I teach in the medical school, the School of Public Health, the Kennedy School of Government, and the Business School. And it's the best perch... because most of my work crosses boundaries.
The best CEOs I know are teachers, and at the core of what they teach is strategy.
I think that, too many times, business has been seen as acting in its narrow self-interest rather than, essentially, contributing more broadly to society. I think a lot of that is unintentional; I don't think that many managers are deliberately trying to be unethical or are not trying to be sensitive to social needs.
As minorities and other immigrant groups become more important to our economy, the inner city is a crucible that gives us an early look at phenomena that are going to be spreading more broadly in the economy over time.
Technology has given us this wonderful opportunity to have low energy costs. We have to seize that, rather than keep debating and discussing and fighting over it.
In America, the problems of poverty and low income, particularly for minorities, are disproportionately focused in the inner cities. Shining a spotlight on the businesses growing in these communities is proof that any community has the potential for entrepreneurship.
In a period of economic downturn, the overwhelming instinct is to pare back, cut costs, and lay off. If you do that, do so with your strategy in mind. The worst mistake is to cut across the board. Instead, reconnect and recommit to a clear strategy that will distinguish yourself from others.
Innovation is the central issue in economic prosperity.
There's a fundamental distinction between strategy and operational effectiveness.
You can't have a healthy society unless you have healthy companies that are making a profit, that are employing people and that are growing.
Unfortunately, I'm an engineer. I'm always thinking about, what's the task and how do I get it done? And some of my tasks are pretty broad, and pretty fuzzy, and pretty funky, but that's the way I think.
Billions are wasted on ineffective philanthropy. Philanthropy is decades behind business in applying rigorous thinking to the use of money.
America used to be a uniquely productive, low-cost place to do business. We had efficient infrastructure. We had limited regulation. We believed in the market.
Being an American doesn't mean that you're guaranteed a high wage. You have to be productive, and we have to create a very low-cost, efficient place to do business, and we've let all that slip in America.
Millennials are more aware of society's many challenges than previous generations and less willing to accept maximizing shareholder value as a sufficient goal for their work. They are looking for a broader social purpose and want to work somewhere that has such a purpose.
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.
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.
I'm really puzzled by why people in societies find it difficult to work collaboratively together with other people in societies.
Finally, strategy must have continuity. It can't be constantly reinvented.
Companies operating in urban communities have a tremendous ripple effect.
