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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
Principles
Survive
Business
Economics
Firsts
Principle
First
Profit
Management
Rule
Waste
Avoidance
Loss
Guiding

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The world political system is till based on the concept of the national sovereign state. For the first time therefore, in three hundred years economy and sovereignty are becoming divorced from each other.
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