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Here I am, fifty-eight, and I still don't know what I'm going to be when I grow up.
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
Careers
Grow
Grows
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Fifty
Eight
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Elephants have a hard time adapting. Cockroaches outlive everything.
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The dilemma of modern society: the conflict between the need for capital formation at a high rate and the popular condemnation of interest and dividends as unearned income and capitalist, if not as sinful and wicked.
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Everything requires time. It is the only truly universal condition. All work takes place in time and uses up time. Yet most people take for granted this unique, irreplaceable, and necessary resource. Nothing else, perhaps, distinguishes effective executives as much as their tender loving care of time.
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A success that has outlived its usefulness may, in the end, be more damaging than failure.
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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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Use feedback analysis to identify your strengths. Then go to work on improving your strengths. Identify and eliminate bad habits that hinder the full development of your strengths. Figure out what you should do and do it. Finally, decide what you should not do.
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No one learns as much about a subject as one who is forced to teach it.
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Managing innovation will increasingly become a challenge to management, and especially to top management, and a touchstone of its competence.
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A manager's task is to make the strengths of people effective and their weakness irrelevant - and that applies fully as much to the manager's boss as it applies to the manager's subordinates.
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A business is not defined by its name, statutes, or articles of incorporation. It is defined by the business mission. Only a clear definition of the mission and purpose of the organization makes possible clear and realistic business objectives.
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The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.
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Don't solve problems. Pursue opportunities.
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Adequacy is the enemy of excellence.
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The most valuable assets of a 20th-century company were its production equipment. The most valuable assets of a 21st-century institution, whether business or nonbusiness, will be its knowledge, workers, and their productivity.
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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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The 1st question the effective decision-maker asks is: 'Is this a generic situation or an exception?'
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When the business grows, the person who founded it is incredibly busy. Rapid growth puts an enormous strain on a business. You outgrow your production facilities. You outgrow your management capabilities.
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Managers are the basic and scarcest resource of any business enterprise.
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The more successful the unit, the more difficult it is to make sure that the large company doesn't put the same expectations on it as it does for the rest of the company. When it's a new venture, whether it's outside or inside the business, it's a child. And you don't put a 40-pound pack on a 6-year-old's back when you take her hiking.
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