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No one has ever failed to find the facts they are looking for.
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
Ever
Failed
Looking
Facts
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Working with people is difficult, but not impossible.
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Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
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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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Knowledge is power, which is why people who had it in the past often tried to make a secret of it. In post-capitalism, power comes from transmitting information to make it productive, not from hiding it.
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In the Western tradition, we have focused on teaching as a skill and forgotten what Socrates knew: teaching is a gift, learning is a skill.
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[T]hroughout the ages to be educated meant to be unproductive.... our word school - and its equivalent in all European languages - derives from a Greek word meaning leisure.
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Look upon every obstacle as part payment towards your success.
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The honest work of yesterday has lost its social status, its social esteem.
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You can't manage what you don't measure.
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Many studies of research scientists have shown that achievement (at least below the genius level of an Einstein, Bohr, or a Planck) depends less on ability in doing research than on the courage to go after opportunity.
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When the business grows, the person who founded it is incredibly busy. Rapid growth puts an enormous strain on a business. You outgrow your production facilities. You outgrow your management capabilities.
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Here I am, fifty-eight, and I still don't know what I'm going to be when I grow up.
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There are only two things in a business that make money - innovation and marketing, everything else is cost.
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Successful leaders don't start out asking, 'What do I want to do?' They ask, 'What needs to be done?' Then they ask, 'Of those things that would make a difference, which are right for me?'
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The correct assumption is that what individuals have learned by age twenty-one will begin to become obsolete five to ten years later and will have to be replaced-or at least refurbished-by new learning, new skills, new knowledge.
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The area in which the executive first encounters the challenge of strength is in staffing. The effective executive fills positions and promotes on the basis of what a man can do. He does not make staffing decisions to minimize weaknesses but to maximize strength.
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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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Now that knowledge is taking the place of capital as the driving force in organizations worldwide, it is all too easy to confuse data with knowledge and information technology with information.
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We've spent the last 30 years focusing on the T in IT, and we'll spend the next 30 years focusing on the I.
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Trust is congruence between what you say and what you do.
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