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The correct assumption is that what individuals have learned by age twenty-one will begin to become obsolete five to ten years later and will have to be replaced-or at least refurbished-by new learning, new skills, new knowledge.
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
Five
Individuals
Age
Ten
Knowledge
Later
Obsolete
Individual
Skills
Replaced
Become
Begin
Assumption
Years
Learned
Correct
Learning
Twenty
Least
Twenties
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The area in which the executive first encounters the challenge of strength is in staffing. The effective executive fills positions and promotes on the basis of what a man can do. He does not make staffing decisions to minimize weaknesses but to maximize strength.
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Meetings are a symptom of bad organization. The fewer meetings the better.
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Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
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The new information technology... Internet and e-mail... have practically eliminated the physical costs of communications.
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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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There is a point of complexity beyond which a business is no longer manageable.
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It’s up to you to carve out your place, to know when to change course, and to keep yourself engaged and productive during a work life that may span some 50 years.
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Strong people have strong weaknesses.
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Executives owe it to the organization and to their fellow workers not to tolerate nonperforming individuals in important jobs.
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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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Institutions mistake good intentions for objectives. They say health care that's an intention, not an objective.
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Leadership is not rank, privileges, title or money. It is responsibility.
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Growth that adds volume without improving productivity is fat. Growth that diminishes productivity is cancer.
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Spontaneity is an infinite number of rehearsed possibilities.
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Marketing is not only much broader than selling, it is not a specialized activity at all. It encompasses the entire business. It is the whole business seen from the point of view of its final result, that is, from the customer's point of view.
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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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Today knowledge has power. It controls access to opportunity and advancement.
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Fortunately or unfortunately, the one predictable thing in any organization is the crisis. That always comes. That's when you do depend on the leader: The job of the leader is to build an organization that is battle-ready, that has high morale, that knows how to behave, that trusts itself, and where people trust one another.
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