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Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

Peter Drucker

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Peter Drucker
Age: 95 †
Born: 1909
Born: November 19
Died: 2005
Died: November 11
Author
Businessperson
Columnist
Economist
Journalist
Lawyer
Philosopher
Sculptor
University Teacher
Writer
Vienna
Austria
Peter F. Drucker
Peter Ferdinand Drucker
Resources
Endows
Capacity
Entrepreneurship
Growth
Innovative
Wealth
Instrument
Wise
Specific
Create
Entrepreneur
Inspirational
Innovation
Instruments

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We do not need more laws . No country suffers from a shortage of laws. We need a new model .
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You can either take action, or you can hang back and hope for a miracle. Miracles are great, but they are so unpredictable.
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Company cultures are like country cultures. Never try to change one. Try, instead, to work with what you've got.
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Successful people know they need to get many things done-and done effectively. Therefore, they concentrate their time and energy on doing one thing at a time-and on doing first things firs.
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It has been said, and only half in jest, that a tough, professionally led union is a great force for improving management performance. It forces the manager to think about what he is doing and to be able to explain his actions and behavior.
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The productivity of work is not the responsibility of the worker but of the manager.
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Most of what we call management consists of making it difficult for people to get their work done.
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Everybody has accepted by now that change is unavoidable. But that still implies that change is like death and taxes - it should be postponed as long as possible and no change would be vastly preferable. But in a period of upheaval, such as the one we are living in, change is the norm.
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Many studies of research scientists have shown that achievement (at least below the genius level of an Einstein, Bohr, or a Planck) depends less on ability in doing research than on the courage to go after opportunity.
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The days of the 'intuitive' manager are numbered.
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There are no creeds in mathematics.
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The 1st question the effective decision-maker asks is: 'Is this a generic situation or an exception?'
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The corporation is the master, the employee is the servant. Because the corporation owns the means of production without which the employee could not make a living, the employee needs the corporation more than vice versa.
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In todays economy, the most important resource is no longer labor, capital or land it is knowledge
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