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(Waste = Loss): The first rule of business is to survive and the guiding principle of business economics is not the maximisation of profit, it is the avoidance of loss
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
First
Profit
Management
Rule
Waste
Avoidance
Loss
Guiding
Principles
Survive
Business
Economics
Firsts
Principle
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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.
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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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The only things that evolve by themselves in an organization are disorder, friction and malperformance.
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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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Innovation requires us to systematically identify changes that have already occurred in a business - in demographics, in values, in technology or science - and then to look at them as opportunities. It also requires something that is most difficult for existing companies to do: to abandon rather than defend yesterday.
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