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Businesses are not paid to reform customers. They are paid to satisfy customers.
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
Satisfy
Businesses
Reform
Customers
Paid
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No executive has ever suffered because his subordinates were strong and effective.
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A success that has outlived its usefulness may, in the end, be more damaging than failure.
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Knowledge applied is productivity.
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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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A manager's task is to make the strengths of people effective and their weakness irrelevant - and that applies fully as much to the manager's boss as it applies to the manager's subordinates.
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The fewer data needed, the better the information. And an overload of information, that is, anything much beyond what is truly needed, leads to information blackout. It does not enrich, but impoverishes.
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Entrepreneurship is neither a science nor an art. It is a practice.
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Few companies that installed computers to reduce the employment of clerks have realized their expectations... They now need more, and more expensive clerks even though they call them 'operators' or 'programmers.'
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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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There's an enormous number of managers who have retired on the job.
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Marketing is the distinguishing, unique function of the business.
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Executives owe it to the organization and to their fellow workers not to tolerate nonperforming individuals in important jobs.
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Every single social and global issue of our day is a business opportunity in disguise.
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Executives do many things in addition to making decisions. But only executives make decisions. The first managerial skill is, therefore, the making of effective decisions.
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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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Every success creates new opportunities. So does every failure.
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The only industries that function well are the industries that take responsibility for training. The Japanese, you know, assume that when you first come to work you know absolutely nothing. School isn't preparation for work and never was.
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In a rural society communities are given for the individual. Community is a fact, whether family or religion, social class or caste.
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Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results all the rest are 'costs'.
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The essence of management is to make knowledge productive.
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