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The basic economic resource - the means of production - is no longer capital, nor natural resources, nor labor. It is and will be knowledge.
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
Mean
Labor
Resources
Longer
Learning
Resource
Economic
Capital
Knowledge
Production
Natural
Productions
Means
Basic
More quotes by Peter Drucker
If you have too many problems, maybe you should get out of business. There is no law that says a company must last forever.
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Change is the norm unless an organization sees that its task is to lead change, that organization will not survive.
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The area in which the executive first encounters the challenge of strength is in staffing. The effective executive fills positions and promotes on the basis of what a man can do. He does not make staffing decisions to minimize weaknesses but to maximize strength.
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Every few hundred years in Western history there occurs a sharp transformation. Within a few short decades, society - its worldview, its basic values, its social and political structures, its art, its key institutions - rearranges itself. We are currently living through such a time.
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Effective people are not problem minded they're opportunity-minded. They feed opportunities and starve problems. They think preventively.
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That the government's power under the Taft-Hartley Act to stop a strike by injunction so clearly strengthens the hand of the employer-even though it is used only when a strike threatens the national health, welfare, or safety-is a grave blemish and explains much of union resistance to the Act.
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A primary task of management in the developed countries in the decades ahead will be to make knowledge productive.
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Of those things that would make a difference, which are right for me?
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In the Western tradition, we have focused on teaching as a skill and forgotten what Socrates knew: teaching is a gift, learning is a skill.
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Knowledge has to be improved, challenged, and increased constantly, or it vanishes.
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If the feudal knight was the clearest embodiment of society in the early Middle Ages, and the bourgeois under Capitalism, the educated person will represent society in the post-capitalist society in which knowledge has become the central resource.
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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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An established company which, in an age demanding innovation, is not able to innovation, is doomed to decline and extinction.
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Businesses are not paid to reform customers. They are paid to satisfy customers.
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During periods of discontinuous, abrupt change, the essence of adaptation involves a keen sensitivity to what should be abandoned - not what should be changed or introduced. A willingness to depart from the familiar has distinct survival value.
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Systematic change requires a willingness to look on change as an opportunity.
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The best plan is only a plan... unless it degerates into work.
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Executives owe it to the organization and to their fellow workers not to tolerate nonperforming individuals in important jobs.
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There's nothing so useless than executing a task efficiently when it actually never should have been executed at all.
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A fundamental responsibility of leadership is make sure that everybody knows the mission, understands it, lives it.
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