Jack Welch Tells it Like it is.

Great read on how to manage a business here.

My favorite except:

More controversially--leading to attacks on him as "cruel and Darwinian"--he urges you to shower the top 20 per cent of performers with bonuses, stock options, praise, love and training; work hard on providing training, positive feedback and goal-setting with the middle 70 per cent to ensure they improve--and encourage the bottom 10 per cent to find more suitable work elsewhere.

Noting that's what successful sports franchises do, he insists business must follow the same approach to excel. He also insists that it's a fair, rather than cruel, approach, since it treats the bottom performers honestly, helping them to adjust their careers with your assistance in good times rather than have them face Draconian actions when bad times strike and staff is frantically jettisoned.

Makes sense.