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214647

Book of Business

Quotations

Edited by Bill Ridgers

Economist Business Quotations.indd 302/05/2012 10:20

THE ECONOMIST IN ASSOCIATION WITH

PROFILE BOOKS LTD

Published by Profile Books Ltd

Exmouth House, Pine Street, London

ec1r 0jh www.profilebooks.com

Copyright © The Economist Newspaper Ltd, 2012

All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright owner and the publisher of this book. The greatest care has been taken in compiling this book. However, no responsibility can be accepted by the publishers or compilers for the accuracy of the information presented. Where opinion is expressed it is that of the author and does not necessarily coincide with the editorial views of The Economist

Newspaper.

While every effort has been made to contact copyright-holders of material produced or cited in this book, in the case of those it has not been possible to contact successfully, the author and publishers will be glad to make amendments in further editions.

Designed by sue@lambledesign.demon.co.uk

Typeset in EcoType by MacGuru Ltd

info@macguru.org.uk Printed in Great Britain by Clays, Bungay, Suffolk A CIP catalogue record for this book is available from the British Library

Hardback ISBN: 978 1 84668 593 4

Ebook ISBN: 978 1 84765 817 3

SGS-COC-2061

The paper this book is printed on is certified by the © 1996 Forest Stewardship Council A.C. (FSC). It is ancient-forest friendly. The printer holds FSC chain of custody SGS-COC-2061 Economist Business Quotations.indd 402/05/2012 10:20

About this book / xii

Introduction / xiii

Accountants and accountancy / 1

Advertising / 3

Advice / 6

Agriculture business / 9

The airline industry / 9

Ambition / 10

America / 12

Appraisals / 14

The arts / 15

B Banks and bankers / 18Bills / 20The board / 21The boss / 22Branding / 23

Bureaucracy / 24

Business education / 26

Business entertaining / 27

Business travel / 28

Economist Business Quotations.indd 502/05/2012 10:20 vi Contents C

Capitalism / 29

The car industry / 32

Change / 33

Civility / 36

Joking aside: five quotes from comedians / 37

Committees / 38

Communication / 38

Communism and socialism / 39

Competition / 40

Complacency / 43

Conferences / 43

Conflict and the arms industry / 44

Consultants and consulting / 45

Consumerism / 46

Corporations / 49

Costs / 50

Creativity / 51

Credit / 54

Crime / 55

Culture / 55

Customers and customer service / 56

Cynicism / 60

D Data, information and statistics / 61Debt / 63Decision-making / 64Delegation / 66Design / 66

Development / 67

Discipline / 68

Economist Business Quotations.indd 602/05/2012 10:20

Contents vii

Dishonesty / 68

Diversity / 69

Downturns and economic turmoil / 70

The drugs industry / 70

E Economics / 72In brief: five epigrams / 74 Education / 76Egotism / 76Emerging markets / 77

Entrepreneurs and entrepreneurialism / 77

The environment / 80

Envy and jealousy / 81

Ethics / 82

Europe / 85

Experience / 86

Expertise / 87

F Failure / 89Showing character: five quotes from film and TV / 91

Family business / 92

The film industry / 93

Financial crises / 93

Following the herd / 94

Foot-in-mouth and blunt honesty / 95

Friendship / 96

Fulfilment / 97

Fun / 97

Economist Business Quotations.indd 702/05/2012 10:20 viii Contents G

Gambling / 99

Globalisation / 99

Greed / 101

Growth / 102

H Happiness / 104Hard work / 105Hiring / 108Honesty / 109Hubris / 111 I Innovation / 112Insurance / 118The internet / 118Intuition / 119Investing / 120 K

Knowledge / 124Knowledge workers / 125

Labour / 127Novel thoughts: five quotes from

literature / 130

Lawyers and the law / 131

Laziness / 133

Leadership / 135

Luck / 138

Economist Business Quotations.indd 802/05/2012 10:20

Contents ix

Management speak and jargon / 140

Management thinking / 142

Managers and management / 142

Words from the wise: five quotes from

management gurus / 143

Manufacturing / 147

Market research / 147

Marketing / 148

Markets / 151

The media / 152

Meetings / 154

Mergers, demergers and acquisitions / 155

Money / 156

Motivation / 159

The music industry / 160

Negotiation and dealmaking / 162

Obsession / 163Obstacles / 163Office life / 164The oil and gas industry / 166 The oldest profession / 168

Operations / 169

Optimism / 170

P Performance / 171Philanthropy / 171Philosophy / 172 Economist Business Quotations.indd 902/05/2012 10:20 x Contents