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If you want it, measure it. If you can't measure it, forget it.

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
Measure
Leadership
Forget

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Decision making is the specific executive task.
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Nothing is less productive than to make more efficient what should not be done at all.
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Profit is not a cause but a result-
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Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service.
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The concept of profit maximization is, in fact, meaningless.
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All companies are service companies some also manufacture products.
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Efficiency, which is doing things right, is irrelevant until you work on the right things.
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Knowledge has become the key economic resource and the dominant-and perhaps even the only-source of competitive advantage.
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The final test of greatness in a CEO is how well he chooses a successor and whether he can step aside and let the successor run the company.
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As a manager you're paid to be uncomfortable. If you're comfortable, it's a sure sign you're doing things wrong.
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The corporation is the master, the employee is the servant. Because the corporation owns the means of production without which the employee could not make a living, the employee needs the corporation more than vice versa.
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In the modern corporation the decisive power, that of the managers , is derived from no one but the managers themselves controlled by nobody and nothing and responsible to no one. It is in the most literal sense unfounded, unjustified, uncontrolled and irresponsible power.
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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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Salvation by society failed the most where it promised the most, in the communist countries. But it also failed in the West. Practically no government program enacted since the 1950s in the Western world - or in the communist countries - has been successful.
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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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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.
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Any time I have seen someone accomplishing something magnificent, they have been a monomaniac with a mission. A single-minded individual with a passion.
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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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The only things that evolve by themselves in an organization are disorder, friction and malperformance.
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There are companies that are good at improving what they're already doing. There are companies that are good at extending what they're doing. And finally there are companies that are good at innovation. Every large company has to be able to do all three - improve, extend, and innovate - simultaneously.
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