So let’s spend a minute explaining what capital allocation is and why it’s so important and why so few CEOs are really good at it. . . . CEOs need to do two things well to be successful: run their operations efficiently and deploy the cash generated by those operations. Most CEOs (and the management books they write or read) focus on managing operations, which is undeniably important. Singleton, in contrast, gave most of his attention to the latter task.
