Molson Hart

1. “When the product is right, you don’t have to be a great marketer.” 2. Self directed quarterly reviews for managers where they set goal for next quarter and review past quarter 3. Work hard, but take weekends off 4. Resiliency/grit key to his repeated success 2/4

5. Writing is critical - you can be sold in conversation but ideas should be written down in a memo to be clear and to be able to reference back when it succeeds or fails 6. Decisiveness most critical trait of a manager 7. You can cut 5% of costs out of anything 3/4

8. Financial/management controls are critical to understanding complex businesses 9. “In the end, all business operations can be reduced to three words: people, product, and profits. People come first. Unless you’ve got a good team, you can’t do much with the other two.” 4/4

Re: 2, did Iacocca explain in detail how they worked? Something like this? 1. Employee sets goal 2. Boss approves goal 3. Quarterly, employee gives a report during a meeting about whether or not they achieved that

Yes, you meet and discuss, then the manager (employee) writes down the goals, and the supervisor signs off on them.