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— Jeffrey Pfeffer"Possibly the biggest issue, however, is that performance appraisals focus managers attention on precisely the wrong thing: individual people. As W. Edwards Deming, the father of the quality movement, taught a long time ago, company performance often results more from variations in systems than from the individuals doing the work."
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When a stock is selling at a discount to liquidation value per share, a near rock-bottom appraisal, it is frequently an attractive investment.
— Seth Klarman
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...when we are going through the aftereffects of a bad jolt in loss of money or pride--and both are closely connected--we should get off to ourselves, make an honest appraisal of our shortcomings, and try to find our weak spots and bolster them up before starting in again. First on the program we should figure out a plan to eat. The money we have lost is a small matter; if we can keep our pride and strong faith in ourselves the battle ahead is half won before we start.
— Sue Sanders
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