Quote

Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results all the rest are 'costs'.

Peter Drucker

Change background

T
T
T

Change font

TAGS & TOPICS

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
Results
Marketing
Create
Customers
Purpose
Innovation
Business
Basic
Two
Function
Functions
Cost
Customer
Produce
Costs
Rest
Enterprise

More quotes by Peter Drucker

Image
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.
Peter Drucker
Image
The individual needs the return to spiritual values, for he can survive in the present human situation only by reaffirming that man is not just a biological and psychological being but also a spiritual being, that is creature, and existing for the purposes of his Creator and subject to Him.
Peter Drucker
Image
That people even in well paid jobs choose ever earlier retirement is a severe indictment of our organizations - not just business, but government service, the universities. These people don't find their jobs interesting.
Peter Drucker
Image
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.
Peter Drucker
Image
Adequacy is the enemy of excellence.
Peter Drucker
Image
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
Image
Working with people is difficult, but not impossible.
Peter Drucker
Image
There are no creeds in mathematics.
Peter Drucker
Image
What we need is an entrepreneurial society in which innovation and entrepreneurship are normal, steady and continuous.
Peter Drucker
Image
Any time I have seen someone accomplishing something magnificent, they have been a monomaniac with a mission. A single-minded individual with a passion.
Peter Drucker
Image
There is one qualification the manager cannot acquire but must bring to the task. It is not genius it is character.
Peter Drucker
Image
It’s up to you to carve out your place, to know when to change course, and to keep yourself engaged and productive during a work life that may span some 50 years.
Peter Drucker
Image
A fundamental responsibility of leadership is make sure that everybody knows the mission, understands it, lives it.
Peter Drucker
Image
The individual is the central, rarest, most precious capital resource of our society.
Peter Drucker
Image
Nobody can predict the future the idea is to have a firm grasp of the present.
Peter Drucker
Image
Marketing is not only much broader than selling, it is not a specialized activity at all. It encompasses the entire business. It is the whole business seen from the point of view of its final result, that is, from the customer's point of view.
Peter Drucker
Image
No financial man will ever understand business because financial people think a company makes money. A company makes shoes, and no financial man understands that. They think money is real. Shoes are real.
Peter Drucker
Image
Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
Peter Drucker
Image
Checking the results of a decision against its expectations shows executives what their strengths are, where they need to improve, and where they lack knowledge or information.
Peter Drucker
Image
The purpose of a business is to create a customer.
Peter Drucker