Getting the right people in the right jobs is a lot more important than developing a strategy. — Jack Welch

I enjoy challenging a person's ideas. No one loves a good and passionately fought argument more than I do. This isn't about being tough-minded and straightforward. That's the job. But so is sensing when to hug and when to kick. Of course, arrogant people who refuse to learn from their mistakes have to go. If we're managing good people who are clearly eating themselves up over an error, our job is to help them through it. That doesn't mean you have to take it easy on your top performers.

In manufacturing, we try to stamp out variance. With people, variance is everything.

There are advantages to being the chairman. One of my favorite perks was picking out an issue and doing what I called a "deep dive." It's spotting a challenge where you think you can make a difference—one that looks like it would be fun—and then throwing the weight of your position behind it. Some might justifiably call it "meddling." I've often done this—just about everywhere in the company.