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Success in the knowledge economy comes to those who know themselves - their strengths, their values, and how they best perform.
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
Knowledge
Values
Success
Comes
Best
Strengths
Perform
Economy
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People who need certainty are unlikely to make good entrepreneurs.
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Business exists to supply goods and services to customers and economic surplus to society, rather than to supply jobs to workers and managers or even dividends to shareholders.
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It takes far less energy to move from first-rate performance to excellence than it does to move from incompetence to mediocrity.
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You can't manage knowledge.Knowledge is between two ears and only between two ears.
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Tomorrow always arrives. It is always different. And even the mightiest company is in trouble if it has not worked on the future. Being surprised by what happens is a risk that even the largest and richest company cannot afford, and even the smallest business need not run.
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When it rains manna from heaven, some people put up an umbrella. Others reach for a big spoon.
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Decisions of the kind the executive has to make are not made well by acclamation. They are made well only if based on the clash of conflicting views...The first rule in decision-making is that one does not make a decision unless there is disagreement.
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Adversarial power relationships only work if you never have to see or work with the bastards again.
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Defending yesterday is far more risky than making tomorrow.
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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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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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To satisfy the customer is the mission and purpose of every business.
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It is commonly believed that innovations create changes - but few ever do. Successful innovations exploit changes that have already happened.
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The better a man is the more mistakes will he make – for the more new things he will try.
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Checking the results of a decision against its expectations shows executives what their strengths are, where they need to improve, and where they lack knowledge or information.
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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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The Welfare State, which begun in Imperial Germany for the truly indigent and disabled, has now become everybody's entitlement and an increasing burden on those who produce.
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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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There's an enormous number of managers who have retired on the job.
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The new information technology... Internet and e-mail... have practically eliminated the physical costs of communications.
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