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We can say with certainty - or 90% probability - that the new industries that are about to be born will have nothing to do with information.

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
Born
Nothing
Industries
Probability
Certainty
Industry
Information
Economy

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Doing the right thing is more important than doing the thing right.
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As with every phenomenon of the objective universe, the first step toward understanding work is to analyze it.
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The purpose of information is not knowledge. It is being able to take the right action.
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Nothing is less productive than to make more efficient what should not be done at all.
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The only industries that function well are the industries that take responsibility for training. The Japanese, you know, assume that when you first come to work you know absolutely nothing. School isn't preparation for work and never was.
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There is the general belief that the corporation income tax is a tax on the rich and on the fat cats. But with pension funds owning 30% of American large business-and soon to own 50%-the corporation income tax, in effect, eases the load on those in top income brackets and penalizes the beneficiaries of pension funds.
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Planning is actually incompatible with an entrepreneurial society and economy. Planning is the kiss of death of entrepreneurship.
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When it rains manna from heaven, some people put up an umbrella. Others reach for a big spoon.
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Marketing is the distinguishing, unique function of the business.
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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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Every three or four years I pick a new subject. It may be Japanese art it may be economics. Three years of study are by no means enough to master a subject but they are enough to understand it. SO for more than 60 years I have kept studying one subject at a time.
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Fortunately or unfortunately, the one predictable thing in any organization is the crisis. That always comes. That's when you do depend on the leader: The job of the leader is to build an organization that is battle-ready, that has high morale, that knows how to behave, that trusts itself, and where people trust one another.
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Decision making is the specific executive task.
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Time is the scarcest resource and unless it is managed nothing else can be managed.
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There is every indication that the period ahead will be an innovative one, one of rapid change in technology , society , economy , and institutions .
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Organizationally what is required - and evolving - is systems management.
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Managers are the basic and scarcest resource of any business enterprise.
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For new technology to replace old, it has to have at least ten times the benefit.
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