to do is essentially the same thing as your rivals, then it's unlikely that you'll be very successful."

"Change brings opportunities. On the other hand, change can be confusing."

"Billions are wasted on ineffective philanthropy. Philanthropy is decades behind business in applying rigorous thinking to the use of money."

"Strategy 101 is about choices: You can't be all things to all people."

"The essence of strategy is that you must set limits on what you're trying to accomplish."

"The essence of strategy is choosing what not to do."

"There's a fundamental distinction between strategy and operational effectiveness."

"Finally, strategy must have continuity. It can't be constantly reinvented."

"Strategy is about making choices, trade-offs; it's about deliberately choosing to be different."

"The chief strategist of an organization has to be the leader - the CEO."

"So companies have to be very schizophrenic. On one hand, they have to maintain continuity of strategy. But they also have to be good at continuously improving."

"The company without a strategy is willing to try anything."

"Innovation is the central issue in economic prosperity."

"Sound strategy starts with having the right goal."

"The thing is, continuity of strategic direction and continuous improvement in how you do things are absolutely consistent with each other. In fact, they're mutually reinforcing."

"A strategy delineates a territory in which a company seeks to be unique."

"The underlying principles of strategy are enduring, regardless of technology or the pace of change."

"Companies operating in urban communities have a tremendous ripple effect."