Five myths we've built up about management heroes are described and discussed:

The company with the smartest, most talented people wins. You don't need superstars to create a great management team.

Place employees into categories based on abilities, and get rid of the bottom tier. Sometimes employees aren't performing to the best of their ability because they are in the wrong place or they are not incentivized.

You must pay top dollar for top performers. Don't underestimate the power of loyalty. It is more important to have people feel socially committed to the company than financially, because there's always someone out there who will offer more money.

You need to go outside the company to hire the best talent. There is a downside to bringing in someone from outside, including time it takes to build trust and possible resentment from insiders.

There is fierce competition for a few talented individuals. There is no shortage of talent available, but there is a shortage of great companies to work for.