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What people in business think they know about the customer and market is likely to be more wrong than right...the customer rarely buys what the business thinks it sells him.
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
People
Likely
Thinks
Market
Wrong
Buys
Business
Customer
Right
Rarely
Think
Sells
Thinking
Customers
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Profit is not the explanation, cause, or rationale of business behavior and business decisions, but the test of their validity.
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Every three or four years I pick a new subject. It may be Japanese art it may be economics. Three years of study are by no means enough to master a subject but they are enough to understand it. SO for more than 60 years I have kept studying one subject at a time.
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The final test of greatness in a CEO is how well he chooses a successor and whether he can step aside and let the successor run the company.
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The job of a professional manager is not to like people. It is not to change people. It is to put their strengths to work.
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No one has ever failed to find the facts they are looking for.
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An established company which, in an age demanding innovation, is not able to innovation, is doomed to decline and extinction.
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The race for Quality has no finish line - so technically, it's more like a death march. Efficiency is doing things right effectiveness is doing the right things.
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The individual is the central, rarest, most precious capital resource of our society.
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The 1st question the effective decision-maker asks is: 'Is this a generic situation or an exception?'
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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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Working with people is difficult, but not impossible.
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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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Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.
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Capitalism is being attacked not because it is inefficient or misgoverned but because it is cynical. And indeed a society based on the assertion that private vices become public benefits cannot endure, no matter how impeccable its logic, no matter how great its benefits.
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