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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
Maximization
Meaningless
Concept
Profit
Concepts
Fact
Facts
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The enterprise that does not innovate ages and declines. And in a period of rapid change such as the present, the decline will be fast.
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There are usually half a dozen right answers to what needs to be done. Yet, unless a person makes the risky and controversial choice of only one, he will achieve nothing.
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We do not need more laws . No country suffers from a shortage of laws. We need a new model .
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Knowledge has to be improved, challenged, and increased constantly, or it vanishes.
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No one has ever failed to find the facts they are looking for.
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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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Of those things that would make a difference, which are right for me?
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Do the right things instead of trying to do everything right.
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The days of the 'intuitive' manager are numbered.
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Management means, in the last analysis, the substitution of thought for brawn and muscle, of knowledge for folkways and superstition, and of cooperation for force. It means the substitution of responsibility for obedience to rank, and of authority of performance for the authority of rank.
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Successful people know they need to get many things done-and done effectively. Therefore, they concentrate their time and energy on doing one thing at a time-and on doing first things firs.
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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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Effective organizations put people in jobs in which they can do the most good. They place people -- and allow people to place themselves -- according to their strengths.
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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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Some of the best business and nonprofit CEOs I've worked with over a sixty-five-year consulting career were not stereotypical leaders. They were all over the map in terms of their personalities, attitudes, values, strengths, and weaknesses.
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Decisions of the kind the executive has to make are not made well by acclamation. They are made well only if based on the clash of conflicting views...The first rule in decision-making is that one does not make a decision unless there is disagreement.
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Use feedback analysis to identify your strengths. Then go to work on improving your strengths. Identify and eliminate bad habits that hinder the full development of your strengths. Figure out what you should do and do it. Finally, decide what you should not do.
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