Quote

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
Age
Ten
Knowledge
Later
Obsolete
Individual
Skills
Replaced
Become
Begin
Assumption
Years
Learned
Correct
Learning
Twenty
Least
Twenties
Five
Individuals

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There is the general belief that the corporation income tax is a tax on the rich and on the fat cats. But with pension funds owning 30% of American large business-and soon to own 50%-the corporation income tax, in effect, eases the load on those in top income brackets and penalizes the beneficiaries of pension funds.
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The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.
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Objectives can be compared to a compass bearing by which a ship navigates. A compass bearing is firm, but in actual navigation, a ship may veer off its course for many miles. Without a compass bearing, a ship would neither find its port nor be able to estimate the time required to get there.
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No financial man will ever understand business because financial people think a company makes money. A company makes shoes, and no financial man understands that. They think money is real. Shoes are real.
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If you have too many problems, maybe you should get out of business. There is no law that says a company must last forever.
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When a resource is scarce, you increase its yield.
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Spontaneity is an infinite number of rehearsed possibilities.
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Any time I have seen someone accomplishing something magnificent, they have been a monomaniac with a mission. A single-minded individual with a passion.
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Managing innovation will increasingly become a challenge to management, and especially to top management, and a touchstone of its competence.
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What's absolutely unforgivable is the financial benefit top management people get for laying off people. There's no excuse for it. No justification. No explanation. This is morally and socially unforgivable, and we'll pay a very nasty price.
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Accept the fact that we have to treat almost anybody as a volunteer.
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Managers are the basic and scarcest resource of any business enterprise.
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Business purpose and business mission are so rarely given adequate thought is perhaps the most important cause of business frustration and failure.
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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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To be a manager requires more than a title, a big office, and other outward symbols of rank. It requires competence and performance of a high order.
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Nobody in the world is as good at making decisions as the Japanese.
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It is willingness of people to give of themselves over and above the demands of the job that distinguishes the great from the merely adequate.
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The problem in my life and other people's lives is not the absence of knowing what to do but the absence of doing it.
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