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

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The best way to predict the future is to create it.
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There's nothing so useless than executing a task efficiently when it actually never should have been executed at all.
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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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Planning is actually incompatible with an entrepreneurial society and economy. Planning is the kiss of death of entrepreneurship.
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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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What's measured improves
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Promotion should not be more important than accomplishment, or avoiding instability more important than taking the right risk.
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The fruit of your work grows on other people's trees
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Leadership is not rank, privileges, title or money. It is responsibility.
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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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It takes far less energy to move from first-rate performance to excellence than it does to move from incompetence to mediocrity.
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Through systematic terror, through indoctrination, through systematic manipulation of stimulus, reward, and punishment, we can today break man and convert him into brute animal... The first step toward survival is therefore to make government legitimate again by attempting to deprive it of these powers... by international action to ban such powers.
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Executives do many things in addition to making decisions. But only executives make decisions. The first managerial skill is, therefore, the making of effective decisions.
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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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Entrepreneurship is neither a science nor an art. It is a practice.
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The ultimate resource in economic development is people. It is people, not capital or raw materials that develop an economy.
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