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The concept of profit maximization is, in fact, meaningless.
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
Facts
Maximization
Meaningless
Concept
Profit
Concepts
Fact
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To make knowledge productive, we will have to learn to see both forest and tree. We will have to learn to connect.
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Objectives are not commands they are commitments.
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We have only one alternative: either to build a functioning industrial society or see freedom itself disappear in anarchy and tyranny.
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That people even in well paid jobs choose ever earlier retirement is a severe indictment of our organizations - not just business, but government service, the universities. These people don't find their jobs interesting.
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Concentration is the key to economic results. No other principle of effectiveness is violated as constantly today as the basic principle of concentration.... Our motto seems to be, Let's do a little bit of everything.
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The talk you hear about adapting to change is not only stupid, it's dangerous. The only way you can manage change is to create it.
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Fortunately or unfortunately, the one predictable thing in any organization is the crisis. That always comes. That's when you do depend on the leader: The job of the leader is to build an organization that is battle-ready, that has high morale, that knows how to behave, that trusts itself, and where people trust one another.
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One cannot hire a hand the whole man always comes with it.
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Successful careers are not planned. They develop when people are prepared for opportunities because they know their strengths, their method of work, and their values. Knowing where one belongs can transform an ordinary person - hardworking and competent but otherwise mediocre - into an outstanding performer.
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Many studies of research scientists have shown that achievement (at least below the genius level of an Einstein, Bohr, or a Planck) depends less on ability in doing research than on the courage to go after opportunity.
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The only things that evolve by themselves in an organization are disorder, friction and malperformance.
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We can say with certainty - or 90% probability - that the new industries that are about to be born will have nothing to do with information.
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We always remember best the irrelevant.
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Businesses are not paid to reform customers. They are paid to satisfy customers.
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(Waste = Loss): The first rule of business is to survive and the guiding principle of business economics is not the maximisation of profit, it is the avoidance of loss
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And no matter how serious an environmental problem the automobile poses in today's big city, the horse was dirtier, smelled worse, killed and maimed more people, and congested the streets just as much.
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If a business is to be considered a continuous process, instead of a series of disjointed stop-and-go events, then the economic universe in which a business operates-and all the major events within it-must have rhyme, rhythm, or reason.
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The individual is the central, rarest, most precious capital resource of our society.
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Never ask who's right. Start out by asking what is right. And you find that out by listening to dissenting, disagreeing opinions.
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