Tom Tierney [Archive.org URL]

The three things you need to make money are the right strategy, the right people and the right behavior. Strategy matters most when there is turmoil but it is only about 10 per cent of the answer because implementing strategy is so challenging. People and behavior are 90 per cent of the equation.

Culture and leadership are hard to copy. There’s no such thing as sustainable competitive advantage but a unique culture can offer a powerful competitive advantage.

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