The New Machiavelli

"A leader must be trustworthy and what is more, be known to be trustworthy."

"The founders of businesses must carefully study their own ideas, and, as time goes on and their businesses grow, present these ideas to their employees in such a way that their ideas become a creed."

"In a successful business of any kind there is one ingredient which is vitally important, and that is discipline. In a family business, discipline is almost always missing."

"While trustees may well be lacking in their talent for management, they excel in their talent for preserving their jobs and the style of life that attends on those jobs."

"After savage action for reform of the new acquisition is implemented, it is imperative that the dignity of those who remain be assured."

"Once the true reason for the acquisition of an existing company is clear in the mind of the purchaser, the purchaser can then decide on the course of action that needs to be taken."

"The loyalty which an employer should be concerned with springs from shared beliefs and a community of interest."

"The correct posture for an employer is one of strict fairness."

"It is an important fact that the fate of the largest businesses lies in the hands of their most junior employee."

"The management of people is of vital importance when running a business, but a talent to manage people without the corresponding talent for managing money is useless."

"The motivation for economy in a corporation must only be efficiency, never conceit. Usually those companies where economy is the watchword are motivated by the conceit of those who run them."

"When you have developed a power structure in your business that seems to work, do not disrupt that structure by the use of consultants or temporary staff."

"Reputation is what other people believe, so never neglect to inform them of your successes and keep secret from them your failures."

"Businesses of several generations fail because they lose the desire to survive."