Thursday, November 29, 2007

"Most problems revolve around people"

A memorable quote in today's Globe & Mail from financial giant Claude Lamoureux, who retires tomorrow as boss of the Ontario Teachers' Pension Plan.

The Globe's Gord Pitts says Lamoureux is "appalled" that would-be corporate leaders approach business as a narrow quantitative exercise, while ignoring the critical human element.

"Too many of them don't think that people are important," says Lamoureux. "They say, 'Let me learn analytical tools,' or 'Let me learn how to do present value and discounted cash flow and have all the buzz words,' when in fact, in business, most problems revolve around people."

A lesson most Canadian entrepreneurs - so often obsessed with their ideas, their products and their next sale - would do well to remember.

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