Quote

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.

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
Productions
Workers
Valuable
Institutions
Productivity
Century
Institution
Company
Equipment
Knowledge
Assets
Whether
Production

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Management is not being brilliant. Management is being conscientious.
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Teaching 23-year-olds in an MBA programme strikes me as largely a waste of time. They lack the background of experience. You can teach them skills - accounting and what have you - but you can't teach them management.
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The single minded ones, the monomaniacs, are the only true achievers
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Strong people have strong weaknesses.
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Plans are worthless, but planning is invaluable.
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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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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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The company is not and must never claim to be home, family, religion, life or fate for the individual. It must never interfere in his private life or his citizenship. He is tied to the company through a voluntary and cancellable employment contract, not through some mystical or indissoluble bond.
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Of those things that would make a difference, which are right for me?
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It’s up to you to carve out your place, to know when to change course, and to keep yourself engaged and productive during a work life that may span some 50 years.
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