Smart people are everywhere - all over the world. Even in those corners and equal in numbers which are not termed "proper civilizations" by the western world. Then why some countries are so developed and the rest are lagging behind? Its not the number of smart people which matters but the ability of the state to find them and make use of them. Isn't the same in corporate world too? I have not seen a single company which is not run by some very smart people. Then why some fail and some succeed? What matters is how the resources are managed. It matters where do you place them. It matters how you retain them. It matters how you develop them. This is where some succeed and most fail. This is why Jack Welsch and his GE succeeded and www.someprettybadcompany.com failed.