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[Entrepreneurship] is by no means hunch or gamble. But it also is not precisely science. Rather, it is judgment.
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
Science
Hunch
Also
Hunches
Mean
Gamble
Entrepreneurship
Precisely
Judgment
Rather
Means
More quotes by Peter Drucker
It has been said, and only half in jest, that a tough, professionally led union is a great force for improving management performance. It forces the manager to think about what he is doing and to be able to explain his actions and behavior.
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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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Your first and foremost job as a leader is to take charge of your own energy and then help to orchestrate the energy of those around you.
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Of all the decisions an executive makes, none is as important as the decisions about people, because they determine the performance capacity of the organization.
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Everybody has accepted by now that change is unavoidable. But that still implies that change is like death and taxes - it should be postponed as long as possible and no change would be vastly preferable. But in a period of upheaval, such as the one we are living in, change is the norm.
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Cultivate a deep understanding of yourself - not only what your strengths and weaknesses are but also how you learn, how you work with others, what your values are, and where you can make the greatest contribution. Because only when you operate from strengths can you achieve true excellence.
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Knowledge applied is productivity.
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The basic economic resource - the means of production - is no longer capital, nor natural resources, nor labor. It is and will be knowledge.
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No decision has been made unless carrying it out in specific steps has become someone's work assignment and responsibility.
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The more successful the unit, the more difficult it is to make sure that the large company doesn't put the same expectations on it as it does for the rest of the company. When it's a new venture, whether it's outside or inside the business, it's a child. And you don't put a 40-pound pack on a 6-year-old's back when you take her hiking.
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Do not measure your life by your goals but what you are doing to achieve them.
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The Welfare State, which begun in Imperial Germany for the truly indigent and disabled, has now become everybody's entitlement and an increasing burden on those who produce.
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Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results all the rest are 'costs'.
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If you want it, measure it. If you can't measure it, forget it.
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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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As with every phenomenon of the objective universe, the first step toward understanding work is to analyze it.
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There's no such thing as knowledge management there are only knowledgeable people. Information only becomes knowledge in the hands of someone who knows what to do with it.
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Time is the scarcest resource.
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Innovation requires us to systematically identify changes that have already occurred in a business - in demographics, in values, in technology or science - and then to look at them as opportunities. It also requires something that is most difficult for existing companies to do: to abandon rather than defend yesterday.
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The individual is the central, rarest, most precious capital resource of our society.
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