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To arrive at the definition of the problem he must begin by finding the 'critical factor'. This is the element (or elements) in the situation that has to be changed before anything else can be changed, moved, acted upon.
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
Must
Begin
Factor
Changed
Element
Situation
Definition
Upon
Factors
Else
Finding
Change
Critical
Problem
Moved
Acted
Anything
Elements
Arrive
More quotes by Peter Drucker
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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Growth that adds volume without improving productivity is fat. Growth that diminishes productivity is cancer.
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Success? Odd as it seems, you will achieve the greates results in business and career if you drop the word 'achievement' from your vocabulary and replace it with 'contribution'.
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What is the major problem? It is fundamentally the confusion between effectiveness and efficiency that stands between doing the right things and doing things right. There is surely nothing quite so useless as doing with great efficiency what should not be done at all.
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The basic economic resource - the means of production - is no longer capital, nor natural resources, nor labor. It is and will be knowledge.
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If socialism is defined as ownership of the means of production--and this is both the orthodox and the only rigorous definition--then the United States is the first truly Socialist country.
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The only thing we know about the future is that it will be different.
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The concept of profit maximization is, in fact, meaningless.
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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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We have tried to substitute mass for purpose. We have tried to regain military potency of defense by making it gigantic, unwieldy, complex. It never works.
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