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Obviously I've got a great team of people within the company. You can't operate all by yourself. We have a good board of directors and a big bench, and they can make decisions if I'm not around.

It makes common sense to be managed by results and it's freeing to know you are in control of your own destiny. I'm so passionate about this because I have seen how merit-based judgment has helped create individual successes and yield a better system for everyone.

No manager in the world gets good results all the time and you know there's people always ready to have a snipe. In fact I'm my own biggest critic, I really am. Because my own standards are so high, I criticise myself behind the scenes more than perhaps I should, according to people who know me well.

It's the combination: big idea with a good entrepreneur: there's nothing more powerful.

I don't like prolonged, highly expensive commissions, especially if they are chaired by judges. We seem to have overwhelming faith in judges.

You need a great idea, but then you've got to carry it through. If you get it right, you're going to be a critical success. But not everyone who works hard gets it right, or has the success they deserve: there's an element of luck.

I think having a great idea is vastly overrated. I know it sounds kind of crazy and counterintuitive. I don't think it matters what the idea is, almost. You need great execution.

Your time as a manager is finite and valuable.

You can have the best people in the business, but if they're not collaborating - and they're butting heads - then it's all going to go south.

Power says if you are a committee chairman, your idea is good only because you have got power.