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In todays economy, the most important resource is no longer labor, capital or land it is knowledge

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
Economy
Knowledge
Todays
Today
Resource
Important
Capital
Labor
Resources
Longer
Land

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We no longer even understand the question whether change is by itself good or bad, ...We start out with the axiom that it is the norm. We do not see change as altering the order... We see change as being order itself - indeed the only order we can comprehend today is a dynamic, a moving, a changing one.
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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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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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Elephants have a hard time adapting. Cockroaches outlive everything.
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There is every indication that the period ahead will be an innovative one, one of rapid change in technology , society , economy , and institutions .
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During periods of discontinuous, abrupt change, the essence of adaptation involves a keen sensitivity to what should be abandoned - not what should be changed or introduced. A willingness to depart from the familiar has distinct survival value.
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Leadership is not rank, privileges, title or money. It is responsibility.
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Follow effective action with quiet reflection. From the quiet reflection will come even more effective action.
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Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.
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The best way to predict the future is to create it.
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Management is not being brilliant. Management is being conscientious.
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Spontaneity is an infinite number of rehearsed possibilities.
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You cannot prevent a major catastrophe, but you can build an organization that is battle-ready, where people trust one another. In military training, the first rule is to instill soldiers with trust in their officers - because without trust, they won't fight.
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No one has ever failed to find the facts they are looking for.
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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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If you have too many problems, maybe you should get out of business. There is no law that says a company must last forever.
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To make a living is no longer enough. Work also has to make a life.
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Time is the scarcest resource and unless it is managed nothing else can be managed.
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That the government's power under the Taft-Hartley Act to stop a strike by injunction so clearly strengthens the hand of the employer-even though it is used only when a strike threatens the national health, welfare, or safety-is a grave blemish and explains much of union resistance to the Act.
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The most valuable assets of a 20th-century company were its production equipment. The most valuable assets of a 21st-century institution, whether business or nonbusiness, will be its knowledge, workers, and their productivity.
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