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The true business of every company is to make and keep customers.

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
Make
Customers
Company
Business
Keep
True
Every

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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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A fundamental responsibility of leadership is make sure that everybody knows the mission, understands it, lives it.
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If you want to predict the future create it.
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Too many leaders try to do a little bit of 25 things and get nothing done. They are very popular because they always say yes. But they get nothing done.
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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.
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If a manager spends more than 10 percent of his time on human relations the group is probably too large.
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What people in business think they know about the customer and market is likely to be more wrong than right...the customer rarely buys what the business thinks it sells him.
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Look at government programs for the past fifty years. Every single one - except warfare - achieved the exact opposite of its announced goal.
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Time is the scarcest resource.
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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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When it rains manna from heaven, some people put up an umbrella. Others reach for a big spoon.
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Effective organizations put people in jobs in which they can do the most good. They place people -- and allow people to place themselves -- according to their strengths.
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Managers are the basic and scarcest resource of any business enterprise.
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Absolute size by itself is no indicator of success and achievement, let alone of managerial competence. Being the right size is.
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Entrepreneurship is neither a science nor an art. It is a practice.
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Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.
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If socialism is defined as ownership of the means of production--and this is both the orthodox and the only rigorous definition--then the United States is the first truly Socialist country.
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Teaching 23-year-olds in an MBA programme strikes me as largely a waste of time. They lack the background of experience. You can teach them skills - accounting and what have you - but you can't teach them management.
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We can ill afford to have activities conducted as non-profit, that is, as activities that devour capital rather than form it, if they can be organized as activities that form capital, as activities that make a profit.
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Capitalism is being attacked not because it is inefficient or misgoverned but because it is cynical. And indeed a society based on the assertion that private vices become public benefits cannot endure, no matter how impeccable its logic, no matter how great its benefits.
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