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Doing the right thing is more important than doing the thing right.
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
Business
Right
Important
Thing
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Time is the scarcest resource.
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In the managerial organization, the top people sit in judgment in the innovative organization it is their job to encourage ideas, no matter how unripe or crude.
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There is the general belief that the corporation income tax is a tax on the rich and on the fat cats. But with pension funds owning 30% of American large business-and soon to own 50%-the corporation income tax, in effect, eases the load on those in top income brackets and penalizes the beneficiaries of pension funds.
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If you're not living life on the edge, you're taking up too much space. The best way to predict the future is to create it.
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Nothing is less productive than to make more efficient what should not be done at all.
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To satisfy the customer is the mission and purpose of every business.
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When Henry Ford said, The customer can have a car in any color as long as it's black, he was not joking.
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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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There is an unbroken chain of opposition to the introduction of economic freedom and to the capitalist autonomy of the economic sphere... In every case the opposition could only be overcome - peacefully or by force - because of the promise of capitalism to establish equality... That this promise was an illusion we all know.
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Success? Odd as it seems, you will achieve the greates results in business and career if you drop the word 'achievement' from your vocabulary and replace it with 'contribution'.
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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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True marketing starts...with the customer, his demographics, his realities, his needs, his values. It does not ask, What do we want to sell? It asks, What does the customer want to buy?
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Understanding our strengths, articulating our values, knowing where we belong -- these are also essential to addressing one of the great challenges of organizations: improving the abysmally low productivity of knowledge workers.
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Everything must degenerate into work if anything is to happen.
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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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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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A primary task of management in the developed countries in the decades ahead will be to make knowledge productive.
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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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Vision without execution is delusion. The joy is in the results
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