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Profit is not the explanation, cause, or rationale of business behavior and business decisions, but the test of their validity.

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
Tests
Profit
Decisions
Behavior
Cause
Rationale
Decision
Validity
Causes
Explanation
Business
Test

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Since we live in an age of innovation, a practical education must prepare a man for work that does not yet exist and cannot yet be clearly defined.
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That the government's power under the Taft-Hartley Act to stop a strike by injunction so clearly strengthens the hand of the employer-even though it is used only when a strike threatens the national health, welfare, or safety-is a grave blemish and explains much of union resistance to the Act.
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Time is the scarcest resource.
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Businesses are not paid to reform customers. They are paid to satisfy customers.
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[Entrepreneurship] is by no means hunch or gamble. But it also is not precisely science. Rather, it is judgment.
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Marketing is the distinguishing, unique function of the business.
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As a manager you're paid to be uncomfortable. If you're comfortable, it's a sure sign you're doing things wrong.
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Most discussions of decision making assume that only senior executives make decisions or that only senior executives' decisions matter. This is a dangerous mistake.
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The best way to predict the future is to create it.
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Our most important education system is in the employees' own organization.
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It is easier to raise the performance of one leader than it is to raise the performance of a whole mass.
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Only three things happen naturally in organizations: friction, confusion, and underperformance. Everything else requires leadership.
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What gets measured gets managed.
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If the feudal knight was the clearest embodiment of society in the early Middle Ages, and the bourgeois under Capitalism, the educated person will represent society in the post-capitalist society in which knowledge has become the central resource.
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Every enterprise is learning and teaching institution. Training and development must be built into it on all levels, training and development that never stop.
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Time is the scarcest resource and unless it is managed nothing else can be managed.
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Mother Teresa's numerical results were not her greatest contribution. Instead, she made the world-and especially India-conscious of compassion.
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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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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 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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