In 1979, Howard Putnam, CEO of Southwest Airlines, faced an extremely difficult decision—how should he run the company in a newly deregulated market.  

Other airlines were scrambling to come up with new business models. But Putnam determined that the effects of deregulation, while significant, would not call for a radical change to Southwest’s business model. 

So instead of proposing change, Putnam listed Southwest’s “recipe” for growth.