Heard at PCMA

"Turbulence is inevitable, but misery is optional."

These are the words of former Southwest Airlines CEO Howard Putnam at PCMA's Annual Meeting yesterday. Putnam ought to know. His resume includes a stint at the failed Braniff Airlines and his insight includes years of working with Herb Kelleher, the irascible chairman of Southwest.

When someone in your association asks you why innovation is so important, tell them what Howard Putnam said. Southwest's critical insight that it was truly in the mass transportation business was an innovation that has made the company profitable for some 26 years and the dominant player in the airline industry.

What if you, your colleagues and your board could develop the kind of insight for your business. What could you create?